MinRex Resources : Acquires Another Lithium Project

• All 3 MinRex Marble Bar Projects display similar extensive linear potassic responses as the Archer Lithium Deposit - potassic zones outlining pegmatite hosted lithium mineralisation (Figure 3).

ForMinRex Resources Limited (ASX: MRR) ("MinRex" or "the Company") is pleased to announce that Odette Five (to be acquired by MinRex) has secured mineral rights to battery metals over an exploration licence application known as the Garden Creek Lithium Project (E45/5869) from existing holder True Fella Pty Ltd. The Garden Creek Lithium Project is a strategic addition to MinRex' Sisters Project (E45/5871) and Moolyella North Lithium Project (E45/5873), which are all in close proximity to the Archer Lithium Deposit 100% owned by Global Lithium (ASX: GL1) (Figure 1). A summary of the material terms of the acquisition is set out in Appendix A.

The acquisition represents a future next step in MinRex's tenement acquisition plan to become an emergent lithium explorer with high-quality assets within a 70km radius world-class Lithium and Tantalum producers Pilbara Minerals (ASX: PLS) Pilgangoora, Mineral Resources (ASX: MRL) Wodgina and close to the Archer Lithium Deposit 100% owned by Global Lithium (ASX: GL1).

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ASX Code: MRR

MinRex Resources Limited Non-Executive Director Mr George Karageorge commented:

"The MinRex team is delighted to close out a strategic mineral rights deal for Lithium and battery metals over the Garden Well Project that is strategically placed to the Global Lithium Archer lithium-tantalum deposit.

onlyThe deal now has MinRex sharing tenement boundaries in the East Pilbara World Class battery metal endowment and the rapidly increasing Lithium resource at Global Lithium's Archer deposit (10.1MT @ Li2O)".

Global Lithium has commenced a 60,000-meter RC drilling program and will be drilling in close proximity to all of MinRex's Sisters, Moolyella North and Garden Creek project boundaries".

"Our team will be on the ground in the next 7-10 days our highly experienced geologists will be flying extensive reconnaissance surveys over the Marble Bar and Hillside projects"

usepersonal

ForHistoric data and open file geophysical data was reviewed and evaluated in desktop studies to generate exploration targets. rom the open file review, MinRex has acquired from 89 rock chip and 744 soil sampling which has been added to a master database. The high-resolution airborne magnetic and radiometric survey flown in 2019, supports the targeting of Li-Sn-Ta pegmatite exploration.

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Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

historic evaluation of the recent geochemical tin and lithium defined areas.

∙ Reconnaissance ground proofing for drill pad construction and work permits will commence in March targeting known lithium mineralization in numerous pegmatites in all the areas.

∙ On boarding of high-level lithium geoscientists as exploration managers, consultants and advisors.

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Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

For personal use only

Figure 3 - Total Location Map highlighting MinRex Resources east Pilbara Project Portfolio

This ASX announcement has been authorised for release by the Board of MinRex Resources Limited.

-ENDS-

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Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

For further information, please contact:

George Karageorge

Non-Executive Director onlyMinRex Resources Limited

T: +61 8 9481 0389

M: 0419 944 484 George.Karageorge@minrex.com.au i fo@minrex.com.au

About MinRex Resources Limited

MinRex Resources Limited (ASX: MRR) is an Australian based ASX-listed emergent battery metals explorer with Lithium-Tin-useTantalum Projects in the Pilbara (WA) in close proximity to world-class Lithium and Tantalum producers Pilbara Minerals, Mineral R sources, and Global Lithium. MinRex also has a highly prospective portfolio of Gold-Copper projects in the Mercherson and Pilbara Regions (WA) and Gold-Silver-Copper and other metals projects in the Lachlan Fold Belt (NSW). The Company's tenements package cover 1000km2 of highly prospective ground targeting multi-commodities type deposits. The Company also

currently has JORC 2012 Resources totalling 352,213 oz gold at its Sofala Project (NSW).

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Pedro

Kastellorizos. Mr. Kastellorizos is the Chief Executive Officer of MinRex Resources Limited and is a Member of the AusIMM of whom have personalsufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr.

K stellorizos have verified the data disclosed in this release and consent to the inclusion in this release of the matters based on the information in the form and context in which it appears.

Forward Statement

This release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning MinRex's planned exploration programs and other statements that are not historical facts. When used in this release, the words such as "could", "plan", "estimate", "expect", "anticipate", "intend", "may", "potential", "should", "might" and similar expressions are forward-looking statements. Although MinRex believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve known and unknown risks and uncertainties and are subject to factors outside of MinRex's control. Accordingly, no assurance can be given that actual esults will be consistent with these forward-looking statements.

R ferences

Day J.,2021. Partial Surrender Report for E45/4309 for the Period 9 February 2015 to 8 February 2021, Open File Western Australia Report No. A126704.

Western Mining Australia., 1982. Twin Sisters Diamond Prospect, MC 45/9869-9877,10205-10211,10684-10704,10707-10716,11026-11027,11359-11370, Open File Western Australia Report No. A12456.

ForGlobal Lithium ASX Announcement dated 21 December 2021 2924-02469771-6A1070080(markitdigital.com)Global Lithium ASX Announcement dated 18 November 2021 2924-02457483-6A1064864(markitdigital.com)

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Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au