Monday November 22, 9:54 am Eastern Time
Company Press Release
Orex Gold Mines Corporation - Shareholder
Update
CORAL GABLES, Fla.--(BUSINESS WIRE)--Nov. 22, 1999--Orex Gold Mines Corporation (''Orex'')
(OTCBB:ORXX - news) announced that it will be testing the silica circuit at the Santa Maria Mill on or before
November 30th, 1999.
Once our field supervisor and engineers are satisfied, they will then set a date for a demonstration utilizing several
processes, including the Haber Gold Process (HGP). Orex will also be testing and modifying several established
processes for use in heap-leaching applications at the Santa Maria facilities.
Orex has enlisted the services of additional technical advisors in the areas of chemistry and geochemistry to help
evaluate existing properties and processes. Their areas of expertise are resource and reserve evaluations, chemical
processes relating to depositional environments and mineral extraction, and economic evaluations.
The goal of Orex and the testing is to achieve a satisfactory recovery of saleable by-products from its high-grade
silica. Removal of the impurities will result in a marketable silica product for paint, fiber optics, glass and other
applications, and maximal efficiency of the processing operations while remaining as environmentally friendly as
possible.
Orex remains committed to maximizing shareholder value through technological advantages and diversification.
Thus, Orex has recently formed Orex Minerals Corporation (''OMC''), a Nevada corporation, and wholly
owned subsidiary of Orex Gold Mines Corporation. It is the goal of OMC to acquire mining properties and
contract mining operations in the Colorado plateau for Uranium and Vanadium. Orex Gold Mines Corporation is
currently considering the issuance of dividend shares of OMC to Orex shareholders. Further details regarding this
transaction will be released publicly in the near future. Orex is also nearing completion of its Form 10SB which
will be filed with the Securities and Exchange Commission.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future
events or performance and underlying assumptions, and all statements that are other than statements of historical
facts. These statements are subject to uncertainties and risks including, but not limited to, product and service
demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing,
government regulation, and other risks defined in this document. These cautionary statements expressly qualify all
such forward-looking statements made by or on behalf of Orex. In addition, Orex disclaims any obligation to
update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact:
Orex Gold Mines, Coral Gables
Investor Relations Contact:
Greg Finney, 305/444-5890
or Jeff Blackburn, 520/668-0460 |
