UrAmerica

Letter of Intent - UrAmerica - Urex (01.12.2009)

Please find attached Urex Energy Corp's recent Press Release about UrAmerica

December 01, 2009
Urex Signs Letter Of Intent With Uramerica For The Sale Of Argentine Subsidiary

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December 1, 2009 - Reno, Nevada -- Urex Energy Corporation (the "Company" or "Urex") (OTCBB: URXE) reports that it has signed a Letter of Intent with UrAmerica Ltd of London, U.K. for the sale of the Company's Argentine subsidiary, United Energy Metals SA (UEM).

The agreement provides for a US$500,000 dollar cash payment to Urex with UrAmerica assuming a maximum liability of US$275,000 for the outstanding UEM debts.

The Company will use the proceeds of the sale to pay down debt and to focus on developing its 100% owned La Jara Mesa Extension uranium property in New Mexico. The La Jara Mesa property is in the process of obtaining exploration drill permits.