VANCOUVER, April 24, 2015 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex") would like to provide an update regarding Orex's Barsele Gold Project located in Sweden.
On April 21, 2015, Orex received decisions from the Mining Inspectorate in Sweden granting the renewal of three important mineral exploration permits at the Barsele Gold Project.
Orex today also obtained a $600,000 loan from Agnico Eagle Mines Limited ("Agnico"). Principal and interest on the loan is payable on the earlier of (i) April 24, 2016, and (ii) the closing date of the proposed transaction with Agnico previously described in Orex's press release dated February 23, 2015. Orex expects the transaction to close in May.
Completion of the proposed transaction remains subject to the execution of definitive agreements, the approval of the TSX Venture Exchange and all other regulatory, corporate and security holder requirements.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo Plc.
ON BEHALF OF THE BOARD OF DIRECTORS
This News Release may contain forward-looking statements including but not limited to comments regarding the proposed transaction with Agnico. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Orex Minerals Inc.
For further information: please contact Orex Minerals Inc. at (604) 687-8566 ext. 227,email [email protected] or visit our website at www.orexminerals.com