Vancouver, BC -- Orex Minerals Inc. -- (TSX-V: REX -- OTCQX: ORMNF) ("Orex") was made aware earlier today that Canasil Resources Inc. (TSX.V: CLZ or "Canasil") has been named in a lawsuit brought by Pan American Silver Corp. ("Pan American") with the BC Supreme Court regarding the mineral claims making up the Sandra Escobar Project (the "Project") in Durango state, Mexico.
As announced on January 16, 2017, Orex earned a 55% ownership interest in the Project by paying Canasil CAD $500,000 and spending more than USD $2,000,000 in exploration and development at the Project pursuant to an option agreement with Canasil dated September 15, 2015.
While Pan American's claim, if proved, could impact Orex's interest in the Project, Orex is not currently in a position to comment on the merits of Pan American's claim. Orex will be monitoring the situation and seeking further information from Canasil.
ABOUT OREX MINERALS INC.
Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Orex has several current projects: the Coneto Silver-Gold Project in Durango, Mexico, as a joint venture with Fresnillo PLC; the Sandra Escobar Silver Project, also in Durango, Mexico, as a joint venture with Canasil Resources Inc., and the Jumping Josephine Gold Project in British Columbia, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
For further information, please contact Orex Minerals Inc. at (604) 687-8566 x228, email info@orexminerals.com or visit our website at www.orexminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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