|
TORONTO, ONTARIO--(Marketwire - Aug. 19, 2009) - Oremex
Resources (TSX VENTURE:ORM) is pleased to
provide an update on the infrastructure and community works program
initiated within the Community of Tejamen. The
program has been successfully implemented with several projects
completed. The community has responded positively to both the
employment opportunities and the resulting improvements that have been
carried out. The program is funding and creating employment for local
residents to carry out refurbishment, beautification, and
infrastructure repairs within the community.
To date over sixty individuals have been employed on a rotating basis
completing work being funded by Oremex. During
any given week, fourteen to seventeen people are employed with work
administered by the Tejamen Municipality
President. Materials are provided and purchased by the company. The
work to date has consisted of cleaning and removing trash from the
immediate area of dwellings, schools, roads, and Tejamen
Creek. Trash has been removed and deposited in a local landfill.
Additionally, fence repair work has been completed at the boundary
between the Ejido and a private ranch. Road
and bridge repairs are about to commence with materials supplied by the
Municipality
of Nuevo Ideal.
Chief Executive Officer Michael R. Smith stated: "The targeted
infrastructure program within the community is being carried out as
planned, with more extensive projects due to commence. In addition to
the economic benefits, the program is generating goodwill and
strengthening the company's relationship with the community. Through
this positive working relationship that has been expanding, we continue
to move closer toward the objective of furthering development on the Tejamen silver deposit."
About Oremex
Oremex is a Canadian-based exploration
company with a focus on the acquisition and development of mineral
properties in Mexico.
The Company's principal properties are the Tejamen
and San Lucas properties located in the State of Durango
and the Cuyoaco Property in the State of Puebla. 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). Snowden Mining Industry Consultants completed a
Preliminary Assessment Study (NI 43-101 compliant October 2006)
demonstrating that the project can support a 10,000 tonne per day open
pit, heap leach mining operation.
National Instrument 43-101 requires the following statement: that the
preliminary assessment is preliminary in nature, that it includes
inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that
would enable them to be categorized as mineral reserves, and there is
no certainty that the preliminary assessment will be realized.
Forward-Looking Statements: The above contains forward-looking
statements that are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward-looking statements. Factors
that could cause such differences include: changes in world commodity
markets, equity markets, costs and supply of materials relevant to the
mining industry, change in government and changes to regulations
affecting the mining industry. Forward-looking statements in this
release include statements regarding future exploration programs,
operation plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations
reflected in our forward-looking statements are reasonable, results may
vary, and we cannot guarantee future results, levels of activity,
performance or achievements. The Company undertakes no obligation to
update forward-looking statements should conditions or opinions change.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
|