Replies to post #475 on Mexican Mining

[Ed Monton]

Oremex arranges $5.5-million private placement

ORM

2004-04-02 16:02 ET - News Release

Mr. James Yates reports

OREMEX TO RAISE $5.5 MILLION IN PRIVATE PLACEMENT FINANCING

Oremex Resources plans to raise $5.5-million in private placement financing in anticipation of expanding the current drill hole program on the Tejamen silver property located in the state of Durango, Mexico.

The company has engaged Canaccord Capital Corporation and First Associates Investments Inc. to act as agents in a brokered private placement of up to five million units at $1.10 per unit for a total of $5.5-million. Each unit will consist of one common share and one-half warrant, each full warrant giving the holder the right to purchase an additional common share at $1.25 within a 12-month period. The shares and any shares issued upon exercise of the warrants will be subject to a four-month hold period.

An 8.0-per-cent cash commission, of which the agents may elect to be paid up to half in units (having the same terms as the units offered) and agent's warrants equal to 10 per cent of the offering sold entitling the agents to acquire one unit at the offering price for a period of one year from closing. The private placement is subject to TSX Venture Exchange acceptance.

In addition, Oremex reports that additional drill hole results have been delivered for assays and details will be released when all assays have been received

[Ed Monton]

Well I think INM is a screaming buy right now. I may add more next week if it dips into the .90's again. I've been adding and its my second biggest holding now. I hope the recent weakness has nothing to do with the current drill program.