Orex's Coneto Project Yields High Gold and Silver Values at La Bufa

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Nov. 1, 2010) - Orex Minerals Inc. – (TSX VENTURE: REX) is pleased to present a progress report on the geological program at the Coneto gold-silver mining camp in Durango State, Mexico.

In this fourth installment of rock surface sampling, the focus is on the La Bufa sector, 2.5 kilometres northwest of the Loma Verde sector and the village of Coneto de Comonfort. An interpretation of the Phase-I drilling results at Loma Verde and Impulsora is also presented herein.

Reconnaissance surface results include La Bufa #7715 with a true width 1.5 m grading gold 0.051 g/t and silver 632 g/t for a silver-equivalent of 635 g/t, or gold-equivalent of 10.58 g/t. La Bufa #7817 yielded 1.2 m grading gold 5.654 g/t and silver 82 g/t for a silver-equivalent of 421 g/t, or gold-equivalent of 7.02 g/t.

Gary Cope, President of Orex, says; "La Bufa represents another encouraging drilling target area within the large Coneto gold-silver mining camp. Phase-I diamond drilling gave us good results in the Loma Verde and Impulsora sectors (see below) and there are multiple veins yet to be tested at Coneto. A Phase-II diamond drilling program is currently being planned."

The initial three surface sampling updates of results were published in news releases dated 17 November 2009, 11 January and 17 March 2010. The highlights in the table below are in addition to those previously released. Gold and silver vary from sector to sector on the property, thus both silver-equivalent and gold-equivalent are presented.


Surface rock sampling highlights – August 2010

Sector Sample Rock Sample True Au Ag AgEq AuEq
Number Type Type Width (m ) (g/t ) (g/t ) (g/t ) (g/t )

La Bufa 7666 VEIN Channel 1.5 0.083 102.0 107.0 1.783
La Bufa 7700 VEIN Channel 1.6 0.562 74.0 107.7 1.795
La Bufa 7715 VEIN Channel 1.5 0.051 632.0 635.1 10.584
La Bufa 7805 STWK Channel 2.0 0.076 57.0 61.6 1.026
La Bufa 7817 ANVT Channel 1.2 5.654 82.0 421.2 7.021
La Bufa 7818 ANVT Channel 1.2 1.891 26.0 139.5 2.324
La Bufa 7821 STWK Channel 1.8 0.183 114.0 125.0 2.083
La Bufa 7825 STWK Channel 1.6 0.043 103.0 105.6 1.760
La Bufa 7830 STWK Channel 1.8 0.323 122.0 141.4 2.356
La Bufa 7833 STWK Channel 2.0 0.322 186.0 205.3 3.422
La Bufa 7836 RHVT Channel 1.0 2.366 98.0 240.0 3.999
La Bufa 7838 RHVT Channel 1.0 3.480 103.0 311.8 5.197
La Bufa 7847 STWK Channel 2.7 0.095 95.0 100.7 1.678
La Bufa 7848 STWK Channel 1.8 1.031 63.0 124.9 2.081

In addition, upon evaluating the results of the Phase-I diamond drilling program released on 5 July and 9 August 2010, two sectors stand out and are presented here for clarification.


LOMA VERDE VEIN

In the 2010 drilling on Loma Verde, 6 of the 7 drill holes exceeded the minimum thickness and grade cut-offs of > 1.5 m thick and > 100 g/t silver-equivalent.

Hole From To Core
Length True
Width Au
(g/t ) Ag
(g/t ) Ag-Eq
(g/t ) Au-Eq
g/t )

CC-10-01 184.10 192.90 8.80 7.21 0.471 165.2 193.4 3.224
CC-10-02 299.20 302.50 3.30 1.89 0.184 117.8 128.8 2.147
CC-10-03 259.30 263.00 3.70 3.03 0.583 125.1 160.1 2.668
CC-10-18 136.40 141.20 4.80 4.16 1.577 48.8 143.4 2.390
CC-10-20 144.50 148.10 3.60 3.12 0.982 291.6 350.5 5.842
CC-10-21 121.90 128.70 6.80 5.89 0.853 118.3 169.5 2.824

Wtd Average 5.17 4.22 0.797 142.4 190.2 3.170


IMPULSORA VEIN

In the 2010 drilling on Impulsora, 3 of the 4 drill holes exceeded the minimum thickness and grade cut-offs of > 1.5 m thick and > 100 g/t silver-equivalent.

Hole From To Core
Length True
Width Au
(g/t ) Ag
(g/t ) Ag-Eq
(g/t ) Au-Eq
(g/t )

CC-10-11 93.00 94.70 1.70 1.54 0.658 74.0 113.5 1.892
CC-10-12 116.00 120.90 4.90 4.60 1.596 114.7 210.5 3.508
CC-10-13 78.80 80.80 2.00 1.97 1.308 102.6 181.1 3.018

Wtd Average 2.87 2.70 1.348 104.0 184.9 3.082

Maps of the geochemical program can be found on the Orex website at the following address: www.orexminerals.com

The first four sampling reports cover 752 B-horizon soil, 1,256 rock channel, 656 rock chip and 64 rock grab totaling 2,772 samples, ranging from trace to 21.20 g/t for gold and trace to 1,750 g/t for silver. SGS Mineral Services, a certified commercial laboratory in Durango, Mexico, performed the analytical testing by fire assay with atomic absorption finish, and multi-element inductively coupled plasma analyses. A QA/QC program is in place for sample collection through to laboratory analysis. Host rock is primarily andesite and rhyolite of the Tertiary Lower Volcanic Group. Sample rock type abbreviations used in this news release are ANVT andesite with quartz veinlets, RHVT rhyolite with quartz veinlets, STWK stockwork, and VEIN quartz vein.

Located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains, Coneto is centrally positioned in the "Mexican Silver Trend". This silver trend, stretching from Guanajuato in the southeast, through the states of Zacatecas and Durango, hosts some of the World's largest silver deposits, including the Real de Angeles, Zacatecas, Fresnillo, La Preciosa, and La Pitarrilla mining camps.

Ben Whiting, P.Geo., is the Qualified Person as defined in NI43-101 and takes responsibility for the technical disclosure in this news release.

Silver-equivalent for the purposes of this news release is defined as silver grade plus 60 times gold grade. Gold-equivalent is defined as gold grade, plus silver divided by 60. The 60:1 ratio is based on the average gold:silver price ratio over 10 years on the London Metal Exchange. Metallurgical recoveries and net smelter returns are assumed to be 100% for the equivalent values. Base metal values are not included in the equivalent values.


About Orex Minerals Inc.

Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties.


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. Orex relies upon litigation protection for forward-looking statements.

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.



Contact Information

Orex Minerals Inc.
Gary Cope, President
(604) 687-6310
(604) 687-6365 (FAX)
info@orexminerals.com
www.orexminerals.com