Update on the Status of Tejamen Silver Project

About this update from Monarca Minerals Inc.

[{"type":"text","content":"\n\n\n\nVANCOUVER, May 29 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\nCompany) today provided an update on the status of surface access at their\nTejamen Silver Property (Tejamen), State of Durango, Mexico.\n\n\nBased on a firm decision by the Governor of the State of Durango to\nassist the parties involved, and to achieve social and economic benefits for\nthe region, discussions with the Ejido of Tejamen are being directed by the\nSecretary of State, for the Government Cabinet of Durango. The Secretary of\nState is leading the discussions and is responsible for the timelines to\narrive at a resolution in the near term. He has been assigned by Durango's\nGovernor to take this negotiation with the Ejido to a satisfactory conclusion.\nThe Company has presented terms for settlement that are similar to a recent\nagreement arrived at between another mining company and the local village in\nthe vicinity of its mine. The Company is in daily contact with senior\nrepresentatives of the federal and state governments, who are assisting the\nSecretary of State.\n\n\nTejamen has an Inferred mineral resource of 50.8 million ounces of silver\nin a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams\nper tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden\nMining Industry Consultants completed a Preliminary Assessment Study (NI\n43-101 compliant October 2006) demonstrating that the project can support a\n10,000 tonne per day open pit, heap leach mining operation. The Company is\nlooking forward to a final resolution that is in the best interests of all\nparties.\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 d...

More updates from Monarca Minerals Inc.