MINREX RESOURCES LIMITED — Capital/Financing Update 2017

Oct 25, 2017

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ASX AND MEDIA ANNOUNCEMENT

26 October 2017

MINREX ANNOUNCES INCREASED EXPLORATION BUDGET

MinRex Resources Limited ( MinRex or the Company ) (ASX: MRR) is pleased to announce that following its recent capital raising, planning has commenced to step-up its exploration program, with a particular focus on its Deflector Extended Gold Project in the Murchison Goldfield of Western Australia.

Significantly, MinRex’s Deflector Extended Gold Project is along strike from the Doray Minerals Limited Deflector Mine, where underground mining and accompanying ore processing of copper-gold mineralisation commenced in May 2016.

An initial exploration budget of up to $0.6M has been approved for exploration at the Deflector Extended Gold Project. This budget will be used to complete heritage studies and carry out a first pass aircore drilling programme to test a series of targets within the project area. Any significant anomalies detected in the aircore drilling will then be followed up with RC drilling.

For all enquiries, please contact:

Simon Durack Executive Chairman MinRex Resources Limited

P: +61 (0) 8 9486 8806

E: simondurack@minrex.com.au

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