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Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex”) is pleased to announce that it has exercised the first option and formed a joint venture pursuant to an option agreement dated September 15, 2015 (the “Option Agreement”) with Canasil Resources Inc. – (TSX.V: CLZ) (“Canasil”). Orex has earned a 55% ownership interest in the Sandra Escobar project in Durango state, Mexico (the “Project”) by paying Canasil CAD $500,000 upon signing and spending more than USD $2,000,000 in exploration and development at the Project. A joint committee will be formed to manage ongoing exploration at the Project with representation based on the proportional interest of each party. Under the terms of the Option Agreement, Orex had a second option to earn an additional 10% interest (for a total of 65%) by paying Canasil an additional CAD $500,000, and spending a further USD $2,000,000 on exploration and development at the Project in the next two years. Orex notified Canasil today that it would not be proceeding with the second option.