Rex Minerals Limited (ASX:RXM) Locates More Than 1 Km Of Shallow Copper Mineralisation At Hillside, South Australia

Melbourne, July 30, 2009 AEST (ABN Newswire) - Drilling at Rex Minerals Limited (ASX:RXM) 100% owned Hillside copper-gold project on the Yorke Peninsula, South Australia has located shallow copper mineralisation more than 1 kilometre south of the main copper-gold results defined to date at Hillside.

Assays from six diamond drill holes, completed near HDD022 (reported on 5 February 2009) include a best result of 17m @ 1.5% copper and 0.3g/t gold from a depth of 84m (including 7m @ 3.2 % copper). Drill hole HDD022 intersected 12m @ 2.0% copper and 0.4g/t gold from 56m.

Rex's Managing Director Steven Olsen said, "The latest results have confirmed the potential for shallow extensions to the large scale copper-gold mineralisation at Hillside."

Diamond drilling is continuing at Hillside, with the drill rig currently testing the extension of the Zanoni mineralised zone 100m to the north of HDD018 (announced on 12 January 2009). The current drill hole, HDD033, has intersected significant downhole widths of strong visible chalcopyrite copper mineralisation. This is interpreted to be the northern extension of the high grade copper observed in HDD018. This drill hole is continuing and assay results are anticipated in August.

Drilling Results

Six holes, HDD027 to 032, were completed to test the strike and depth extent of shallow copper mineralisation previously observed from HDD022 in the Zanoni Fault, on drill section 73250N. This section is located 1.1km south of HDD018, and was initially drilled to test the source of a gravity anomaly in this area. The results in HDD027 have supported previous drilling information, from which it is interpreted that steep east dipping structures with high grade (>1%) copper mineralisation exist within a broader envelope of lower grade copper mineralisation.

Drill holes HDD027 and HDD032 were drilled beneath drill hole HDD022 to test the down dip extension of the copper mineralisation. HDD027 intersected strong visible chalcopyrite copper mineralisation associated with magnetite and pyrite alteration. It is interpreted that HDD027 has passed through a high grade copper lens, whilst HDD032 has only intersected the broader low- grade copper halo beneath this lens.

Drill holes HDD028, 029 and 031 were drilled 100m to the north of HDD022 on section 73350N, to test the interpreted northern strike extension of the mineralised zone. None of these holes intersected significant copper mineralisation or alteration, and it is interpreted that the mineralised zone has been displaced in this area by cross-cutting faulting.

Drill hole HDD030 was drilled 100m to the south of HDD022 to test the interpreted southern strike extension of the mineralised zone. The hole intersected a zone of pyrite-magnetite alteration with minor levels of visible chalcopyrite copper, returning low grade copper results, along with moderate levels of coincident uranium mineralisation.

The table below summarises the results returned from HDD022, 027, 030 and 032:

--------------------------------------------------------HOLE ID   FROM  TO  INTERVAL  Cu    Au   U3O8  STRUCTURE           (m)  (m)   (m)     (%)  (g/t) (ppm)--------------------------------------------------------HDD022*     56   68    12     2.0   0.4    -     Zanoni--------------------------------------------------------HDD027      84  101    17     1.5   0.3    -     ZanoniIncluding   92   99     7     3.2   0.6    -           218  235    17     0.3    -     -      New--------------------------------------------------------HDD030     108  114     6     0.5   0.1    276   Zanoni--------------------------------------------------------HDD032     135  137     2     0.6    -     -     Zanoni           228  239    11      -     -     231   Zanoni--------------------------------------------------------* Reported previously

Current Activities

Geophysical programs are also in progress at Hillside, with a high resolution airborne magnetic survey recently completed, and airborne and down hole electromagnetic ('EM') surveys to be undertaken in the first week of August.
These programs will return significant data on the extent of the high grade copper-bearing sulphide lenses and magnetite structures at Hillside, and provide the basis for shallow and deep drilling programs to follow.

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