Rex Minerals Limited (ASX:RXM) Drilling Results Extend Copper Mineralisation On The Zanoni, Parsee And Songvaar Structures

Melbourne, Nov 12, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has received assay results for five drill holes from its 100% owned Hillside Project on the Yorke Peninsula in South Australia. The assay results provide additional evidence that three structures host copper mineralisation for a combined strike length of 2.1 kilometres. The magnetic features that define all three structures remain to be tested for an addition combined length of over three kilometres.

Rex's Managing Director Mr Steven Olsen said "these results are a fantastic start to defining the mineralisation on the two new structures, Parsee and Songvaar."

"Importantly, now that we have found the position of the copper mineralisation on the Parsee and Songvaar we should be able to narrow the focus towards the thicker and higher grade parts on each, similar to what we achieved with the Zanoni structure."

Rex has continued the systematic drill testing of the Zanoni magnetic structure along with the Parsee and Songvaar magnetic structures recently defined in the detailed magnetic survey (announced 24 August 2009). This program has continued to define extensions to the known copper mineralisation on the Zanoni structure, and has importantly provided strong indications of copper mineralisation on the Parsee and Songvaar.

Assays have now been received for five holes, HDD040, HDD041, HDD042, HDD044 and HDD045, as shown on Figure 1. These results include:

Zanoni:

- 14m @ 2.7% copper and 0.6g/t gold from 138m in HDD040

Parsee:

- 24m @ 0.7% copper and 0.3g/t gold from 272m in HDD044
- Incl. 4m @ 1.4% copper and 0.8g/t gold from 278m
- Incl. 2m @ 1.5% copper and 1.1g/t gold from 302m

Songvaar:

- 25m @ 0.8% copper and 0.3g/t gold from 193m in HDD045
- Incl. 11m @ 1.3% copper and 0.4g/t gold from 195m

Drilling is ongoing at the Hillside project with two diamond drilling rigs. Further assay results are anticipated in December.

Drill hole HDD040 (Zanoni, section 74700N) intersected primary copper mineralisation from 138m down hole (approx. 120m below the surface). This drill hole, together with previous holes HDD035, HDD036 and HDD037 on section 74700N (announced 6 October 2009) confirms a strike length of 600m for the Zanoni copper mineralisation, open in all directions. Further extensions towards the north are being drill tested with additional results anticipated in December 2009.

Drill hole HDD044 (Parsee, section 74100N) intersected primary copper mineralisation from 155m down hole (approx. 134m depth below surface). All four drill holes completed to date on the Parsee structure have intersected visible supergene (chalcocite and native copper) and primary (chalcopyrite) copper mineralisation over a strike length of 700m, open in all directions. Assay results for two of these holes are tabulated below, with additional results anticipated in December 2009.

Drill hole HDD045 (Songvaar, section 73900N) intersected supergene and primary copper mineralisation from 78m down hole (approx. 67m below surface). Eight drill holes completed to date have all intersected visible supergene (malachite, chalcocite and native copper) and primary (chalcopyrite and bornite) mineralisation over a strike length of 800m, open in all directions. Assay results for two of these holes are tabulated below, with additional results anticipated in December 2009.

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

http://www.abnnewswire.net/media/en/docs/61731-ASX-RXM-327839.pdf

Contact

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