Explorex Resources Inc. announced the Company has acquired a 100% interest in the 803 hectare high-grade gold and copper Bonanza Mountain project ("Bonanza Mountain" or "Project"), through a combination of staking and a sale and purchase agreement, in the historic Knight's Mining Camp, Grand Forks area, BC. The Bonanza Mountain property consists of three claims totalling 803 hectares, is readily road accessible and is situated approximately 20 km due north of Grand Forks, BC, on the east slope of the Granby River. The Project encompasses the historic Knight's Camp, centered on the Bonanza, Mountain View, Colorado and Nevada lapsed Crown Grants ("Bonanza Crown Grants") on what is locally known as Bonanza Mountain. The vendor has granted to 1223104 B.C. LTD, a wholly owned subsidiary of Explorex ("Purchaser"), the sole and exclusive right to acquire an undivided 100% right, title and interest in and to the 485 hectares mineral claim ("Vendor Claim") that constitutes the core of the Bonanza Mountain project. In exchange, the Purchaser will make a cash payment of $4,000 within 10 days of the date of execution of the Sale and Purchase Agreement and issue 300,000 shares of 1223104 B.C. LTD, within 10 days of listing the subsidiary on the Canadian Securities Exchange or TSX Venture Exchange ("Payment") to the Vendor. Upon receipt of the Payment by the Vendor, an undivided 100% interest in and to the Vendor Claim will vest to the Purchaser, subject to the Vendor retaining a 1.5% NSR Royalty. Two thirds (1%) of the 1.5% NSR Royalty can be purchased for $1,000,000 thereby reducing the NSR Royalty to 0.5%.