20:08:41 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Rockex Mining Corp
Symbol RXM
Shares Issued 122,568,052
Close 2023-05-18 C$ 0.025
Market Cap C$ 3,064,201
Recent Sedar Documents

Rockex, Fifty St. George extend exclusivity agreement

2023-05-29 17:16 ET - News Release

Mr. Pierre Gagne reports

ROCKEX MINING ANNOUNCES EXTENSION TO EXCLUSIVITY AGREEMENT ON ITS ROOT LAKE LITHIUM PROJECT

Rockex Mining Corp. has agreed to a three-month extension to the exclusivity agreement with Fifty St. George Pty. Ltd. (FSG) which granted FSG the exclusive opportunity to negotiate an agreement to acquire a 90-per-cent interest in the Root Lake mineral exploration claims in Northwestern Ontario. Rockex received an extension fee of $80,000.

The Root Lake property comprises 94 contiguous cell claims (1,927 hectares) approximately 100 kilometres north of Sioux Lookout near the west end of Lake St. Joseph, a prospective lithium project. On signing the exclusivity agreement, Rockex received an exclusivity fee of $125,000 for granting FSG the exclusive right for a period of six months to complete its technical and legal due diligence investigations and to finalize the binding terms and conditions of an option agreement. For the duration of the exclusivity period, Rockex has agreed to deal exclusively with FSG and to co-operate with FSG in connection with its due diligence investigations. The terms of the option agreement are contemplated to include Rockex receiving (i) a cash payment of $550,000, (ii) shares of FSG having an aggregate value of $575,000 and (iii) a 2-per-cent net smelter royalty. Rockex will retain a 10-per-cent carried interest in the Root Lake property until a final investment decision.

About Rockex Mining Corp.

Rockex is a Canadian exploration company focused on developing high-quality iron ore assets strategically located in areas largely underexplored, and that host significant mineral potential. Its core asset is the Lake St. Joseph project which includes the Eagle Island deposit, as well as additional potential deposits at Wolf Island and Fish Island. It also has other properties in Northwestern Ontario which it refers to as the East Soules Bay property, the Root Lake property and the North Spirit Lake property.

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