Vancouver, BC – TheNewswire – November 2, 2020 – Apex Resources Inc. (TSXV:APX) ("Apex" or the "Company") is pleased to announce that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it has closed a non-brokered private placement (the "Private Placement") issuing a total of 620,000 units (the "Units") at $0.10 per Unit, and 690,000 Flow Through Units (the "FT Units") at $0.10 per FT Unit for total gross proceeds of $131,000.

Each Unit is comprised of one (1) common share (the "Shares") in the capital of the Company and one (1) non-transferable share purchase warrant (the "Warrants"). Each FT Unit is comprised of one (1) common share in the capital of the Company and one half (1/2) of a non-transferable share purchase warrant.

Each full warrant attached to the Units is exercisable into one Share of the Company for a period of 12 months from the date of issue at an exercise price of $0.16 per Share. The Warrants are subject to an acceleration clause whereby if the volume-weighted average closing price of the Shares on the Exchange is $0.30 or more for 21 consecutive trading days at any time subsequent to the expiry of six months from the date of issuance of the Warrants, then the Company will earn the right by providing notice (the "Acceleration Notice") to the warrant holders, to accelerate the expiry date of the Warrants to that date which is 30 days from the date of the Acceleration Notice.

The Company paid finders’ fees of $8,000 and 52,000 finders’ warrants (the "Finder’s Warrants") to 6132987 Canada Inc., Canaccord Genuity Corp., Haywood Securities Inc. and PI Financial Corp. The Finder’s Warrants are exercisable under the same terms as the Private Placement Warrants.

All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada. Net proceeds from the Private Placement will be used for property mineral exploration and for general working capital.

About Apex Resources Inc.

Apex is a Canadian gold exploration and development company focused on British Columbia and the Yukon Territory. Apex has a portfolio of quality properties including:

  1. 1. The Mount Anderson gold-silver property in the Yukon.

  2. 2. The Kena-Daylight gold property in southern BC under option to Boundary Gold and Copper Mining Ltd.

  3. 3. The Jersey-Emerald tungsten-zinc property in southern BC.

  4. 4. The Ore Hill gold property in southern BC.

Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under development by Monument Mining Ltd.

2020 Exploration Program

Apex has recently completed 1600 metres of NQ diamond drilling in 10 holes on its Ore Hill Gold Property in Southeastern British Columbia designed to test a 1,500 metre-long, gold soil anomaly. The core is currently being processed and shipped to ALS Global Geochemistry Analytical Lab and assay results are pending. (Please see October 13, 2020 News Release)

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: [email protected] or [email protected]

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.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

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