VANCOUVER, Sept. 24, 2012 /CNW/ – Fresnillo plc (“Fresnillo”) (LSE: FRES) today announced that it has acquired 2,000,000 units (the “Units”) of Orex Minerals Inc. (“Orex”) (TSXV: REX) pursuant to a non-brokered private placement at a purchase price of C$0.50 per Unit for a total of C$1,000,000. Each Unit consists of one common share of Orex (each a “Share”) and one half of a share purchase warrant of Orex with each whole share purchase warrant exercisable for one Share at a price of C$0.75 per Share.

Prior to the acquisition of the Units, Fresnillo held directly 2,500,000 Shares and 1,250,000 common share purchase warrants, representing approximately 9.4% of the issued and outstanding Shares, on a fully diluted basis. After giving effect to this subscription, Fresnillo directly owns 4,500,000 Shares, representing approximately 10.27% of the issued and outstanding Shares and on a fully diluted basis (assuming exercise of all common share purchase warrants), representing ownership of 15.4% of the issued and outstanding Shares. The acquisition of the Units is being made for investment purposes only. Depending on the market and other conditions, Fresnillo may, from time to time, increase or decrease its ownership over the Shares, warrants and/or other securities of Orex.

The Units were acquired in reliance on the “accredited investor” exemption of applicable Canadian securities laws.

Forward Looking Statements

Fresnillo’s intention with respect to future ownership of Orex securities is a “forward-looking statement” within the meaning of applicable Canadian securities laws and involves uncertainty because it relates to future circumstances.