Business
Oremex Announces Warrant Extension
Oremex Announces Warrant Extension.
About this update from Monarca Minerals Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 14 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\n\"Company\") today announced that it has received regulatory approval to extend\nthe expiry date of 700,000 warrants by three months from March 21, 2007 to\nJune 21, 2007. The exercise price remains $0.65 per warrant. The warrants were\nissued pursuant to a private placement of 1,400,000 shares with 700,000\nnon-transferable share purchase warrants attached which was accepted for\nfiling by the TSX Venture Exchange effective September 20, 2005.\n\n\nThe Company continues to focus on its two key properties: the Tejamen\nSilver Property and San Lucas Property. An independent resource study NI\n43-101 compliant, as reported in April 11, 2006 news release, has concluded\nthat the Tejamen Silver Property contains a silver-equivalent resource of\n50.8 million ounces in a total of 22.6 million tonnes, grading a\nsilver-equivalent of 69.8 grams per tonne (2.04 ounces per ton).\n\n\nAt the San Lucas Property, a 19-hole drill program completed in 2005\noutlined a high grade gold-silver-gold-lead-zinc system in volcanic rocks over\na two-kilometre strike length. A preliminary surface mapping and sampling\nprogram has traced the zone for an additional two kilometres along strike from\nthe original drilling. A 5,000 metre drill program is currently testing\nmineralization along strike and at depth.\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 materially from those\nanticipated in our forward-looking statements. Factors that could cause such\ndifferences include: changes in world commodity markets, equity markets, costs\nand supply of materials relevant to the mining ind...