VANCOUVER - Essex Minerals Inc. (the 'Company') (TSXV: ESX) (OTCQB: ESXFM) (FRA: EWX1) is pleased to announce that it has reached terms with Meryllion Resources Corporation (CSE: MYR) ('Meryllion'), a company listed on the Canadian Stock Exchange, for an arm's length option and earn-in joint venture on the Mt Turner copper-molybdenum and Drummer Fault gold projects in north Queensland, Australia.
Exploration by Essex has identified a coherent copper in soil anomaly (>100ppm) flanking a molybdenum in soil anomaly (>10ppm) over a 4km x 4km area at Mt Turner. The soil anomalies are coincident with circular aeromagnetic and geological features which display classic signatures of a large copper-molybdenum porphyry system.
Mt Turner also has the potential to identify an economic gold resource along the Drummer Fault structure, which has demonstrated gold mineralization beneath six small oxide open pits, previous drilling and rock chip samples along 14 km of the identified strike length within the project area.
Essex has granted Meryllion a 90-day option to fund a minimum $250,000 on exploration at Mt Turner, including a detailed induced polarization survey to define drill targets within the porphyry system.
Meryllion will then have the right to earn up to a 70% interest in the project by funding up to a further $3,800,000 in exploration in three stages.
$400,000 on exploration within 12 months from the exercise date of the Option ('First Stage Earn-In') to earn 25%; $1,400,000 on exploration within 36 months of exercising the Option ('Second Stage Earn-in') to earn 51% and a further $2,000,000 on exploration to earn a total 70% interest.
Essex Minerals President and CEO Paul Loudon: said: 'Copper is expected to play a critical role in the electrification of the global economy and the transition to green energy. An independent report by Goldman Sachs last year indicated the worldwide demand for copper for transitioning to green energy alone will increase from under 1Mt in 2020 to approximately 5.4Mt by 2030 (16% of total global copper demand).
'We are very pleased that our initial exploration has demonstrated the potential for the discovery of a large copper-molybdenum (with silver and gold) deposit at Mt Turner and has resulted in favourable option and earn-in joint venture terms with Meryllion.'
In addition to the exploration programs, Meryllion will pay Essex $25,000 for the option and $75,000 to exercise the option.
About Essex
Essex Minerals is an exploration and development company focused on mineral exploration and mine development and finance opportunities where it can adopt an option earn-in and joint venture model. The company identifies geological teams that have already expended the time and capital to assemble top quality, advanced projects, with a particular emphasis on gold projects in Tier 1 jurisdictions, where the Company can earn an interest by funding exploration. Management's time is shared across several different projects, as the geological teams already in place at the project level manage the approved exploration and development programs. This strategy has the potential to accelerate the growth in shareholder value for Essex by earning an interest in a range of projects of merit in a much shorter time frame than otherwise would be possible.
Contact:
Paul Loudon
Web: www.essexminerals.com
OPTEGRA VENTURES INC. 
