RX Exploration Inc.

RX Exploration Inc.

June 27, 2011 07:00 ET

RXE Announces Investor Call With RXE Nominees' Designated President and CEO Darren Blasutti Tonight at 7 PM (Eastern Time)

RXE Nominees Respond to Latest Dissident Letter

TORONTO, ONTARIO--(Marketwire - June 27, 2011) - RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF) announced that it will hold an investor conference call today, Monday, June 27, 2011 at 7 p.m. (Eastern Time), to discuss the Company's strategic value creation plan and its team of nominees for the Board of Directors.

RXE also responded to the latest letter from a group of dissidents who are trying to seize control of the Company.

Momentum continues to build for the "BLUE" campaign. RXE reminds shareholders that the deadline to vote your BLUE proxy is fast approaching. 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).

Investor Call details

In order to ensure that all shareholders have an opportunity to make informed proxy and voting decisions, and to have their questions answered, RXE cordially invites shareholders to attend an Investor Call on Monday, June 27 at 7:00 p.m. (Eastern Time).

During this call, the RXE Nominees' designated President and CEO Darren Blasutti will review the qualifications and experience of the RXE nominees for the Board and the value creation plan they propose to implement. Shareholders with questions for Mr. Blasutti are invited to send them via email to assistance@laurelhill.com.

To participate in the call, simply dial toll-free 1-800-319-4610 and ask the operator to join the RX Exploration Investor Call. Shareholders from outside Canada and the USA can join the call by dialing 1-604-638-5340.We encourage shareholders to dial-in at least five minutes before the call starts.

Shareholders can also attend by listening to an audio webcast of the call by following the links from RXE's website or by going directly to http://services.choruscall.com/links/rxe110628.html.

A recording of the call will be available at www.rxexploration.com shortly after the completion of the Investor Call.

"I look forward to introducing myself and telling shareholders a little more about the new RXE nominees on the call," said RXE designate President and CEO Darren Blasutti. "RX Exploration is an exciting company that could have a bright future but it's up to shareholders to vote BLUE and make this happen. I invite shareholders to join me as I discuss our plan to transform assets in the ground into sustainable, long term value for shareholders."

Dissidents continue attempts to distract from the facts

In their letter of June 24, 2011, the dissidents failed to address 11 critical questions raised by the RXE nominees. Indeed, their answers would be comical if the issues were not so serious and the stakes for RXE not so high. For example, in response to a concern raised about a $60,000 cheque that then-CFO Max Polinsky wrote to himself, the dissidents responded by claiming that he had signing authority. His authority is not the issue. The dissidents still have to explain if he abused this authority and concealed that abuse from the Board.

We respectfully submit that shareholders deserve straight answers to the direct questions that have been asked. In the meantime, we have posted our detailed response to the dissidents letter on the RXE website at: http://rxexploration.com/proxycontest/proxy_contest_news_filings/.

"Fortunately, shareholders and independent proxy advisors are focusing on what actually matters and are refusing to be fooled by the dissident distract and distort tactics," said John O'Donnell, Chairman of RXE. "RXE's nominees have now been endorsed by Sprott, the Company's largest shareholder, and by both of North America's top proxy advisors, Glass Lewis and Co. and Institutional Shareholder Services. They were not distracted from the facts and we caution shareholders to avoid the dissident trap. The independent proxy advisors objectively considered the historical facts and recognized the risk that the dissidents represent and the upside of the RXE nominees."

"The steadily increasing flow of BLUE proxies suggests that many of you have correctly determined who is in the best position to deliver value. On the one hand you can vote for the dissidents who have stated their intention to extract hundreds of thousands of dollars from RXE to cover the costs of their dissident action, if they're successful. Alternatively, every vote for the BLUE proxy is a vote for experienced mining and corporate executives who can build a world-class mining company and create long term sustainable value for all shareholders. Every vote is crucial at this point so it's important that if you have not yet voted, or previously voted the other proxy that you vote the BLUE proxy today."

Vote your BLUE proxy today.

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.

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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