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Message: Files Fiscal 2008 Annual Financial Statements
| March 31, 2009 |
| Oremex Resources Inc. Files Fiscal 2008 Annual Financial Statements |
| TORONTO, ONTARIO--(Marketwire - March 31, 2009) - Oremex Resources Inc. (TSX VENTURE:ORM) ("Oremex" or the "Company") reports that it has released its audited financial statements for the year ended November 30, 2008 and the related management's discussion and analysis of financial position and results of operations ("MD&A"). Fiscal 2008 was a very challenging year for the Company as it lost $1.6 million and consumed most of its cash. However, subsequent to year end the Company raised gross proceeds of $660,000 and with several new board, advisory and management team members is focused on continuing to develop its flagship Tejamen property. Copies of the audited financial statements, related MD&A and annual information form can be found on SEDAR at www.SEDAR.com. About Oremex Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's principal properties are the Tejamen and San Lucas properties located in the State of Durango and the Cuyoaco Property in the State of Puebla. The Company's most advanced project 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 completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation. 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. |
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