TORONTO, Feb. 29 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME, Frankfurt:TQ1) (\"Temex\" or \"the Company\") provides the following update on its activities on the Webequie Project in the area of the Noront Resources Ltd. Double Eagle Project. Since Noront Resources Ltd. (\"Noront\") first released its initial assessment of the discovery drill holes into its Eagle One nickel-copper-platinum-palladium (\"Ni-Cu-PGE\") deposit, Temex has been actively positioning itself to become the largest property interest holder in the Webequie or McFaulds Lake area. To that end the Company embarked on an extensive staking and partnership program that started even before any assay results were available from the initial Noront drill holes and that program has continued until present. The Company and its partners have now commenced extensive airborne geophysical surveys that will provide the basic data to evaluate the potential for the properties to host various types of mineralization including Ni-Cu-PGE deposits (similar to Noront's Double Eagle), volcanogenic copper-zinc deposits (similar to KWG Resources Inc. and Spider Resources Inc.), gold targets (similar to Lake Shore Gold Corp. and Superior Diamonds Inc.), and diamond deposits (similar to De Beers Canada Victor Mine). The first priority targets will be Noront type targets that in general are readily apparent from analysis of only magnetic and electromagnetic data resulting from the airborne geophysical surveys. Once the airborne data is available, the Company will determine the logistics and timing for a near term follow-up program of ground geophysics and diamond drilling. Commented Bruce Durham, Executive Chairman, \"As the largest property interest holder in the Webequie - McFaulds Lake area we are excited to hear of Noront's discovery of a second area of nickel-copper mineralization and we remain convinced, as we were at the initiation of our land acquisition program, that this area is going to be Canada's next significant new mining camp. We have positioned ourselves to be one of the most aggressive explorers in the area. With our geophysical data just beginning to arrive we are now preparing to ramp up our exploration for the next Noront type discovery.\" The company's activities to date include the acquisition of property interests in more than 7,500 mining claim units covering more than 300,000 acres. Through various prospecting arrangements and option agreements the Company has interests in these properties varying from 100% interest to residual royalty interests. In addition to land acquisition, Temex and its partners have initiated airborne geophysical surveys over nearly all of the properties. For almost all of the properties this will be the first detailed geophysical data ever collected over the properties and the first recorded exploration on the properties. A map illustrating the land holding in which Temex has an interest is included in the recent presentation posted on the Company website. << Project Summary Temex: MacDonald Mines Exploration Ltd. Joint Venture - 1,700 claim units covering 68,000 acres - 50% Temex - Airborne geophysics complete - Partial results received - Data being evaluated for follow-up drill program March-April 2008 Temex: Baltic Resources Ltd.: MacDonald Mines Exploration Ltd. Joint Venture - 820 claim units covering 32,800 acres - 25% Temex - Airborne geophysics underway, or complete - Data expected in March 2008 - Ground follow-up and diamond drilling expected in Q2 2008 Temex: Mill City Gold Corp. Option and Joint Venture - 1,012 claim units covering 40,480 acres - 50% Temex; partner funding program - Airborne geophysics underway, nearing completion - Data expected in March 2008 - Ground follow-up and diamond drilling expected in Q2 2008 Temex: East West Resource Corporation Option and Joint Venture - 333 claim units covering 13,320 acres - 50% Temex; partner funding program - Land acquisition complete as of end of February 2008 - Airborne geophysical surveys underway - Survey completion March 2008 - Data expected in March-April 2008 - Ground follow-up geophysics and diamond drilling expected in Q2 2008 Temex Royalty Properties - 1,256 claim units covering 50,240 acres - 1% Net Smelter Returns Royalty; no expenditures by Temex - Airborne geophysical surveys underway by Baltic, Noront and/or partners - Temex uncertain of timing of programs and plans for future work Temex 100% Properties - 2,050 claim units covering 81,720 acres - Land acquisition to be complete as of early March 2008 - Airborne geophysical surveys underway - Survey completion early March 2008 - Data expected in March-April 2008 - Ground follow-up and diamond drilling expected in Q2-Q3 2008 - Various property descriptions and summaries to be provided once staking and recording is completed - Properties include land adjacent to the east, west and south of International Nickel Ventures Inc. Lansdowne House Project - Properties also include land adjacent to the north, east and southeast of current gold exploration drill program being carried out with two drills by Superior Diamonds Inc. and Lake Shore Gold Corp. >> Bruce Durham, P.Geo., is the designated Qualified Person responsible for the preparation of this news release. Investors are invited to visit the Temex IR Hub at http://www.agoracom.com/ir/Temex\">http://www.agoracom.com/ir/Temex where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to mailto:TME@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time. Please visit Temex at Booth 2412 in the Investors Exchange, March 2-3 at PDAC 2008, Metro Toronto Convention Centre - South Building. Temex is a well-funded Canadian exploration company advancing its precious metal, nickel, diamond, and uranium projects in Ontario. On behalf of the Board of Directors, \"Ian Campbell\" Ian Campbell President and CEO * The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release * %SEDAR: 00005513E