NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES


Oremex Resources Inc. (TSX VENTURE:ORM)(OTCQX:ORXRF)(FRANKFURT:OSI) ("Oremex
Resources") is pleased to announce that it has completed its previously
announced spin-out transaction (the "Transaction") of its gold assets originally
announced by press releases dated July 21, May 20, 2011 and April 25, 2011. 


In connection with the Transaction, Oremex Resources received the following
aggregate consideration in exchange for 100 series 1 preference shares (the
"Preference Shares") of 7678576 Canada Inc. ("Oremex Gold"), a wholly owned
subsidiary of Oremex Resources: (i) 14,000,000 common shares in the capital of
Black Birch Acquisition I Corp. ("Black Birch") at a deemed price of $0.25 per
common share and representing approximately 40.27% of the issued and outstanding
common shares of Black Birch; (ii) 2,000,000 common share purchase warrants (the
"Preference Warrants") and; (iii) a promissory note in the principal amount of
$250,000 in favour of Oremex Resources to be paid in equal installments of
$125,000 on each of the one and two year anniversaries of the closing of the
Transaction. Each Preference Warrant is exercisable into one common share in the
capital of Black Birch at an exercise price of $0.50 for a period of two (2)
years following the closing of the Transaction. If all of the warrants held by
Oremex Resources were exercised, Oremex Resources would hold a total of
16,000,000 (or approximately 43.51%) of the then issued and outstanding common
shares of Black Birch. As a result of the foregoing, each of the Preference
Shares had an attributed value of $37,500. 


In connection with the Transaction, Oremex Gold, a wholly-owned subsidiary of
Oremex, amalgamated with 7834845 Canada Inc., a wholly-owned subsidiary of Black
Birch, a capital pool corporation (the "Amalgamation"). As a result of the
Amalgamation, the amalgamated entity ("Amalco") became a wholly-owned subsidiary
of Black Birch.


Final approval of the Transaction by the TSX Venture Exchange (the "TSXV") is
subject to Black Birch fulfilling all of the requirements of the TSXV in
connection with its qualifying transaction in accordance with Policy 2.4 of the
TSXV corporate finance manual.


Prior to the completion of the Transaction, Oremex Gold completed a private
placement (the "Offering") of an aggregate of 17,424,000 subscription receipts
(each, a "Subscription Receipt") at a price of $0.25 per Subscription Receipt
for gross proceeds of $4,356,000. In connection with the private placement of
Subscription Receipts, Oremex Gold has entered into agreements with arm's length
finders, pursuant to which the finders shall receive (i) a cash fee equal to
$286,510; and (ii) non-assignable broker warrants to purchase an aggregate of
286,510 Oremex Gold common shares at a price of $0.25 per share for a period of
2 years following the closing of the Transaction (the "Broker Warrants"). In
connection with the Amalgamation, each Subscription Receipt was automatically
exercised into one common share and one half of one common share purchase
warrant of Oremex Gold, which were immediately exchanged for common shares,
warrants and Broker Warrants of Black Birch on a one-for-one basis.


Effective as of the completion of the Transaction, the directors of Black Birch
are John Carlesso, Michael Smith, Chris Marcus and Henry Tse.


Wildeboer Dellece LLP acted as counsel to Oremex Resources and Oremex Gold.
Fogler, Rubinoff LLP acted as counsel to Black Birch.


The securities of Black Birch held by Oremex Resources are subject to the escrow
restrictions described in the early warning report filed by Oremex Resources
with Canadian securities regulatory authorities in accordance with applicable
Canadian securities laws. A copy of the early warning report is available under
Oremex Resource's SEDAR profile at www.sedar.com or may be obtained from Oremex
Resources by contacting John Carlesso at (416) 309-4322.


The parties relied on the petroleum, natural gas and mining properties exemption
available under section 2.13 of National Instrument 45-106 - Prospectus Exempt
Distributions. 


Oremex Resources completed the acquisition of the Black Birch securities as part
of the Transaction and does not have any specific intention to acquire
ownership, or control over, additional securities of Black Birch.


The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons absent registration
or an applicable exemption from registration requirements. This release does not
constitute an offer for sale of securities in the United States.


Investors are cautioned that, except as disclosed in the Filing Statement, any
information released or received with respect to the Transaction may not be
accurate or complete and should not be relied upon.


Cautionary Note Regarding Forward-looking Statements

Certain statements contained in this news release may constitute forward-looking
information, within the meaning of Canadian securities laws. Forward-looking
information may relate to this news release and other matters identified in
Oremex's public filings, Forward-looking information and anticipated events or
results and can be identified by terminology such as "may", "will", "could",
"should", "expect", "plan", "anticipate", "believe", "intend", "estimate",
"projects", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts and include, but are not
limited in any manner to, those with respect to capital and operating
expenditures, economic conditions, availability of sufficient financing, receipt
of approvals, satisfaction of closing conditions and any and all other timing,
development, operational, financial, economic, legal, regulatory and/or
political factors that may influence future events or conditions. Such
forward-looking statements are based on a number of material factors and
assumptions, including, but not limited in any manner, those disclosed in any
other public filings of Oremex, and include the ultimate availability and final
receipt of required approvals, sufficient working capital for development and
operations, access to adequate services and supplies, availability of markets
for products, commodity prices, foreign currency exchange rates, interest rates,
access to capital markets and other sources of financing and associated cost of
funds, availability of a qualified work force, availability of manufacturing
equipment, no material changes to the tax and regulatory regime and the ultimate
ability execute its business plan on economically favorable terms. While we
consider these assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect. Actual results may vary from
such forward-looking information for a variety of reasons, including but not
limited to risks and uncertainties disclosed in other Oremex filings at
www.sedar.com and other unforeseen events or circumstances. Other than as
required by law, Oremex does not intend, and does not undertake any obligation
to update any forward looking information to reflect, among other things, new
information or future events.