REX.V · 2022-10-05 12:00:00

Phase-I Reconnaissance Drilling Completed on the Sandra Silver-Gold Project in Durango, Mexico

Exploration Programs

Phase-I Reconnaissance Drilling Completed on the Sandra Silver-Gold

Project in Durango, Mexico

VANCOUVER, BC

Oct. 5, 2022

/CNW/ -

Orex Minerals Inc.

(TSXV: REX) (OTCQB: ORMNF) ("

Orex

") announces the completion of the Phase-I

reconnaissance exploration drilling program on the Sandra Silver-Gold Project in northwestern Durango State,

Mexico

. The Sandra Project is a joint venture

between Pan American Silver Corp. (60%) and Orex Minerals Inc. (40%). Phase-I consisted of 2,665.30 metres in 8 diamond drill holes. Four holes were

drilled on targets in the Central Corridor (

Rosario

-Isabella-Paola) and four holes were drilled in the Eastern Corridor (Boleras-Martha-San Francisco).

The Central Corridor consists of a broad northwest trending alteration zone, with quartz veins and stringers, west of

Cerro Rojo

, including the

Rosario

Isabella and Paola showings. Gold pathfinder elements arsenic and antimony are elevated and gold in surface samples occur in old workings. Hole SA-22-

066 yielded

1.8 m

(true thickness

1.5 m

) grading 1.04 g/t Au.

The Eastern Corridor extends from the Boleras Silver Deposit, toward the northwest to Martha,

Martha North

, the San Francisco Mine and

Cerro Rojo

Drilling has expanded the disseminated silver-bearing host rock (Boleras rhyolite unit) a further 1.5 kilometres northwest of the Boleras Deposit. Hole SA-

22-072, drilled near Martha, yielded

18.0 m

(true thickness

15.3 m

) grading 14.7 g/t Ag, including

6.7 m

(true thickness

5.7 m

) grading 22.2 g/t Ag. Hole

SA-22-073, drilled

100 m

north of the Boleras Deposit, yielded

17.0 m

(true thickness

14.5 m

) grading 39.0 g/t Ag, including

6.0 m

(true thickness

5.1 m

)

grading 51.3 g/t Ag.

The Western Corridor, consisting of

Maria Fernanda

, Encino, Sandra, Nora and Barita, was not tested during this Phase-I reconnaissance drilling program.

Orex's President & CEO,

Ben Whiting

, P.Geo., states:

"The expansion of the silver-bearing host rock units for an additional 1.5 km northwest of Boleras

is indicative of a large mineralized system. Locating the controlling structures for higher grade zones is a part of the ongoing exploration."

Location Map – Sandra Project – Diamond Drilling Phase-I 2022

To view the location map, please refer to:

https://orexminerals.com/projects/sandra/photo-gallery/

Intercepts - Sandra Project - Diamond Drilling Phase-I 2022

Hole

From (m)

To (m)

Core

Length

True

Thick

(g/t)

(ppm)

Central Corridor

SA-22-066

32.25

34.15

1.90

1.62

0.166

5.1

386

333

67.65

69.45

1.80

1.53

1.043

0.9

180

301

148.30

149.10

0.80

0.68

0.156

0.8

216

SA-22-067

252.60

253.50

0.90

0.77

0.118

0.3

262.90

264.85

1.95

1.66

0.113

0.3

SA-22-068

175.70

177.55

1.85

1.57

0.164

0.3

SA-22-069

No Significant Intercepts

Eastern Corridor

SA-22-070

128.50

135.16

6.60

5.61

0.003

17.2

2586

3641

Includes

128.50

130.50

2.00

1.70

0.003

19.1

4412

10000

SA-22-071

96.10

97.75

1.65

1.40

0.253

1.9

107

137.40

138.60

1.20

1.02

0.201

12.7

172

SA-22-072

175.90

177.00

1.10

0.94

0.005

10.7

457

341

178.50

179.70

1.20

1.02

0.003

12.6

403

328

184.00

202.00

18.00

15.30

0.003

14.7

332

284

Includes

191.30

198.00

6.70

5.70

0.003

22.2

300

205

Includes

194.10

195.00

0.90

0.77

0.003

30.4

253

173

219.00

220.00

1.00

0.85

0.003

10.9

103

224.00

227.00

3.00

2.55

0.003

10.5

283

255.00

259.00

4.00

3.40

0.003

23.2

187

Includes

258.00

259.00

1.00

0.85

0.003

31.2

128

268.00

271.00

3.00

2.55

0.003

13.8

220

Includes

269.00

270.00

1.00

0.85

0.003

18.8

225

SA-22-073

0.00

17.00

14.45

0.003

39.0

1409

1770

Includes

7.00

13.00

6.00

5.10

0.003

51.3

2136

2113

Includes

11.00

13.00

2.00

1.70

0.003

55.9

1054

2651

56.00

62.00

6.00

5.10

0.003

16.7

Includes

58.00

60.00

2.00

1.70

0.003

17.9

True thickness at the reconnaissance scale is an estimate based on drill hole angles to structures.

