File: Attachment NR - $0.05 Unit PP - 2024.04.10.pdf

Not for distribution to United States newswire services or for dissemination in the United States

REX RESOURCES CORP. Suite 1570, 505 Burrard Street

Vancouver, BC, V7X 1M5

April 10, 2024 TSX-V: OWN

Rex Resources Announces Private Placement

Vancouver, B.C. Rex Resources Corp. (TSX-V: OWN) ("Rex" or the "Company"), a mineral exploration company listed on the TSX Venture Exchange (the "Exchange"), announces that the Company intends to complete a non-brokered private placement (the "Private Placement") of up to 5,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $250,000. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one-half of one (1/2) common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of $0.075 per Share for a period of 24 months from the closing date of the Private Placement.

The Private Placement is subject to Exchange approval and all securities issued will be subject to a standard holder period of four months and one day. Finder's fees may be payable in connection with the Private Placement, all in accordance with the policies of the Exchange and applicable securities laws.

The Company expects to use the net proceeds from the Private Placement for general working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referenced herein 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, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Anthony Zelen, Director (778) 338-5258 anthonyzelen88@gmail.com

Neither 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 release.

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward- - 2 -

looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking information in this news release may include, without limitation, statements relating to the Private Placement and the use of proceeds therefrom, the potential of the Rex Property, regulatory approvals, and future news releases and disclosure.

These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of Rex, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Rex may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Rex believes that the expectations reflected in forward looking statements are reasonable, the Company can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rex disclaims any intention and assume no obligation to update or revise any forward- looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.