Oremex Update

    VANCOUVER, Aug. 6 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the
Company) today provided a progress update for the Tejamen Silver Property
    The Company has generated significant support for development of Tejamen
from State, regional and local officials as well as the commercial, health,
educational and regional sectors and the general populace of Tejamen and Nuevo
Ideal. In addition, the Federal Minister of Mines has dedicated staff to
assist with finalization of an agreement.
    Discussions with representatives of the Ejido (local village and
surrounding lands) continue to progress, although more slowly than
anticipated. The Company has submitted a conciliatory letter requesting formal
authorization for a new relationship and atoning for the mistakes of the past
administration of the Company in Mexico. During the year the Company has taken
a number of remediation measures in the village. The law firm of
Pizarro-Suarez & Vazquez has been retained to assist with surface access
rights to enable project development and subsequent production.
    To advance the project technically and provide for future permit
requirements the Company has assembled a project team which has continued to
work on Tejamen. A new topographical survey of the drill holes been completed
and plotted and drill holes in the Los Mantos zone have been re-logged and
re-plotted for consistency.
    Management have completed a revised internal analysis to refine the
scoping study prepared by Snowden Mining Industry Consultants (Snowden) in
October 2006 which contemplated open pit mining from two mineralized zones,
the Cerro Prieto and Los Mantos. The revised analysis, based on cost estimates
from Snowden, operating costs of comparable Mexican mines and an internal cost
sensitive analysis, supports initial production solely from the Los Mantos
Zone which contains 70% of the silver defined to date. Under this plan of
operations and revised pit outline, disturbance to the village would be
minimal and it will not be necessary to move the village as contemplated by
Snowden. Production could proceed in the Los Mantos Zone for four to five
years while exploration is conducted to expand near surface resources
surrounding that zone.
    Management have also reviewed previous work and through reinterpretation
believe there is also good potential to explore, develop and ultimately
exploit by underground mining the higher grade feeder veins, intercepted by
previously drilled diamond drill holes, under both the Los Mantos and Cerro
Prieto zones. Additional drill holes required to upgrade mineral resources as
well as drill holes to complete condemnation drilling have been mapped out.
    A development program to take Tejamen through to a feasibility study has
been planned. Infill and condemnation drilling will include over 8,500 metres
of diamond drilling and 32,700 metres of reverse circulation drilling. The
program will also include updated resource calculations; rock mechanics to
maximize the slope angle of the pit, optimize pit design and define the
possibility of breaking the rock with a ripper instead of explosives in the
first benches near the surface; blast vibration analysis for blast design that
would minimize any vibration impacts on the village; hydrological studies to
design a dewatering system for the pit; as well as metallurgical test work to
optimize the recovery process and plant design.
    The Company intends to retain an external engineering firm to review the
work while an internal feasibility study is being produced and, subject to
completion of the necessary work, prepare an independent NI 43-101 Technical
Report: Feasibility Study for the Tejamen Silver Property.
    Tejamen has an inferred mineral resource of 50.8 million ounces of silver
in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams
per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden
Mining Industry Consultants ("Snowden") completed a Preliminary Assessment
Study (NI 43-101 Technical Report, October 3, 2006) for Tejamen demonstrating
that the project could support a 10,000 tonne per day open pit, heap leach
mining operation.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    National Instrument 43-101 requires the following statement: that the
preliminary assessment is preliminary in nature, that it includes inferred
mineral resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
preliminary assessment will be realized.

    Forward-Looking Statements: The above contains forward-looking statements
that are subject to a number of known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially from those
anticipated in our forward-looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues
and mineral recovery processes. Although we believe the expectations reflected
in our forward-looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance or

For further information:

For further information: Linda Thorstad, M.Sc., P.Geo., Chief Executive
Officer, T: (604) 683-5651, E: linda.thorstad@oremex.com

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