The drilling has been conducted by Globexplore, an experienced diamond drilling service company, utilizing low environmental impact, man-portable drill rigs.

Globexplore has an excellent environmental, community and safety record in Mexico. This program was carried out under strict COVID-19 safety protocols

and was assisted by the consulting group Geotech Evaluation Services ("GES").

Prior to this 2022 program of 8 holes for 2,665 metres, there have been two previous drilling campaigns on the Sandra Project. The 2011 program

consisted of 11 exploratory holes for 1,849 metres and the 2015-2016 program consisted of 65 exploratory and resource definition holes for 9,821 metres,

which lead to the identification of the Boleras Silver Deposit in the southeast. There are multiple, untested drill targets identified on the property.

SANDRA SILVER-GOLD PROJECT,

DURANGO, MEXICO

Sandra is situated north of the town of

Tepehuanes, Durango

, in the heart of the "Mexican Silver Trend", midway between the mining districts of Tovar and

Guanacevi

. It is also 75 km west of Endeavour Silver's La Pitarrilla deposit. This prolific trend hosts some of the World's largest silver camps and deposits,

including

Fresnillo

Guanajuato

, La Pitarrilla, La Preciosa, Real de Angeles and

Zacatecas

. (Mineralization hosted on adjacent and/or nearby properties is

not necessarily indicative of mineralization hosted on the Sandra Property.)

The Project covers almost 70 square kilometres of contiguous mineral concessions and includes multiple mineralized epithermal quartz veins, disseminated

horizons and breccia structures. These mineralized features form a high-level silver-gold-base metals system, hosted in andesitic and rhyolitic rocks,

centered on a large rhyolite dome complex in the north, intrusive related vein systems to the west, and silver-bearing systems in smaller rhyolite dome

complexes to the southeast. Intense alteration zones and fluid flooding in permeable formations indicates the presence of bulk tonnage targets.

An initial mineral resource estimate at Sandra was released in 2016 for the disseminated silver discovery of the Boleras Deposit. Located at surface in the

southeastern part of the Project, the Boleras Deposit contains an Inferred Resource Estimate of 9.8 million tonnes, grading 106 g/t Ag, for a total of 33.3

million ounces of silver (see news release

31 October 2016

Excellent infrastructure exists in the Sandra area, including paved road access, electrical power, water and manpower from nearby communities.

Community engagement is an important part of the ongoing Environmental, Social and Governance (ESG) efforts.

Ben Whiting

, P.Geo., is a Qualified Person as defined in NI 43-101 and take responsibility for the technical disclosure contained in this news release.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. is a mineral exploration company focused on precious and base metals exploration in

Mexico

and

Canada

. Orex has several current

projects: Two projects are located in Durango State,

Mexico

, the Sandra Silver-Gold Project with Pan American Silver Corp. and the Coneto Gold-Silver

Project with Fresnillo PLC. The third project is the Jumping Josephine Gold Project in

British Columbia, Canada

. Orex is managed by the experienced

Belcarra Group Management Ltd. (the "

Belcarra Group

"), comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS

Ben Whiting

. P.Geo.

President and CEO

FORWARD LOOKING STATEMENTS

This News Release may contain forward-looking statements including, but not limited to, statements with respect to the planned program and budget for the

Project. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ

materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.

For additional information on risks and uncertainties, see the Company's most recently filed annual management discussion and analysis ("MD&A"), which is

available on SEDAR at

www.sedar.com

and on the Company's website at

www.orexminerals.com

. The risk factors identified in the MD&A are not intended

to represent a complete list of factors that could affect the Company.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.

View original content:

https://www.prnewswire.com/news-releases/phase-i-reconnaissance-drilling-completed-on-the-sandra-silver-gold-project-in-durango-mexico-301641524.html

SOURCE

Orex Minerals Inc.

View original content:

http://www.newswire.ca/en/releases/archive/October2022/05/c5606.html

%SEDAR: 00013850E

For further information:

please contact Orex Minerals Inc. at 604-687-8566, email [email protected] or visit our website www.orexminerals.com.

CO: Orex Minerals Inc.

CNW 09:00e 05-OCT-22

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