TORONTO, ONTARIO–(Marketwire – April 3, 2012) – Oremex Gold Inc. (“Oremex Gold” or the “Company”) (TSX VENTURE:OAU)(FRANKFURT:OM8) is pleased to announce additional rock sampling results from its 100% owned Cerro del Oro gold project, located in the Melchor Ocampo mining district in northern Zacatecas State, Mexico. Furthermore, rehabilitation of two underground workings to facilitate the commencement of an underground drilling program is currently underway.

“The additional sample results show significant levels of widespread gold-dominant mineralization over considerable widths at the Cerro del Oro project. Our ongoing detailed sampling program provides much better definition of the mineralized zones and structures and consequently has expanded the area of interest. The Company is planning and looking forward to commencing both underground and surface drill programs in the near future” stated David Terry, President and CEO.

Analytical results for 440 surface and 20 underground rock chip samples have been received (147 reported in Feb.23.12 news release). For the entire database, gold averages 0.47 g/t (0.01 to 8.3 g/t); 266 samples were greater than 0.2 g/t and 114 samples were greater than 0.5 g/t. Silver ranges from less than 2 g/t to 75.9 g/t, lead ranges from 4 g/t to 1.5% and zinc ranges from 6 g/t to 11.4%. Additional analytical results from the ongoing work are expected shortly.

The mineralized intrusive/skarn domain within the central portion of the property was expanded from 450m by 300m (Feb.23.12 news release) to a 500m by 500m area as a result of the sampling reported herein. A second area of intrusive-related mineralization (150m by 60m area) is located in the northwest corner of the property. Numerous samples were collected in a series of contiguous rock chip samples from hand trenches or road cuts.

Weighted average highlights include:

13.8 2.85
6.9 2.21
4.4 1.43
15.5 0.53
43.15 0.53
64.1 0.45
25.2 0.53
23.25 0.50
24.0 0.51
3.2 8.3
60.3 0.41

Map 1 displays the above highlights in addition to gold ranges for individual samples reported herein.

The Cerro del Oro property is 100% owned by the Company’s wholly-owned Mexican subsidiary, Minera Tres Diamantes, S.A. de C.V. (Feb. 23.12 news release).

Cerro del Oro is located 22km north of Goldcorp Inc.’s world-class, Penasquito, gold-silver-lead-zinc mine (P&P Reserves greater than 18 million oz gold and 1 billion oz silver)(1) at the northern end of the Zacatecas “Zona Dorada” (Golden Zone). The Cerro del Oro property hosts numerous historical pits, trenches, underground workings and is underlain by a mixed intrusive/skarn domain significantly mineralized with gold-silver, +/-base metals. Mineralization commonly displays structural controls and occurs in both intrusive and skarn lithologies.

Analyses reported herein were performed by SGS Mexico SA de CV, in Durango, Mexico, an internationally recognized analytical services provider. The Company followed industry standard procedures for the work carried out on the Cerro del Oro project. A total of 17 standards were inserted into the sample sequence reported herein. In addition, internal laboratory QA/QC procedures were followed. Oremex Gold detected no significant QA/QC issues during review of the data. The technical information contained in this release has been prepared by Bill Feyerabend, CPG -11047, a Qualified Person, and has been reviewed by Dr. David A. Terry, P.Geo., President and CEO of the Company and a Qualified Person as defined in National Instrument 43-101.

About Oremex Gold Inc.

Oremex Gold Inc. is a Canadian gold exploration and development company created from the spin-out of gold assets owned by Oremex Silver Inc. (previously Oremex Resources Inc.) in 2011. The Company has a portfolio of gold properties in prolific mining regions of Mexico. Its two main projects are Cerro del Oro, located in historic Melchor Ocampo gold district and Santa Catarina, located in the prolific Sierra Rosario gold belt.

Forward Looking Information

Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, may constitute forward-looking information (collectively “forward-looking information”) within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Oremex Gold. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Oremex Gold filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company’s public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Oremex Gold does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.

Although the Company believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.

To view a map associated with this release, please visit the following link: http://media3.marketwire.com/docs/oaumap1.pdf

(1) Goldcorp Inc. website

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Oremex Gold Inc.
Christian Scovenna
+1 416.309.4322
[email protected]

Source: Oremex Gold Inc.


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