Company Updates From Management – Fri 17 Jan, 2014

Orex Commences 2014 Field Operations in Sinaloa State, Mexico

Orex Minerals Inc. – (TSX-V: REX) (“Orex”), is pleased to announce that it has compiled all available historical data from the Los Crestones Project 100km north of the Sinaloa state capital, Culiacán, Mexico.  Work included analysis of previously sampled but not assayed intervals from diamond drilling by the previous owner. Work has now begun on the 2014 exploration programme which is planned to include surface mapping, sampling and trenching and air/ground geophysics in preparation for a campaign of diamond drilling.  Community negotiations are continuing and expected to run in parallel with the exploration work.

Los Crestones Project
The Project was acquired in 2013 by merger with junior explorer Astral Mining Corporation. Astral optioned the property in early 2011 and had completed a 12 month exploration programme culminating in an 18 hole, 2,618m diamond drilling program late in that year.  Reported results from the first pass drilling, returned a best intercept of 5m averaging 39.1 g/t Au, 93.3 g/t Ag and 2.13% Cu from 55m depth in HQ drillhole 11LD011. True width of this interval from the Bohemia structure is approximately 3.53m.  The project has been maintained but not worked since Astral’s drilling programme.  During 2013 Orex was active in the area, reinforcing positive relations with local communities and is confident of strong community support in the resumption of work.

The Los Crestones project totals 4,168 hectares and is prospective for economic gold, silver and copper mineralization.  The present interpretation of mineralization is that of north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill.  Three main structural zones were targeted in the first phases of work.  Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or “crestons”. In addition several other sub-parallel structures are known on the property and will be further investigated in the coming months. Maximum length on the individual structures to date is 900m.  Current geological maps are available at Orex’s website here.

Los Crestones is located within the highly prospective Gold-Silver Trend of the Sierra Madre Occidental, Western Mexico.  Orex recognizes the favourable structural setting of known showings.  During 2014 Orex plans to significantly enhance geological and structural understanding before drilling commences.

2014 Exploration Programme
The updated project database includes previously unreported drilling results.  During 2013, Orex commissioned the analysis of drill core samples previously submitted to ALS Chemex but cancelled due to lack of available funds.

Results from this work reveal new significant intercepts from Astral’s drilling with a best result of 0.45m grading 45.8 g/t Au, 87 g/t Ag and 2.41% Cu from 32.8m depth in hole 11LD014 (estimated true width 0.35m).  This interval upgrades the significance of the hole which was previously reported with a best value of 1m grading 2.65 g/t Au, 1.7g/t Ag and 0.05% Cu from 60m (estimated true width 0.77m). In addition, 1.5m grading 5.79 g/t Au, 3 g/t Ag and 0.01% Cu from 36m depth in the hole 11LD011 was also returned (estimated true width 1.06m), further enhancing the best hole of the original drilling programme. A full breakdown of updated assay results from the 2011 diamond drilling program is supplied on Orex’s website here.

According to Orex’s President, Gary Cope, “Los Crestones is a prime example of an underexplored, early-stage project located on a highly prospective and proven mineral trend.  The project had seen no modern exploration before Astral, and Orex is very excited to have the chance to make a significant discovery here.”

Full details of previous sampling and a drilling location map have been prepared for the Orex website, www.orexminerals.com

Dale Brittliffe, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release. Mr. Brittliffe oversaw the QA/QC protocols on behalf of Astral Mining during the diamond drilling program in 2011 which included the systematic insertion of analytical standards, blanks and duplicates. Analyses were performed by ALS Chemex. The updated drill data are in agreement with the general tenor of mineralization originally sampled from surface on the main mineralized structures outcropping at Los Crestones.

For more information please see full release including core assay results on our website at:
http://belcarragroup.us3.list-manage.com/track/click?u=9f699317eba805d28202b94e0&id=7bbcbf8194&e=fd472830df

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