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17-Mar-10

Orex's Coneto Project Continues to Yield High Gold and Silver Values


Vancouver, B.C. - Orex Minerals Inc. - (REX: TSX-V) is pleased to present a third progress report on the geological program at the Coneto gold-silver mining camp in Durango State, Mexico.

The surface geological and geochemical program has continued to yield high grade gold and silver results on multiple veins. In order to better define drilling targets, the southeastern, central and western regions of the property have undergone detailed mapping and sampling. This testing clearly illustrates parallel mineralized structures carrying gold and silver, as well as other pathfinder elements.

In this third release of information, the focus is on the Loma Verde sector west of the village of Coneto de Comonfort and Promontorio Sur sector to the southeast.

Gary Cope, President of Orex, says; "We are very pleased with the results to date for gold and silver. These results demonstrate strong mineralization in many veins at Coneto and expand our understanding of the drilling targets. A contract has been awarded to Major Drilling for a Phase-I diamond drilling program."

The initial two updates of results were published in news releases dated 17 November 2009 and 11 January 2010. The highlights in the table below are in addition to those previously released. Gold and silver vary from sector to sector on the property, thus both silver-equivalent and gold-equivalent are presented.

Over 40 epithermal silver-gold vein structures have been identified at Coneto. Key highlights for this news release include surface channel samples in the Loma Verde, Promentorio and Promentorio Sur sectors, underground channel samples in Mina Impulsora and Mina Estrella, plus favourable signs of mineralization from prospecting related grab samples in the Loma Verde and Palma sectors.

Surface results included Loma Verde #6031 with a true width 1.0 m grading gold 21.20 g/t and silver 214 g/t for a silver-equivalent of 1,486 g/t, or gold-equivalent of 24.77 g/t. Loma Verde #5863 yielded 0.6 m grading gold 12.40 g/t and silver 501 g/t for a silver-equivalent of 1,245 g/t, or gold-equivalent of 20.75 g/t.

High grade at Promontorio #6309 yielded 2.4 m grading gold 9.90 g/t and silver 14 g/t for a silver-equivalent of 608 g/t, or gold-equivalent of 10.13 g/t. Promontorio Sur #5778 yielded 1.2 m grading 7.39 g/t and silver 33 g/t for a silver-equivalent of 476 g/t, or gold-equivalent of 7.94 g/t. Promentorio and Promentorio Sur are gold dominant sectors and are target areas for bulk tonnage.

Surface rock sampling highlights - December 15, 2009, to January 31, 2010
Sector Sample Number Rock Type Sample Type True Width (m) Au (g/t) Ag (g/t) AgEq (g/t) AuEq (g/t)
                 
Prom. Sur 5774 VNBX Channel 2.0 1.43 28.0 113.8 1.90
Prom. Sur 5778 VEIN Channel 1.2 7.39 33.0 476.4 7.94
Prom. Sur 5781 BRXX Channel 2.4 1.27 26.0 102.2 1.70
Prom. Sur 5783 VNBX Channel 1.8 3.14 31.0 219.4 3.66
Prom. Sur 5786 RDVT Channel 2.2 0.96 53.0 110.7 1.85
Prom. Sur 5788 VEIN Channel 2.0 2.26 17.0 152.6 2.54
Prom. Sur 5791 VNBX Channel 2.0 3.09 22.0 207.4 3.46
Prom. Sur 5795 RDVT Channel 1.8 1.10 92.0 158.0 2.63
Loma Verde 5859 ANVT Channel 1.6 0.82 97.0 146.1 2.43
Loma Verde 5860 ANVT Channel 0.8 0.51 210.0 240.6 4.01
Loma Verde 5863 ANVT Channel 0.6 12.40 501.0 1245.0 20.75
Loma Verde 5864 ANVT Channel 1.6 0.43 82.0 107.8 1.80
Loma Verde 5865 ANDS Channel 2.0 0.36 135.0 156.3 2.61
Loma Verde 5866 VEIN Channel 0.7 0.77 96.0 142.3 2.37
Loma Verde 5867 ANVT Channel 2.5 1.36 207.0 288.6 4.81
Loma Verde 5868 VEIN Channel 1.0 1.50 235.0 325.0 5.42
Loma Verde 5895 ANVT Channel 1.5 0.30 161.0 179.2 2.99
Loma Verde 5900 ANVT Channel 2.0 0.20 219.0 231.1 3.85
Loma Verde 5909 ANVT Channel 1.0 0.84 53.0 103.5 1.73
Loma Verde 5911 ANVT Channel 1.6 0.17 117.0 127.4 2.12
Loma Verde 5912 ANVT Channel 0.9 0.59 111.0 146.1 2.44
Loma Verde 5967 ANVT Channel 1.2 0.06 224.0 227.4 3.79
Loma Verde 6031 VEIN Channel 1.0 21.20 214.0 1486.0 24.77
Loma Verde 6290 ANVT Channel 2.0 0.07 159.0 162.9 2.72
Promontorio 6299 BRXX Channel 1.5 3.98 227.0 465.8 7.76
Promontorio 6305 BRXX Channel 1.4 1.28 56.0 132.8 2.21
Promontorio 6309 STWK Channel 2.4 9.90 14.0 608.0 10.13
Promontorio 6310 STWK Channel 2.5 2.77 15.0 181.2 3.02
Promontorio 6312 STWK Channel 2.7 7.20 5.0 437.0 7.28
Promontorio 6327 BRXX Channel 2.5 0.24 129.0 143.4 2.39
Promontorio 6328 BRXX Channel 1.6 0.77 143.0 188.9 3.15
Durazno 6364 ANVT Channel 2.0 1.33 91.0 170.8 2.85
Durazno 6369 ANVT Channel 2.5 1.21 31.0 103.6 1.73
Durazno 6370 ANDS Channel 3.0 1.27 46.0 122.2 2.04
Loma Verde 6373 ANVT Channel 1.6 0.07 140.0 144.0 2.40
Loma Verde 6396 ANVT Channel 2.2 0.51 109.0 139.5 2.32
Loma Verde 6397 ANVT Channel 2.0 2.24 214.0 348.4 5.81

