Mr. Craig Taylor reports

REX RESOURCES PROVIDES UPDATE TO TRANSACTION WITH BATHURST HOLDINGS

Rex Resources Corp. and Bathurst Holdings Inc. have executed an amendment to the definitive agreement (as announced on Jan. 14, 2026) to extend the closing date of the reverse takeover transaction to no later than Sept. 30, 2026, and to remove the 2-per-cent net smelter return royalty on BHI's proposed projects. All other terms of the definitive agreement remain in full force and effect and unamended.

BHI entered into a term sheet and exclusivity agreement providing BHI the exclusive right to acquire the large claim package comprising the Stratmat and Halfmile projects in New Brunswick. BHI is working closely with the government of New Brunswick on closing the acquisition.

Rex 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 complete the acquisition of the Stratmat and Halfmile projects.

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 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.