Temex partners with Gee-Ten in Noront-McFaulds Lake area



    TORONTO, Sept. 16 /CNW/ - Temex Resources Corp. (TSX Venture:TME,
Frankfurt:TQ1) ("Temex") announces that they and partner East West Resource
Corporation (TSXV: EWR), ("East West"), (collectively "the Companies") have
entered into a Letter of Intent ("LOI") with Gee-Ten Ventures Inc. (TSXV:GTV)
("Gee-Ten") whereby the Companies grant to Gee-Ten the option to earn up to
65% interest in the North Trap Property (the "Property") in the
Noront-McFaulds Lake area of the James Bay Lowlands.
    The North Trap Property comprises 16 claims totalling 208 claim units of
the 1,124 claim unit Fishhook Property that is held under a 50:50 Joint
Venture between Temex and East West. The North Trap Property covers a 12
kilometre long magnetic structure on the northern edge of the Highbank Lake
mafic-ultramafic complex, the western end of which trends onto claims recently
optioned to Noront Resources Ltd. by Temex and East West (news release Aug 21,
2008). The North Trap Property has been surveyed with the helicopter-borne
magnetic and electromagnetic VTEM system and three prominent and distinct
conductors have been identified. The drill targets are slated to be tested as
soon as possible while drilling equipment and crews are active on nearby
properties.
    Gee-Ten has the option to earn a 50% interest by making cash payments
totalling $150,000, including an initial cash payment of $60,000, issuing
200,000 shares over the next four years, including an initial issuance of
50,000 shares, and by spending $600,000 in the first year and an aggregate of
$3.0 million over the earn-in period of three years. When those terms have
been met, a joint venture will be formed to further explore and develop the
Property. Gee-Ten will have the option to earn an additional 10% interest by
spending an aggregate of $4.0 million in exploration expenditures, and a
further 5% interest following the preparation of a feasibility study. East
West is acting as operator of the exploration programs during the earn-in
period. The Agreement is subject to the approval of the TSX Venture Exchange.

    Temex is a well-funded Canadian exploration company advancing its
precious metal, nickel, diamond, and uranium projects in Ontario. For further
information, contact Ian Campbell or Bruce Durham at 416-862-2246 or visit
www.temexcorp.com. Investors are also invited to visit the Temex IR Hub at
http://www.agoracom.com/ir/Temex where they can post questions and receive
answers or review questions and answers already posted by other investors.
Alternatively, investors are able to e-mail all questions and correspondence
to mailto:TME@agoracom.com where they can also request to be added to the
investor e-mail list to receive all future press releases and updates in real
time.

    
    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: contact Ian Campbell or Bruce Durham at (416)
862-2246 or visit www.temexcorp.com

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Temex Resources Corp.

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