Rockex Mining Corporation
TSX : RXM

Rockex Mining Corporation

April 17, 2013 17:14 ET

Rockex Mining Corporation Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwired - April 17, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S NEWSWIRE SERVICES

Rockex Mining Corporation ("Rockex" or the "Corporation") (TSX:RXM) is pleased to announce the closing of the first tranche of a non-brokered private placement (the "Private Placement") of units (each a "Unit") at $0.08 per Unit. The Corporation issued a total of 4,828,371 Units to accredited investors or persons otherwise entitled to rely on prospectus exemptions under applicable securities laws for aggregate gross proceeds of $386,269.68. Officers, directors, consultants, other insiders and their associates subscribed for the maximum amount permissible under the rules of the Toronto Stock Exchange. Each Unit is comprised of one common share of the Corporation (each a "Common Share") and one (1) transferable warrant of the Corporation (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.20 per share at any time within 24 months after the issuance of the Units. The gross proceeds received by the Corporation from the sale of the Units will be used by the Corporation for general working capital purposes.

All of the securities issued pursuant to this Private Placement are subject to a four (4) month hold period.

This news release is not an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Rockex

Rockex' Western Lake St. Joseph Project - which includes the Eagle Island Deposit, as well as additional potential deposits at Wolf Island and Fish Island - consists of a 100% interest in 23 contiguous mining claims and covers a nominal area of approximately 5,392 hectares located approximately 100 kilometres northeast of Sioux Lookout and 80 kilometres south-southwest of Pickle Lake. Rockex received a NI 43- 101 mineral resources estimate for its Eagle Island Deposit concluding that, at an 18% Soluble Iron cut- off grade, there are Indicated Mineral Resources of 590,847,000 tonnes grading 28.84% Fe and Inferred Mineral Resources of 415,757,000 tonnes grading 29.47% Fe in the Eagle Island Deposit (see press release dated February 3, 2011 and the related Technical Report filed on SEDAR).

In addition, Rockex holds a 100% interest in three other iron projects in relative close proximity to the Western Lake St. Joseph Project: (i) East Soules Bay, a property consisting of 9 contiguous mining claims (1,408 hectares) in and along the eastern end of Lake St. Joseph, approximately 40 kilometres east of Rockex' Western Lake St. Joseph Iron Project, (ii) the Doran Lake Property consisting of 4 contiguous mining claims (832 hectares) in and along the north shore of Doran Lake, south of Lake St. Joseph, approximately midway between the Western Lake St. Joseph Iron Project and the East Soules Bay Project, (iii) the Root Lake Project, a property consisting of 4 contiguous claims (832 hectares), approximately 100 kilometres north of Sioux Lookout near the central part of Lake St. Joseph and (iv) the North Spirit Lake Property in the Buckett Lake and Hewett Lake Townships, Red Lake Mining Division, District of Kenora, consisting of eight contiguous mining claims covering 1,536 hectares

Please visit the Corporation's website at www.rockexmining.com.

This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Rockex believes, expects or anticipates will or may occur in the future are forward-looking statements, including statements regarding the use of proceeds. This forward-looking information is subject to a variety of risks and uncertainties beyond Rockex's ability to control or predict that may cause actual events or results to differ materially from those described in such forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Rockex disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Rockex believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on this forward-looking information due to the inherent uncertainty thereof.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

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