Apex Resources Inc. Provides Update Regarding Cease Trade Order
February 9, 2021
February 9, 2021, Vancouver, BC., Apex Resources Inc. ("Apex") (TSXV: APX) was issued a Cease Trade Order (the "Cease Trade Order") by the British Columbia Securities Commission (the "Commission") on November 19, 2020, related to NI43-101 deficiencies previously announced in the Company's news release dated November 20, 2020.
In order to lift the Cease Trade Order Apex engaged Moose Mountain Technical Services ("MMTS") of Cranbrook, B.C. for the preparation of updated resource estimates for the East Emerald Tungsten Deposit on its Jersey-Emerald Property and the Kena and Gold Mountain zones on its Kena-Daylight Gold property. Both properties are located in southeastern British Columbia.
The MMTS program commenced on December 14, 2020. The program has involved compiling all historic property work including surface and drill core assays, completing site visits, drill core inspections and confirmation core sampling by MMTS.
MMTS has informed Apex that in light of deep snow conditions on the property, they have been unable to complete a full property inspection. The only course of action is to wait until the snow melts and publish the reports after a full site visit is possible. MMTS and Apex have discussed the situation with the Commission and have been informed that the cease trading will remain but can be rectified once the reports are filed. Because of this delay Apex will have to file a Revocation Application following acceptance of the resource estimates.
The Company will provide updates as and when warranted.
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.