TXX Tirex Resources Ltd.

Tirex Resources Ltd. ("Tirex") (TSX VENTURE:TXX) is pleased to announce that it
has closed a first tranche of the equity financing that was announced on
November 5th, 2012.


The financing is being conducted as a non-brokered private placement at $0.70
per share.


Tirex has closed on a first tranche of this financing, for gross proceeds of
$1,208,120 through the sale of 1,725,886 common shares at $0.70 per share.


In addition to the funds being raised in this private placement, Tirex has
approximately $1,910,000 undrawn under its facility with the European Bank for
Reconstruction and Development ("EBRD"), a facility described in previous Tirex
News Releases. Tirex is also pleased to announce that it has just applied to the
EBRD to draw down this $1,910,000.


As detailed in previous News Releases, Tirex's transition into production is
fully financed via a unique Mining Partnership Agreement with no corresponding
share dilution to Tirex shareholders (see previous Tirex News Releases for
details as to this Mining Partnership).


The proceeds from the current ongoing private placement financing are earmarked
for exploration targeting new discoveries in areas of Mirdita outside of the
Mining Partnership.


On October 29th, 2012, Tirex announced that Albania's Ministry of Economy, Trade
and Energy had approved the company's applications to transition six specific
areas of the company's Mirdita VMS District from exploration licenses into 25
year mining exploitation licenses. Tirex will focus concurrently on both the
company's planned transition into production and on exploration in areas of the
Mirdita District not yet exposed to large scale, modern, systematic exploration.


Finder's fees payable in connection with the above are $57,820 and 118,000
finders warrants exercisable for 2 years at $0.70 per share. All shares sold
under the private placement, and the finders' warrants, will be subject to
resale restrictions expiring four months from the date of issue.


On Behalf of Management,

Bryan J. Slusarchuk, Chief Executive Officer

Forward-Looking Statements. This News Release may contain certain
"forward-looking" statements and information relating to Tirex. Such statements
include but are not limited to statements about the exploitation licenses, the
Partnership Agreement, the production arrangements and the timing of mine
development, and production. Often forward-looking statements or information
include words such as "plans", expects", "intends", "anticipates", "estimates"
"forecasts", or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or will be taken
occur or be achieved. Although forward-looking statements and information
contained in this release are based on the beliefs of Tirex management, which
are considered to be reasonable, as well as assumptions made by and information
currently available to Tirex management, there is no assurance that the
forward-looking statements or information will prove to be accurate. The
forward-looking statements and information contained in this release are subject
to current risks, uncertainties and assumptions related to certain factors
including, without limitations, obtaining all necessary approvals, feasibility
of mine and plant development, exploration and development risks, expenditure
and financing requirements, title matters, operating hazards, metal prices,
political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change, industry
practices, and one-time events as well as risks, uncertainties and other factors
discussed in our quarterly and annual and interim management's discussion and
analysis. In this instance, there is no assurance any or all of the EBRD loan
facility will be drawn down by the Company, or that any additional amount of the
private placement will be sold. Should any one or more of these risks or
uncertainties materialize or change, or should any underlying assumptions prove
incorrect, actual results may vary materially from the forward-looking
statements and information described herein. Accordingly, readers should not
place undue reliance on forward-looking statements and information contained in
this release. We undertake no obligation to update forward-looking statements or
information except as required by law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tirex Resources Ltd.
604-687-7160
604-608-9110 (FAX)
info@TirexResources.com
www.TirexResources.com

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