Rex Resources Completes Rock Sampling and Reconnaissance at Macktush High-Grade Gold Property and Announces Flow-Through Financing
228 – 1122 Mainland St.
Vancouver, BC V6B 5L1
www.rexresourcescorp.com
December 11, 2024 TSX-V: O WN
Rex Resources Completes Rock Sampling and Reconnaissance
at Macktush High-Grade Gold Property and Announces Flow-Through Financing
December 11, 2024 – Vancouver, B.C. – Rex Resources Corp. (TSXV: OWN, FRANKFT: 94G) (“Rex”
or the “Company”) is pleased to announce the completion of a geological reconnaissance and surface rock
geochemical sampling campaign at the Company’s Macktush Property comprising eight (8) contiguous
mineral claims totalling approximately 275 hectares located near Port Alberni, British Columbia (the
“Property”).
During November 2024, the Company’s geological consultants, APEX Geoscience Ltd., completed a n
initial geological reconnaissance of the principal mineral occurrences on the Property, including the Fred,
David and Zinc vein areas. Historic 1987 diamond drilling of the Fred Vein yielded high grade gold
intercepts including 44.2 grams-per-tonne (g/t) gold (Au) over 3.8 metres1.
Highlights of Initial Reconnaissance:
• 22 surface rock mineralized vein and trench float samples collected for gold fire assay and multi -
element geochemical analysis;
• Fred-David-Zinc vein structure successfully traced on surface over 500 metres northeast trending
strike length and 200 metres vertically;
• Multiple disseminate pyrite-chalcopyrite mineralized banded to vuggy-comb texture multi-phase
quartz vein, and quartz stockwork occurrences exposed in excavated trenches, prospect pits, and
short adits observed consistent with that historically reported (Image 1);
• Vein zones in outcrop and mineralized float boulders suggest composite vein zones ranging from
less than 1 metres to 4 metres in true width, flanked by potassium (K) -sericite-chlorite-pyrite
alteration halos within dominantly intrusive host rocks; and
• Confirmation of reliable road access along Canal Main FSR from Port Alberni direct to Fred vein
with multiple spur roads in good condition accessing all other prospects at varied elevations
allowing for year-round exploration.
The Company expects continued news flow over the coming months as assay results are received and plans
for the combined exploration of the Macktush and Rex properties continue to take shape.
1 True width estimated to be 70-90% of drilled interval.
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Image 1: Vuggy-Comb Textured Quartz Vein Trench Float (David Vein)
Craig Taylor, President, CEO and Director of Rex, stated:
“We are excited to have completed our initial reconnaissance of the Macktush Property. Given gold recently
reached an historic all-time high of US$2,790 per ounce this past October we are evaluating the high-grade
gold veins at Macktush with particular interest. Our geologic teams have confirmed the presence of a broad
composite vein zone exposed over a considerable lateral and vertical extent, indicating the potential for a
sizeable exploration target. We look forward to reporting the results of this first round of sampling and
announcing our plans going forward soon.”
Flow-Through Financing
In addition, Rex announces that the Company intends to complete a non-brokered private placement (the
“Private Placement”) of up to 1,000,000 flow-through common shares (each, a “FT Share”) at a price of
$0.10 per FT Share for gross proceeds of up to $100 ,000. The FT Shares will qualify as “ flow-through
shares” within the meaning of subsection 66(15) of the Income Tax A ct (Canada) (the “ Tax Act”). An
amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur eligible resource
exploration expenses which will qualify as (i) “Canadian exploration expenses” (as defined in the Tax Act),
and (ii) as “flow-through mining expenditures” (as defined in subsection 127(9) of the Tax Act (collectively,
the “Qualifying Expenditures”). Qualifying Expenditures in an aggregate amount not less than the gross
proceeds raised from the issu ance of the FT Shares will be incurred (or deemed to be incurred) by the
Company on or before December 31, 2025 and will be renounced by the Company to the subscribers of the
FT Shares with an effective date no later than December 31, 2024.
The Private Placement is subject to the acceptance of the TSX Venture Exchange, and all securities issued
in connection with the Private Placement will be subject to a hold period of four months and one day in
accordance with applicable securities laws. The Company may pay f inder’s fees in connection with the
Private Placement.
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Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by
Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton,
Alberta, who is a director of the Company and a “Qualified Person” as defined in N ational Instrument 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 Macktush
Property.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Leahy, Director
(604) 681-8835
www.rexresourcescorp.com
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.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities
laws, which may include, without limitation, the potential plans for the Company’s projects, other statements relating
to the technical, financial and business prospects of the Company, its projects, its goals and other matters . All
statements in this news release, other than statements of historical facts, that address events or developments that the
Company expects to occur, are forward -looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results may differ materially from those in the forward -looking statements. Such
statements are based on numerous assumptions regarding present and future business strategies and the environment
in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that
general business and economic conditions will not change in a material adverse manner and that financing will be
available if and when needed and on reasonable terms. Such forward- looking information reflects the Company’s
views with respect to future events and is subject to risks, uncertainties and assumptions , including the risks and
uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration
and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s
profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking
statements include, but are not limited to, continued availability of capital and financing and general economic, market
or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate
conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to
operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment,
government action or delays in the receipt of government approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological
assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to
obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous
groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company’s ability to operate, capital
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market conditions, restriction on labour and international travel and supply chains, decrease in the price of gold, copper
and other metals, loss of key employees, consultants, officers or directors, failure to maintain or obtain community
acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to
perform their contractual obligations . The Company does not undertake to update forward ‐looking statements or
forward‐looking information, except as required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.