Rex Resources Corp. entered into an agreement to acquire 1414447 B.C. Ltd from Broadstone Resources Inc. for approximately CAD 0.23 million on May 18, 2023. Rex Resources Corp. will acquire 100% of the issued and outstanding securities of BCCO from Broadstone in consideration for the issuance of 1,000,000 common shares of Rex Resources Corp at a deemed price per share equal CAD 0.04875 per Payment Share and will pay to Broadstone the sum of CAD 175,000 in cash, of which CAD 60,000 shall be payable on the Closing Date and CAD 115,000 shall be payable on or before the earlier of the date that is six months following the Closing Date and three business days following the date on which the Company completes an equity financing for gross proceeds of at least CAD 400,000. Immediately following the closing of the Proposed Transaction, the Payment Shares are expected to represent approximately 6.91% of the outstanding common shares of Rex Resources Corp. BCCO holds a 100% interest in eight contiguous mineral claims totalling approximately 1,562 hectares located near Port Alberni, British Columbia, generally known as the “Rex Property”. The transaction is subject to regulatory approval. The Proposed Transaction is anticipated to close in the coming weeks.

Rex Resources Corp. completed the acquisition of 1414447 B.C. Ltd from Broadstone Resources Inc. on June 19, 2023.