Tirex Closes Financing Oversubscribed

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/19/10 -- Tirex Resources Ltd. (TSX VENTURE: TXX) -

Tirex Closes Financing Oversubscribed

--  closes $950,700 in equity financing
--  to draw down an additional EUR 2 Million (CAD $2.73 million) from EBRD
--  equity and EBRD draw combines to total CAD $3,680,700 in funding

Tirex Resources is pleased to announce it has completed the company's equity private placement, announced on July 8th, 2010 and is now fully qualified to draw down approximately $2,730,000 under its facility with the European Bank for Reconstruction and Development ('EBRD').

Due to significant investor interest, Tirex oversubscribed the equity portion of the financing and closed on total gross proceeds of $950,700 through this issuance of 7,922,500 shares at $0.12 per share. There were no warrants issued in conjunction with this financing.

Additional to the equity raise, Tirex now intends to draw down $2,730,000 under terms of its financing facility with the EBRD (see October 8th, 2008 news for details on the EBRD funding arrangement).

Bryan Slusarchuk, CEO, states, 'The injection of $3,680,700 into Tirex is timely as we plan to intensify exploration onsite and also evaluate the production potential of multiple mineralized zones in the Mirdita VMS District.'

To date, Tirex has drilled more than 20,000 metres at Mirdita in 64 holes. Wide zones of robust mineralization have been drilled and previously announced at Koshaj, South Gurthi and Letitna. In addition to advanced stage definition and expansion work in known areas of mineralization, Tirex is exploring multiple areas of the District that are previously undrilled and underexplored, targeting discovery.

Finder's fees of $30,435 were paid in conjunction with the equity financing. The shares issued are subject to a four month hold, expiring on November 20, 2010.

Further details on the company and the Mirdita Project can be found on the Tirex website at www.TirexResources.com.

ON BEHALF OF TIREX RESOURCES LTD.

Bryan J.R. Slusarchuk, CEO and Director

Forward-Looking Statements. This Tirex News Release may contain certain 'forward-looking' statements and information relating to Tirex that are based on the beliefs of Tirex management, as well as assumptions made by and information currently available to Tirex management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

'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 news release.'

Contacts:

Tirex Resources Ltd.

Bryan J.R. Slusarchuk

CEO and Director

(604) 687-7160 or Toll Free: 1-877-687-7160

(604) 687-7165 (FAX)
info@TirexResources.com
www.TirexResources.com