MINREX RESOURCES LIMITED — M&A Activity 2014

Jul 20, 2014

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ASX AND MEDIA ANNOUNCEMENT

21 July 2014

Formal share purchase agreement signed with the majority Skin shareholders

Minrex Resources Limited ( Minrex ) (ASX:MRR) is pleased to announce that it has entered into a formal share purchase agreement with the directors of Skin Elements Pty Ltd ( Skin ), who together hold a majority of Skin’s issued shares.

Minrex is in the process of entering into formal agreements with the minority shareholders in Skin. A further announcement will be issued when complete, including an updated indicative timetable.

The transaction is conditional on the minority shareholders signing share purchase agreements by 28 July 2014 or earlier and as previously announced, remains conditional upon, amongst other things, approval by Minrex shareholders, Minrex raising a minimum of $1.5 million in fresh funds and recomplying with Chapters 1 and 2 of the ASX Listing Rules.

The $8.4M in consideration for 100% of Skin, will be reflected in the balance sheet of Minrex, subject to audit. The likely effect on total equity interests is set out in the announcement dated 9 April 2014. Minrex is not able to estimate the impact of the transaction on its revenues/profitability at this time on the basis that Skin is progressing towards commercialisation of its natural and organics skin care ranges. Skin is well positioned with key regulatory approvals in place with further approvals planned.

The Board of Minrex is excited by the opportunity presented by the acquisition of Skin with its innovative biotechnology business.

Skin has developed and commenced sales of its all natural sunscreen Soléo Organics range and will be following with a range of all natural skin care products under the Elizabeth Jane Natural cosmetics brand.

For all enquiries, please contact:

Simon Durack Peter Malone Executive Director CEO Minrex Resources NL Skin Elements Pty Ltd

Ph: (08) 9486 8806 Ph: (08) 9486 4792

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