Rex Minerals Ltd. at the Hog Ranch Property (Hog Ranch) in Nevada USA, has shown potential for gold mineralization on a much larger scale than originally anticipated. Geological features that are common to the style of gold mineralization found at Hog Ranch are interpreted to extend over an area that is more than five times the size of the combined historically mined area (0.3Mozs) and current Mineral Resource area. Rex interprets these features to be related to a series of repeating structures which exist along a broad gold trend which appear to be controlling the gold deposition at Hog Ranch. Within this gold trend, Rex is exploring for two economically significant target types: Shallow, large-scale gold mineralization amenable to low-cost (open cut) mining and heap leach processing, and High grade vein hosted gold mineralization, underneath the shallow gold positions, as evidenced by many high-grade historical drill intercepts including drill hole 95-031 with 6.1m @ 61.8g/t gold (3m true width) and drill hole 89-042 with 9.1m @ 19.7g/t gold (3m true width). Rex has followed up this work by more than doubling its land position at Hog Ranch. Rex is now mobilizing to commence drilling in Third Quarter 2020 with a focus on both the shallow disseminated gold and the underlying high-grade gold targets. The geological features that are linked to the historical mining area and the current Mineral Resource at Hog Ranch are found to exist over a broad area beyond the current limits of the Mineral Resource. These features support the interpretation that there are multiple epithermal deposit types which could host significant gold mineralization and which appear to occur along a defined corridor or trend. The information that has led Rex to this interpretation is the combined presence of geological alteration features such as hydrothermal silica with surrounding clay minerals or alteration features in the surface rocks, overlapping geochemical anomalies and the coincidence of favorably-oriented fault intersection points. The above features are observed in greatest intensity along a broad corridor or trend which cuts through the dominant volcanic host rocks at Hog Ranch. At this stage, Rex has limited the scope of its regional exploration work to the local host rocks which are part of a large volcanic caldera known as the Cottonwood Creek Volcanic Center (CCVC). As part of the gold mineralization at Hog Ranch, there exists two distinct target types which are common for this type of deposit in Nevada. The target types are vastly different from each other in terms of their location, size, grade and subsequent mining and processing options. Large-scale, shallow disseminated gold target type . The historical mining area at Hog Ranch and current Mineral Resource along with a larger series of well-supported exploration targets near the surface (less than 200m deep) are all based on flat-lying disseminated gold mineralization. Where this gold mineralization has been weathered, the gold particles within the permeable host rocks are easily recovered using heap leach processing methods (used in historical mining at Hog Ranch) as is common practice throughout Nevada. In addition, the near-to-surface and flat-lying nature of the gold mineralization at Hog Ranch means that open pit mining with low strip ratios can be employed. A combination of higher gold prices, larger economies of scale and very low operating costs has enabled Rex to consider the definition and economic evaluation of a much larger volume of gold mineralization than was possible during the historical mining period when the gold price was averaging circa SGD 330/oz. The recently completed Bells Scoping Study has highlighted that even as a small-scale gold operation, the economics of mining shallow disseminated gold mineralization at Hog Ranch appear very attractive. In recognition of the larger-scale potential at Hog Ranch, Rex has conducted a detailed review of the structures that host the earlier mined area and current Mineral Resource area at the Krista Project. Information from this research has highlighted the importance of the gold mineralization relative to key fault intersections, with the higher-grade sections of the gold mineralization spreading into lower grades away from these intersection points. It was commonly observed that the high-grade sections of the shallow gold (>0.5g/t gold) extend for approximately 50m to 100m away from a defined structural intersection point (or series of structures), beyond which, lower-grade gold mineralization (typically 0.2 to 0.5g/t gold) would be dispersed further away for up to hundreds of metres and/or potentially linking up with another structural intersection point to form a very large continuous blanket of gold mineralization. A second important controlling feature in the Krista area is that the upper and lower contact of a particular rock unit called the Krista Tuff provides a focus for the gold-bearing fluids to disperse parallel to these contact positions. This contact position is largely flat-lying or shallowly-dipping to the north-west in the Krista Project area. There are other smaller positions which host gold mineralization at Hog Ranch. However, the larger and more continuous gold mineralization from both the historical mining area and for the current Mineral Resource relate specifically to where the Krista Tuff rock unit hosts an intersection point between two major structures. In the Krista area, it has been identified that the combined historical mining area and current Mineral Resource contains just under 0.8Mozs gold over a total of nine defined structure intersection points within the Krista Tuff rock unit. This geological understanding at Krista subsequently led Rex to complete a larger geological interpretation to identify extensions to the known structures which extend into the favorable Krista Tuff at shallow levels. The results from this work were limited to just the immediate area surrounding the Krista Project area (6km2), where the geology could be more confidentlyextrapolated from the historical mining information and current drill hole database.