Mr. Pierre Gagne reports

ROCKEX MINING ANNOUNCES SIGNING OF OPTION AGREEMENT ON ITS ROOT LAKE LITHIUM PROJECT

Rockex Mining Corp. has signed an option and joint venture agreement with Root Lake Resources Ltd. and its parent, Pioneer Lithium Ltd., affiliates of Fifty St. George Pty. Ltd., granting Root Lake an option to acquire a 90-per-cent interest in the Root Lake mineral exploration claims in Northwestern Ontario on or before Aug. 23, 2023.

The Root Lake property is comprised of 94 contiguous cell claims (1,927 hectares) approximately 100 kilometers north of Sioux Lookout near the west end of Lake St. Joseph, a prospective lithium project (the "Project").

The terms of the Option and JV Agreement provide for Rockex receiving the following consideration on exercise of the option: (i) a cash payment of CDN$550,000, (ii) shares of Pioneer having an aggregate value of CDN$575,000 and (iii) a 2% net smelter royalty. The option is conditional on (i) the Australian Securities Exchange (the "ASX") granting conditional approval for the admission of Pioneer to the official list of the ASX on terms acceptable to Pioneer and (ii) Rockex signing an agreement in respect of the Consideration Shares in the form required by the ASX. The option must be exercised within 10 business days after satisfaction of the last of the conditions and, in any event, on or before August 23, 2023, failing which the option will expire. On exercise of the option, Rockex and Root Lake will be deemed to constitute a joint venture on the terms set out in the Option and JV Agreement. Rockex will retain a 10% carried interest in the Root Lake property until a final investment decision is made to proceed with the construction of a mine in respect of the Project based on a feasibility study.

About Rockex

Rockex is a Canadian exploration company focused on developing high quality iron ore assets strategically located in areas largely under-explored, 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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