Wednesday December 1, 4:14 pm Eastern Time
Company Press Release
Orex Gold Mines Corporation Announces
Dividend Shares
CORAL GABLES, Fla.--(BUSINESS WIRE)--Dec. 1, 1999--Orex Gold Mines Corporation (''Orex'')
(OTCBB:ORXX - news) today announced that its Board of Directors approved the issuance of dividend shares
of Orex Minerals Corporation (''OMC''). All shareholders of record at the close of business on December 31st,
1999 will receive a dividend of one share of OMC common stock for every twenty shares of Orex.
The additional shares will be distributed on or about January 31st, 2000.
Orex Gold Mines currently owns and operates the Santa Maria Mine and Mill as well as Arch Mining located
outside Wickenburg Arizona. The Santa Maria and Arch properties contain large gold bearing quartz vein
structures with relatively pure quartz and moderate gold grades averaging near 0.25 oz./ton. Efforts are currently
underway to determine the efficiency of several processes designed to recover the gold, silica and other values as
marketable commodities.
It is the goal of Orex Gold Mines Corporation to become a diversified mineral mining company through strategic
acquisitions and joint ventures designed to increase shareholder value through asset valuation and production
earnings. Orex Minerals Corporation, a wholly owned subsidiary of Orex, has initiated negotiations for several
world-class vanadium and uranium mines, previously mined by Union Carbide (NYSE: UK - news) and Atlas
Minerals in the Colorado Plateau region. The company has assembled a team of technical and financial expertise
in the mining business to direct these efforts in the interest of the stockholders.
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 |
