OREX MINERALS INC. ANNOUNCES SALE OF CONETO SILVER-GOLD PROJECT TO SILVER VIPER MINERALS CORP.

The most recent news (March 16, 2026) confirms Orex Minerals has entered a definitive agreement to sell its 38.79% interest in the Coneto Silver-Gold Project to Silver Viper Minerals Corp. for US$15 million (approx. C$21 million) in an all-share transaction. This follows a series of critical financial maneuvers, including a C$5 million private placement closed on March 9, 2026, which featured a C$500,000 investment from Eric Sprott. The Coneto sale is a non-arm's length transaction due to shared directorship (Steve Cope).

The impact is Material - Positive but carries specific structural risks. - Asset Monetization: The US$15M valuation for a minority stake (38.79%) is significant compared to Orex’s historical market cap and the C$2.5M carrying value on its October 2025 balance sheet. - Balance Sheet Transformation: Before these moves, Orex was in a dire liquidity position (C$33,396 in cash vs. C$1.13M in current liabilities as of Oct 31, 2025). The C$5M financing provides immediate survival capital, while the Silver Viper shares provide a massive, albeit paper, asset base. - Dilution: To achieve this, Orex issued 30.3 million units, nearly doubling its share count from the 36.2 million shares reported in late 2025. - Strategic Shift: Orex is moving from an active explorer/operator to a major shareholder in Silver Viper, effectively becoming a proxy for Coneto’s success without the immediate funding obligations.

Orex Minerals is a junior exploration company focused on Mexico. Its flagship was the Coneto Silver-Gold Project (Durango, Mexico), a joint venture with Fresnillo PLC. The project hosts over 40 epithermal quartz veins. Following the sale, Orex's primary value driver will be its equity stake in Silver Viper Minerals and its remaining interest in the Sandra-Escobar project (currently impaired to $nil).