An examination of the old, narrow drifts and crosscuts of Mina Impulsora and Mina Estrella also illustrate good target areas. Highlights include Mina Impulsora #5038 which yielded 0.6 m grading gold 5.82 g/t and silver 571 g/t for a silver-equivalent of 920 g/t, or gold-equivalent of 15.34 g/t. Mina Estrella #668 yielded 0.6 m grading gold 8.57 g/t and silver 465 g/t for a silver-equivalent of 979 g/t, or gold-equivalent of 16.32 g/t.

Underground rock sampling highlights - December 15, 2009, to January 31, 2010
Sector Sample Number Rock Type Sample Type True Width (m) Au (g/t) Ag (g/t) AgEq (g/t) AuEq (g/t)
           
Impulsora 5034 VEIN Channel 2.0 1.08 45.0 109.8 1.83
Impulsora 5035 VEIN Channel 0.5 2.26 252.0 387.6 6.46
Impulsora 5037 VEIN Channel 0.7 1.00 69.0 129.0 2.15
Impulsora 5038 BRXX Channel 0.6 5.82 571.0 920.2 15.34
Impulsora 5039 VEIN Channel 0.7 1.24 99.0 173.4 2.89
Impulsora 5041 BRXX Channel 0.9 1.33 122.0 201.8 3.36
Impulsora 5042 VEIN Channel 0.8 0.91 243.0 297.4 4.96
Impulsora 5043 VEIN Channel 0.7 1.01 157.0 217.6 3.63
Impulsora 5045 BRXX Channel 0.7 1.95 176.0 293.0 4.88
Impulsora 5052 BRXX Channel 0.8 2.38 305.0 447.8 7.46
Impulsora 5056 BRXX Channel 0.8 0.84 141.0 191.2 3.19
Impulsora 534 BRXX Channel 2.1 1.58 192.0 286.8 4.78
Mina Estrella 662 BRXX Channel 1.6 2.46 239.0 386.6 6.44
Mina Estrella 664 BRXX Channel 1.2 1.16 41.0 110.6 1.84
Mina Estrella 666 BRXX Channel 0.8 4.63 316.0 593.8 9.90
Mina Estrella 668 BRXX Channel 0.6 8.57 465.0 979.2 16.32
Mina Estrella 669 ANVT Channel 0.5 1.78 53.0 159.8 2.66
Mina Estrella 671 BRXX Channel 1.1 1.34 118.0 198.4 3.31
Mina Estrella 672 BRXX Channel 1.7 0.78 82.0 128.9 2.15
Mina Estrella 706 BRXX Channel 0.5 3.31 300.0 498.6 8.31
Mina Estrella 708 ANVT Channel 0.7 0.40 80.0 104.1 1.73
Mina Estrella 712 ANVT Channel 1.0 1.41 63.0 147.6 2.46

Prospecting includes sampling the "terreros" rock piles adjacent to old mine workings. In the Loma Verde sector, Gambusino #643 grab sample graded gold 1.37 g/t and silver 1,250 g/t for a silver-equivalent of 1,332 g/t, or gold-equivalent of 22.20 g/t. Loma Verde sector, Ortadeña #644 grab sample graded gold 1.58 g/t and silver 771 g/t for a silver-equivalent of 866 g/t, or gold-equivalent of 14.43 g/t.

