Business
OREX MINERALS INC. COMPLETES SALE OF CONETO SILVER-GOLD PROJECT TO SILVER VIPER MINERALS
Orex Minerals Inc. (TSXV: REX) ("Orex" or the "Company") is pleased to announce that it has closed its previously announced sale of the Coneto Silver-Gold Project ("Coneto" or the "Project") located in Durango, Mexico (the "Transaction").
About this update from Fresnillo Plc
[{"type":"text","content":"VANCOUVER, BC, May 4, 2026 /CNW/ - Orex Minerals Inc. (TSXV: REX) ("Orex" or the "Company") is pleased to announce that it has closed its previously announced sale of the Coneto Silver-Gold Project ("Coneto" or the "Project") located in Durango, Mexico (the "Transaction").","length":323,"tagName":"p"},{"type":"image","alt":"Orex Minerals Inc. (CNW Group/Orex Minerals Inc.)","displaySize":"","headline":null,"caption":"Orex Minerals Inc. (CNW Group/Orex Minerals Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":364,"height":400,"url":"https://media.zenfs.com/en/cnwgroup.com/c18e76287393e85f19aae94b4f47e7a3"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/X5oAuLUHFKfYURVzppBEAg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTc3NQ--/https://media.zenfs.com/en/cnwgroup.com/c18e76287393e85f19aae94b4f47e7a3","width":364,"height":400}},"href":"https://mma.prnewswire.com/media/2972113/Orex_Minerals_Inc__OREX_MINERALS_INC__COMPLETES_SALE_OF_CONETO_S.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Pursuant to the Transaction, Orex and Fresnillo plc ("Fresnillo", and together with Orex, collectively, the "Vendors") sold all of the outstanding shares of the corporate joint venture which currently holds the Coneto Project to Silver Viper Minerals Corp. (TSX-V: VIPR) ("Silver Viper"). Silver Viper issued an aggregate of 25,531,875 common shares to the Vendors (the "VIPR Shares") in satisfaction of the US$15 million purchase price (C$20,425,500), each VIPR Share issued at a deemed price of C$0.80 per share. The VIPR Shares issued to Orex on closing of the Transaction are subject to a statutory 4-month hold period under applicable Canadian securities laws.","length":705,"tagName":"p"},{"type":"text","content":"John Eren, Chief Executive Officer of Orex, commented:","length":54,"tagName":"p"},{"type":"text","content":""The completion of the Coneto sale marks an important strategic milestone for Orex. Monetizing a non-core asset through equity in Silver Viper allows us to maintain meaningful exposure to Coneto's exploration upside while strengthening our balance sheet and sharpening our focus on advancing our core Sandra Silver-Gold and Jumping Josephine Gold projects. We believe Silver Viper is well positio...