Kitco  PR

” April 22, 2015

Fresnillo Restarts Diamond Drilling on the Coneto Gold-Silver Project in Durango, Mexico

Vancouver,”

 From Orex Home site. Assume  Mexus  got  a  worse offer than this  pre- pre-feasibility  55%  with 70% buy in possible.  Pre- feas is

“The purpose of a pre–feasibility study is to select the preferred option (Base Case) for the project development (including mine access, mining … ”  Mexus   is  some past that in placer production  alone and  to start  prepping  the  shaft with contractor. 8

 

ASSOCIATION AGREEMENT WITH FRESNILLO PLC

Orex has signed an Association Agreement with Fresnillo Plc to explore the Coneto Silver-Gold Project. Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 hectares (43,000 acres) and cover more than 40 known mineralized epithermal quartz veins. A joint technical committee, with both Orex and Fresnillo representation, will manage Coneto.

Fresnillo PLC has an option to spend up to US $6,000,000 USD before February 2015 to explore the Coneto Silver-Gold Project in order to earn 55% ownership, and has the right to earn 70% ownership by advancing Coneto to the pre-feasibility stage, or by spending US $21,000,000. As of December 2014, Fresnillo PLC has spent US $5,300,000.

http://www.orexminerals.com/s/Coneto.asp