Urex Energy Corporation Starts Mineral Exploration in Argentina's Chubut Province

Urex Energy Corporation (the “Company” or “Urex”) (OTCBB:URXE) reports that it has obtained exploration permits from mining officials in Argentina and has started its uranium exploratory program. The program is intended to include airborne geophysics, ground geologic mapping and prospecting, and drilling.

The Company is in the process of securing a drill rig to implement a proposed Cerro Solo Extension drilling program designed to drill test for extensions of known uranium mineralization adjacent to and on trend with the Cerro Solo uranium deposit. Environmental permitting is complete with final land access agreements nearly complete. Drilling is expected to start in January 2008, but the final start date will depend on drill rig availability.

The Company has contracted with New-Sense Geophysics Ltd. of Thornhill, Ontario, Canada, to complete a fixed wing aeromagnetic/radiometric survey over its Argentine properties. The survey will start in early November 2007 and is expected to be completed within about four weeks. The geophysical survey is designed to identify fault structures and surface uranium anomalies across the Company’s 170,000-hectare land position. The last airborne geophysical survey flown in the region was completed in 1978 before the use of GPS (Global Positioning Systems) and therefore lacked precise geographic control. The Company’s geologists believe that the current state-of-the-art airborne system will provide new understanding of uranium occurrences within the Chubut Basin and will accelerant target definition.

A comprehensive field program is planned to follow the airborne survey and is designed to characterize uranium anomalies in preparation for drill testing. Urex is fielding a young, energetic team of geologic professionals who will conduct the field program guided by South American Manager Oscar Yokoi and Brian Cole, Urex’s Professional Geologist.

Management believes in the technical viability of the project and robustness of Argentina for new uranium discoveries. The Cerro Solo project area represents a small fraction of the total property holdings controlled by Urex in Argentina.

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