Oremex Silver Inc. Completes Name Change to Monarca Minerals Inc.

August 22, 2016 – Oremex Silver Inc. (TSXV:OAG) (“Oremex” or the “Company”) is pleased to announce that it has changed its name from “Oremex Silver Inc.” to “Monarca Minerals Inc.” pursuant to the provisions of the Canada Business Corporations Act. The name change was approved by shareholders at the Company’s annual and special meeting of shareholders held on July 7, 2016 and is effective as of August 22, 2016. The Company anticipates that it will begin trading under its new name on the TSX Venture Exchange and under the new symbol “MMN” at the opening of the market on August 24, 2016.

About Oremex Silver Inc.

Oremex is a Canadian company focusing on the exploration and development of silver projects along a highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including a mineral resource of 27.8 million ounces of silver (19.8 million tonnes at 45.0 g/t Ag) at its Tejamen deposit.

For further information, please contact:

Allan Folk

Interim Chief Executive Officer

Oremex Silver Inc.

E: Afolk.bb@gmail.com


Cautionary Note Regarding Forward-Looking Statements:

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.