Corporate Overview

RX Exploration Inc.'s (“RX Exploration” or the “Company”) strategy is to re-examine mineral projects within North America that have previously reached advanced exploration, underground development or past gold or silver production.

 

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The gold prices of today can obviously enhance the economics of many past projects when gold prices were considerably lower. That being said, RX Exploration also recognizes that today’s economics often require a project with 1,000,000 ounces of gold potential. By re-examining past projects but keeping our focus on those we believe have potential for size, we feel that we can enhance shareholder value. We are also keenly aware of the old adage that says “The best place to find a gold mine is from within, or next to an old gold mine.”

 

Drumlummon Mine Project, Montana , USA

 

The Company’s flagship project is the Drumlummon Gold and Silver Mine, located near Marysville , Montana , USA (the “Drumlummon”). The Drumlummon is a bonanza style low-sulphidation epithermal gold and silver deposit with historic production of approximately one million ounces of gold equivalent. The mine has never been fully exploited or explored and material that was once considered waste is now potentially economic. In addition, the Company has discovered a series of entirely new high-grade gold and silver veins that remain open for expansion in three directions. Refer to News or Properties.

 

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The governmental permits required to proceed with restarting operations have been obtained by the Company and it is proceeding with dewatering the Drumlummon underground workings down to the 600 foot level. The Company’s goals for 2010 are to develop an underground decline to the Charly Vein and the D Block zones; conduct test mining on the Charly Vein and D-Block zones; complete metallurgical testing; and continue to outline the resource through underground drilling and drifting.

 

Directors & Management

 

RX Exploration is guided by a veteran Board of Directors with over 100 years in combined experience serving publicly traded companies.

 

At the management and field levels the Company has also successfully attracted top quality people. The Company’s CEO, Murray Nye, comments: “The quality of the Drumlummon Project has enabled us to attract some of the best people in the world. They are really excited about working on this project.” Refer to Directors & Management 

 

Finance

 

Since acquiring the Drumlummon Project in 2006, RX Exploration has raised some $11 million toward exploration, refurbishment and re-start. The Directors and Management will continue to source development capital to further advance the Drumlummon, with the ultimate aim of generating internal cash flow through mining operations. Refer to Financial and MD& A Reports.