Orex Minerals Inc.
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Orex Minerals Inc.

Orex Announces $3,722,400 Non-Brokered Private Placement


Orex Minerals Inc. ("Orex" or the "Company") announces that it is proceeding with a non-brokered private placement of units (the "Offering") for aggregate gross proceeds of up to approximately $3,722,400. The Offering consists of 4,653,000 units at a price of $0.80 per unit, with each unit consisting of one common share and one half share purchase warrant. Each whole warrant is exercisable for one common share at a price of $1.00 for a period of two years from closing of the Offering. The Company will pay a finder's fee of 7.0 % in accordance with the policies of the TSX Venture Exchange. All securities issued under the Offering are subject to a hold period under securities law of four months and a day from the date of the closing of the Offering.

The Offering is anticipated to close on March 4, 2011. The closing of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Orex intends to use the net proceeds of the Offering to fund exploration of the Barsele mineral property in Sweden, its Las Mesas project in Mexico, and also for general working capital.


Gary Cope, President
Orex Minerals Inc.

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 Sweden.

Suite 1180 - 999 West Hastings Street, Vancouver, BC, Canada V6C 2W2
Phone: 604.687.6310 Fax: 604.687.6365 Email: info@orexminerals.com

The units, common shares and warrants have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Certain of the statements made and information contained herein, including the use of proceeds, is "forward-looking information" within the meaning of applicable Canadian securities legislation or "forward-looking statements" within the meaning the Securities Exchange Act of 1934 of the United States. Generally, these forward-looking statements or information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described under risk factors in the Company's management discussion and analysis. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. The forward-looking information contained herein is presently for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate

For further information, contact Orex Minerals Inc. at (604) 687-6310 or via email at info@orexminerals.com or visit our website at www.orexminerals.com

You can view the Next News item: Fri Mar 4, 2011, Orex Closes 4,653,000 Unit Non-Brokered Private Placement

You can view the Previous News item: Mon Feb 28, 2011, Indicated Mineral Resources of 382,000 gold ounces and Inferred Mineral Resources of 648,000 gold ounces at the Barsele Gold Project, Sweden

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Orex Minerals Inc.