ExGen Announces $2,000,000 Common Share Private Placement

CAN: 28191864.1

NEWS RELEASE

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

FOR IMMEDIATE RELEASE – November 23, 2021

ExGen Announces $2,000,000 Common Share Private Placement

Vancouver, BC: ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”) is pleased to announce

that it intends to complete a non-brokered private placement offering of up to 20,000,000 common shares

in the capital of ExGen (“Offered Shares”) at a price of $0.10 per Offering Share, for gross proceeds of up

to $2,000,000 (the “Private Placement”).

ExGen intends to complete the Private Placement using available prospectus exemptions under securities

laws including the accredited investor exemption and the close friends, family and business associates

exemption. Any investors interested in participating in the Private Placement should contact ExGen

pursuant to the contact information set forth below. Closing of the Private Placement is anticipated to occur

on or around December 3rd, 2021. A finder’s fee of up to 7% of the gross proceeds of the Private Placement

may be paid in cash or ExGen common shares on all or any portion of the Private Placement. The net

proceeds from the Private Placement will be used for potential exploration and development on ExGen’s

properties including the Empire Mine Project, potential future acquisitions and general working capital.

It is not anticipated that any new insiders will be created, nor that any change of control will occur, as a

result of the Private Placement. Any participation by insiders of ExGen in the Private Placement will be on

the same terms as arm’s length investors. There is no minimum aggregate subscription amount for the

Private Placement, but completion of the Private Placement is subject to all regulatory approvals, including

the TSXV acceptance. Depending on market conditions, the gross proceeds of the Private Placement could

be increased or decreased. All securities issued in connection with the Private Placement will be subject to

a hold period of four months and one day from the date of closing. For further details on the Private

Placement, please contact ExGen at the contact information set forth below.

About ExGen Resources Inc.

ExGen, formerly Boxxer Gold Corp, is a project accelerator that seeks to fund exploration and development

of our projects through joint ventures and partnership agreements. This approach significantly reduces the

technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and

potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and

various commodity groups. ExGen currently has 5 projects in Canada and the US.

For more information on ExGen please contact ExGen Resources Inc.:

CAN: 28191864.1

Jason Tong

Chief Financial Officer

Email: [email protected]

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.

This news release contains certain forward-looking information. All statements included herein, other than statements of

historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular,

this news release contains forward-looking information in relation to: the Private Placement, including, the magnitude of the

Private Placement, the potential closing date of the Private Placement, the potential use of proceeds of the Private Placement,

including potential exploration and development of ExGen’s properties and potential future acquisitions, the potential

exemptions used for the Private Placement and any potential finder’s fee paid on the Private Placement; and ExGen’s business

model, goals and approach as a project accelerator, including ExGen’s intention to fund projects through joint ventures and

partnerships, and its intention to diversify its portfolios of projects across exploration stages and commodity groups. There

can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially

from those anticipated in such information. This forward-looking information reflects ExGen's current beliefs and is based on

information currently available to ExGen and on assumptions ExGen believes are reasonable. These assumptions include, but

are not limited to: the current share price of ExGen's common shares; TSXV acceptance and market acceptance of the Private

Placement; ExGen’s current and initial understanding and analysis of its projects; ExGen's general and administrative costs

remaining constant; market acceptance of ExGen's business model, goals and approach; the availability of potential

acquisitions and prices acceptable to ExGen; and the feasibility and reasonableness of conducting exploration on and

developing any of ExGen’s projects. Forward-looking information is subject to known and unknown risks, uncertainties and

other factors which may cause the actual results, level of activity, performance or achievements of ExGen to be materially

different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but

are not limited to: there is no certainty that the ongoing work programs will result in significant or successful exploration and

development of the Empire Mine Project, or other projects, or development of the Empire Mine Project into a producing mine;

uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability

and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental

approvals; ExGen may not be able to comply with its ongoing obligations regarding its properties including the Empire Mine

Project; the early stage development of ExGen and its projects; general business, economic, competitive, political and social

uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration

company securities; commodity prices, in particular copper, gold, silver and zinc prices; the actual results of current

exploration and development or operational activities; competition; changes in project parameters as plans continue to be

refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or

regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting ExGen;

conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of

additional risk factors which may cause actual results to differ materially from forward-looking information can be found in

ExGen's disclosure documents on the SEDAR website at www.sedar.com. Although ExGen has attempted to identify

important factors that could cause actual results to differ materially from those contained in forward-looking information,

there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not

place undue reliance on forward-looking information. ExGen does not undertake to update any forward-looking information

except in accordance with applicable securities laws.