Day: February 2, 2016

Oremex Silver Inc. announced today that it has filed an updated National Instrument 43-101 technical report in respect of its Tejamen silver project in Durango, Mexico. The report was prepared by Gustavson Associates, LLC of Lakewood, Colorado and provides and updated resources estimate (as of December 10, 2015) for the project. The Report provides an estimated inferred resource of 19.8 million tonnes containing 28.7 million ounces of silver at 45.0 g/t and 15,700 ounces of gold at 0.025 g/t. The Report will be filed under the Company’s profile on SEDAR at www.SEDAR.com.

Chief Owner, Rob McEwen, stated: “This is wonderful news and it highlights our strong operational performance in 2015, where we increased our gold/silver production, decreased our production cost/oz., generated free cash flow and steadily built our treasury over the year. Also, during the year we declared and paid our first ever semi-annual capital distribution. Our share price appreciation since July, 2015 reflects the value in exercising financial discipline and resisting the temptation to finance at the bottom of the market. We refused to give away our future upside. We have not and will not sell metal streams, sell royalties or hedge our future production. At this time, we are debt free, we have $33 million in cash and bullion. As you can see, we have no pressure on our balance sheet and we will be paying our second capital distribution on February 12th. This is a great way to start 2016.”