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RXE RX Gold And Silver

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Share Name Share Symbol Market Type
RX Gold And Silver TSXV:RXE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

RX Exploration Advises Shareholders to Disregard June 22 Disclosure from the Company

22/07/2011 9:15pm

Marketwired Canada


RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF)
today advised shareholders to disregard a June 22, 2011 news release issued by
RXE's former President and Chief Executive Officer Murray Nye. 


The June 22, 2011 disclosure discussed test mining and test milling activities
at RXE's Drumlummon property in Montana, and also discussed the Company's
adjoining Bald Butte property. The disclosure was issued without the approval of
the Board at a time when Mr. Nye was a dissident seeking to win control of the
Board by way of a proxy contest. 


"While we appreciate the dedicated efforts of RXE's employees at Drumlummon, we
have concerns about how the June 22, 2011 disclosure could be misinterpreted by
shareholders," said Lorie Waisberg, Chairman of the Board of Directors. "Because
of our concerns, we caution investors not to rely on the June 22, 2011 news
release for investment decisions."


"In our view, the June 22, 2011 news release may invite investors to extrapolate
long-term results at Drumlummon on the basis of short-term activities that are
not properly supported by a feasibility study or a history of profitable
production. For the Bald Butte property, the June 22, 2011 news release
prematurely announced preliminary discussions for a possible joint venture."


"RXE intends to provide updates to shareholders on developments and progress at
the mine over the coming months as the exploration drilling and the requisite
technical work is completed," added Darren Blasutti, RXE's President and Chief
Executive Officer.


About RX Exploration Inc.

RX Exploration is currently focused on re-starting production and exploring its
Drumlummon Mine, a past producing high-grade, bonanza-type, epithermal
underground gold and silver mine in Montana.


The Company's shares are listed on TSX-V (Symbol: RXE) and on the OTCQX (Symbol:
RXEXF). There are 165,858,390 common shares issued and outstanding.


Cautionary Statement Regarding Forward Looking Information

This press release contains "forward-looking information" within the meaning of
applicable securities laws. Forward-looking information includes, but is not
limited to, the Company's expectations, intentions, plans and beliefs with
respect to, among other things, the Drumlummon property. Often, but not always,
forward-looking information can be identified by forward-looking words such as
"anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may"
and "will" or similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements about future
events or performance. Forward-looking information is based on the opinions and
estimates of the Company as of the date such information is provided and is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information, including the ability to develop and operate the
Drumlummon property, risks associated with the mining industry such as economic
factors (including future commodity prices, currency fluctuations and energy
prices), failure of plant, equipment, processes and transportation services to
operate as anticipated, environmental risks, government regulation, actual
results of current exploration activities, possible variations in ore grade or
recovery rates, permitting timelines, capital expenditures, reclamation
activities, social and political developments and other risks of the mining
industry. Although RXE has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. Readers should be aware that this
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that could cause actual results to differ materially from
those suggested by such information and are cautioned not to place undue
reliance on such information. By its nature, forward-looking information
involves numerous assumptions, inherent risks and uncertainties, both general
and specific, that contribute to the possibility that the predictions,
forecasts, projections and various future events will not occur. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information, future
events or other such factors which affect this information, except as required
by law.


On Behalf of the Board

Darren Blasutti, President and CEO

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