Orex Grants Stock Options and Applies to Extend Warrants

VANCOUVER, Oct. 30, 2015 /CNW/ - Orex Minerals Inc. – (REX: TSX-V) ("Orex" ) announces that it has granted 250,000 incentive stock options to a consultant to purchase 250,000 shares in the capital of Orex at an exercise price of $0.20 per share and with a two year term. The options will vest immediately.

Orex reports that it has applied to the TSX Venture Exchange to extend the term of the warrants issued in connection with its November 21, 2013 private placement, currently expiring November 21, 2015. Warrants to purchase 3,393,200 common shares at a price of $0.30 per share will be extended to expire on November 21, 2017, subject to TSX Venture Exchange approval.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: the Los Crestones Gold-Silver-Copper Project in Sinaloa, Mexico, the Sandra Escobar Project in Durango, Mexico, and the Jumping Josephine Gold-Silver Project in British Columbia, plus the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo plc. 

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope,
President

FORWARD-LOOKING INFORATION

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.

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.

SOURCE Orex Minerals Inc.