Rockex Mining Announces Proposed Financing

ROCKEX MINING CORPORATION CSE: RXM

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S NEWSWIRE SERVICES

ROCKEX MINING ANNOUNCES PROPOSED FINANCING

April 12, 2021 – Thunder Bay, Ontario - Rockex Mining Corporation (“Rockex” or the “Corporation”) (CSE: RXM) is pleased to announce that it proposes to complete a non-brokered private placement (the “Offering”) which would be comprised of the issuance of up to (i) 6,666,666 common shares (each, a “Common Share”) at a price of $0.045 per Common Share for aggregate gross proceeds of up to $300,000; and (ii) 2,000,0000 flow-through shares (each, a “Flow-Through Share”) at a price of $0.05 per Flow- Through Share for aggregate gross proceeds of up to $100,000. Rockex reserves the right to increase or decrease the maximum number of Common Shares and the maximum number of Flow-Through Shares offered pursuant to the Offering and to terminate the Offering at any time without notice.

It is anticipated that the Offering will include subscriptions from related parties. As the maximum proceeds of the Offering will be less than 25% of the market capitalization of Rockex, the transaction is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 –Protection of Minority Security Holders in Special Transactions.

Each Flow-Through Share will be a common share of the Corporation issued on a “flow-through” basis pursuant to the Income Tax Act (Canada).

Proceeds from the sale of Flow-Through Shares will be used to fund mineral exploration expenses which qualify as “Canadian Exploration Expenses” (within the meaning of the Income Tax Act (Canada)) on the Corporation’s projects in Ontario. Proceeds received by the Corporation from the sale of the Common Shares will be used for operating expenses and to reduce the debts and liabilities of the Corporation. The Corporation may issue Common Shares pursuant to the Offering in settlement of bona fide debts of the Corporation.

All the securities issued pursuant to this Offering will be subject to a four (4) month hold period. Completion of the Offering is subject to receipt of all required regulatory and other approvals. Purchasers must be ‘accredited investors’ within the meaning of National Instrument 45-106 – Prospectus Exemptions or otherwise entitled to rely on prospectus exemptions under applicable securities laws.

About Rockex

Rockex is a Canadian exploration company focused on developing high quality iron ore assets strategically located in areas largely under-explored, and that host significant mineral potential. Its core asset is the Lake St. Joseph Project which includes the Eagle Island Deposit, as well as additional potential deposits at Wolf Island and Fish Island.

For further information, please refer to the Corporation’s profile on SEDAR which may be accessed at www.sedar.com, and visit our website at www.rockexmining.com.

Contacts:

Pierre Gagné, Chief Executive Officer of Rockex

Phone: (807) 623-2626 Email address: [email protected]

Cautionary Statements

This news release contains forward-looking information. All information, other than statements of historical fact, that address activities, events or developments that Rockex believes, expects or anticipates will or may occur in the future are forward-looking statements, including statements regarding the completion and filing of its financial statements. This forward-looking information is subject to a variety of risks and uncertainties beyond Rockex’s ability to control or predict and which may cause actual events or results to

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differ materially from those described in such forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Rockex disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Rockex believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, accordingly, undue reliance should not be placed on this forward- looking information due to the inherent uncertainty thereof.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.