Samples from these first six drill holes have been submitted to ALS
Chemex for assaying. As soon as the Company receives results from the lab,
this information will be communicated to shareholders.
Drilling has begun on the 600-metre long gap between West Goldbrook and
Dolliver Mountain, where three drill holes are planned spaced 200 metres
apart. The Company expects that this current phase of drilling will be
completed in June 2011.
Option on Goldboro Gold Property Granted to Osisko Mining
Corporation
In order to acquire a 50% undivided interest in the Goldboro Gold
Property on or before September 29, 2013 (the Initial Option), Osisko
Mining Corporation shall incur exploration and development expenditures in
the amount of at least $1,500,000 on or before September 29, 2010; in the
aggregate amount of at least $3,500,000 on or before September 29, 2011;
and in the aggregate amount of at least $8,000,000 over the following two
years, that is, on or before September 29, 2013. Osisko Mining Corporation
may, at its sole discretion, accelerate and apply exploration and
development expenditures to future years' expenditures and, accordingly,
the Initial Option may be exercised sooner. Osisko Mining Corporation
shall solely fund a prefeasibility study to earn an aggregate 60% interest
(that is, an additional 10% interest) in the Property on or before
September 29, 2015 (the Additional Option).
About Osisko Mining Corporation
Osisko Mining Corporation is currently moving towards commercial
production at the new Canadian Malartic gold mine in Quebec and is
evaluating adjacent areas for its large-scale open pit, bulk tonnage
mining operation. The Canadian Malartic deposit currently represents one
of the biggest permitted gold reserves in Canada, and is still growing
through ongoing drilling on new mineralized zones.
About Orex Exploration Inc.
Orex Exploration Inc. is a Canadian-based junior resource and
exploration company trading under the symbol OX on the TSX Venture
Exchange and O5D on the Frankfurt Stock Exchange. The Company holds a 100%
interest in the Goldboro Gold Project in Nova Scotia.
