Rex Minerals Ltd. (Rex or the Company) announced an increase to the Mineral Resource estimate for Bells which is situated some 5km away from the larger Krista Project area, on the southern portion of Hog Ranch located in Nevada, USA. Bells is a subset of the earlier Maiden Mineral Resource estimate for the whole Hog Ranch Property. The Bells area was also mined by WMC as part of its open pit mining and heap leach operations at Hog Ranch which ceased in 1992. Bells Project Mineral Resource Estimate: The Mineral Resource estimate at Bells is based on a large historical drill hole database in conjunction with a recent RC drilling program completed by Rex in late 2019. The recent drilling has enabled the Company to significantly upgrade its understanding of the distribution of gold at Bells relative to its host rock geology. In addition, Rex has been able to compare the new block model against the historical production records to further test the validity of the data which was used to create the updated Mineral Resource. The geological distribution combined with low costs associated with a heap leach operation both support selection of the more appropriate cut-off grade of 0.2g/t Au to the Mineral Resource estimate. This is also comparable with other similar open pit and heap leach gold operations in south- west USA. Historically, ore was mined from five pits to the north (at the Krista Project) and one pit to the south (the Bells Project area) for a total of six pits. The Maiden Hog Ranch Mineral Resource, released by Rex on 2 September 2019, included Bells to the south and the Krista Project area to the north. A number of factors in combination (largely based on the results from the 2019 RC drilling campaign at Bells) have significantly enhanced the Mineral Resource estimate at Bells. Improvement of the Mineral Resource estimate for Bells was due to the confirmation of significant continuous shallow and higher-grade material that exists very close to the surface throughout the defined deposit area. This is reflected in the observation that over 90% of the Bells Mineral Resource exists within 75m of the surface.