September 18, 2024 – Vancouver, B.C. – Rex Resource Corp. (TSXV: OWN, FRANKFT: 94G) (“Rex” or the “Company”) is pleased to provide the following corporate update regarding several significant developments.
The Company is currently preparing permit applications for submission and will be seeking approval from the British Columbia Ministry of Energy, Mines and Low Carbon Innovation to conduct preliminary exploration activities on the two properties. Rex is committed to working closely with local communities, including First Nations, throughout the permitting process and potential future exploration activities, and would like to emphasize its dedication to responsible resource development and environmental stewardship. The Rex team remains focused on advancing the permit applications and ensuring a smooth path forward for project exploration.
Additionally, Rex recently completed the filing on SEDAR+ of an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) on the Company’s Rex property. The Report is entitled “NI 43-101 Technical Report on the Rex Property, British Columbia, Canada at -124.97º Longitude and 49.18º Latitude MAP 92F/02” and is dated effective June 17, 2024.
As previously disclosed by the Company, Rex has acquired an interest in two separate properties consisting of 16 mineral claims located in the Port Alberni Mining Division of British Columbia. The Rex and Mactush properties have been the subject of numerous work programs and ownership dating back to 1968. The area has produced numerous high-grade samples of gold, silver and copper.
The Company is currently reviewing the historic data available to rank the order of merit for an upcoming work program.
Finally, Rex announces that the Company has granted an aggregate of 600,000 stock options to one director (as to 100,000) and one consultant (as to 500,000), each of which is exercisable into one common share of the Company at a price of $0.05 per share for a period of five years and is subject to the terms and conditions of the Company’s 10% rolling share option plan. All the options vested immediately upon grant.
The geological information contained in this news release has been reviewed and approved by Alan Hitchborn, P. Geo. (B.C.), who is a qualified person as defined in NI 43-101.
About Rex Resources Corp.
Rex is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Rex owns an undivided 100% interest in eight contiguous mineral claims located near Port Alberni, British Columbia, generally known as the Rex Property, and has the option to acquire an undivided 100% interest in an additional eight mineral claims in proximity thereto known as the Mactush Property.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Leahy, Director
(604) 681-8835
info@rexresourcescorp.com
www.rexresourcescorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information in this news release may include, without limitation, statements relating to the potential of the Rex Property and/or Mactush Property, regulatory approvals, and future news releases and disclosure.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management’s ability to manage and to operate the business, and explore and develop the projects of Rex, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Rex may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Rex believes that the expectations reflected in forward looking statements are reasonable, the Company can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rex disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.