RX Exploration Inc.

RX Exploration Inc.

September 13, 2011 16:45 ET

RX Exploration Announces Stock Option Grants to Certain Officers, Employees and Consultants

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2011) - RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF) announced today the grant of stock options to certain officers, employees and consultants of the Company. A total of 1,100,000 stock options were granted pursuant to the terms of the Company's stock option plan: 600,000 were granted to senior officers (other than the Chief Executive Officer); 200,000 were granted to employees; and 300,000 were granted to a consultant. All options vest immediately and have a strike price of $0.55 (the RXE closing price on the date prior to the grant). One-third of the options will have a term of two years, and the balance will have a term of five years.

About RX Exploration Inc.

RX Exploration Inc. is a gold and silver mining company focused on growth in North America. The Company's shares are listed on the TSX-V (Symbol: RXE) and on the OTCQX (Symbol: RXEXF). There are 166,108,390 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. This includes 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 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, and projections of 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.

On Behalf of the Board

Darren Blasutti, President and CEO

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.

Contact Information

  • RX Exploration Inc.
    Darren Blasutti
    President and CEO
    416-359-9282, ext. 7803