Samex Mining Corp. announced that despite of the management's efforts, to date, the company has not been able to identify a suitable strategic alternative. Present company operations will immediately cease, and the board and senior management have announced their intentions to resign. For the time being, SAMEX continues to be a reporting issuer and remains in good corporate standing under the BC Business Corporations Act, and has no material debts or liabilities at the parent level.

The company also announced the intentions of the board and senior management to resign from the company. Sasan Sadeghpour, Director and Interim Chief Executive Officer intends to resign. Larry McLean, Interim Chief Financial Officer intends to resign. Brenda McLean, Interim Corporate Secretary intends to resign. James Pappas, Director intends to resign. Travis Cocke, Director intends to resign.