RX Exploration Inc.
TSX VENTURE : RXE
OTCQX : RXEXF

June 24, 2011 08:00 ET

RX Exploration Announces ISS Recommendation That Shareholders Vote FOR the RXE Nominees on the BLUE Proxy

TORONTO, ONTARIO--(Marketwire - June 24, 2011) - RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF) announced today that Institutional Shareholder Services Inc. ("ISS") has recommended that its clients vote FOR the RXE nominees on the BLUE proxy.

RXE noted that ISS is a leading independent international corporate governance analysis and proxy voting firm. ISS makes its recommendation after hearing from both sides and carefully considering what's in the best interests of shareholders. Its recommendations assist shareholders in making voting choices regarding proxy voting decisions. The recommendation in support of RXE's nominees from ISS follows a similarly favourable recommendation from North America's other major independent proxy advisor, Glass Lewis.

In recommending that its clients vote FOR the RXE nominees on the BLUE proxy, ISS stated:*

"In terms of job experience, the credentials of [RXE's] slate would appear to be superior to that of the dissident slate. Based on the experience of the [RXE] team, it may be expected that the [RXE] team would be able to perform effectively and deliver value."

ISS added,

"From a perusal of the SEDAR filings, it appears that a Technical Report NI 43-101 has not been filed recently. The last filing on record dates back to November 2009. Since substantial developments would have taken place after that date, an independent study [as proposed by RXE's nominees] is a welcome step."

John O'Donnell, Chairman of RXE, commented: "RXE has now received recommendations from both of the major independent proxy advisory services, representing powerful third party endorsements to vote the BLUE proxy. Once again, we call on all shareholders to deliver their proxies as soon as possible, no matter how large or how small. Even if you have already voted for the dissidents, you can change your mind and vote BLUE to support RXE's new team and its plan to build a world-class mining company that creates long-term, sustainable value for all shareholders."

Engagement of Auditor

Separately, RXE confirmed the engagement of auditor Fuller Landau to review RXE's financial records to gain a better understanding of its current financial position. RXE had intended to carry out the review discreetly but became obliged to confirm it following an announcement about the engagement by the dissidents yesterday.

Voting Instructions

RXE recommends that shareholders vote only the BLUE proxy FOR the RXE nominees as the primary step towards real value creation. A completed BLUE proxy will replace any previously voted proxy – dissident or the original Management proxy mailed in May.

In order to be counted at the Annual and Special Meeting of Shareholders, the BLUE proxy should be voted well in advance of the proxy voting deadline of July 4, 2011 at 4:30 p.m. (Toronto time). Please do not attempt to mail your proxy unless you have no other alternative. Shareholders who require assistance voting the BLUE proxy should please contact Laurel Hill Advisory Group at 1-877-304-0211 or by e-mail at assistance@laurelhill.com.

The vote will take place at the adjourned Annual and Special Meeting of Shareholders on July 6, 2011 at 4:30 p.m. (Toronto time) at the Ontario Bar Association Conference Centre, Salon 3, 20 Toronto Street, Toronto, Ontario M5C 2B8.

About RX Exploration Inc.

RX Exploration Inc. is a gold exploration company whose strategy is to re-examine gold and silver projects within North America that have previously reached advanced exploration, underground development or past gold or silver production. The Company is currently focused on re-starting production from its Drumlummon Mine, a past producing high-grade, bonanza-type, epithermal underground gold and silver mine in Montana.

The Company's shares are listed on TSX-V (Symbol: RXE) and on the OTCQX (Symbol: RXEXF). There are 160,438,980 common shares issued and outstanding.

Cautionary Statement Regarding Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, the Company's expectations, intentions, plans and beliefs with respect to, among other things, the Drumlummon property. Often, but not always, forward-looking information can be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information is based on the opinions and estimates of the Company as of the date such information is provided and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including the ability to develop and operate the Drumlummon property, risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration activities, possible variations in ore grade or recovery rates, permitting timelines, capital expenditures, reclamation activities, social and political developments and other risks of the mining industry. Although RXE has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should be aware that this forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by such information and are cautioned not to place undue reliance on such information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

*Permission to quote from ISS report was neither sought nor obtained.

On Behalf of the Board

John F. O'Donnell, Chairman of the Board

John A. Ryan, Chief Financial Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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