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Cheap 0.035 gold stock.

About Orex Exploration Inc.

Orex Exploration Inc. is a Canadian-based junior resource and exploration company trading under the symbol OX on the TSX Venture Exchange and O5D on the Frankfurt Stock Exchange. The Company holds a 100% interest in the Goldboro Gold Project in Nova Scotia.

The “Mineral Resource Estimate Technical Report” dated April 15, 2013, prepared by Mercator Geological Services, reports at a cutoff grade of 2 g/t :

- Measured resources totaling 171,000 tonnes grading 5.39 g/t gold (29,600 contained gold ounces);
- Indicated resources totaling 2,418,000 tonnes grading 5.60 g/t gold (435,300 contained gold ounces);
- Inferred resources totaling 2,543,000 tonnes grading 5.15 g/t gold (421,100 contained gold ounces).

The “Preliminary Economic Assessment (PEA)” on the Goldboro property prepared by MineTech International Limited dated of April 22, 2014 recommends an underground mining operation:

- initial production of 350 tonnes per day (TPD) ($24.3 millions);
- increased to 500 TPD in year 3 of production ($8.8 millions);
- working capital (3.5 millions);
- initial production of 21,400 ounces of gold per year (year 1 and 2);
- average production 35,000 ounces of gold per year (year 3 to 11);
- peak production in year 7 and 8 of 40,000 ounces per year;
- average grade 6.8 g/t gold;
- cash cost of production, $500 per ounce of gold;
- creation of 85 to 120 permanent jobs;
- eleven years life, with expansion potential at depth and to the eastern boundary of the property;
- The PEA calculated a net after taxes cash flow of $148 million over the 11 years life of the mine without considering the expansion potential.

The figures are in US dollars.

The “Mineral Resource Estimate Technical Report” dated April 15, 2013, prepared by Mercator Geological Services and the “Preliminary Economic Assessment (PEA)” on the Goldboro property prepared by MineTech International Limited on April 22, 2014 were filed on SEDAR and can be found at sedar.com
 
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