VANCOUVER, BC, Oct. 29, 2025 /CNW/ - Orex Minerals Inc. (TSX-V: REX) ("Orex" or the "Company") is pleased to announce that it has entered into a binding term sheet dated October 27, 2025 with Silver Viper Minerals Corp. (TSX-V: VIPR) (OTCQB: VIPRF) ("Silver Viper") and Fresnillo plc ("Fresnillo") to sell its interest in the Coneto Silver-Gold Project ("Coneto" or the "Project") located in Durango, Mexico.

Orex Minerals Inc. (CNW Group/Orex Minerals Inc.)

Transaction Summary:

Under the agreement, Silver Viper will acquire 100% ownership of the Project from Orex and Fresnillo through an all-share transaction.

  • Orex ownership sold: 38.79%.
  • Fresnillo ownership sold: 61.21%.
  • Consideration: 26,250,000 common shares of Silver Viper, at a deemed price of CAD$0.80 per share.
  • Valuation: The transaction values the Project at approximately US$15 million (CAD$21 million).
  • Post-closing ownership: Fresnillo and Orex will hold approximately 17% and 11% of Silver Viper, respectively (undiluted).
  • Additional terms: Anti-dilution rights granted to Fresnillo and formation of a technical committee for future project advancement.
  • Conditions: Completion remains subject to customary conditions, including satisfactory due diligence, board approvals, and acceptance by the TSX Venture Exchange and other regulatory authorities.
  • Finders fee: No finders fee will be payable by Orex in connection with the Transaction.
  • Closing date: The parties will work on closing the Acquisition expeditiously and no later than January 2026.