Mr. Michael Leahy reports

REX RESOURCES PROVIDES CORPORATE UPDATE

Rex Resources Corp. has provided the following corporate update regarding several significant developments.

The company is currently preparing permit applications for submission and will be seeking approval from the B.C. Ministry of Energy, Mines and Low Carbon Innovation to conduct preliminary exploration activities on the two properties. Rex Resources is committed to working closely with local communities, including first nations, throughout the permitting process and potential future exploration activities, and would like to emphasize its dedication to responsible development and environmental stewardship. The Rex Resources team remains focused on advancing the permit applications and ensuring a smooth path forward for project exploration.

Additionally, Rex Resources recently completed the filing on SEDAR+ of an independent technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) on the company's Rex property. The report is entitled "NI 43-101 Technical Report on the Rex Property, British Columbia, Canada," and is dated effective June 17, 2024.

As previously disclosed by the company, Rex Resources has acquired an interest in two separate properties consisting of 16 mineral claims located in the Port Alberni mining division of British Columbia. The Rex and Mactush properties have been the subject of numerous work programs and ownership dating back to 1968. The area has produced numerous high-grade samples of gold, silver and copper.

The company is currently reviewing the historic data available to rank the order of merit for a coming work program.

Finally, Rex Resources announces that the company has granted an aggregate of 600,000 stock options to one director (as to 100,000) and one consultant (as to 500,000), each of which is exercisable into one common share of the company at a price of five cents per share for a period of five years, and is subject to the terms and conditions of the company's 10-per-cent rolling share option plan. All the options vested immediately upon grant.

The geological information contained in this news release has been reviewed and approved by Alan Hitchborn, PGeo (British Columbia), who is a qualified person as defined in NI 43-101.

About Rex Resources Corp.

Rex Resources is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. Rex Resources owns an undivided 100-per-cent interest in eight contiguous mineral claims located near Port Alberni, B.C., generally known as the Rex property, and has the option to acquire an undivided 100-per-cent interest in an additional eight mineral claims in proximity thereto known as the Mactush property.

We seek Safe Harbor.