Ramore & Elephant Lake Properties Acquired
November 2, 2007
Sedex Mining Corp. (TSXV: SDN) is pleased to announce, subject to regulatory approval, the acquisition of a 100% interest in two separate properties, called the Ramore & Elephant Lake Properties, located in the Playfair and Connaught Townships, respectively, in the Larder Lake Mining Division, Ontario. Consideration for the Properties consists of $45,000 And 250,000 shares, payable over a period of 24 months. There is also a 2% net smelter return payable, half of which may be purchased for $1,000,000.
The Ramore Property is located 36 km north-west of the Kirkland Lake gold camp in Ontario. The 15 unit claim block is accessible by dirt road approximately 5 kms west of the Trans-Canada Highway. The Property covers some of the earliest gold discoveries in northeastern Ontario with three documented shafts/pits, drillholes and large trenches dating back to the early 1900s. Limited exploration work has been done on the Property since that time due, in part, to a fractionated land package which is now consolidated into the Ramore Property. The Property contains late-staged, syenite intrusives and shear systems with sulphide, quartz and gold mineralization. The Company plans to complete ground geophysics and geochemistry to outline possible gold zones beneath the largely overburden and swamp covered property prior to drilling and trenching.
The Elephant Lake Property consists of a 16 unit claim that is accessible by road. A small massive sulphide zone containing copper, zinc, gold and silver mineralization occurs within a mafic and felsic volcano-sedimentary package in the Archean basement rocks. The following description is contained in O.G.S. Report #190, describing work by Royal Agassiz Mines Ltd in 1971: "The showing, where blasted into, is at least 12 feet wide with the walls yet to be determined. Striking northwest - southeast, it is in a rhyolite host rock lying up against a strong band of iron formation. A grab sample taken by Mr. Robbins from a 4-foot massive section within the trench assayed 10.80% copper, 0.23% zinc, 4.90 oz/t silver, and 0.10 oz/t gold. Likewise, a grab sample from the lower grade disseminated material in the wall returned 1.52% copper, 0.04% zinc, 0.72 oz/t silver, and 0.07 oz/t gold."
The zone was first discovered during the 1950s. The majority of exploration work done since that time has focused on the showing area. The company plans to fly the property with a state-of-the-art VTEM airborne system to locate potential volcanogenic massive copper and zinc mineralization on strike with the showing and at depth below the detection limits of older geophysical surveys.
The Company also announces that it has granted 510,000 incentive stock options to insiders of the Company and 1,197,500 options to non-insiders. The options can be exercised at a price of $0.16 per share for a period of five years.
About Sedex
Sedex is well positioned to discover and capitalize on world class gold, silver, copper, nickel and zinc deposits. During the last couple of years the Company has strategically accumulated large land packages in existing mining or mineral districts such as the Abitibi in Ontario. These properties have existing infrastructure and are often within road access to metallurgical facilities to process mined ores. Details relating to exploration activities on specific properties will be announced during the coming months as the work program is implemented.
On behalf of the Board of Directors
SEDEX MINING CORP.
/s/ “Richard W. Hughes”
Richard W. Hughes, President
For Further Information Contact: The Hughes Exploration Group
Phone: (604) 685-2222
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the corporation’s control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward looking statements.
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