Rex Minerals Limited (ASX:RXM) Preliminary Assay Results Show Continuation Of High Grade Copper At Hillside Project

Melbourne, Aug 21, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has received preliminary assay results from a drill hole (HDD033) on its 100% owned Hillside copper project on South Australia's Yorke Peninsula. The results included sections of very high grade copper (up to 21%) within a total intersection of 200m @ 1.0% copper and 0.2g/t gold from 140m down hole. Two distinct sections of mineralisation were identified with the following assay results:

- 7m @ 1.2% copper and 0.3 g/t gold from 144m.
- 60m @ 3.0% copper and 0.5 g/t gold from 280m.

Drill hole HDD033 had difficulty getting past a fault at 340m and the continuation of this drill hole was completed with a wedge hole (HDD033W1) which has intersected additional significant copper mineralisation to a depth of 425m, with the drill hole ending at 499.4m.

A second drill hole HDD034 has also been completed, extending approximately 20m east of HDD033. This drill hole was planned to identify the down-dip extensions to the steep, east dipping copper rich structures intersected in HDD033.

These three drill holes (HDD033, HDD033W1 and HDD034) are all located 100m to the north of drill hole HDD018 which intersected 259m @ 1.7% copper and 0.4g/t gold from 205m (announced 12 January 2009). The new preliminary assays combined with previous results indicate that the copper mineralisation is shallower towards the north. Diamond drilling is continuing at Hillside with the drill rig currently situated 100m north of HDD033 and targeting the shallower copper zones.

All samples for HDD033W1 and HDD034 have now been received by the laboratory with the final drilling results expect to be returned and announced by mid September 2009.

High resolution magnetic data has also been collected over the Hillside project area along with down-hole electromagnetic surveys. This information is currently being processed and the final data will be announced as the results are returned over the coming weeks.

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