Oremex Resources Announces Proposed Private Placement

Oremex Resources Inc. (TSX VENTURE:ORM) reported that the company intends to complete a private placement of units, at a price of $0.11 per unit, for gross proceeds of approximately $1,032,000.

The press release is quoted as saying:

Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company’s most advanced project Tejamen has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006).

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