Oremex Silver Inc. announces that the Company and its wholly-owned Mexican subsidiary, Minera Mantos S. de R.L. de C.V., have entered into an agreement with First Majestic Silver Corp. pursuant to which the Company and Minera Mantos will grant to First Majestic an option to acquire, through a wholly-owned Mexican subsidiary, each of (i) an undivided 100% registered and beneficial title to the Company’s Chalchihuites mineral exploration property and (ii) all of the right, title and interest of the Company in the Navidad mineral exploration property as at the time of the exercise of the Company’s option in relation thereto in exchange for the aggregate option payment of $1,500,000. Oremex considers the Properties to be non-core assets of the Company.