Orex and Fresnillo Commence Drilling at the Coneto Silver-Gold Project in Durango
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 2, 2014) - Orex Minerals Inc. - (TSX VENTURE:REX) ("Orex"), in conjunction with their project partner Fresnillo Plc (LSE:FRES) ("Fresnillo"), commences on July 1st 2014, the Phase-III 10,800 metres diamond drilling program on their Coneto Silver-Gold Project in Durango, Mexico. A joint technical committee, with both Orex and Fresnillo representation, will guide the Coneto project, with Fresnillo as the operator.
The service provider, Kluane Drilling Ltd. ("KDL") is a highly experienced international diamond drilling company, with a regional service and supply office in Durango. KDL utilizes modularized mobile drilling equipment to minimize environmental and social impact, such as the KDHT-1000 drill rig, which is capable of +500 metre depth of large HTW-size core and +800 metre depth of intermediate NTW-size core.
Orex's President, Gary Cope says, "We look forward with great interest to this new phase of diamond drilling. Twenty-eight holes are planned for this third phase."
Coneto Mining District - Durango, Mexico
The historic Coneto Mining District is situated in the heart of the "Mexican Silver Trend", on the Mesa Central, stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. The trend hosts some of the world's largest silver deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles, and Zacatecas mining camps.
Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 hectares and cover multiple mineralized epithermal quartz veins. To date, Orex and Fresnillo have drilled 51 holes totaling 17,000 metres on Coneto.
Stock Options
In addition, Orex Minerals Inc. has granted 250,000 incentive stock options to a consultant to purchase 250,000 shares in the capital of Orex at an exercise price of $0.365 per share with a two year term. The options will vest immediately.
Ben Whiting, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE: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 |
| Gary Cope |
| President |
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. 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.