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OX

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Goldboro Gold Project Drill Assay Results Identify Extensions to Mineralized Zones at East Goldbrook

11/08/2011 3:17pm

Marketwired Canada


OREX EXPLORATION INC. (TSX VENTURE:OX) (FRANKFURT:O5D) and OSISKO MINING
CORPORATION (TSX:OSK) (FRANKFURT: EWX) would like to provide shareholders with
final assay results from the diamond drilling campaign that began in April of
this year at Orex's wholly-owned Goldboro Gold Property in Nova Scotia. A total
of 10 drill holes, representing 2,375.4 metres, were completed in this campaign.
A total of six drill holes (OSK11-01 to OSK11-06), representing 1,610 metres of
drilling, were completed at East Goldbrook. A total of four drill holes
(OSK11-07 to OSK11-10), representing 765.4 metres of drilling, were completed in
the gap area between West Goldbrook and Dolliver Mountain. All gold assays for
this campaign have now been received. Significant gold intervals from the assays
from this campaign are presented in Table 1.


The six drill holes at the East Goldbrook area were completed on three sections
spaced 250 metres apart extending to the east property boundary. The holes were
designed to cross-section an approximate 250- metre wide corridor identified by
2010 reverse circulation (RC) drilling to contain bedrock chip samples from six
RC holes yielding grades from 0.1 to 25.65 g/t Au (refer to news release of
November 18, 2010).


Results from the drilling at East Goldbrook indicate the presence of narrow
high-grade gold veins often with visible gold and frequently associated with
wider zones of lower-grade values extending over the 500-metre strike length to
the property boundary. The mineralization is likely plunging shallowly to the
east, and additional drilling will be required to further delineate the zones.


The remaining four drill holes were completed on three sections spaced 200
metres apart in the West Goldbrook - Dolliver Mountain gap, where there is no
record of previous drilling. One drill hole, OSK11-07, was abandoned prior to
reaching its target depth due to drilling problems. The remaining holes each
intersected occasional narrow high-grade veins; however, the wall rock contains
little mineralization.


Mr. Mark Billings, President and CEO of Orex, added, "The results from this
campaign confirm the presence of important gold mineralization at the eastern
section of our Goldboro Gold Property. There are over 500 metres of strike
length that could potentially add significant upside to our current resources.
In addition, we continue to find gold mineralization along the strike length of
the Goldboro Gold Property, as evidenced by the results in the gap area between
West Goldbrook and Dolliver Mountain. Although some of the zones are narrow, the
high grades may support an eventual underground exploitation."




Hole                              From           To  Interval MS(i)  Au gpt 
                                metres       metres    metres               
OSK11-01                         36.00        37.00      1.00          1.82 
Az 360, Dip -50, Length 247 m    86.00        88.00      2.00          1.80 
                                128.00       130.00      2.00          0.58 
                                                                            
OSK11-02                        117.00       117.50      0.50    MS  412.00 
Az 360, Dip -55, Length 286 m   117.50       128.50     11.00          0.23 
                                174.00       191.00     17.00          0.55 
including                       179.50       180.00      0.50    MS    2.67 
and                             182.00       183.00      1.00          4.55 
                                191.00       205.50     14.50          0.25 
                                234.50       243.50      9.00          0.53 
                                                                            
OSK11-03                         38.00        38.95      0.95          1.28 
Az 360, Dip -50, Length 251 m    46.00        50.50      4.50          1.32 
                                 88.00        91.00      3.00          0.64 
                                143.00       143.70      0.70          4.28 
                                                                            
OSK11-04                        140.00       140.50      0.50    MS   35.10 
Az 360, Dip -55, Length 299 m   193.85       194.35      0.50    MS 1570.00 
                                194.35       197.50      3.15          0.77 
                                204.95       224.50     19.55          0.89 
including                       215.00       215.50      0.50    MS    3.04 
and                             223.00       224.50      1.50          6.23 
                                                                            
OSK11-05                                No significant values               
Az 360, Dip -55, Length 293 m                                               
OSK11-06                         40.30        42.50      2.20          0.63 
Az 360, Dip -50, Length 234 m    65.15        66.70      1.55         15.80 
OSK11-07                            Abandoned prior to target depth         
Az 180, Dip -45, Length 42.4 m                                              
OSK11-08                         89.00        92.00      3.00          0.45 
Az 180, Dip -45, Length 245 m   100.00       101.50      1.50          0.64 
                                113.00       113.50      0.50    MS   31.30 
OSK11-09                          68.5           70      1.50          1.75 
Az 180, Dip -45, Length 240 m    83.85        84.35      0.50    MS   13.15 
                                  91.5         92.5      1.00          1.54 
                                  96.5         97.5      1.00    MS    1.28 
                                 136.5        137.7      1.20    MS   23.60 
                                153.50       155.50      2.00          0.40 
                                                                            
OSK11-10                         62.50        65.30      2.80          0.86 
Az 180, Dip -45, Length 238 m    99.00       103.50      4.50          1.13 
                                                                            
(i) Metallic Screen Assay / Visible Gold                                    



QA/QC Sampling and Analytical Protocols

The sampling and assaying of the drillcore included QA/QC protocols to monitor
for potential contamination, precision and accuracy of results including the
regular submission of field blank standards, certified reference standards and
field duplicate split core samples. Samples were assayed using a 50 g fusion
with AAS finish with sample pulps routinely re-assayed. Samples exceeding the
AAS threshold were re- assayed with gravimetric finish. All samples identified
to contain visible gold were assayed by the Total Metallic Screen method.


Option on Goldboro Gold Property Granted to Osisko Mining Corporation

In order to acquire a 50% undivided interest in the Goldboro Gold Property on or
before September 29, 2013 (the Initial Option), Osisko Mining Corporation shall
incur exploration and development expenditures in the amount of at least
$1,500,000 on or before September 29, 2010; in the aggregate amount of at least
$3,500,000 on or before September 29, 2011; and in the aggregate amount of at
least $8,000,000 over the following two years, that is, on or before September
29, 2013. Osisko Mining Corporation may, at its sole discretion, accelerate and
apply exploration and development expenditures to future years' expenditures
and, accordingly, the Initial Option may be exercised sooner. Osisko Mining
Corporation shall solely fund a prefeasibility study to earn an aggregate 60%
interest (that is, an additional 10% interest) in the Property on or before
September 29, 2015 (the Additional Option).


About Osisko Mining Corporation

Osisko Mining Corporation owns and operates the Canadian Malartic gold mine in
Quebec, Canada's largest open pit gold mine. Canadian Malartic mine represents
one of the biggest permitted gold reserves in Canada, and is still growing
through ongoing drilling on new mineralized zones.


About Orex Exploration Inc.

Orex Exploration Inc. is a Canadian-based junior resource and exploration
company trading under the symbol OX on the TSX Venture Exchange and O5D on the
Frankfurt Stock Exchange. The Company holds a 100% interest in the Goldboro Gold
Project in Nova Scotia.


The technical information contained in this news release has been reviewed by
Mr. Bruce Mitchell, P. Geo., Senior Project Geologist to Orex, and a Qualified
Person under National Instrument 43-101 regulations.


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