TEMEX: JUBY GOLD DEPOSIT EXPANDING, INTERSECTS 70.0 METRES GRADING 1.20 g/t GOLD

TSX-V:TME; FWB:TQ1

TORONTO, Jan. 12 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") announces additional drill results from on-going drilling at its 100% owned Juby Gold Property located in the Shining Tree gold district of northeastern Ontario. Drilling continues to demonstrate wide zones of gold mineralization with excellent continuity in the Juby Main Zone gold deposit.

Highlights:

  • Hole JU10-106: 70.00 metres of 1.20 g/t gold, including 26.00 metres of 2.45 g/t gold
  • Hole JU10-107: 53.50 metres of 1.02 g/t gold, including 18.30 metres of 2.10 g/t gold
  • On-going drilling continues to expand and upgrade the Juby Main Zone gold deposit (>1 million ounces of gold)
  • Deposit remains open at depth and along strike

"Our ongoing drill program at Juby continues to demonstrate excellent continuity of gold mineralization. Since commencing the latest drill program we have expanded the deposit to a vertical depth of 700 metres below surface (news release December 14, 2010) and now we are increasing the confidence level to upgrade inferred resources to the indicated category while adding new inferred resources at the same time. In addition to the ongoing drilling to expand our gold resources at the Juby Main Zone, we are also excited about drilling several new exploration targets in close proximity to our gold deposit," commented Ian Campbell, President and CEO of Temex Resources Corp.

Drill intersections for holes JU10-106 and JU10-107 are located approximately 75 metres apart and both holes intersected significant gold mineralization including anomalous gold over core lengths of well over 100 metres.  Better intersections include 70.00 metres grading 1.20 g/t gold with a higher-grade 26.00 metre interval grading 2.45 g/t gold in JU10-106. In hole JU10-107, the upper part of the mineralized zone assayed 1.52 g/t gold over 18.77 metres and a second interval in the hole intersected 53.50 metres grading 1.02 g/t gold including 2.10 g/t gold over 18.30 metres. Significant intersections are reported in the attached table.

The Juby Main Zone deposit currently contains a National Instrument 43-101 ("NI 43-101") compliant Indicated resource of 614,000 ounces of gold grading 1.36 g/t gold at a cut-off grade of 0.50 g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14 g/t gold at a cut-off grade of 0.50 g/t gold. Gold mineralization occurs within sericite-silica-albite-pyrite altered Timiskaming sedimentary rocks and feldspar porphyries. The deposit remains open at depth and along strike to the west.

To view a longitudinal section of the Juby Main Zone located on the Juby Lease Property, please visit: http://files.newswire.ca/322/JubyLongSectionJan12.pdf

Jari Paakki, P. Geo., Vice-President, Exploration of the Company, is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of this news release. 

About Temex Resources Corp.

Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district. Temex is focussed on exploring the Timmins Gold Project, and specifically the property known as Whitney, in partnership with Goldcorp and at the same time advancing its Juby Gold Project, one component of which is the 100% owned Juby Lease Property which contains a National Instrument 43-101 Indicated resource of 614,000 ounces of gold and an Inferred resource of 602,000 ounces of gold.

Significant Drill Intersections for Drill Holes JU10-106 AND JU10-107
         
Hole From (m) To (m) Length (m) Au (g/t)
         
JU10-106 410.00 480.00 70.00 1.20
including 422.00 425.60 3.60 2.19
and 452.00 478.00 26.00 2.45
         
JU10-107 432.00 450.77 18.77 1.52
including 440.00 448.96 8.96 2.61
and 485.00 538.50 53.50 1.02
including 487.00 505.30 18.30 2.10
including 487.00 493.50 6.50 3.27
including 502.00 505.30 3.30 3.60

Note: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks.  Samples of split NQ core are transported by Company personnel to Swastika Laboratories in Swastika, Ontario in sealed bags.  The remaining half of the core is kept as a permanent record and stored at a secure facility in Gowganda.  The core samples are analyzed using a 30 gram standard fire assay method.  Pulp metallic gold assaying is performed as required on samples where visible gold is observed. Intervals reported are core lengths. True widths are unknown at this time.

Forward Looking Statements:
This news release includes certain "forward-looking statements".  Such forward-looking statements involve risks and uncertainties.  The results or events predicted in these forward-looking statements may differ materially from actual results or events.  The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Neither the 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 Temex Resources Corp.

For further information:

please visit www.temexcorp.com or
email: info@temexcorp.com or
phone: 416-862-2246  toll free: 866-373-6287

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