Quarterly Activities Report - for the period ended 30 June 2015

Date: Jul 2015

Highlights:

  • Rex Minerals (Rex) released the results of the Extended Feasibility Study (EFS) during the quarter.
  • The EFS detailed a stand-alone copper-gold project (Hillside Project) with an estimated initial 13+ year mine life at a processing rate of 6 million tonnes per annum (Mtpa) with a head grade of 0.66% copper over the first 12 years of production.\
  • The EFS has identified the Hillside Project as one of the more attractive next generation of new copper projects. This will position the Company well for attracting capital and ultimately creating value from the development of the Hillside Project.

Summary comments:

After 10 months of work which included an extensive peer review and optimisation process, Rex has completed the EFS for its 100% owned Hillside Project.

The Hillside EFS sits within the development footprint of its existing Mining Lease to deliver 35,000tpa of copper and 24,000ozspa of gold for the first 12 years of operation. The size of the processing plant has been designed for 6 million tonnes of annual throughput.

Rex has also released an updated Mineral Resource and Ore Reserve during the quarter. The Hillside open pit Ore Reserve now stands at 82Mt @ 0.62% copper and 0.16g/t gold.

Employment during construction is estimated at up to 550 people, and during operations at approximately 500 people.

Outlook:

Rex will continue to engage with the Government regulator in preparation for the development phase of the Project. This work will take place in conjunction with negotiations with potential funding partners for the development of the Hillside Project.

Click to download the full version of Rex Minerals Ltd's Quarterly Activities Report - for the period ended 30 June 2015.

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