Tickers: PINX:SLMLD, XTSE:APX
Tags: Mining
October 4, 2018 / TheNewswire / Vancouver, BC - Apex Resources Inc. ("Apex" or the "Company") (TSXV: APX) reports that the Jersey-Emerald lead-zinc-tungsten and gold property has reverted to Apex. Margaux Resources Ltd. ("Margaux") has given official notice to Apex that they are terminating the November 13, 2013 Option Agreement to purchase the Jersey Emerald property. Margaux has agreed to forthwith transfer to Apex, the Property and all of the information and data relating to the Property.
Since entering into the Option Agreement, Margaux has advanced the Jersey-Emerald property with approximately $3.0 million in exploration expenditures. Margaux has successfully expanded the tungsten resource and mapped out additional lead-zinc targets in the Jersey and Wilson Creek areas. Additionally Margaux has defined an untested gold target in the Summit area along the property's eastern border.
While working the Jersey-Emerald property, Margaux assembled a sizeable land package in the surrounding area by staking adjacent land and optioning nearby historic mining properties. Because of an area of interest clause in the Option Agreement, certain other properties acquired by Margaux since 2013 have also reverted to Apex.
Apex is presently exploring its Yukon, Mt. Anderson gold property but remains committed to advancing the exploration and development of the Jersey-Emerald property. Apex geologists will be meeting with Margaux's geologists to arrange for the transfer of the property and property information to Apex. For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
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.
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