Orex Files an Updated Resource Estimate for Barsele Gold Project,
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/03/12 -- Orex
Minerals Inc. (TSX VENTURE:REX) ("Orex") is pleased to report that a
technical report prepared in accordance with National Instrument
43-101 ("NI 43-101") in support of the Company's November 21, 2012
news release, which included an updated independently verified
mineral resource estimate for its Barsele Gold Project near Storuman,
in northern Sweden has been completed and filed today. The full
report is now available on SEDAR at www.sedar.com. The study
incorporates all drilling to date including the 16 diamond drill
holes completed in early 2012. The updated resource estimate on the
Central-Avan-Skirasen gold zones, at a 0.6 g/t cut-off, has outlined
an Indicated Resource of 14.1 million tonnes grading 1.21 gold grams
per tonne (g/t) or 547,000 contained ounces of gold. In addition, the
study has estimated additional Inferred Resources of 20.2 million
tonnes grading 0.97 gold grams per tonne (g/t) or 627,000 contained
ounces of gold. This represents a 43% increase in the Indicated
Resources and a 3% decrease in the Inferred Resources from the
previous Feb. 11, 2011 resource estimate using the same cut-off
Arthur Freeze, P.Geo., a director of Orex, is a Qualified Person as
defined in NI 43-101 and takes responsibility for the technical
disclosure in 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 two current projects: its flagship
property, the Barsele Gold Project located in Sweden, and the Coneto
Silver-Gold Project situated in Durango, Mexico, 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
iffer materially from those currently anticipated in such
statements and Orex undertakes no obligation to update such
statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Orex Minerals Inc.
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