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

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

VANCOUVER, BC, May 4, 2026 /CNW/ - Orex Minerals Inc. (TSXV: REX) ("Orex" or the "Company") is pleased to announce that it has closed its previously announced sale of the Coneto Silver-Gold Project ("Coneto" or the "Project") located in Durango, Mexico (the "Transaction").

Pursuant to the Transaction, Orex and Fresnillo plc ("Fresnillo", and together with Orex, collectively, the "Vendors") sold all of the outstanding shares of the corporate joint venture which currently holds the Coneto Project to Silver Viper Minerals Corp. (TSX-V: VIPR) ("Silver Viper"). Silver Viper issued an aggregate of 25,531,875 common shares to the Vendors (the "VIPR Shares") in satisfaction of the US$15 million purchase price (C$20,425,500), each VIPR Share issued at a deemed price of C$0.80 per share. The VIPR Shares issued to Orex on closing of the Transaction are subject to a statutory 4-month hold period under applicable Canadian securities laws.

John Eren, Chief Executive Officer of Orex, commented:

"The completion of the Coneto sale marks an important strategic milestone for Orex. Monetizing a non-core asset through equity in Silver Viper allows us to maintain meaningful exposure to Coneto's exploration upside while strengthening our balance sheet and sharpening our focus on advancing our core Sandra Silver-Gold and Jumping Josephine Gold projects. We believe Silver Viper is well positioned to unlock the full potential of Coneto."

About the Coneto Silver-Gold Project:

The Project is located approximately 100 kilometers north of Durango City, within the historic Coneto Mining District, one of Mexico's oldest and most prolific silver-gold camps. The district hosts some of the country's most significant deposits, including Fresnillo, Guanajuato, and Zacatecas, as well as nearby development projects such as La Preciosa (Avino Silver & Gold Mines Ltd.) and La Pitarrilla (Endeavour Silver Corp.).

The Project covers 4,995 hectares of mineral concessions. More than 40 known epithermal quartz veins have been mapped across several kilometers of strike, with some exceeding 20 meters in width and extending for over a kilometer.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. is a precious and base metals exploration company with projects in Mexico and Canada. The Company's portfolio includes the Sandra Silver-Gold Project (Durango State, Mexico), in partnership with Pan American Silver Corp., and the Jumping Josephine Gold Project in British Columbia, Canada. Orex is led by an experienced team of mining and exploration professionals dedicated to value creation through strategic project advancement and partnerships.

ON BEHALF OF THE BOARD OF DIRECTORS,

John Eren
President & CEO

Tania Archer
Corporate Development

STAY CONNECTED
X (Twitter): @orexminerals
LinkedIn: @orexminerals
Instagram: @orexminerals
Facebook: @orexmineralsinc

FORWARD LOOKING STATEMENTS
This news release may contain forward-looking statements, including but not limited to statements regarding the completion of the transaction, project advancement, and future exploration activities. Forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially. Orex undertakes no obligation to update such statements except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information on risks and uncertainties, refer to the Company's most recently filed annual MD&A available on SEDAR+ (https://www.sedarplus.ca) and the Company's website.

SOURCE Orex Minerals Inc.