Apex Resources Sells Remaining Stake in the Kena Property to West Mining
APEX RESOURCES INC.
Suite 500 – 666 Burrard Street
Vancouver, B.C. V6C 2X8
www.apxresources.com
April 12, 2021 TSX Venture Exchange Symbol: APX
Apex Resources Sells Remaining Stake in the Kena Property to West Mining
April 12, 2021, Apex Resources Inc. ("Apex”) (TSXV: APX) is pleased to announce that subject
to regulatory approval, it has entered into an asset purchase a greement (the “Agreement”) on
April 7, 2021 with West Mining Corp. (“West”) for West to acqui re Apex’s remaining 20%
interest in the Kena and Daylight Gold-Copper Properties (the "Project") in Bri tish Columbia in
exchange for: aggregate cash pa yments of $300,000; an aggregate of 1,500,000 common shares
of West (each, a “Share”); and West granting Apex a 1.0% net sm elter returns royalty on the
Project, with West having the right to purchase the NSR for $50 0,000 at any time prior to the
commencement of commercial production on the Project.
Closing of the Agreement is subject to receipt of approval of t he Canadian Securities Exchange
(if and required) by West and of the TSX Venture Exchange by Ap ex. Apex has received a
$100,000 cash payment on execution of the Agreement, with the r emaining $200,000 due upon
regulatory approval. West will issue the Shares to Apex on the closing date as follows: 375,000
Shares will be subject to a four month hold period; additional 375,000 Shares will be subject to a
four month hold period and a volunt ary six month escrow period; and additional 750,000 shares
will be subject to a four month hold period and a voluntary 12 month escrow period.
The Project covers approximately 8,000 hectares of mineral clai ms located near Nelson, British
Columbia. The Kena property is comprised of the Kena Gold, Gold Mountain and Copper King
showings together with the historic Euphrates and Gold Cup gold mines. The adjacent Daylight
property is comprised of the historic Daylight, Starlight, Victoria and Great Eastern gold mines.
Apex had previously entered into an option agreement (“the Opti on”) (see Apex’s News Release
of September 26, 2016) with 1994854 Alberta Ltd. (“1994854”), a wholly owned subsidiary of
Boundary Gold and Copper Mining Ltd. (“Boundary”), whereby 199 4854 has an option to earn
an 80% interest in the Project. In conjunction with the asset purchase agreement with Apex,
West has also entered into an amending agreement dated April 7, 2021 with Boundary and
1994854 which amends a share option agreement dated as of Janua ry 25, 2021 between the
parties (see the West’s press release dated January 26, 2021 fo r a description of the share option
agreement). Under the share option agreement, West has the rig ht to acquire all of the issued
and outstanding shares of 1994854 from Boundary. T h e a m e n d i n g a g r e e m e n t p r o v i d e s t h a t
West can complete its acquisition of all of 1994854’s shares from Boundary.
On closing of the acquisition of the Project from Apex and of t he 1994854 shares from
Boundary, West will hold a 100% in terest in and to the Project, subject to the NSR granted to
Apex described above and the underlying NSRs described in West’ s press release respecting the
Project dated January 26, 2021.
Arthur Troup, President and CEO of Apex, stated, “Apex wishes t o thank the Management of
West Mining Corp., Boundary Gold and Copper Mining Ltd. and 199 4854 Alberta Ltd. for the
professionalism and cooperation in facilitating this transaction. This transaction will allow Apex
to focus resources on the further advancement and development o f Apex’s other projects: the
Jersey Emerald, Ore Hill and Mt. Anderson properties.”
About Apex Resources Inc.
Apex is a Canadian mining explor ation and development company f ocused on British Columbia
and the Yukon Territories. Apex has a portfolio of quality properties including:
1. The Jersey-Emerald tungsten-zinc property in southern BC.
2. The Ore Hill gold property in southern BC.
3. The Mount Anderson gold-silver property in the Yukon.
Apex management has a track record of mine discovery that inclu des the discovery and
development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-
molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Ma laysia now under
development by Monument Mining Ltd.
For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: [email protected] or [email protected]
This release was prepared by Apex's management. Neither TSX Vent ure Exchange nor its Regulation Services Provider (as the term is defined in
the policies of the TSX Venture Exchange) a ccepts responsibility for the adequacy or accu racy of this release. This news releas e includes certain
statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address
future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expect s are forward-
looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonabl e assumptions,
such statements are not guarantees of future performance and act ual results or developments may differ materially from those in the forward-
looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements inclu de market prices,
exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarant ees of future performance and t hose actual results or developme nts may differ
materially from those projected in the forward-looking statemen ts. For more information on Apex, investors should review Apex's filings that are
available at www.sedar.com or Apex's website at www.apxresources.com.