| October 18, 2006 Urex Energy Announces New South American Manager | |
| October 18, 2006 - Reno, Nevada - Urex Energy Corporation (the "Company" or "Urex") (OTCBB: URXE) is pleased to announce that Mr. Oscar Yoshitaka Yokoi has agreed to join Urex as its South American Manager. Mr. Yokoi has more than 29 years of mining and mineral exploration experience having received a Bachelors of Science in Geology (1977) from the University of Sao Paulo and a Masters of Arts in Business Administration (2003) from UNA Belo Horizonte. During his career, Mr. Yokoi was employed by BP Minerals, Brascan, Homestake Mining Company, Votorantim and JOGMEC and has consulted for CVRD, Placer Dome, and Meridian Gold. Mr. Yokoi will take charge of Urex's Rio Chubut Project included in which is the recently announced drill program on the Cerro Solo Block that comprises a seismic refraction geophysical survey and a 30 hole drill program. Urex's Cerro Solo Claim Block borders CNEA's 10 million pound Cerro Solo Uranium Deposit. In addition, Mr. Yokoi will direct a comprehensive geologic review of the entire Rio Chubut Property (170,000 hectares) with the objective of screening uranium anomalies for future drill testing. More than 2,300 radiometric anomalies were defined in the Chubut Basin by airborne geophysical surveys conducted by Comision Nacional de Energia Atomica ("CNEA") of Argentina (CNEA, 1997). The Chubut Basin with permissive geology and lack of an intensive exploration history presents an excellent opportunity for the discovery of new uranium deposits. 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 pound of uranium oxide which ranks it as the most prolific uranium district in the United States. For more information please contact: Mr. Richard Bachman, President Tel: (775) 721-8883 Email: info@eurexenergy.com www.urexenergy.com 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 press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including the statement that the intensive exploration history presents an excellent opportunity for the discovery of new uranium deposits. Actual results relating to, among other things, reserves, results of exploration, capital costs, drilling programs and mine production costs could differ materially from those currently anticipated in such forward-looking statements. Factors affecting forward-looking statements include: the speculative nature of mining exploration and development activities; changes in ore reserve estimates; the productivity of Urex's mining properties; changes in the operating costs; changes in economic conditions and conditions in the precious metals, foreign exchange and other financial markets; changes in the prices for precious metals or other minerals Urex develops or produces; changes in investment and exploration expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Urex operates; technological, mechanical and operational difficulties encountered in connection with Urex's mining activities; and labour relation matters and costs. You should refer to the risk disclosures set out in our annual report and other disclosure documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. | |
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