Terrero rock sampling highlights - December 15, 2009, to January 31, 2010
Sector Sample Number Rock Type Sample Type True Width (m) Au (g/t) Ag (g/t) AgEq (g/t) AuEq (g/t)
                 
Impulsora 5034 VEIN Channel 2.0 1.08 45.0 109.8 1.83
Impulsora 5035 VEIN Channel 0.5 2.26 252.0 387.6 6.46
Impulsora 5037 VEIN Channel 0.7 1.00 69.0 129.0 2.15
Impulsora 5038 BRXX Channel 0.6 5.82 571.0 920.2 15.34
Impulsora 5039 VEIN Channel 0.7 1.24 99.0 173.4 2.89
Impulsora 5041 BRXX Channel 0.9 1.33 122.0 201.8 3.36
Impulsora 5042 VEIN Channel 0.8 0.91 243.0 297.4 4.96
Impulsora 5043 VEIN Channel 0.7 1.01 157.0 217.6 3.63
Impulsora 5045 BRXX Channel 0.7 1.95 176.0 293.0 4.88
Impulsora 5052 BRXX Channel 0.8 2.38 305.0 447.8 7.46
Impulsora 5056 BRXX Channel 0.8 0.84 141.0 191.2 3.19
Impulsora 534 BRXX Channel 2.1 1.58 192.0 286.8 4.78
Mina Estrella 662 BRXX Channel 1.6 2.46 239.0 386.6 6.44
Mina Estrella 664 BRXX Channel 1.2 1.16 41.0 110.6 1.84
Mina Estrella 666 BRXX Channel 0.8 4.63 316.0 593.8 9.90
Mina Estrella 668 BRXX Channel 0.6 8.57 465.0 979.2 16.32
Mina Estrella 669 ANVT Channel 0.5 1.78 53.0 159.8 2.66
Mina Estrella 671 BRXX Channel 1.1 1.34 118.0 198.4 3.31
Mina Estrella 672 BRXX Channel 1.7 0.78 82.0 128.9 2.15
Mina Estrella 706 BRXX Channel 0.5 3.31 300.0 498.6 8.31
Mina Estrella 708 ANVT Channel 0.7 0.40 80.0 104.1 1.73
Mina Estrella 712 ANVT Channel 1.0 1.41 63.0 147.6 2.46

Maps of the geochemical program can be found on the Orex website at the following address: www.orexminerals.com

The first three interim reports cover 752 B-horizon soil, 1,215 rock channel, 656 rock chip and 64 rock grab totaling 2,731 samples, ranging from trace to 21.20 g/t for gold and trace to 1,750 g/t for silver. SGS Mineral Services, a certified commercial laboratory in Durango, Mexico, performed the analytical testing by fire assay with atomic absorption finish, and multi-element inductively coupled plasma analyses. A QA/QC program is in place for sample collection through to laboratory analysis. Host rock is primarily andesite of the Triassic Lower Volcanic Group. Sample rock type abbreviations used in this news release are ANDS andesite, ANVT andesite with quartz veinlets, BRXX breccia, RDVT rhyodacite with quartz veinlets, STWK stockwork, VEIN quartz vein, VNBX vein breccias and VNST vein stockwork.

Located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains, Coneto is centrally positioned in the "Mexican Silver Trend". This silver trend, stretching from Guanajuato in the southeast, through the states of Zacatecas and Durango, hosts some of the World's largest silver deposits, including the Real de Angeles, Zacatecas, Fresnillo, La Preciosa, and La Pitarrilla mining camps.

Ben Whiting, P.Geo., is the Qualified Person as defined in NI43-101 and takes responsibility for the technical disclosure in this news release.

Silver-equivalent for the purposes of this news release is defined as silver grade plus 60 times gold grade. Gold-equivalent is defined as gold grade, plus silver divided by 60. The 60:1 ratio is based on the average gold:silver price ratio over 10 years on the London Metal Exchange. Metallurgical recoveries and net smelter returns are assumed to be 100% for the equivalent values. Base metal values are not included in the equivalent values.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

For further information, contact Orex Minerals Inc. at (604) 687-6310,
email info@orexminerals.com or visit our website at < htref="http://www.orexminerals.com'>www.orexminerals.com

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. Forward-looking 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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