Tirex Provides Update As reported by Tirex Resources Ltd. (“Tirex” or the “Company”) in a news release dated
7
488-1090 West Georgia St. Tel: 604-687-7130 www.tirexresource s.com
Vancouver B.C. i n f o @ t i r e x r e s o u r c e s . c o m
C a n a d a V 6 B 1 L 8 TXX: TSX-V
O c t o b e r 1 0 , 2017 - NR 10-2017
NEWS RELEASE
Tirex Provides Update
As reported by Tirex Resources Ltd. (“Tirex” or the “Company”) in a news release dated July 18,
2017, Tirex received a proposal to fund the company's work plan s at the Rehova project through an
earn-in agreement with a Canadian public company. The proposal was subject to various terms and
it was previously reported that there was no assurance that the terms and conditions of the funding
offer described in the July 18, 2017 news release would be met, no assurance that this proposed
funding would materialize into a commercial agreement, and there was no certainty that this proposal
would complete. The Company updates that this proposal will not proceed.
Further, as previously reported, the Tirex financing first anno unced on February 15, 2017, and
subsequently extended, did not close and will not proceed.
With no availability of working capital, the company then announced that it requested and received a
cumulative total of $313,700 in advances from Directors, former Directors and shareholders. These
advances allowed the company to carry out exploration work at R ehova as reported by the company
on August 29, 2017. These advances bear no interest, are unsecured and are payable upon demand.
No further equity funding has been received after these advances, and the company reports that it has
now received additional advances of approximately $15,000 from Directors for various necessary
expenses. These advances also bear no interest, are unsecured and are payable upon demand.
On March 30, 2017, Tirex announced a Memorandum of Understandin g (“MOU”) to acquire 100%
of Cerovina Property in Kosovo under which Tirex has the option to earn 80% interest on the property
by meeting various milestones and spending €2.0 million on the property within 5 years, and paying
a total of €60,000 and issuing 1.0 million common shares to the claim owner within 3 years after
signing of the Agreement. The initial payment of €20,000 and is suance of 400,000 common shares
required under the terms of the MOU is now payable on or before December 31, 2017 rather than
May 27, 2017 under an Option Agreement signed recently.
Tirex is in discussions with major stakeholders, including its major creditor, with regards to possible
alternatives and restructuring in itiatives through which the co mpany can potentially capitalize its
business in order to maintain and advance its projects.
On Behalf of Tirex Resources Ltd.
Page 2 of 2
Fred Tejada
CEO and Director.
Forward-Looking Statements . This Tirex News Release may contain certain "forward-looking"
statements and information relating to Tirex. Such statements include but are not limited to statements
about the Award, the production arrangements and the timing of the mine development, mill
construction and ore production. Often forward-looking statements or information include words such
as "plans", expects", "intends", "anticipates", "estimates" "forecasts", or variations of such words and
phrases or statements that certain actions, events or results "may", "could", "would", "might" or will
be taken occur or be achieved. Although forward-looking stateme nts and information contained in
this release are based on the beliefs of Tirex management, whic h we consider to be reasonable, as
well as assumptions made by and in formation currently available to Tirex management, there is no
assurance that the forward-looking statement or information wil l prove to be accurate. The
assumptions made include assumptions about Tirex's ability to move forward with the licensing. The
forward-looking statements and information contained in this re lease are subject to current risks,
uncertainties and assumptions related to certain factors includ ing, without limitations, obtaining all
necessary approvals, feasibility of mine and plant development, exploration and development risks,
expenditure and financing requirements, title matters, operatin g hazards, metal prices, political and
economic factors, competitive factors, general economic conditi ons, relationships with vendors and
strategic partners, governmental regulation and supervision, se asonality, technological change,
industry practices, and one-time events as well as risks, uncer tainties and other factors discussed in
our quarterly and annual and interim management's discussion and analysis. Should any one or more
of these risks or uncertainties materialize or change, or shoul d any underlying assumptions prove
incorrect, actual results and forward-looking statements and in formation may vary materially from
those described herein. Accord ingly, readers should not place u ndue reliance on fo rward-looking
statements and information contained in this release. We undertake no obligation to update forward-
looking statements or information except as required by law.
"Neither the 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
news release."