Apex Resources and Prize Mining Corp. Amend Option Agreement on the Kena Gold Project in Southeastern B.C.
June 28, 2019
Vancouver, BC - June 28, 2019: Apex Resources Inc. (TSX-V: APX) ("Apex") announces that it has entered into an agreement (the "Amending Agreement") with Prize Mining Corp. (TSX-V: PRZ) to amend the option agreement dated September 23, 2016, (the "Option Agreement"), granting Prize Mining Corp. and option to acquire 80% of the Kena Gold Property in southeastern B.C.
Pursuant to the Amending Agreement, Prize Mining Corp. will make the final $250,000 cash payment due October 3, 2019 by September 3, 2019 and a 375,000 share payment due October 3, 2019 will be made prior to July 31, 2019. Property exploration expenditures of $1,000,000 due October 3, 2019 will be extended to October 3, 2021 and exploration expenditures of $1,500,000 due October 3, 2020 will be extended to October 3, 2022. All other terms of the Option Agreement remain unchanged.
About Apex Resources Inc.
Apex is a Canadian gold exploration and development company focused on British Columbia and the Yukon Territories. Apex has a portfolio of quality properties including:
- The 1.9 million ounce Kena-Daylight gold property in southern BC under option to Prize Mining Corp (1994854 Alberta Ltd.).
- The historic Jersey-Emerald tungsten-zinc mine in southern BC.
- The historic Ore Hill gold-silver property in southern BC.
- The Mount Anderson gold-silver property in the Yukon.
- The Red Ridge gold-silver property in the Yukon.
- The Cloud, Eldorado and Wild properties in BC's Golden Triangle.
Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario. For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.