Oremex Silver Announces Application to Extend Warrants

TORONTO, ONTARIO--(Marketwire - May 17, 2012) - Oremex Silver Inc. ("Oremex Silver" or the "Company") (TSX VENTURE:OAG)(OTCQX:ORAGF)(FRANKFURT:OSI) announces that it has made an application to the TSX Venture Exchange ("TSX-V") to extend the expiry date of 2,347,326 outstanding common share purchase warrants of the Company (the "Warrants") from May 28, 2012 to May 28, 2013, with all other terms and conditions of the Warrants remaining the same. Each Warrant is exercisable to purchase one common share of the Company at a price of $0.16 per common share. The application is subject to the approval of the TSX-V.

The Warrants were originally issued in connection with the private placement (the "Private Placement") of 9,381,016 units (the "Units") of the Company on May 28, 2010, with each Unit being comprised of one common share of the Company and one-half of one common share purchase warrant.

About Oremex Silver Inc.

Oremex Silver Inc. is a Canadian company focusing on the exploration and development of silver projects along the highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including a mineral resource of 50.8 million ounces of silver at its Tejamen deposit. The Company's projects are located in mining-friendly jurisdictions and the Management Team has successful track record of mine building in Mexico.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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