The Concerned Shareholders of RX Exploration Inc.

June 16, 2011 16:16 ET

RX Exploration Concerned Shareholders File Response Letter

Vote Your GOLD Proxy Today

WINNIPEG, MANITOBA--(Marketwire - June 16, 2011) - The Concerned Shareholders of RX Exploration Inc. ("RX Exploration" or the "Company"), Bob Bannerman, Mike Gunsinger, Murray Nye and Max Polinsky (the "Concerned Shareholders"), announced today the filing of their Response Letter to the Amendment to the Management Information Circular dated June 12, 2011 (the "Amended Circular"), which provides shareholders with further compelling reasons to support the Concerned Shareholders' director nominees and effectively refutes the current Board's allegations. Shareholders are reminded to vote their GOLD proxy today.

A Better Vision

The Concerned Shareholders are prepared to move the Company forward with a plan to reap the benefits of gold and silver production from RXE's Montana-based mine. This is a crucial time for RX Exploration and the Concerned Shareholders are of the view that it is of vital importance to have a strong, focused and experienced board.

The Concerned Shareholders know the mine, the employees and the State of Montana regulators. They have succeeded in developing a best-in-class mine in Montana, where others have failed, and they believe that theirs is an achievable plan that will strengthen shareholder value quickly. The current Board's so-called "value creation plan," outlined in the Amended Circular, will merely result in costly delays and may lead to needless further dilution of shareholders.

A Better Plan

The Concerned Shareholders have put forward a slate of director nominees who understand the Company's business: narrow vein mining. The current Board is putting forth "a blue ribbon slate," which may be ideal for a "mining finance" company and/or a "big-mine," "large open pit or underground bulk mining" company but may not be familiar with the specialized mid-tier mining approach that is required.

The Concerned Shareholders have worked for the Company for years without any salary. In contrast, the current Board has siphoned more value from the Company than the entire management team and its plans to dilute shareholders through the proposed private placement transaction only serves to continue that trend.

It is clear that RX Exploration needs a new Board that is experienced, focused and free from conflict. The Concerned Shareholders, being the founders and managers who have helped to create this company, are experienced, strong, independent and completely aligned with shareholders.

Support the Concerned Shareholders and protect your investment by voting ONLY your GOLD proxy today, and discard any BLUE proxy received from the current Board.

Shareholders who require assistance voting their GOLDproxy should contact Kingsdale Shareholder Services Inc. at 1-888-518-6812 or email

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