Temex maintains 100% interest in Ontario Diamond Projects



    TORONTO, March 9 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") announces that Teck Cominco Limited
("Teck Cominco") has elected to not exercise its option to participate in
further exploration on the Wilson Lake and Latchford Diamond Projects, thereby
allowing Temex to retain a 100% interest in the projects. The 105,000 acre
Project is located in the Latchford and Temagami areas of northeastern
Ontario, approximately 500 km north of Toronto.
    Commented Ian Campbell, President, "With the support of Teck Cominco, we
discovered diamonds on only our third of five targets tested, and have
developed over 20 additional targets for drill testing including eight targets
remaining from the 2006 campaign. We would like to thank Teck Cominco for
helping to advance our diamond exploration projects, and we are pleased to
have them as a shareholder through this decision."

    
    Ongoing Exploration Highlights
    -   Additional micro-diamond recovered from sampling on KRVY drill core
    -   Additional high priority geophysical targets identified
    -   Templating of till samples identifies a match to Sharp Lake eclogitic
        boulder
    -   Ground geophysical work underway on priority drill targets
    

    Further to the Company's news release of December 07, 2006 Temex
announces that processing of an additional 60 kgs of drill core not previously
sampled from hole TD-06-03 has yielded an additional micro-diamond from
caustic fusion analyses, bringing the total to six micro-diamonds yielded from
the first hole into the KRVY target. The hole intersected two sections of
kimberlitic and volcanic breccia with the recent split sections from the lower
51 metre interval. Initial sample processing recovered five micro-diamonds,
the two largest of which were two transparent white diamond fragments. The
KRVY target was one of 13 high priority targets jointly selected by Teck
Cominco and Temex for drill testing in 2006 of which eight targets remain to
be tested. During the fall 2006, geophysical modelling of the 2006 Fugro Midas
high resolution magnetic survey data was completed to identify potential
kimberlitic bodies in the 100-150 metre diameter range. Several new targets
have been identified and these have been further prioritized based on spatial
relationship with kimberlite indicator mineral ("KIM") abundances. Ground
geophysical work has commenced on several targets in preparation for diamond
drilling.
    The KRVY target is represented by a circular geophysical magnetic anomaly
with an approximate diameter of 225 metres and occurs proximal to the regional
Montreal River Fault. This fault defines a portion of the Lake Timiskaming
structural zone, widely believed to be the major controlling feature for
emplacement of the Lake Timiskaming kimberlite field as well as the
Attawapiskat kimberlite field which hosts the Victor Kimberlite 450 kilometres
to the north-northwest. Thin section analyses indicate that the matrix
material hosting the diamonds is intensely metasomatically altered with
mineralogy and textures suggestive of an ultramafic, upper mantle derived
(forsteritic olivine) magma. This is interpreted to represent the peripheral
or upper portion of a kimberlitic body. Temex interprets the diamondiferous
nature of the peripheral phase, including the presence of a diamond fragment
measuring 0.48 mm in one dimension to be highly encouraging. Additional work
is underway to further evaluate this target.
    Temex till sampling in the project area since 2001 has recovered over
31,000 KIM grains of which microprobe analyses on 8700 grains indicates the
presence of diamond-facies chromite, diamond-facies pyrope and
eclogitic/websteritic garnet within the Temex project area all of which are
positive indicators of diamond bearing kimberlites. Microprobe analyses
completed in 2006 indicates that some of the recovered garnets belong to the
G3 and G4D eclogite groups. Of significance is that some of these are
compositionally similar to the diamond-facies population that is thought to be
related to diamond-bearing mantle source rocks beneath the Victor Kimberlite.
The Victor Kimberlite will be Ontario's first diamond mine with full
processing expected to begin in 2008. Furthermore, one of the Temex till
samples processed in 2006 contains a similar indicator mineral suite to a
kimberlite boulder discovered by the Geological Survey of Canada ("GSC") which
contains Group I garnets of eclogitic paragenesis from a potentially
diamondiferous kimberlite. The kimberlite source of these boulders remains
undiscovered in the TImiskaming field however the Temex till sample containing
a similar indicator mineral suite is located in the down-ice direction of a
cluster of 100-200 metre diameter geophysical targets. These targets occur
also in the most likely interpreted up-ice direction of transport for the GSC
boulder.
    The Timiskaming kimberlite field is presently represented by
24 kimberlites of which over 50% are diamondiferous, and is Canada's
southernmost kimberlite field. The prospectivity of the field has been
demonstrated by the recent discovery of a new kimberlite by Superior Diamonds.
This discovery combined with the discovery of diamonds in the KRVY target
demonstrates the excellent discovery potential of the area. Significantly, the
kimberlite discovery by Superior is reported to have no magnetic signature,
unlike most of the kimberlites discovered to date.
    In consideration of the convertible note for the first year funding,
which would have offset it against the 2006 work program if Teck Cominco had
continued with the option, Temex has elected to issue to Teck Cominco
1,304,348 shares in the common stock of Temex at a price of $0.575 (NR
December 1, 2005). The securities issued under the Offering are subject to a
hold period expiring on July 6, 2007, and are subject to TSX-Venture Exchange
approval.

    Temex, a well-funded Canadian exploration company, is focused on
advancing its gold, silver and diamond projects in northeastern Ontario. 
please visit the Temex website www.temexcorp.com or contact Ian Campbell at
(416) 862-2246.

    On behalf of the Board of Directors,

    "Ian Campbell"

    Ian Campbell
    President and CEO

    (*)The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release(*)

    %SEDAR: 00005513E




For further information:

For further information: please visit the Temex website
www.temexcorp.com or contact Ian Campbell at (416) 862-2246

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