Knomex Resources Inc. - Annual Meeting Update.

TORONTO, Ontario--(BUSINESS WIRE)--Nov. 16, 1995--KNOMEX RESOURCES INC.(Alberta Stock Exchange: KNO ) Knomex Resources Inc. (the "Company") is pleased to announce that at the Annual and Special Meeting of Shareholders held on November 15, 1995 (the "ASM"), the shareholders overwhelmingly approved all matters set out in the Notice of Meeting, including the settlement of up to $800,000 of arm's length debt through the issuance of up to 4,000,000 free-trading common shares priced at $0.20 per share. Management is proceeding to finalize all matters relating to the debt settlement.

At the Directors' Meeting immediately following the ASM, Mr. John Butt resigned as President and C.E.O. of the Company and Mr. Andrew J. McQuire was appointed President and C.E.O. Mr. Butt was appointed Chairman of the Board. Mr. William F. Doerfling resigned as Vice-President - Finance, Chief Financial Officer and Secretary-Treasurer of the Company and Mr. Edward Trella, formerly Secretary-Treasurer of the Company, was appointed Secretary-Treasurer. Messrs. Butt and Doerfling remain directors of the Company along with Messrs. Trella, Peckford, Stolar, Desmarais, Rae, David and Frazier all elected by the shareholders at the ASM. The appointment of Mr. McQuire as President and C.E.O. is subject to regulatory approval.

Mr. McQuire is the executive Vice-President of Broad Oak Associates and holds a degree in Mining Engineering. Mr. McQuire is a Certified Management Accountant and a Professional Engineer. Mr. McQuire brings a wealth of mining experience to the Company.

The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Andrew McQuire,

President & C.E.O.,

or

John Butt,

Chairman,

416/365-0383