Orex Reports More Positive Gold Assays, Including 46.46 g/t Over 10.5m, and Extends Gold Corridor 575m at Goldboro

Addition of up to five new zones 150m above the mined historic Boston- Richardson Zone 15 gold zones now identified over a 575m strike length, adds to the gold potential

OREX EXPLORATION INC. (TSX VENTURE: OX)(FRANKFURT: O5D) is pleased to provide its shareholders with additional gold assay results from the Phase 2 diamond drilling program on the Company's wholly-owned Goldboro Gold Project in north eastern Nova Scotia.

The Company completed 12,173m in 44 diamond drill holes in 2008, divided into three campaigns (refer to the appended Figure 1 - Location Map): 4,610m completed in 16 holes from Phase 2A (BR-08-01 to 16) of the Historic Boston-Richardson Mine;

4,598m completed in 17 holes from Phase 2B (BR-08-17 to 32) at East Goldbrook; and 2,965m completed in 11 holes from Phase 2C (BR-08-33 to 44) below the Phase 2A program at the Ramp area. Gold assay results from holes BR-08-01 to16 have already been released in 2008 (refer to Orex news releases on the Company's website or on SEDAR at www.sedar.com).

Current gold assay results from BR-08-17 to 23 of the Phase 2B drilling are appended (refer to the appended Table 1 that also includes assay protocols). Visible gold was observed in 6 of the 7 drill holes.

Assay interval highlights include:

BR-08-17 (Section 9150E): 3.35 g/t over 10.50m on the new BR1 - North Limb; 4.45 g/t over 4.00m on the new BR2 - North Limb; and visible gold was observed in both intervals and included metallic screen assay intervals of 7.02 g/t over 0.50m, 19.05 g/t over 0.25m and 28.9 g/t over 0.25m.

BR-08-18 (Section 9200E): 1.62 g/t over 19.00m on the new BR23 - South Limb and 2.02 g/t over 7.00m for the new BR1 - North Limb; and visible gold was observed in a section of the BR1 - South Limb which gave 7.19 g/t over 0.25m.

BR-08-19 (Section 9200E): 2.41 g/t over 6.00m in an, as yet, unidentified zone.

BR-08-20A (Section 9250E): 1.16 g/t over 10.00m on the new BR45 - South Limb, including a visible gold section which gave a metallic screen assay of 28.60 g/t over 0.25m; 2.75 g/t over 2.50 on the new BR2 - South Limb; 4.36 g/t over 9.00m on the new BR1 - South Limb, that also included a visible gold section which gave a metallic screen assay of 85.90 g/t over 0.25m; the new BR1 - North Limb gave 2.29 g/t gold over 3.75m.

BR-08-21 (Section 9250E): 2.72 g/t over 19.50m on the new BR1 - South Limb, including a metallic screen assay of 156.50 g/t over 0.25m.

BR-08-22 (Section 9325E): 9.54 g/t over 3.50m on the new BR5 - South Limb that included one visible gold section which assayed 63.30 g/t over 0.25m with the metallic screen assaying method; 15.30 g/t over 13.50m on the new BR4 - South Limb, including a metallic screen assay of 800.00 g/t over 0.25m; 2.23 g/t over 20.50m on the new BR23 - South Limb with two metallic screen assays of 76.00 g/t and 74.90 g/t over 0.25m, respectively.

BR-08-23 (Section 9325E): 13.09 g/t over 1.25m on the new BR5 - South Limb including a metallic screen assay of 63.80 g/t over 0.25 in a visible gold section; 61.78 g/t over 3.00m on the new BR4 - South Limb including a metallic screen assay of 709.00 g/t over 0.25 in a visible gold section; 0.82 g/t over 14.50m on the new BR1 - South Limb with a metallic screen assay of 158.50 g/t over 0.25m.

Impact of assay results to date

Assay results from drill holes BR-08-17 to 23 add strike length to the Boston-Richardson Anticlinal Structure and gold corridor, which now consists of 15 gold zones over a 575m strike length, up from 10 gold zones over a 225m strike length to a depth of 250m below the mined historic Boston-Richardson Zone, as reported in the 2006 National Instrument 43-101 Measured and Indicated Mineral Resources.

The addition of up to five new zones (BR1 to BR5) to date in the East Goldbrook area, drilled by Orex in the 1980s, cover new ground approximately 150m above the Boston-Richardson Zone. As with previous results, the new gold zones in the East Goldbrook area continue to show gold linked to quartz veins, stringers and stockworks and/or 2% to 5% sulphides bearing intervals in argillites-slates.

