Mr. Jay Roberge reports

APEX ANNOUNCES RESUMPTION OF TRADING AND RECEIPT OF TSX VENTURE EXCHANGE CONDITIONAL APPROVAL OF LITHIUM CREEK OPTION ACQUISITION

Apex Resources Inc.'s shares will resume trading effective at market open on Thursday, May 9, 2024.

The company has received conditional acceptance from the TSX Venture Exchange of the previously announced proposed acquisition of all the shares of an arm's-length corporation (TargetCo) holding a 100-per-cent option over the consolidated mineral rights of the Lithium Creek property in Nevada, United States.

Further, the company is arranging the concurrent, part-and-parcel, non-brokered private placement, which is being conducted in conjunction with the acquisition. The company has reduced the size of the financing to nine million units to raise gross proceeds of $630,000. Each unit comprises one common share of the company and one share purchase warrant, with each warrant entitling the holder to purchase an additional Apex share for a price of 12 cents for a period of two years, subject to an acceleration provision.

The completion of the acquisition and the financing is subject to customary closing conditions to transactions of this nature and final acceptance from the TSX-V. The company anticipates the completion to occur mid-late this month. All of the 18 million Apex shares to be issued to the vendors of the TargetCo shares pursuant to the acquisition will be deposited into a Tier 2 value escrow agreement and released in accordance with the provisions thereof. All of the Apex shares issued pursuant to the financing will be subject to a four-month hold period from the closing date.

Other corporate update

At the request of the TSX-V, the company has cancelled 1.5 million stock options that were granted on Jan. 9, 2024. The company intends to regrant the options at least 10 trading days after the trading halt is lifted.

About Apex Resources Inc.

Apex is a mineral exploration company engaged in the acquisition, exploration and development of mineral resource properties.

We seek Safe Harbor.