Temex, Noront And Baltic Expand Property Position Via Staking Syndicate



    TSX Venture Exchange:TME, Frankfurt Exchange:TQ1

    TORONTO, Dec. 11 /CNW/ - Noront Resources Ltd. ("Noront"), Baltic
Resources Inc. ("Baltic") and Temex Resources Corp. ("Temex", TSX Venture
Exchange TME, Frankfurt Exchange TQ1) announce that they have completed a
significant land acquisition campaign in the McFaulds Lake area in the James
Bay Lowlands region of northeastern, Ontario. The new properties, located in
the general area of Noront's Double Eagle Ni-Cu-PGE discovery, were acquired
by Temex on behalf of Temex, Noront and Baltic collectively the Staking
Syndicate ("Staking Syndicate"). A total of 120 mining claims comprising 1900
claim units totaling 76,000 acres (the "Claims") were acquired on behalf of
the Staking Syndicate.
    Subsequent to the staking campaign, Temex, Noront and Baltic have entered
into a binding Letter of Agreement whereby each party has agreed to grant the
other two parties a 100% interest in one third of the total claims staked,
with each of the parties retaining a 1% Net Smelter Returns ("NSR") royalty in
the claims granted to the other parties. Therefore each party has a 100%
interest in one third of the claim units and a 1% NSR royalty in two thirds of
the claim units. Temex acted as operator of the Staking Syndicate.
    The Claims cover features thought to represent geological environments
similar to the geological setting near the Noront Ni-Cu-PGE discovery. It is
believed that the newly acquired Claims have never been subjected to any
previous exploration for Ni-Cu-PGE mineralization, and for the most part, the
Claims have not been covered by a modern magnetic and electromagnetic
geophysical survey.

    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: on Temex please contact Ian Campbell or Bruce
Durham at (416) 862-2246 or visit the Company's website at www.temexcorp.com;
For further information on Noront, please contact Richard Nemis at (416)
864-1456, or visit www.norontresources.com; For further information on Baltic
please contact Don McKinnon or Gordon McKinnon at (705) 268-9000, or visit
www.balticresources.ca

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Temex Resources Corp.

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