Oremex Update

About this update from Monarca Minerals Inc.

[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 6 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\nCompany) today provided a progress update for the Tejamen Silver Property\n(Tejamen).\n\n\nThe Company has generated significant support for development of Tejamen\nfrom State, regional and local officials as well as the commercial, health,\neducational and regional sectors and the general populace of Tejamen and Nuevo\nIdeal. In addition, the Federal Minister of Mines has dedicated staff to\nassist with finalization of an agreement.\n\n\nDiscussions with representatives of the Ejido (local village and\nsurrounding lands) continue to progress, although more slowly than\nanticipated. The Company has submitted a conciliatory letter requesting formal\nauthorization for a new relationship and atoning for the mistakes of the past\nadministration of the Company in Mexico. During the year the Company has taken\na number of remediation measures in the village. The law firm of\nPizarro-Suarez & Vazquez has been retained to assist with surface access\nrights to enable project development and subsequent production.\n\n\nTo advance the project technically and provide for future permit\nrequirements the Company has assembled a project team which has continued to\nwork on Tejamen. A new topographical survey of the drill holes been completed\nand plotted and drill holes in the Los Mantos zone have been re-logged and\nre-plotted for consistency.\n\n\nManagement have completed a revised internal analysis to refine the\nscoping study prepared by Snowden Mining Industry Consultants (Snowden) in\nOctober 2006 which contemplated open pit mining from two mineralized zones,\nthe Cerro Prieto and Los Mantos. The revised analysis, based on cost estimates\nfrom Snowden, operating costs of comparable Mexican mines and an internal cost\nsensitive analysis, supports initial production solely from the Los Mantos\nZone which contains 70% of the silver defined to date. Under this plan of\noperations and revised pit outline, disturbance to the village would be\nminimal and it will not be necessary to move the village as contemplated by\nSnowden. Production could proceed in the Los Mantos Zone for four to five\nyears while exploration is conducted to expand near surface resources\nsurrounding that zone.\n\n\nManagement have also reviewed previous work and through reinterpretation\nbel...

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