Vancouver, BC - Essex Minerals Inc. (the 'Company') (TSXV: ESX) (OTCQB:ESXMF) is pleased to announce that further to its news release of September 29, 2022, it has closed a second tranche of its non-brokered private placement (the 'Financing') for $75,000, bringing the total raised to $819,500 in gross proceeds through the issuance of 40,975,000 units (the 'Units') at a price of $0.02 per Unit.

Each Unit consists of one common share and one share purchase warrant, with one whole warrant entitling the holder to purchase one additional common share (a 'Warrant Share') of the Company at a purchase price of $0.05 per Warrant Share for a period of 60 months from the date of closing. The Company now anticipates the final tranche closing of the Financing by October 22, 2022. In connection with the funds raised to date, the Company paid $22,820 and issued 1,141,000 finder's warrants to Canaccord Genuity Corp and $14,000 and 700,000 finder's warrants to Primary Capital Inc. Each finder's warrant is exercisable into one common share at $0.05 for 60 months.

The net proceeds from the Financing will be used by Essex for general working capital purposes, its mineral project and royalty generative activities and exploration expenditures on its existing mineral projects.

Contact:

Paul Loudon

CEO & Director

Harbor Access

Graham Farrell

Email: graham.farrell@harbor-access.com

Tel: +1 (416) 842-9003

Jonathan Paterson

Email: jonathan.paterson@harbora-ccess.com

Tel: +1 (475) 477 9401

WEB: www.essexminerals.com

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful

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