Rex Minerals Limited (ASX:RXM) Quarterly Activities Report For June 2009

Melbourne, July 27, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has raised A$11.1 million over the past four months to accelerate its exploration and development programmes in South Australia and New South Wales. Significant drilling results were returned from the Hillside prospect and Parara (12kms from Hillside) on the Pine Point Copper Belt of South Australia's Yorke Peninsula. The securing in mid-July of two diamond drill rigs for continuous use over the next 12 months will increase exploration momentum.

OUTLOOK

The Company will spend approximately A$3.8 million on exploration activities over the next six months with a large number of detailed geophysical surveys planned and an increase in the drilling capacity from one to two drill rigs.

Diamond drilling will continue at the Hillside prospect to test the depth and lateral extension of the recent encouraging exploration results. Along the Pine Point Copper Belt during August and September Rex will undertake a number of large high-resolution geophysical surveys to identify new targets. Fresh assays are expected regularly through the quarter with 5,000 metres of drilling proposed.

At Mt Carrington in NSW new geophysical surveys (induced polarisation, electromagnetic and airborne magnetic) will be undertaken through the September 2009 quarter. A second drill rig will test the shallow high grade copper mineralisation identified in the March 2009 quarter.

CORPORATE

During the quarter, Rex completed a capital raising for a total of A$5.6 million to institutional and sophisticated investors at a price of A$0.70. The total number of shares on issue after the completion of the capital raising is 80.3 million.

ACTIVITIES PLANNED FOR NEXT QUARTER

Rex is completing a large number of large scale and high resolution geophysical surveys over the Pine Point Copper Belt and at the Mt Carrington project during the September 2009 quarter. This work is anticipated to lay the foundation for Rex to take the company to a new level. The objective of these programs is to focus the drilling effort into the best parts of these very large mineralised systems.

The drilling program over the September 2009 quarter will include ongoing drilling at the Hillside project to the north of section 74400mN, followed by drilling of targets identified from the detailed magnetic and electromagnetic surveys. At Mt Carrington the second drill rig will be focussed on testing the extent of the shallow high grade copper mineralisation identified within the existing mining licences, followed by testing of targets that are identified from the IP survey at the White Rock silver project.

HIGHLIGHTS

Pine Point Copper Belt, Yorke Peninsula, South Australia:

- Continued large scale high grade copper results
- 3,650 metres drilled in quarter
- Best results include 268 metres @ 0.7% copper (not true width)
- 5 drill holes completed and copper intersected at the Parara prospect

Mt Carrington, NSW:

- Option exercised to acquire 100% of the Mt Carrington project
- Exploration review completed

Corporate:

- A$5.6 million capital raising completed
- Cash position of A$12.3 million at quarter's end

For the complete Rex Minerals Quarterly Activities Report for June 2009, please click the link below:

http://www.abnnewswire.net/media/en/docs/61109-ASX-RXM-320959.pdf

Contact

Steven Olsen Managing Director Phone: +61-3-5337-4000 E-mail: info@rexminerals.com.au or Janet Mason Company Secretary Phone: +61-3-5337-4000 E-mail: info@rexminerals.com.au