(TheNewswire)
Vancouver, BC. - TheNewswire -February 9, 2021 - Apex Resources Inc.(“Apex”) (TSXV:APX) was issued a Cease Trade Order (the “CeaseTrade Order”) by the British Columbia Securities Commission (the“Commission”) on November 19, 2020, related to NI43-101deficiencies previously announced in the Company’s news releasedated November 20, 2020.
In order to lift the CeaseTrade Order Apex engaged Moose Mountain Technical Services(“MMTS”) of Cranbrook, B.C. for the preparation of updatedresource estimates for the East Emerald Tungsten Deposit on itsJersey-Emerald Property and the Kena and Gold Mountain zones on itsKena-Daylight Gold property. Both properties are located insoutheastern British Columbia.
The MMTS program commenced on December 14, 2020. Theprogram has involved compiling all historic property work includingsurface and drill core assays, completing site visits, drill coreinspections and confirmation core sampling by MMTS.
MMTS has informed Apex that in light of deep snowconditions on the property, they have been unable to complete a fullproperty inspection. The only course of action is to wait until thesnow melts and publish the reports after a full site visit ispossible. MMTS and Apex have discussed the situation with theCommission and have been informed that the cease trading will remain but can berectified once the reports are filed. Because of this delay Apex willhave to file a Revocation Application following acceptance of theresource estimates.
The Company will provide updates as and whenwarranted.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
This release was prepared by Apex'smanagement. Neither TSX Venture Exchange nor its Regulation ServicesProvider (as the term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease. This news release includes certain statements that may bedeemed "forward-looking statements." All statements in thisrelease, other than statements of historical facts, that addressfuture production, reserve potential, exploration drilling,exploitation activities and events or developments that Apex expectsare forward-looking statements. Although Apex believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could causeactual results to differ materially from those in forward-lookingstatements include market prices, exploitation and explorationsuccesses, and continued availability of capital and financing, andgeneral economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance and those actual results or developments may differmaterially from those projected in the forward-looking statements. Formore information on Apex, investors should review Apex's filings thatare available at www.sedar.com or Apex's website at www.apxresources.com .
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