RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:
RXE)(OTCQX: RXEXF) today assured Montana Governor Brian Schweitzer
that RXE has no plans to cut jobs at the Drumlummon gold project
and will in fact increase employment to more fully explore the
property while focusing on operating safely.
RXE said it wrote to Governor Schweitzer a week ago and has
posted this letter to its website, at
http://www.rxexploration.com/proxycontest/proxy_contest_news_filings/.
RXE's designated President and CEO Darren Blasutti said he
believes Governor Schweitzer was misinformed by a group of
dissidents seeking to seize control of RXE's Board of Directors.
"As I said in my letter to the Governor, I would welcome an
opportunity to discuss our plans with him and I look forward to
working with him and other stakeholders to make Drumlummon a safe
and profitable operation."
RXE added that Mr. Blasutti was contacted by a reporter on June
29, 2011 and was quoted accurately regarding RXE's position. Mr.
Blasutti said the RXE nominees will expand employment in Montana
almost immediately and that they hope to use the Drumlummon mine as
a platform to develop and re-open closed gold mines in Montana. Mr.
Blasutti also stated that the RXE nominees do not intend to bundle
the assets and sell them.
"We really like this asset," said Mr. Blasutti to the reporter,
referring to the Drumlummon project. "We think it's a great
platform asset to grow a company from. We really think the state is
opening up from a mining perspective....We think we can take this
mine to the next step, which is growing this mine, not shutting it
down."
Time is growing short. Vote your BLUE proxy today.
RXE recommends that shareholders vote only the BLUE proxy FOR
the RXE nominees as the primary step towards real value creation. A
completed BLUE proxy will replace any previously voted proxy -
dissident or the original Management proxy mailed in May.
In order to be counted at the Annual and Special Meeting of
Shareholders, the BLUE proxy should be voted well in advance of the
proxy voting deadline of July 4, 2011 at 4:30 p.m. (Toronto time).
Please do not attempt to mail your proxy unless you have no other
alternative. Shareholders who require assistance voting the BLUE
proxy should please contact Laurel Hill Advisory Group at
1-877-304-0211 or by e-mail at assistance@laurelhill.com.
The vote will take place at the adjourned Annual and Special
Meeting of Shareholders on July 6, 2011 at 4:30 p.m. (Toronto time)
at the Ontario Bar Association Conference Centre, Salon 3, 20
Toronto Street, Toronto, Ontario M5C 2B8.
About RX Exploration Inc.
RX Exploration Inc. is a gold exploration company whose strategy
is to re-examine gold and silver projects within North America that
have previously reached advanced exploration, underground
development or past gold or silver production. The Company is
currently focused on re-starting production from 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 160,438,980 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
John F. O'Donnell, Chairman of the Board
John A. Ryan, Chief Financial Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Shareholders: Laurel Hill Advisory Group Toll-free
877-304-0211 Collect: 416-304-0211 Media: Longview Communications
Inc. Joel Shaffer 416.649.8006 jshaffer@longviewcomms.ca Longview
Communications Inc. Alan Bayless 604.694.6035
abayless@longviewcomms.ca
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