Rex Minerals Ltd. has received assay results (second batch) completing the 7 hole drill program at the Bells Project (Bells). This is part of the recent 21 hole RC drilling program at Rex’s Hog Ranch Gold Property, Nevada, USA. Results from the Krista drill program are expected within the next 2-3 weeks. The objective of the drilling program at Bells was to enable further conversion of the Inferred Mineral Resource into the higher confidence category of an Indicated Mineral Resource for use in a Feasibility Study. The 2020 drilling program was designed to add confidence in the Inferred portion of the Bells Mineral Resource (published on 29 January 2020) in addition to locate possible extensions at depth to the current Mineral Resource. Both objectives were successfully achieved. All drill holes which passed through the Mineral Resource (HR20-002 through to HR20-007) confirmed to a high level of accuracy both the location and grade continuity of the gold mineralisation. In addition, drill holes HR20-004 and HR20-005 successfully identified further extensions to the gold mineralisation at depth, with assay results remaining elevated at the end of each drill hole. A further significant outcome was derived from a review of the drilling information of the 2019 drilling program relative to the 2020 drilling results. This review has confirmed that a higher grade section of gold mineralisation in drill hole HR19-007 is related to a steep dipping structure which cuts through the centre of the Bells deposit in a north-westerly direction. This structure has also been identified as a laminated quartz-adularia vein which is exposed at the base of the historical open pit at Bells, confirming the relative dip and strike of its associated structure. The current defined position of the quartz veining and associated gold mineralisation on this structure is interpreted to extend for at least 500m in length and remains open in all directions. Following on from the positive Bells Scoping Study announced 9 June 2020, in preparation for permitting and for use in the Feasibility Studies, the Company has commenced several work programs including: A comprehensive Cultural Survey of the entire Bells proposed mine development and infrastructure area has commenced with a field team currently on the ground. A Geotechnical Survey. Assay results from the Krista drill holes are anticipated within the next two to three weeks. Results from the recently completed geophysical surveys are anticipated within the current quarter, with follow-up surveys planned before the end of the year. The next phase of drilling is being planned and anticipated in the last quarter of 2020.