Business
Oremex Announces Investor Relations Agreement
Oremex Announces Investor Relations Agreement.
About this update from Monarca Minerals Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, May 8 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\n"Company") announced that it has entered into an agreement for investor\nrelations services for an initial six month period with Mr. Garth McTavish.\nWith over 20 years of experience in the investment industry, Mr. McTavish has\nan extensive network of contacts in investment circles and solid experience in\ninvestor relations.\n\n\nIn consideration for services the Company will pay a monthly fee of\n$3,750 and a grant of 150,000 share purchase options to Mr. McTavish under the\nincentive stock option plan. The options are exercisable at a price of $0.56\nper share for a period of five years and will vest in quarterly increments\nover the next 12 months.\n\n\nThe Company has completed a 5,000-metre drill program at its San Lucas\nProperty, testing extensions down dip and along trend of mineralization. A\n3,000-metre drill program completed in 2005 outlined gold-silver-lead-zinc\nmineralization over a strike length of 2 kilometres with widths up to\n70 metres of a mineralized zone that has been mapped for over 4 kilometres.\nResults are pending.\n\n\nIn addition, the Company is continuing discussions with the Ejido\n(governing authority for the village and surrounding lands) at the Tejamen\nSilver Property while pursuing access to surface rights through applicable\nfederal laws. Tejamen contains a 43-101 compliant (April 2006) resource of\n50.8 million ounces of silver and, according to a 43-101 compliant (October\n2006) preliminary assessment study, can support a large open pit, heap leach\noperation.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy and accuracy of this release.\n\n\nNational Instrument 43-101 requires the following statement: that the\npreliminary assessment is preliminary in nature, that it includes inferred\nmineral resources that are considered too speculative geologically to have the\neconomic considerations applied to them that would enable them to be\ncategorized as mineral reserves, and there is no certainty that the\npreliminary assessment will be realized.\n\n\nForward-Looking Statements: The above contains forward-looking statements\nthat are subject to a number of known and unknown risks, uncertainties and\nother factors that may cause actual results to differ mate...