VANCOUVER, Canada, May 4 /PRNewswire/ -- Oremex Resources Inc. (TSX-V: ORM) (the "Company") announced that at the Annual General Meeting of the Shareholders held on May 3, 2007, the shareholders elected two new directors, Chris Marcus and Craig Thomas, and re-elected the following incumbent directors: Francisco Crespo Hernandez, Ross Glanville, Iain MacPhail, Andrew Milligan, Dale Scholz, and Henry Scholz. Mr. Thomas, partner at Thomas, Rondeau, is a lawyer practicing in British Columbia with extensive experience in corporate finance, mergers and acquisitions, and mining. Mr. Marcus, CEO and Founder of Fyre Marketing LLC, is a communications and investor relations specialist.
The Company also announced the grant of 150,000 stock options each to Mr. Marcus and Mr. Thomas under the incentive stock option plan. The options are exercisable at a price of CDN$0.54 per share for a period of five years.
The Company has completed a 5,000-metre drill program at its San Lucas Property, testing extensions down dip and along trend of mineralization. A 3,000-metre drill program completed in 2005 outlined gold-silver-lead-zinc mineralization over a strike length of 2 kilometres with widths up to 70 metres of a mineralized zone that has been mapped for over 4 kilometres. Results are pending.
In addition, the Company is continuing discussions with the Ejido (governing authority for the village and surrounding lands) at the Tejamen Silver Property while pursuing access to surface rights through applicable federal laws. Tejamen contains a 43-101 compliant (April 2006) resource of 50.8 million ounces of silver and, according to a 43-101 compliant (October 2006) preliminary assessment study, can support a large open pit, heap leach 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 achievements.
