Rex Resources further extends closing of RTO

Mr. Craig Taylor reports REX RESOURCES ANNOUNCES ASSET PURCHASE AGREEMENT ENTERED INTO BY BATHURST METALLIC CORP. WITH RESPECT TO STRATMAT AND HALFMILE LAKE PROJECTS Further to Rex Resources Corp.'s news releases dated Jan. 14, 2026, and May 19, 2026, Bathurst Metals Corp., a wholly owned subsidiary of Bathurst Holdings Inc., has entered into an asset purchase agreement dated Aug. 28, 2026, with FTI Consulting Canada Inc., solely in its capacity as court-appointed monitor of Trevali Mining Corp., being the sole shareholder of Trevali Mining (Maritimes) Ltd., and not in any other capacity, and Trevali, by the monitor following court approval, pursuant to which Trevali has agreed to transfer to BMC, and BMC has agreed to purchase and acquire the Stratmat and Halfmile projects located in New Brunswick, Canada, upon the terms and conditions set forth in the asset purchase agreement. The closing of the asset purchase agreement is subject to, among other things, court approval and the approval from the government of New Brunswick. In addition, Rex Resources and BHI have executed an amendment to the definitive agreement (as announced on Jan. 14, 2026, and May 19, 2026) to extend the closing date of the reverse takeover transaction to no later than March 31, 2027. The execution of the asset purchase agreement is a critical step in the RTO transaction. Rex Resources and BHI will diligently work together toward completing the RTO transaction and making all necessary submissions and filings in connection with the RTO transaction, as soon as BHI receives approval from the government of New Brunswick to close the transactions contemplated under the asset purchase agreement. The closing outside date in the asset purchase agreement is Nov. 30, 2026. Additional information Further updates in respect of the RTO transaction (including financial information regarding BHI) will be provided in a subsequent news release. Also, additional information concerning the RTO transaction, the asset purchase agreement, the parties and the resulting issuer will be provided in the filing statement to be filed by the parties in connection with the RTO transaction, which will be available under the company's SEDAR+ profile. Trading in the company's common shares is currently halted and is not expected to resume trading until completion of the RTO transaction. About Rex Resources Corp. Rex is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. We seek Safe Harbor.