TORONTO,
Nov. 11, 2012 /CNW/ - Oremex Gold
Inc. (the "Company" or "Oremex Gold") (TSX
Venture: OAU) (Frankfurt: OM8) announces that Mr. David Terry has resigned from his position of
Chief Executive Officer & President of the Company to pursue
external commitments.
"We thank David for his contributions to the
Company and wish him well in his new opportunities" said Mr.
John Carlesso, Executive Chairman of
the Company. The Board has appointed Mr. John Carlesso as interim Chief Executive Officer
& President.
About Oremex Gold Inc.
Oremex Gold Inc. is a Canadian gold exploration
and development company created from the spin-out of gold assets
owned by Oremex Silver Inc. (previously Oremex Resources
Inc.) in 2011. The Company has a portfolio of gold properties
in prolific mining regions of Mexico. Its two main projects are Cerro del Oro, located in the historic
Melchor Ocampo gold district and
Santa Catarina, located in the
prolific Sierra Rosario gold
belt.
Forward Looking Information
Certain information contained in this news
release, including any information relating to Oremex Gold's future
financial or operating performance may be deemed "forward looking".
All statements in this news release, other than statements of
historical fact, that address events, developments, strategies,
projects or plans that Oremex Gold expects to occur, are
"forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the use of forward-looking terminology such
as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "predict", "forecasts", "intends", "anticipates",
"projects", "potential", "believes" or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "should", "might" or "will be taken",
"occur", "be achieved" or "continue" or the negative connotation.
All such forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
are subject to important risk factors and uncertainties, many of
which are beyond Oremex Gold's ability to control or predict.
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. Such factors include, without limitation: significant
capital requirements for development and operations; access to
capital markets and other sources of financing and associated cost
of funds; receipt of all required regulatory and other approvals;
fluctuations in the international currency markets and in the rates
of exchange of the currencies of Canada, the United
States and Mexico; price
volatility in the spot and forward markets for commodities; impact
of any hedging activities; discrepancies between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; changes in national and local government
legislation in Canada,
Mexico and any other country in
which Oremex Gold currently or may in the future carry on business;
taxation; controls, regulations and political or economic
developments in the countries in which Oremex Gold does or may
carry on business; the speculative nature of mineral exploration
and development, including the risks of obtaining and maintaining
the validity and enforceability of the necessary licenses and
permits and complying with the permitting requirements of each
jurisdiction that Oremex Gold operates, including, but not limited
to, Mexico; the lack of certainty
with respect to the Mexican and other foreign legal systems, which
may not be immune from the influence of political pressure,
corruption or other factors that are inconsistent with the rule of
law; the uncertainties inherent to current and future legal
challenges the company is or may become a party to; diminishing
quantities or grades of reserves; competition; loss of key
employees; actual results of current exploration activities;
changes in project parameters as plans continue to be refined;
access to adequate services and supplies; accidents; labour
disputes; defective title to mineral claims or property or contests
over claims to mineral properties. In addition, there are risks and
hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins
and flooding (and the risk of inadequate insurance or inability to
obtain insurance to cover these risks); the ultimate ability to
execute business plans on economically favorable terms; as well as
the Risk Factors included in Oremex Gold's disclosure documents
filed on and available at www.sedar.com. Forward-looking statements
are not guarantees of future performance, and actual results and
future events could materially differ from those anticipated in
such statements. All of the forward-looking statements
contained in this news release are qualified by these cautionary
statements. Oremex Gold further cautions that information contained
on, or accessible through, this website is current only as of the
date of filing such information and may be superseded by subsequent
events or filings. Oremex Gold expressly disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise, except
in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Oremex Gold Inc.