MINREX RESOURCES LIMITED — AGM Information 2016

Nov 20, 2016

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MinRex Resources Limited

5[TH] ANNUAL GENERAL MEETING MONDAY, 21 NOVEMBER 2016

CHAIRMAN’S ADDRESS

Welcome to the 5[th] Annual General Meeting of MinRex Resources Limited (‘Company’) for the year ended 30 June 2016.

During the first half of the 2016 financial year, your Company was focused on the RTO of Hello Real Estate Limited (‘Hello’), which was first announced to the market on 8 July 2015. At the 2015 Annual General Meeting, held on 23 November 2015, shareholders overwhelmingly supported the RTO related resolutions, subject to the RTO successfully completing early in the calendar year 2016.

On the day of the Company’s 2015 Annual General Meeting, the Australian Securities Exchange (‘ASX’) as per normal practice, automatically suspended the Company’s shares from trading, pending the completion of the RTO of Hello. As the 2015 calendar year was rapidly coming to a close, it became apparent that the capital required to facilitate the RTO, amongst other matters, could not be raised prior to the Christmas / New Year break.

The commencement of the 2016 calendar year was marked by a poor start for equity markets, and your Company and Hello mutually agreed to the termination of the RTO, after concluding that it would very difficult to raise the required capital in the timely manner required.

Following the termination of the RTO of Hello, your Company turned its focus back on to its two tenements and set about drawing up a renewed work program. Both tenements had been held in good standing whilst your Company had pursued the now terminated RTO.

The first order of priority, was to seek the re-quotation of the Company’s shares on the ASX, following the previous suspension of the Company’s shares from trading on the ASX. Armed with the Company’s renewed work program for its two existing tenements, the Company made a submission to the ASX to lift the suspension from trading.

On 1 February 2016, the Company’s shares were reinstated to official quotation on the ASX.

MinRex Resources Limited ACN 151 185 867 LinQ House Level 1, 17 Ord Street West Perth WA 6005 P: +61 8 9486 8806 F: +61 9321 3559

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In early April 2016, two of the Company’s Directors, Mr Emmanuel Heyndrickx and Mr Abraham Schildkraut resigned from the Board of the Company and were replaced by Mr David Hannon. The Company would like to take this opportunity to record its thanks and gratitude to the Directors who resigned from the Board and welcome Mr Hannon to the Board.

At the same time, work teams were mobilised to both tenements under the careful supervision of the Company’s Consultant Geologist, Mr Kieron Munro. Work will be ongoing in both tenements.

Towards the end of the financial year, the Company took the opportunity to replenish its capital base, through both a private placement and rights issue entitlement offer. Both capital raisings were priced at $0.06 a share and together raised an additional $1.116 million in capital.

Your Company continues to be on the lookout for other corporate opportunities to complement its existing activities. However, recent changes in some key ASX Listing Rules has made this process more vexed, even though there has been some easing of these changes.

On behalf of your Board, thank you again for your ongoing support of the Company.

For further enquiries, please contact:

Simon Durack Executive Director

Ph. 08 9486 8806

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