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Message #31
From: News-Bot
Date: January 29, 2009 01:15:38 PM

URXE Provides Update On Mining Operations In Argentina

Urex Energy Corporation (the “Company” or “Urex”) (OTCBB: URXE stock forums) reports that geological modeling of uranium mineralization on the Company’s Cerro Solo South (CSS) zone exhibits lateral stratigraphic continuity and remains open to the south. The Company’s Cerro Solo South uranium project is located in southern Argentina and lies on southwest edge of Comision Nacional de Energia Atomica’s (CNEA) Cerro Solo uranium deposit.

Seventeen drill holes were completed in the CSS area which identified uranium mineralization hosted in flat lying sandstone and conglomerate of the Cretaceous Los Adobes Formation. The CSS uranium zone yielded a peak uranium value of 10.0 lbs of eU3O8 per ton (0.42 eU%). Partial drill results for CSS are given in Table 1.

Table 1 – Partial Drill Results from CSS Project Area – Argentina

Hole ID

   

From

(m)

  To (m)     Interval (meter)     eU3O8 (Lbs/Ton)*     eU (%)
RC08007r     60.47   61.59     1.12     0.73     0.031
RC08008r     70.5   71.66     1.16     3.48     0.144
RC08009r     92.48   94.65     2.17     0.93     0.039
RC08010r     73.75   77.71     3.96     2.33     0.099
RC08011r     69.68   70.26     0.58     1.19     0.05

* .5 lbs/ton eU3O8 cutoff used in all drill holes

The Company controls mineral claims for 12 kilometers on trend to the southeast from the CSS uranium mineralization providing room for new exploration to expand existing mineralization in 2009.

All of the drill holes on the Company’s uranium properties in Argentina are logged with a Company owed down-the-hole Calibrated BGR-01 4-Channel Gamma Probe operated by in-house technicians. The BGR-01 4 Channel Gamma Probe was calibrated in February 2008 at the Canadian government calibration site at Fredericton, New Brunswick under the supervision of the manufacturer and is the only calibrated gamma probe in Argentina.

To date, Urex has completed 88 drill holes totaling 7624 meters of drilling in southern Argentina since February 2008 on five project areas.

“The Company believes that its drilling during 2008 in the Cerro Solo area is proof of concept that Comision Nacional de Energia Atomica’s (CNEA) exploration activities in the 1970’s & 80’s did not discover all the uranium in the District. We further believe that the Cerro Solo area has remarkable similarities to the Grants Uranium District of New Mexico, which is the largest historic uranium producing district in the United States,” stated Richard Bachman, President of Urex.

About Urex Energy Corporation

Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.

Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits.

Between 1950 and 1978 the Grants Mining District produced 270 million pounds of uranium oxide which ranks it as the most prolific uranium district in the United States.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (1) Urex reports that geological modeling of uranium mineralization on the Company’s Cerro Solo South (CSS) zone exhibits lateral stratigraphic continuity and remains open to the south; (2) Cerro Solo South uranium project is located in southern Argentina and lies on southwest edge of Comision Nacional de Energia Atomica’s (CNEA) Cerro Solo uranium deposit; (3) company believes that the current drill hole at Cerro Solo is proof of concept that Comision Nacional de Energia Atomica’s (CNEA) exploration activities in the 1970’s & 80’s did not discover all the uranium in the District. We further believe that the Cerro Solo area has remarkable similarities to the Grants Uranium District of New Mexico, which is the largest historic uranium producing district in the United States; and (4) Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico.

It is important to note that actual outcomes and Urex’s actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) Urex’s ability to obtain funding and maintain adequate working capital requirements to engage contractors and equipment to complete planned exploratory programs; (2) the ability of contractors to complete planned exploratory and drilling programs according to scheduled timelines; (3) the ability of Urex and its contractors to cope with labor shortages, equipment malfunctions, adverse weather conditions and to obtain necessary permits and approvals; (4) changes in operating costs, economic conditions and conditions in the precious metals industry; (5) litigation, legislation, environmental, judicial, regulatory, political and competitive developments in areas in which Urex operates; (6) reliance on drill test results, which may not be indicative of actual mineralization; and (7) reserves, results of exploration, capital costs, drilling programs and mine production costs differing from Urex’s forecasts and/or expectations. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.

Urex Energy Corporation
Investor Relations
Mr. Al Kau, 888-795-3166
info@urexenergy.com
www.urexenergy.com

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