Rex Minerals Limited (ASX:RXM) Announce An Equity Capital Raising Of A$42 Million

Melbourne, Oct 26, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) is pleased to announce an underwritten equity raising of approximately A$42 million comprising a 3 for 10 accelerated non-renounceable pro-rata entitlement offer ("Entitlement Offer") at an offer price of A$1.70 per share.

The Entitlement Offer will comprise a non-renounceable entitlement offer to institutional shareholders ("Institutional Entitlement Offer") and to retail shareholders ("Retail Entitlement Offer").

The Entitlement Offer is underwritten by E.L. & C. Baillieu Stockbroking Ltd.

Eligible shareholders will be able to subscribe for 3 new shares for every 10 shares they own at an offer price of A$1.70 per share. Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable.

The Institutional Entitlement Offer will be conducted on Monday, 26 October 2009. Rex expects to announce the outcome of the Institutional Entitlement Offer prior to the market opens on Tuesday, 27 October, with trading expected to recommence at 10.00 am (AEDT) on that day. The Retail Entitlement Offer will be open between Friday, 30 October 2009 and Tuesday, 17 November 2009. The Record Date for the Entitlement Offer will be 7.00 pm (AEDT) on Wednesday, 28 October 2009.

A Retail Entitlement Offer Booklet together with the investor presentation will be mailed to eligible retail shareholders on Friday, 30 October 2009.

For the complete Rex Minerals ASX Announcement and Presentation, please click the link below:

http://www.abnnewswire.net/media/en/docs/61638-ASX-RXM-326626.pdf

Contact

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