Kobex Terminates Exploration, Operating and Mine Development Agreement

VANCOUVER, BRITISH COLUMBIA, Mar 31 (MARKET WIRE) --
Kobex Resources Ltd. (Kobex) (TSX VENTURE: KBX) announces that effective
31 March 2008 it has terminated its agreement with the U.S. Energy Group
in relation to the Lucky Jack molybdenum Project in Gunnison County,
Colorado.

The decision was made reluctantly since the Lucky Jack (Mt. Emmons)
molybdenite property is still considered to be one of the best
undeveloped primary molybdenum deposits in the world. However, the
regulatory and legal uncertainties which currently exist at the Federal,
State, County and Municipal levels, in the Company's opinion, have become
too great to justify the necessary time and major pre-development
expenditures that are required to advance this property.

Roman Shklanka, Chairman of Kobex, stated "New regulatory initiatives
could affect the potential development of the property. These initiatives
include the Rahall Bill which proposes major reform to the current
Federal 1872 Mining Law and Colorado Bill HB1165 which proposes veto
power over mining development and operations to local government
authorities throughout the State. In addition, development moratoriums
are in place at the County and Municipal levels while land use
regulations are being extensively revised. If enacted, these initiatives
would result in more restrictive and prohibitive practices for project
development in the mining industry. This has created an uncertain
permitting process with no clear regulatory authority and places into
question what mineral title represents. Resolving these uncertainties
will be a time consuming process involving both legal challenges and the
American electorate."

The Company is well funded with over $20 million in the treasury and will
immediately focus on the numerous mineral opportunities which are being
brought to its attention.

On behalf of the Board of Directors

H. Leo King, President

This news release includes certain statements that express management's
expectation or estimates of future performance and may be deemed
"forward-looking statements". These forward-looking statements include
plans, estimates, forecasts and statements as to management's
expectations regarding the Lucky Jack Project. These forward-looking
statements involve assumptions, risks and uncertainties and actual
results may vary materially. For these reasons shareholders should not
place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that
may be published by Kobex may not be consistent with United States
Securities and Exchange Commission disclosure rules and may be materially
different from what the Company is permitted to disclose in the United
States and therefore United States residents should not rely on such
information.

TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this News Release.

Contacts:
Kobex Resources Ltd.
Leo King
President and Chief Executive Officer
(604) 484-6228

Kobex Resources Ltd.
Maurice Tagami
Chief Operating Officer
(604) 484-6228
(604) 688-9336 (FAX)
Email: investor@kobexresources.com
Website: www.kobexresources.com

Copyright 2008, Market Wire, All rights reserved.

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