Temex mobilizes second drill rig, Whitney Property, Timmins

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TORONTO, Oct. 19, 2011 /CNW/ - Temex Resources Corp.

The drill campaign is focusing on evaluating several targets with the primary objective being to delineate NI 43-101 compliant gold resources at the Hallnor 6 Vein area and the 1-55 North and South Veins in the Upper Hallnor Mine based on excellent results obtained during a first phase program completed by Temex earlier this year. The program will also test the C Zone, which the Company views as a target for delineation of a potentially open pittable gold resource located between the Hallnor and Broulan Reef Mines as follow up on the high grade intercepts received to date from the Upper Broulan Reef veins.

Upper Hallnor 6 Vein Area

The Hallnor 6 Vein area is located in the footwall of the Hallnor deposit north and northeast of the Hallnor shaft and has been identified to date over a strike length of approximately 230 metres at depths ranging from approximately 150 to 300 metres from surface. An initial phase of drill testing yielded excellent results with all nine holes cutting broad intervals of north and south dipping quartz veins, highly anomalous gold, with occasional fine-grained visible gold (news release March 2, 2011). The gold mineralization in the 6 Vein area is open for expansion and is viewed as a potential bulk tonnage underground target. Highlight drill results include:

        --  6.47 g/t gold over 5.70 metres including 8.06 g/t gold over
            4.20 metres
        --  9.97 g/t gold over 6.70 metres including 66.00 g/t gold over
            0.80 metres
        --  3.72 g/t gold over 14.40 metres including 8.55 g/t gold over
            3.10 metres
        --  4.12 g/t gold over 19.30 metres including 5.81 g/t gold over
            11.40 metres
        --  2.03 g/t gold over 20.90 metres including 3.04 g/t gold over
            10.00 metres

Upper Hallnor 1-55 Zone

The 1-55 veins occur in the footwall of the main Hallnor deposit and have both open pit and underground mining potential. The veins have been identified over a strike length of 350 metres and extend from surface to approximately 150 metres vertical depth where the gold-bearing structures pass into Timiskaming sediments and then re-emerge in the Q Zone quartzite. Additional drilling is designed to confirm continuity, expand the gold mineralization and also provide grade verification in stope sized blocks. Highlight drill results include:

        --  3.32 g/t gold over 7.00 metres including 10.63 g/t gold over
            1.60 metres
        --  2.28 g/t gold over 12.00 metres including 5.46 g/t gold over
            4.90 metres
        --  18.74 g/t gold over 2.10 metres including 50.10 g/t gold over
            0.70 metres

C Zone

The C Zone is potentially open pittable gold mineralization located east-northeast of the former Broulan Reef Mine and appears to represent classic hook vein geometry similar to the high grade veins mined in the volcanic rocks at Lower Hallnor. Drilling will test for continuity. Highlight drill results include:

        --  3.64 g/t gold over 13.50 metres including 10.13 g/t gold over
            4.50 metres
        --  8.24 g/t gold over 4.00 metres including 21.16 g/t gold over
            1.00 metres
        --  4.47 g/t gold over 22.20 metres including 5.79 g/t gold over
            11.00 metres

Upper Broulan Reef

Drilling is designed to confirm continuity and expand gold mineralization (news release September 28, 2011) intersected by testing of shallow targets and the hanging wall and footwall areas of the former Broulan Reef Mine workings to explore for additional near surface flat vein and quartz stockwork zones outside areas where remaining historical, non-compliant with National Instrument 43-101 ('NI 43-101') resource blocks defined by previous operators exist.  These types of zones have historically had nugget-type gold mineralization that were successfully bulk mined from underground with significantly higher grades being obtained from mining than those indicated by drilling. Highlight drill results include:

        --  4.51 g/t gold over 3.00 metres including 13.37 g/t gold over
            1.00 metre
        --  3.97 g/t gold over 6.80 metres including 10.53 g/t gold over
            2.10 metres
        --  37.90 g/t gold over 8.80 metres including 648.13 g/t gold over
            0.50 metres
        --  5.44 g/t gold over 6.00 metres including 13.65 g/t gold over
            0.90 metres
        --  8.79 g/t gold over 2.30 metres including 38.01 g/t gold over
            0.50 metres
        --  13.55 g/t gold over 4.00 metres including 44.04 g/t gold over
            0.50 metres
        --  33.46 g/t gold over 5.40 metres including 62.99 g/t gold over
            2.80 metres

The Property, located in the centre of the Timmins gold camp, hosts three past producing mines including the high grade Hallnor Mine which produced 1.7 million ounces of gold at an average grade of 0.40 oz/ton (13.7 g/t) gold. The exploration program is being conducted under the terms of the joint venture agreement between Temex (60%) and Goldcorp Canada Ltd. (40%, 'Goldcorp').  During the option period prior to earn-in, the Company completed 88 drill holes for 20,574 metres. Upon forming the joint venture with Goldcorp and approving the initial budget of $1.5 million in June 2010, 46 drill holes for 14,205 metres were completed in 2010. The Company has thus far in 2011 completed an additional 38 drill holes for 8,097 metres of an approved 12,000 metre program; the remainder of this approved $1 million program is currently in progress. The Company is also planning an additional $1.5 million drill program to commence before the end of the year.

Ian Campbell, P. Geo., President and CEO of the Company, is the designated 'qualified person' (within the meaning of National Instrument 43-101) responsible for the preparation of this news release.

About Temex Resources Corp.

Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district.  Temex is exploring its Timmins Whitney Property, in partnership with Goldcorp, and expanding its NI 43-101 gold resource at the Juby Gold Project (Note 1) with an updated resource estimate planned for fall 2011.  The Juby Main Zone has a resource of 14.1 million tonnes at a grade of 1.36 g/t gold for 614,000 ounces of gold in the Indicated category and 18.3 million tonnes at a grade of 1.14 g/t gold for 602,000 ounces of gold in the Inferred category, both at a cut-off grade of 0.50 g/t gold.  Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (Note 2).  The tailings piles contain resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the Indicated category.

Notes:

      1. Information regarding the mineral resource estimate on the Juby
         Main Zone is in the Company's news release dated June 15, 2010 and
         the technical report filed on SEDAR July 30, 2010.  The Mineral
         Resource Statement was prepared for Temex by GeoVector Management
         Inc., Ottawa, Ontario according to the 'CIM Standards on Mineral
         Resources and Reserves: Definition and Guidelines' (December,
         2005), by Allan Armitage, Ph.D., P. Geol., and Joe Campbell,
         B.Sc., P.Geo., 'independent qualified persons' as defined by NI
         43-101.

      2. Information regarding the mineral resource estimate in the
         tailings piles located on the Gowganda Silver Project is in the
         Company's news release dated June 8, 2011 and the technical report
         filed on SEDAR July 21, 2011. The Mineral Resource Statement was
         prepared for Temex by GeoVector Management Inc., Ottawa, Ontario
         according to the 'CIM Standards on Mineral Resources and Reserves:
         Definition and Guidelines' (December, 2005), by Allan Armitage,
         Ph.D., P. Geol., Alan Sexton, M.Sc., P.Geo. and Joe Campbell,
         B.Sc., P.Geo., 'independent qualified persons' as defined by NI
         43-101.

Forward Looking Statements:

This news release includes certain 'forward-looking statements'.  Such forward-looking statements involve risks and uncertainties.  The results or events predicted in these forward-looking statements may differ materially from actual results or events.  The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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Temex Resources Corp.

CONTACT: For more information please visit www.temexcorp.com or

email: info@temexcorp.com or

phone: 416-862-2246 toll free: 866-373-6287