Orex Minerals Highlights Silver Viper's High-Grade Drill Results at La Virginia, Sonora, Mexico

The most recent news (March 24, 2026) highlights high-grade drill results from Silver Viper Minerals’ La Virginia project, including 11.70m at 9.18 g/t gold and 352.0 g/t silver. While these results belong to Silver Viper, they are material to Orex because Orex is in the process of becoming a significant shareholder of Silver Viper. Specifically, Orex is selling its 38.79% interest in the Coneto Project to Silver Viper for US$15 million in shares. The news confirms Orex will receive 9,908,438 shares of Silver Viper upon closing, reinforcing the value of the equity Orex will hold.

• Strategic Shift: The news confirms the transition of Orex from a project-level joint venture partner (with Fresnillo) to a strategic equity holder in a consolidated exploration vehicle (Silver Viper).
• Asset Valuation: The US$15M valuation for the Coneto interest is significant relative to Orex’s historical market cap. The drill success at Silver Viper’s other project (La Virginia) suggests the currency Orex is receiving (Silver Viper shares) is appreciating in fundamental value.
• De-risking: By selling to Silver Viper, Orex removes the burden of funding its 38.79% share of Coneto exploration costs, which had been a drain on its limited cash reserves.
• Incremental Nature: While the drill results are "exceptional," this specific news is a follow-up to the definitive agreement signed on March 16, 2026. It serves as a marketing validation of the "new" Orex strategy.

Orex Minerals is a junior exploration company historically focused on silver-gold projects in Mexico. - Flagship Project (Transitioning): The Coneto Silver-Gold Project in Durango, Mexico. Orex held a 38.79% interest in a JV with Fresnillo PLC. - Current Status: Orex is selling this interest to Silver Viper Minerals to become a major shareholder. - Secondary Assets: Sandra-Escobar (impaired to $nil) and Jumping Josephine (carrying value $1).