Mr. Arthur Troup reports

APEX RESOURCES INC. COMMENCES EXPLORATION PROGRAMS AT ITS RED RIDGE, YT AND THREE BC GOLDEN TRIANGLE PROPERTIES

Apex Resources Inc. has commenced preliminary exploration programs on four newly acquired properties (see news releases dated Aug. 24, 2016, and Sept. 9, 2016). A team of geologists and prospectors is doing an initial examination of the properties with the goal to define areas for detailed exploration programs.

The Red Ridge property, near Carcross, Yukon, consists of 30 quartz claim units covering 530 hectares. The property contains a prominent gossanous ridge (Western zone) and an area measuring two kilometres in length and 500 metres in width where numerous mineralized showings have been discovered. Historic reports (Yukon assessment reports 094931 and 092736) state:

• The East zone consists of three subparallel altered zones. Within one zone, a 10-centimetre-to-40-centimetre-wide quartz/barite vein containing massive tetrahedrite, azurite and malachite assayed up to 25,191 grams per tonne silver. Grab samples containing galena, assayed 5,598 grams per tonne silver, 0.53 gram per tonne gold and 57.5 per cent lead.
• The Don zone consists of a one-metre-wide zone of sheared and altered granodiorite. Sampling returned 10.8 grams per tonne gold and 1,519 grams per tonne silver across 0.5 metre.
• The Saddle zone consists of several small outcrops and boulders of silicified granodiorite and quartz-galena found over a 20-metre-by-50-metre area. Two grab samples from this zone assayed 11.35 grams per tonne gold and 300.1 grams per tonne silver and 34.8 grams per tonne gold and 342.1 grams per tonne silver. Trenching and exploratory drilling show that the Saddle zone consists of limonite-manganese-clay gouge within a 30-metre-wide zone of alteration and shearing. The sulphide-bearing quartz veins are surrounded by a quartz stockwork zone up to 1.5 metres in width. The quartz veins returned an average of 6.1 grams per tonne gold and 423 grams per tonne silver over 0.5 metre. Drilling of this zone returned assay values up to 28.9 grams per tonne gold and 31.51 grams per tonne silver over 0.4 metre. Precious metal values are not limited to samples with sulphides, indicating the presence of free gold or electrum.
• The Miller zone consists of a two-metre-to-three-metre-wide zone of shearing and alteration that contains galena/quartz pods throughout. In addition, 10-centimetre-to-30-centimetre-wide quartz veins containing galena and pyrite occur in both the footwall and hangingwall of the zone. Grab samples of quartz galena assayed up to 883.24 grams per tonne silver with negligible gold. The Miller zone was intersected by eight diamond drill holes, with the best intersection being 3.11 grams per tonne gold and 309.1 grams per tonne silver over 0.76 metre.

The current exploration program at Red Ridge is aimed at confirming historic sample results and evaluating the extent of the mineralization on the East, Don, Saddle, Miller and Vance showings.

In British Columbia's Golden Triangle area, north of Stewart, B.C., the company is exploring its three properties, the eastern Eldorado property, the central Cloud property and the western Wild property. The Eldorado property consists of two mineral tenures totalling 1,617.5 hectares; the Cloud property consists of two mineral tenures totalling 1,518 hectares; and the Wild property consists of six mineral tenures totalling 4,726.4 hectares. British Columbia's Golden Triangle is host to several high-grade past-producing mines, including the Premier, Eskay Creek and Snip deposits. Several large new deposits are approaching potential development, including Seabridge Gold Inc.'s KSM project and the Valley of the Kings deposit of Pretium Resources Inc.

The Eldorado property is located eight kilometres northwest of the historic, 15.5-million-tonne Granduc copper, gold and silver mine. As well, historic work on the nearby Tennyson and Tennyson porphyry projects has returned significant results. On the Tennyson project, a 1986 diamond drill hole returned 40.8 grams per tonne gold and 282 grams per tonne silver over 2.14 metres (J.M. Logan, 1986 EMPR assessment report No. 15789). On the Tennyson porphyry, a 1988 drill hole returned 13.92 grams per tonne gold over 3.1 metres and, in 2011, a 16-hole diamond drill program returned broad zones of copper-gold mineralization in all holes ranging from 0.21 per cent to 0.44 per cent copper and 0.12 gram per tonne to 0.32 gram per tonne gold (EMPR assessment report No. 33028). Geology and mineralization on Apex's Eldorado property appear similar to that of the Tennyson project.

The Cloud property is located six kilometres south of the Doc property which has a historic (1987) resource of 426,337 tonnes grading 44.9 grams per tonne silver and 9.2 grams per tonne gold in quartz veins (Minfile 104B 014 and EMPR assessment report 26256). This resource figure is historic in nature and does not comply with current National Instrument 43-101 requirements.

The Wild property is located six kilometres west of the Bronson Creek airstrip and the Snip gold mine with historic production of 32,093,000 grams of gold and 12,183,000 grams of silver.

The Wild property is largely underlain by granodioritic intrusive rocks which on adjacent properties host sulphide-bearing quartz veins with grab sample assays up to 73.2 grams per tonne silver and 4.1 grams per tonne gold (Minfile 104B 307 and EMRP assessment report No. 9190). In 1983, a 0.5-metre-wide quartz-carbonate vein containing pyrite, galena, chalcopyrite, sphalerite, argentite and tetrahedrite assayed 1.58 grams per tonne gold, 367.54 grams per tonne silver, 0.18 per cent copper, 8.70 per cent lead and 0.04 per cent zinc (Minfile 104B 308 and assessment report No. 11342). The Wild claims also adjoin both the KSP property of Colorado Resources Ltd. and the optioned Snipgold property, where drilling has recently intersected 25.7 metres of 9.24 grams per tonne gold (see Colorado Resources' news release dated Aug. 8, 2016).

An initial pass has determined that all three Golden Triangle properties have strong colour anomalies (gossanous zones), and the team is currently mapping and sampling these areas.

The exploration program is under the supervision of Linda Dandy, PGeo, director. Ms. Dandy has considerable experience in the Golden Triangle area and is Apex's project supervisor and qualified person for the purpose of NI 43-101 who has reviewed and approved the contents of this news release.

We seek Safe Harbor.