VANCOUVER, April 24, 2015 /CNW/ - Orex Minerals Inc. –
(TSX-V: REX) ("Orex") would like to provide an update regarding
Orex's Barsele Gold Project located in Sweden.
On April 21, 2015, Orex received
decisions from the Mining Inspectorate in Sweden granting the renewal of three important
mineral exploration permits at the Barsele Gold Project.
Orex today also obtained a $600,000 loan from Agnico Eagle Mines Limited
("Agnico"). Principal and interest on the loan is payable on the
earlier of (i) April 24, 2016, and
(ii) the closing date of the proposed transaction with Agnico
previously described in Orex's press release dated February 23, 2015. Orex expects the
transaction to close in May.
Completion of the proposed transaction remains subject to the
execution of definitive agreements, the approval of the TSX Venture
Exchange and all other regulatory, corporate and security holder
requirements.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior
exploration company comprised of highly qualified mining
professionals. The Company has several current projects: the
Barsele Gold Project in Sweden,
the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Jumping Josephine
Gold-Silver Project in British
Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under
option to Fresnillo Plc.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
This News Release may contain forward-looking statements
including but not limited to comments regarding the proposed
transaction with Agnico. Actual results may differ materially from
those currently anticipated in such statements and Orex undertakes
no obligation to update such statements, except as required by
law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Orex Minerals Inc.