TEMEX ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

TORONTO, Nov. 26 /CNW/ - Temex Resources Corp. (TSX Venture: TME, Frankfurt: TQ1) ("Temex" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement (see the Company's news releases dated November 8, 2010 and November 19, 2010) (the "Non-Brokered Financing"), pursuant to which an aggregate of 2,500,000 units (the "Units") were sold at a price of $0.40 per Unit, raising gross proceeds of approximately $1,000,000.  Each Unit consists of one common share and one-half of one common share purchase warrant.  Each whole common share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.55 for a 24-month period. 

The net proceeds raised from the Non-Brokered Financing are expected to be used to fund exploration work on the Company's gold properties in Ontario and for general corporate purposes.

The Company will pay an aggregate cash finder's fee of $19,800 in connection with the Non-Brokered Financing.

The securities issued under the Non-Brokered Financing are subject to a hold period expiring on March 27, 2011.

On behalf of the Board of Directors,

"Ian Campbell"

Ian Campbell
President and CEO

About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district. Temex is focussed on developing the Timmins Gold Project, and specifically the property known as Whitney, in partnership with Goldcorp and at the same time advancing its 100% owned Juby Gold Project, one component of which is the 100% owned Juby Lease Property which contains a National Instrument 43-101 Indicated resource of 614,000 ounces of gold and an Inferred resource of 602,000 ounces of gold. 

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's anticipated use of proceeds from the Non-Brokered Financing. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to obtain TSX Venture Exchange approval of the Non-Brokered Financing, general business and economic uncertainties, future mineral prices and adverse market conditions, as well as those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information (such assumptions including that final approval will be obtained by the Company from the TSX Venture Exchange with respect to the Non-Brokered Financing) in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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For further information:

please visit www.temexcorp.com or
email: [email protected] or
phone: [phone]  toll free: 866-373-6287