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Message: Sprott invests in Oremex

I just pulled this of Yahoo

*Disclaimer - I made a small investment in Oremex last summer

TORONTO, ONTARIO--(Marketwire - Sept. 20, 2010) - Oremex Resources Inc. (TSX VENTURE:ORM) is pleased to announce a proposed private placement of units, at a price of $0.09 per unit, for gross proceeds of approximately $1,700,000. Each unit will be comprised of one share of the Company and one-half of one share purchase warrant. Each whole warrant will be exercisable to purchase one share of the Company, at a price of $0.14 per share, for a period of two years from the date of issuance.

Oremex is also pleased to advise that Sprott Asset Management, on behalf of certain funds and managed accounts, has indicated its intention to participate in the private placement.

"Sprott Asset Management is among the most recognized and highly-regarded investment management firms in the world, particularly for its knowledge and expertise in the mining sector" noted Oremex Chairman John Carlesso. "We are pleased to have their support as we enter a particularly active phase of growth and development for the company".

The proceeds of the private placement will be used to fund Mexican operations, exploration and development on Oremex's project portfolio, to pursue corporate acquisitions and for working capital and general corporate purposes.

Completion of the private placement is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. All of the securities issuable in connection with the private placement will be subject to a hold period expiring four months and one day after the date of issuance.

Oremex expects to complete the private placement before the end of September 2010.

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