Essex Minerals Inc. (TSXV:ESX) entered into an agreement to acquire KNX Resources Ltd for AUD 0.99 million on March 29, 2021. Post completion, Essex will have 83% interest in the Cumberland and Compass Creek Projects and 100% of the Mt Turner Project. Essex agreed to acquire in exchange for the issuance of 5 million ordinary shares to the shareholders of KNX. The consideration shares will be issued to the KNX shareholders on the basis of one Essex Minerals share for approximately every 4.052 KNX shares. The purchase shares will be subject to four month hold period and an additional voluntary escrow until October 24, 2021. If such revised purchase terms are not agreed by October 24, 2021, then it will be deemed that all offers by Essex to purchase KNX have been rejected and the provisions of the existing Heads of Agreement between the Parties shall apply. Essex Minerals Inc. (TSXV:ESX) agreed to acquire KNX Resources Limited on September 22, 2021. As of September 22, 2021, the revised purchase terms shall comprise the issuance of 5,000,000 ordinary shares in Essex (the "Purchase Shares") and 5,000,000 two-year share purchase warrants with an exercise price of 20c per warrant (the "Purchase Warrants") to the shareholders of KNX. The Company shall retain the right to force conversion of the Purchase Warrants if the Essex share price closes above $0.45 per share for more than five consecutive trading days (the "Conversion Event") prior to their expiry date. Upon occurrence of the Conversion Event, Essex shall undertake on a best endeavors basis to arrange buyers for any underlying shares from any unexercised Purchase Warrants at $0.40 per share and retain $0.20 per share from the sale proceeds for the Purchase Warrant exercise and deliver $0.20 per share to each KNX Purchase Warrant holder. The Purchase Shares and Purchase Warrants will be issued to the KNX shareholders on the basis of one Essex Purchase Share and one Essex Purchase Warrant for approximately every 4.052 KNX shares in issue. On completion of the acquisition, Essex will own 100% of Mt Turner and 88% of Cumberland and Compass Creek. The transaction is subject to the approval of the TSX Venture Exchange and it is expected to close in no later than May 31, 2021. As of July 13, 2021, the shareholders of KNX Resources Ltd has approved the transaction.

Essex Minerals Inc. (TSXV:ESX) completed the acquisition of KNX Resources Ltd on April 7, 2022. TSX Venture Exchange has conditionally approved the transaction.