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Excellent Assay Results have now been received from the ten rock chip samples collected within Marble Bar project area P45/3039 in December 2017. • These samples all have anomalous gold values with a maximum value of 17.1g/t Au and an average of 2.6g/t Au, five of the samples (half) exceed 1g/t Au. • The samples ...
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ASX AND MEDIA ANNOUNCEMENT

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9 February 2018

EXCELLENT ASSAY RESULTS FROM SAMPLING OF MARBLE BAR PROJECT     

Excellent Assay Results have now been received from the ten rock chip samples collected within Marble Bar project area P45/3039 in December 2017. These samples all have anomalous gold values with a maximum value of 17.1g/t Au and an average of 2.6g/t Au, five of the samples (half) exceed 1g/t Au. The samples from P45/3039 are from old gold workings and diggings which are not recorded in the Department of Mines, Industry Regulation and Safety databases. These results confirm the prospectivity of the Marble Bar project areas, in conjunction with the six gold nuggets totaling 22.7g recovered from P45/3040 in December 2017. Additional work is recommended on the projects, following completion of the final conditions precedent to the settlement of the acquisition of the East Pilbara Tenements.

MinRex Resources Limited (ASX:MRR) (‘MinRex’ or ‘the Company’) is pleased to announce that the assay results have now been received for the ten rock chip samples collected from the Marble Bar project tenement P45/3039, during the mid-December site inspection, field trip evaluation and technical due diligence (as announced in an ASX release on 14 December 2017) of the East Pilbara projects (Figures 1 and 2 and Table 1). During this site visit all of the projects currently being acquired (ASX release 28 November 2017) were visited.

Figure 1: Location of MinRex Project Areas

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Figure 2: East Pilbara Map Showing the Location of MinRex’s East Pilbara Project Areas A total of ten rock chip samples were collected from the Marble Bar project tenement, P45/3039, in December 2017. Rock chip samples were collected in this area as metal detecting was impractical due to the presence of scattered scrap metal, on the surface, adjacent to numerous old workings. These rock chips were all of vein quartz rocks collected from the surface expressions of old workings and diggings along a ridge line in the northern quadrant of the tenement area, adjacent to a significant number of historical workings that are up to 10m deep (Figure 3). These workings are not in the DMIRS MINDEX database and no historical production records are available. In January 2018, the rock chip samples were sent to Perth for geological examination and interpretation, data recording and subsequent chemical analysis. The field team were targeting the basal part of a conglomerate along strike from gold occurrences on the adjacent Haoma Mining (ASX:HAO) tenements (Figure 3). Regional mapping by the Western Australian Geological Survey has identified these conglomerates as a part of the Mt Roe Basalt, the basal part of the Fortescue Group. Tenement Number E45/4560

Project

Status

Area

Holder

Bamboo Creek Granted

23 Blocks

E45/4681

Dalton’s

Granted

3 Blocks

E45/4853 P45/3039 P45/3040

Bamboo Creek Granted Marble Bar Pending Marble Bar Pending

2 Blocks 8.260Ha 3.025Ha

Sorrento Resources Sorrento Resources Elysian Resources R. Parker R. Parker

Application

Grant Date

Expiry Date

27 October 2017

26 October 2022

13 July 2017

12 July 2022

11 October 2017

10 October 2022

19 July 2017 19 July 2017

Table 1: Details of East Pilbara Project Tenements being acquired

2

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Figure 3: Aerial photo overview of Marble Bar project tenement P45/3039, showing rock chip sampling area (in foreground) and Haoma Mining’s Comet gold mine in the background The co-ordinate locations of these ten rock chip samples are given in the table below (Table 2) along with their assay values for gold, s