Oremex Silver Inc. Provides Update

The new board of directors of Oremex Silver Inc. (TSX VENTURE:OAG) ("Oremex" or
the "Company") is pleased to report that it has begun making progress on a
number of fronts since it has assumed leadership of the Company. 


The Company has now had its' trading halt removed which was in place for 7
months and has cancelled two dilutive financings.


The Board is reviewing all of the Company's operations to determine what
changes, if any, will be necessary in the future and putting together a strategy
for its Mexican operations. The Board hopes to report on that progress shortly.
Corporately the Company is working on completing its year-end audit and planning
on restarting communications with shareholders by re-launching the website and
beginning to provide more regular updates. 


In addition, the Company has issued 5,050,000 stock options at an exercise price
of $0.05 per option to directors and service providers. The options vest
immediately and expire 5 years from the date of grant.


About Oremex 

Oremex is a Canadian company focusing on the exploration and development of
silver projects along a highly productive mineralized belt in Mexico. The
Company has a portfolio of silver projects including a mineral resource of 50.8
million ounces of silver at its Tejamen deposit. 


National Instrument 43-101 requires the following statement: that the
preliminary assessment is preliminary in nature, that it includes inferred
mineral resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be categorized
as mineral reserves, and there is no certainty that the preliminary assessment
will be realized.


Forward-Looking Statements 

Forward-Looking Statements: The above contains forward-looking statements that
are subject to a number of known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
anticipated in our forward-looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations reflected in
our forward-looking statements are reasonable, results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Oremex Silver Inc.
Allan Folk
Director
[e-mail]