Urex to Continue Uranium Exploration on the Carbon Project in Argentina

Urex Energy Corporation reports that uranium mineralization discovered on the Company’s Carbon Project lies at average depth of 29 meters below the surface and is potentially exploitable by surface mining methods. The Carbon project lies 3 kilometers east of Comision Nacional de Energia Atomica’s (CNEA) Cerro Solo uranium deposit. Cerro Solo is located in southern Argentina within the Province of Chubut approximately 250 kilometers west of the city of Trelew, a major trading and transportation center on Atlantic Ocean.

Thirty-seven drill holes were completed on the Carbon Project during the 2008 field season identifying thick zones of anomalous uranium mineralization related to high concentrations of organic carbon in the Cretaceous Los Adobes Formation. Drill hole RC08037r returned a peak uranium value of 5.74 lbs/ton eU3O8. Uranium mineralization is open to the south where Urex controls mineral claims for 9 kilometers on trend.

The Company plans to conduct a phase two drill program consisting of a minimum of 2000 meters of RC drilling designed to extend know uranium mineralization to south.

To date, Urex has completed 88 drill holes totaling 7624 meters of drilling in southern Argentina since February 2008 on five project areas.