Mr. Anthony Zelen reports

REX RESOURCES ANNOUNCES DIRECTOR CHANGES AND INVESTOR RELATIONS ENGAGEMENT

Rex Resources Corp. has appointed Michael Leahy as a director of the company.

With over 12 years of entrepreneurial experience, Mr. Leahy is a seasoned business professional with expertise in business development, corporate development and operations. He previously held the positions of vice-president of business development and later chief operating officer at a private technology company renowned for its proprietary satellite radar technology utilized in mineral exploration, subsurface 3-D modelling and infrastructure monitoring. Additionally, Mr. Leahy served as the executive chair of a private technology company's U.S. subsidiary. His involvement extends across diverse sectors, including natural resources, technology and tourism resort development, showcasing his versatile background in both public and private companies.

Mr. Leahy currently serves as the chief executive officer and a director of Goat Industries Ltd., as well as a director of Panther Minerals Inc.

In addition to his role as a director of Rex Resources, Mr. Leahy will serve as a member of the company's audit committee.

Mr. Leahy replaces Isidro Flores Vasquez, who has stepped down as a director to pursue other opportunities. The company would like to thank Mr. Flores Vasquez for his contributions and wish him well in his future endeavours.

Separately, Rex Resources announces that the company has entered into an investor relations consulting agreement dated July 2, 2024, with Earl Hope of Coquitlam, B.C., pursuant to which the consultant has agreed to provide the services customarily rendered by investor relations consultants in the capital market and public relations industry to the company for a term of one year in exchange for a monthly fee of $3,000 plus GST. The consulting agreement is subject to extension by mutual agreement of the parties.

Rex Resources engaged the consultant to heighten market awareness of the company, broaden the company's reach within the investment community, and create and develop interest regarding the benefits of owning the company's stock.

The consultant is at arm's length to the company, and does not have any interest, directly or indirectly, in Rex Resources or its securities, or any right to acquire such an interest, except as otherwise stated in this news release. The consulting agreement is subject to the approval of the TSX Venture Exchange.

In connection with the foregoing events, the company granted an aggregate of 400,000 stock options to Mr. Leahy (as to 200,000) and the consultant (as to 200,000). Each option is exercisable into one common share of the company at a price of eight cents per share for a period of five years, and is subject to the terms and conditions of the company's 10-per-cent rolling share option plan. Mr. Leahy's options vested immediately while the consultant's options will vest in 25-per-cent increments each quarter over a 12-month period in accordance with the policies of the exchange.

Finally, Rex Resources is pleased to announce that the previously disclosed mineral property option agreement between the company and two private arm's-length B.C. corporations dated May 20, 2024, has been accepted for filing by the exchange. Pursuant to the option agreement, Rex Resources acquired the exclusive right and option to purchase a 100-per-cent undivided interest in and to eight mineral claims over approximately 275 hectares located near Port Alberni, B.C., and generally known as the Mactush property. For further information regarding the option agreement and the terms of the option, please refer to the company's news release dated May 24, 2024.

About Rex Resources Corp.

Rex Resources is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. Rex Resources owns an undivided 100-per-cent interest in eight contiguous mineral claims located near Port Alberni, B.C., generally known as the Rex property, and has the option to acquire an undivided 100-per-cent interest in an additional eight mineral claims in close proximity thereto known as the Mactush property.

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