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14-Nov-14

Orex Concludes 2014 Fieldwork on the Jumping Josephine Gold-Silver Project

Vancouver, BC - Orex Minerals Inc. - (TSX-V: REX) ("Orex"), has completed field activities on its 100% owned Jumping Josephine property, in southern British Columbia. Work undertaken during the 2014 field season included diamond drilling, geological mapping and trenching. Drilling activities are complete and equipment has demobilized from site. Core splitting and sampling is expected conclude in the next week. Complete assay results from the 2014 drilling are not expected until late December.

Orex's President, Gary Cope says, "Jumping Josephine is a large, prospective mineral property in an under-explored corner of British Columbia. The project hosts a modest 43-101 compliant gold resource in one location and a range of highly prospective, mineralized structures in other parts of the project."

Drilling
The 2014 season saw a total of 8,115m completed in 25 HQ and NQ diameter drill holes in an aggressive exploration campaign targeting prospective areas across the Jumping Josephine property. The program was divided into two phases. Nine holes targeted extensions beneath the existing 43-101 compliant gold resource at Jumping Josephine (JJ Main area - 9 holes for 3,903m). The second phase comprised 16 reconnaissance holes and tested several additional prospects and showings (16 holes for 4,212m).

Prospect Area Meterage Hole Count
JJ Deeps 3,903 9
JJ Main Extension 384 3
Golden Crown 1,017 3
BZT 1,068 3
Borrow Pit 198 1
JJ West 825 3
Hillside 720 3
TOTAL 8,115 25

Orex has received partial results from the 2014 drilling and assays from the first phase, JJ Deeps, are now returned and compiled. Phase one comprised step-out drilling on five sections and aimed to intersect mineralization down-dip, beneath the existing resource at JJ Main. Drilling successfully intersected the expected mineralized zone in most cases though increased faulting and dyke emplacement was noted and significant gold mineralization was not identified.

Full results from reconnaissance drilling on other targets are still outstanding and will be announced once received and compiled.

Trenching
Orex cleaned and resampled five trenches located on the surface expression of the JJ Main Gold Zone during 2014. This due-diligence work confirmed strong gold mineralization reported by the previous operator.

Field staff re-excavated, cleaned and mapped the old trench sites. The trenches were measured and marked and continuous channel samples of one metre each were collected using a gas-powered diamond saw. Original sample markings and tags had been degraded to such an extent that they were not considered useful. The 2014 sample intervals and locations were determined by the site geologist in the field and are considered to represent an independent confirmation of the mineralized zone in each trench. Sample co-ordinates were located accurately by the survey crew and, in contrast to the previous surface sampling in the area, may be used in any new resource calculations.

2014 Orex Sampling 2006 Historical Sampling
Trench Length^ (m) Au (g/t) Ag (g/t) Au-Eq+ (g/t) Trench Length^ (m) Au (g/t) Ag (g/t) Au-Eq+ (g/t)
TR-02 8 6.34 2.7 6.39 TR-02 5 19.20 16.9 19.48
Includes 4 12.33 4.8 12.41 includes 3 30.64 26.5 31.08
Includes 1 35 8.1 35.14 includes 1 49.36 63.9 50.43
               
TR-2a 7 80.18 706 92.0 TR-2a 7 31.19 29.6* 31.68*
Includes 3 185.1 1643 212 includes 1 133.91 59.9 134.91
Includes 1 523 4200 593 and 2 40.63 71.7* 41.83*
               
TR-2c 7 6.32 2.2 6.36 TR-2c 8 13.25 3.3 13.30
Includes 4 10.22 2.8 10.27 includes 4 25.34 6.0 25.44
Includes 1 23.3 6.8 23.41 includes 1 66.91 16.3 67.18
               
TR-03 (NW) 9 4.77 1.7 4.80 TR-03 (NW) 10 5.05 2.7 5.09
Includes 3 12.08 2.6 12.12 includes 3 4.03 5.0 4.11
Includes 1 26.4 2.9 26.45 and 1 28.27 4.3 28.34
               
TR-03 (SE) 5 6.3 4.9 6.38 TR-03 (SE) 7 8.42 3.0 8.47
Includes 3 9.73 7.5 9.86 includes 3 18.50 6.2 18.60
Includes 1 25.3 10.7 25.48 includes 1 48.28 17.7 48.58
^ True widths estimated to be 95% of the quoted sample length.
+ Gold equivalent calculated using a silver:gold ratio of 60.
* Historical results include a one metre sample capped at 100ppm Ag, no overlimit analysis was performed.


Orex's 2014 JJ Main area trench re-sampling confirms significant gold mineralization at surface as described by the previous operator. Variations in the results suggest a coarse gold effect, which was expected. Screen metallic analyses were performed on the channel samples and confirm a significant nugget effect with a large proportion of contained gold reporting to the coarse fraction (>100 microns).

Jumping Josephine Gold-Silver Project, British Columbia, Canada

The Jumping Josephine Project totals approximately 11,667 hectares and is located in Southern British Columbia, 20 km west of Castlegar and 25 km north of the historic Rossland Gold Camp. The project, originally assembled in 2004 by Kootenay Silver Inc. ("Kootenay"), was optioned to Astral Mining Corp. ("Astral") in 2005. In 2013, Astral merged with Orex (news release February 3rd 2013) and in 2014 the remaining interest in Jumping Josephine was acquired from Kootenay by Orex (news release February 5th 2014).

Exploration between 2006 and 2011 included surface mapping, geochemistry, geophysics, and the completion of 140 diamond drill-holes. Work on the JJ Main showing culminated in the estimation of a 43-101 compliant resource calculated by Apex Geoscience Ltd. ("Apex").

Apex estimates an Indicated mineral resource of 363,000 tonnes averaging 2.95 g/t Au for 34,000 oz and Inferred mineral resource of 448,000 tonnes averaging 2.08 g/t Au for 30,000 oz using a 0.5g/t cutoff grade. The effective date of the resource estimate is March 24th, 2011. The 43-101 Technical Report authored by A.J. Turner P.Geol, M. Dufresne, P.Geol and S. Nicholls, M.AIG. has been filed by Orex and is available on SEDAR and the Orex website.

All samples submitted for analysis were subject to Orex's QA/QC protocols which include industry standard sampling methods and the insertion of blanks and gold/silver standards into the sample stream. Dale Brittliffe, P.Geo. is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained in this news release.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo plc.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

For further information, please contact Orex Minerals Inc. at (604) 687-8566,
email info@orexminerals.com or visit our website at 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 and Orex undertakes no obligation to update such statements, except as required by law.

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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