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23-Mar-16

Orex Intercepts 32 Metres Grading 255 g/t Silver and Commences Phase-II Diamond Drilling on the Sandra Escobar Silver Project in Durango, Mexico

Vancouver, BC - Orex Minerals Inc. - (TSX-V: REX) ("Orex"), is pleased to announce that the Phase-II diamond drilling program has started on the Sandra Escobar Project in Durango, Mexico. Assays for four more drill holes from the Phase-I program are also now available. These include holes SA-15-007 to SA-16-010 in the southeastern region of the project. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. - (TSX.V: CLZ) ("Canasil").

Highlight for this batch of holes is SA-16-009, which yielded 32 metres core length (30 m true thickness) grading 255 g/t silver, starting 10 metres vertically below surface. Within this is a sub-interval of 9 metres (8.44 m true thickness) grading 673 g/t silver.

Holes SA-16-007 and 008, located about 100 metres east of SA-16-009, encountered a northwesterly fault offset of the mineralized unit, thus the holes clipped the edge of the block. Additional holes are planned further to the east of this fault where the mineralized unit is exposed at surface.

Hole SA-16-010 is on the same section as SA-16-009 (local grid 4930 E), but drilled in the opposite direction to the south. It confirms the mineralized horizon unit is present, however, in hole 010 the unit is a little less permeable. Variations in permeability in the volcaniclastic host rock are to be expected. Hole SA-16-010 yielded an intercept of 29.50 metres (25 m true thickness) grading 59 g/t silver. Within this is a sub-interval of 7 metres (5.93 m true thickness) grading 104 g/t silver.

Sandra Escobar Project - 2015-2016 Diamond Drilling Program - Holes 7 to 10
Hole From (m) To (m) Core Length (m) True Thick. (m) Ag (g/t) FA
           
SA-16-007 14.00 19.00 5.00 4.00 112
  Includes 14.00 16.00 2.00 1.60 197
  Includes 14.00 15.00 1.00 0.80 234
           
SA-16-008 11.00 17.00 6.00 4.80 143
  Includes 12.00 16.00 4.00 3.20 182
  Includes 13.00 14.00 1.00 0.80 320
           
SA-16-009 11.00 43.00 32.00 30.00 255
  Includes 22.00 42.00 20.00 18.75 377
  Includes 27.00 36.00 9.00 8.44 673
  Includes 30.00 31.00 1.00 0.94 1,273
           
SA-16-010 18.00 47.50 29.50 25.00 59
  Includes 27.00 38.00 11.00 9.32 87
  Includes 31.00 38.00 7.00 5.93 104
  Includes 34.00 35.00 1.00 0.85 141
           

Orex's President, Gary Cope says, "Our understanding of the high-grade silver mineralization at Sandra Escobar continues to grow. Still to come are the results for 7 more holes from the Phase-I drilling program, as well as the new drill holes from Phase-II."

The Phase-II drilling program, consisting of 3,000 metres in about 20 drill holes, commenced on March 16th 2016, with hole SA-16-018. Kluane Drilling Ltd. provides the drilling services utilizing an environmentally low-impact KD-1000 man-portable diamond drill rig.

Silver mineralization is hosted on the north side of a rhyolite volcanic dome. An altered and highly permeable volcaniclastic unit contains disseminations of silver bearing minerals and broadly spaced stockwork veinlets. The current working model has a porphyritic rhyolite unit as an impermeable cap, which may have focused mineralizing fluids into the host permeable volcaniclastic unit.

True thicknesses are estimated based on structural and stratigraphic interpretations. A map showing the locations of the drill holes and a sample cross section are available on the Orex website.

Orex maintains a QA/QC sampling protocol for the diamond drilling program, including the insertion of commercial analytical standards and blank samples. Analytical testing is performed by SGS Mineral Services. Silver values are determined by fire assay with an atomic absorption finish. Multi-element analyses are also determined using a 4-acid digestion and ICP-MS (Inductively Coupled Plasma Mass Spectrometry).

Sandra Escobar Silver-Gold Project, Durango, Mexico

Sandra Escobar is situated north of the town of Tepehuanes, Durango, in the heart of the "Mexican Silver Trend", midway between the mining districts of Tovar and Guanacevi and is 75 km west of Silver Standard's La Pitarrilla. This prolific trend hosts some of the world's largest silver camps and deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles and Zacatecas.

The project consists of 6,976 hectares of mineral concessions and covers multiple mineralized epithermal quartz veins and breccia structures. These veins form a high level silver-gold-base metals system, hosted in andesitic and rhyolitic rocks, centered on a large rhyolite dome complex in the north and silver systems in smaller rhyolite dome complexes to the southeast. Intense alteration zones and fluid flooding in permeable formations indicates the presence of bulk tonnage targets. Excellent infrastructure exists in the Sandra Escobar area, including paved road access, electrical power, water and manpower from nearby communities.

Dale Brittliffe, P.Geo., and Ben Whiting, P.Geo., are Qualified Persons, as defined in NI 43-101, and take responsibility for the technical disclosure contained within this news release.

ABOUT OREX MINERALS INC.

Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Orex has several current projects: the Coneto Gold-Silver Project in Durango, Mexico, a joint venture with Fresnillo PLC, the Jumping Josephine Gold-Silver Project in British Columbia, Canada, plus this newest Sandra Escobar Silver Project in Durango, Mexico, with Canasil Resources Inc.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

For further information, please contact Orex Minerals Inc. at (604) 687-8566 x227, 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.
 
 

You can view the Next News item: Thu Apr 14, 2016, Native Silver Identified on the Sandra Escobar Project in Durango, Mexico: Orex Intercepts 44 Metres Grading 129 g/t Silver

You can view the Previous News item: Tue Feb 23, 2016, Orex Hits High-Grade Again, Including 37 Metres Grading 328 g/t Silver on the Sandra Escobar Project in Durango, Mexico

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