Apex Resources Inc. Acquires Historic Showings and Expands its Golden Triangle Land Position
May 31, 2017
Vancouver, BC - May 31, 2017: Apex Resources Inc. (TSX-V: APX; "the Company, "Apex") announces it has acquired an additional 160.4 hectare mineral tenure on its Wild Property, located in British Columbia's Golden Triangle area approximately 95 km north of the community of Stewart, BC. This brings the Wild Property to a total of 4,886.85 hectares.
The newly acquired mineral tenure overlies two historic precious metal showings. At the "A Zone", located near the north end of the tenure, a 0.5 metre wide quartz vein is reported to assay 367.5 g/t silver and 1.55 g/t gold (BC Assessment Report 11,342 - Energex Minerals Ltd. 1983). At the "B Zone", located one kilometre south of the A Zone, a 0.35 metre wide quartz vein assayed 72.3 g/t silver and 4.05 g/t gold (BC Assessment Report 9,190 - Dupont Canada Ltd. 1980). The two historic showings are situated along an apparent northwest trending structure that can be traced for 8.0 kilometres across the Wild Property. Several occurrences of mineralized boulders with precious metal values have been encountered on the property suggesting the two showings may belong to a much larger mineralized system.
The Wild property is located south of two past producing high grade gold mines. The Snip Mine with historic production of 32.1 million grams of gold and 12.2 million grams of silver is located 10 kilometres north of Wild, and the Johnny Mountain mine with historic production of 2.8 million grams of gold and, 4.3 million grams of silver is 4.5 kilometres to the north.
The Wild Property is one of three properties owned by Apex in the Golden Triangle area. Together with the Cloud and Eldorado Properties Apex now holds 10,000 hectares of mineral tenures in this metal rich area (see News Release dated August 24, 2016).
In order to help define the targets for ground follow-up in 2017, Apex has recently completed airborne magnetic and VTEM geophysical surveys on the Cloud and Eldorado properties. Results of the surveys are expected by early June.
Ms. Linda Dandy, P.Geo., Director, is Apex's "Qualified Person" for the purpose of NI 43-101 and has reviewed and approved the contents of this news release. Ms. Dandy has considerable experience in the Golden Triangle area and will supervise the 2017 work program.
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.