(TheNewswire)
November 30, 2021 – TheNewswire- Vancouver, BC. - Apex Resources Inc.( " Apex” or "theCompany") (TSXV:APX) (OTC:SLMLF) announces that the Cease Trade Order imposed by theBritish Columbia Securities Commission (BCSC) on November 19, 2020 hasbeen revoked and its common shares resumed trading on the TSX VentureExchange (TSXV) on November 25, 2021.
The Cease Trade Order issued by the BCSC was lifted oncompletion of a revocation process with the BCSC following the filingof an updated Tungsten Resource Estimate on Apex’s Jersey EmeraldProject in B.C. as per its September 14, 2021 news release.
The updated Resource Estimate confirms a significanttungsten (WO3) resource on the property with associated gold andmolybdenum. There is an Indicated Resource of 1,472,803 tonnes at agrade of 0.173% WO3, 0.050g/t Au and 0.021% Mo and an additionalInferred Resource of 5,128,045 tonnes at a grade of 0.227% WO3,0.081g/t Au and 0.026% Mo (September 14, 2021 news release). Apex willbe filing for multi year permits for follow-up drilling atJersey.
The Jersey-Emerald tungsten-zinc property is host toBritish Columbia's second largest historic zinc mine and Canada'ssecond largest historic tungsten mine. Operations by PlacerDevelopment Ltd., the previous operator from 1947 to 1973 saw7,968,080 tons of lead-zinc ore grading 1.95% Pb and 3.83% Zn, minedand milled and 1,597,802 tons of tungsten ore grading 0.76% WO3 minedand milled. The project has excellent infrastructure including power,water, extensive underground development and an educated nearby workforce.
About Tungsten:
Tungsten is an extremely hard anddurable metal with the highest melting point of all elements. Because of these qualities there are no substitutes and tungsten isvital to a broad range of commercial and military applications. Thereare currently no North American mines producing tungsten and the westdepends on recycling and imports to meet its tungsten needs. Becauseof possible supply disruptions tungsten is on the Critical MineralsLists for both Canada and the USA.
Warrant Extension:
Apex is pleased to announce that the Company hasreceived approval from the TSX on the extension of 5,769,231 warrantsexercisable at $0.14 per share which expired on July 24, 2021, nowextended until July 24, 2022. The warrants were issued pursuant to a private placementof 5,769,231 shares with 5,769,231 share purchase warrants attachedexercisable at $0.14 per share, which was accepted for filing by theExchange, effective July 28, 2020.
About Apex Resources Inc.
Apex is a Canadian mining exploration and developmentcompany focused on British Columbia and the Yukon Territories. Apex ispresently focused on the advancement of its Jersey-Emeraldtungsten-zinc property and its Ore Hill gold property in southernBC.
In February final assay results for the 2020 diamonddrill program at Apex’s Ore Hill property returned 47 significantgold intersections from 12 holes. Highlights included 11.02 g /t Auover 1.06 metres, 7.10 g/t Au over 1.11 metres, 5.27 g/t Au over 1.59metres and 289.97 g/t Au over 0.30 metres (Feb 17, 2021 news release).The Ore Hill gold property includes the historic Ore Hill and Summitgold mines located in the Sheep Creek Gold camp.
Apex management has a track record of mine discoverythat includes the discovery and development of the renowned Hemlo GoldMine in Ontario and the Mengapur copper-gold-molybdenum porphyrydeposit (225Mt @ 0.59% Cu equivalent) in Malaysia now underdevelopment by Monument Mining Ltd.
For further information on the Company's projects,visit www.apxresources.com .
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 marketprices, exploitation and exploration successes, and continuedavailability of capital and financing, and general economic, market orbusiness conditions. Investors are cautioned that any such statementsare not guarantees of future performance and those actual results ordevelopments may differ materially from those projected in theforward-looking statements. For more information on Apex, investorsshould review Apex's filings that are available at www.sedar.com orApex's website at www.apxresources.com .
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