Mark Billings, President and CEO of Orex added, "We remain confident that assay results from the Phases 2A to 2C drilling will potentially add to existing resources. In 2009, the Company will continue to drill the Boston-Richardson Antiform Structure over its entire 2.5km length in successive drill programs totaling over 19km in 80 drill holes. Orex plans to update the geological and resource model and produce a new Mineral Resource estimate once all results from BR-08-01 to 44 are received later in Q1-2009."

The 2008-2009 Goldboro drilling campaign

The Phase 2A drill program (BR-08-01 to 16) has nearly doubled the strike length of the gold mineralization a further 200m between the Goldboro Ramp Resources eastward towards the Boston-Richardson Mine, outside the current limits of the defined NI 43-101 Mineral Resources (the "Resources") in the Goldboro Ramp Area (3,105,000 tonnes grading 2.36 g/t gold in the Measured and Indicated Resources categories). The campaign targeted the down-plunge extensions to the "123", "56", "78" and other zones of gold mineralization as they plunge shallowly to the east beneath the historic Boston-Richardson Mine at vertical depths ranging from -75m to -200m. Drill holes BR08-01 to 15 were drilled from south to north along a series of 10 sections spaced at 25m from 8775E to 8975E. BR08-16 was drilled from west to east and successfully drilled down-plunge within the "123" hinge zone to evaluate continuity of the zone of mineralization.

The Phase 2B drill program (BR-08-17 to 32) covered an additional 350m strike length extending from the historic Boston-Richardson Mine eastward towards the historic East Gold Brook Shaft. All holes were drilled from south to north on sections 9150E to 9500E spaced at 50m and targeted the down-plunge hinge of the historic Boston-Richardson Zone as well as other zones above the Boston-Richardson that plunge similarly eastwards towards East Goldbrook. Historic drill intersections in this area suggest the presence of similar "Slate Belt" zones above the Boston-Richardson that may correlate and form continuous zones with the East Goldbrook slate belts.

The Phase 2C drill program (BR-08-33 to 44) was recently completed. Logging and sampling of drill holes is in progress and all samples are expected to be in the laboratory by the end of January 2009. The Phase 2C drill program covered a 150m strike length beneath the Goldboro Ramp on a series of sections spaced at 25m apart from 8550E to 8700E. The program was designed to investigate gold potential of the deeper "56", "78" and "910" gold zones as they trend up-plunge just west of the Ramp area.

Extension of the expiry date on warrants

Orex Exploration Inc. announces the extension of the expiry date of 4,537,500 common share purchase warrants issued in connection with the private placement that closed on February 11, 2008 (first tranche) and March 10, 2008 (second tranche). Each warrant entitled the holder to purchase one common share of Orex at any time until February 11, 2009 and March 10, 2009, respectively, at a price of $0.15. Orex has extended the expiry date to February 11, 2010 and March 10, 2010, respectively. None of these warrants has been exercised and insiders of Orex hold approximately 40% of the warrants.

Private Placement

Orex also announces that it is continuing its non-brokered private placement of up to 16,666,667 Non-Flow-Through Units of the Company at $0.06 for gross proceeds of up to $1,000,000. Each Non-Flow-Through Unit consists of one Common Share and one common share purchase warrant, which is exercisable for one common share at $0.10 for three (3) years after closing.

Proceeds from the sale of the Units will be used for exploration and development, and for working capital purposes. Orex will pay commissions and finder's fees in connection with this private placement, in accordance with the rules and regulations of the TSX Venture Exchange and applicable regulatory authorities. The financing is subject to acceptance by the TSX-V.

About Orex Exploration Inc.

Orex Exploration Inc. is a Canadian based junior resource and exploration company trading under the symbol OX on the TSX Venture Exchange and O5D on the Frankfurt Stock Exchange. The Company holds a 100% interest in the Goldboro Gold Project in Nova Scotia. You are invited to browse the Company's website at www.orexexploration.ca.

The information contained in this news release has been prepared by Mr. Jean Lafleur, M. Sc., P. Geo., Technical Advisor at Orex. The drill campaign, core descriptions and assay sample preparations are being done under the supervision of Billy Shaw, P. Geo., of W.G. Shaw & Associates (Antigonish, Nova Scotia) and Mr. Alex Horvath, P. Eng., of A.S. Horvath Engineering Inc. (Ottawa, Ontario). All individuals are Qualified Persons under National Instrument 43-101 regulations.

A Surface map and Table are available at the following address: http://media3.marketwire.com/docs/OXA_FigureTable.pdf

The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this news release.

Contacts: Orex Exploration Inc Mark Billings, President and CEO 514-296-1641 This email address is being protected from spambots. You need JavaScript enabled to view it. Paradox Investor Relations 1-866-460-0408 This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Orex Exploration Inc.

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