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Orex Announces 5,302,500 Brokered Private Placement

Vancouver, B.C. - Orex Minerals Inc. ("Orex" or the "Company") - REX: TSX-V announces that it has arranged a brokered private placement with a syndicate of agents co-led by PI Financial Corp. and Haywood Securities Inc. (collectively, the "Agents"). The offering shall consist of the issuance of up to17,675,000 units ("Units") at a price of $0.30 per Unit to raise up to $5,302,500 (the "Offering"). Each Unit is comprised of one common share and one-half of a transferable share purchase warrant. Each whole warrant is exercisable into an additional common share for a period of two years from closing at a price of $0.40 per share. The Agents have also been granted an option to place up to an additional 3,535,000 Units at any time up to closing.

As compensation, the Agents will receive a commission of 7% of the gross proceeds raised, payable in cash, in Units or in a combination of both, at the election of the Agents and in accordance with the policies of the TSX Venture Exchange. In addition, the Agents will be granted compensation options ("Compensation Options") equal to 9% of the total number of Units sold under the Offering. Each Compensation Option consists of one common share exercisable at any time for a period of two years after the closing date at a price of $0.35 per share.

All securities issued under the private placement are subject to a hold period expiring four months and one day from the closing date.

The private placement is subject to the acceptance of the TSX Venture Exchange.

Orex will use the net proceeds of these financings to advance exploration and development of its Santa Cruz mineral property in Mexico and for general working capital purposes.

About Orex Minerals Inc.

Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties in Mexico and northern Peru.

Gary Cope
President & CEO

For further information, contact Orex Minerals Inc. at (604) 684-4691 or Via email at or visit our website on line at www.orexminerals.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release. 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. Forwardlooking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orex relies upon litigation protection for forward-looking statements.

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Orex Minerals Inc.