Mr. Charles Ross reports

GOLDEX SILIMANITA OPTION UPDATE

Goldex Resources Corp. has provided an update to the previously announced (see news release dated April 14, 2023) option agreement entered into on Aug. 30, 2022, with an arm's-length private company (Femart S.A.) (optionee) to earn up to a 70-per-cent interest in its Silimanita property in Guatemala. Under the terms of the option agreement, the optionee must pay $50,000 on signing (paid), $50,000 within 12 months of signing (paid), $50,000 within 24 months of signing and $150,000 within 36 months of signing the agreement. The optionee is to incur $60,000 in expenditures on the property on or before 12 months of signing the agreement (incurred), a further $60,000 in expenditures before the 24-month and $1.5-million on or before the 36-month of signing the agreement. The optionee may make cash payments to the company in lieu of expenditures on the property.

In the event that the optionee exercises the option and acquires a 70-per-cent right, title and interest in and to the property, Goldex shall thereafter be entitled to a 2-per-cent net smelter returns royalty (NSR) with respect to the property. The optionee may make cash payments to buy back 1-per-cent NSR at any time by paying $1-million to Goldex. The transaction is subject to TSX Venture Exchange approval.