News

RX Exploration Inc. Completes $2,000,000 Tranche Of Private Placement

March 9, 2009

FOR IMMEDIATE RELEASE: Toronto, Canada, March 9, 2009 – RX Exploration Inc. (the “Company”) is pleased to announce that on March 2, 2009, it completed the first tranche of a private placement of up to 25,000,000 units at $0.20 per unit through IBK Capital Corp. of Toronto for up to $5,000,000.  Each unit consists of one common share and one share purchase warrant.  Each warrant entitles the holder to purchase one additional common share for two years at $0.40 per share (the expiry date shall be accelerated to thirty days from the tenth consecutive trading day on which the common shares of the Company close at or above $0.60).  The securities issued are subject to a four month hold period.  This private placement of 9,865,000 units resulted in proceeds of $1,973,000 which will be used to begin production and fund further exploration at the Drumlummon gold and sliver project in Montana.

Cash commissions totalling $177,570 (9%) were paid in connection with this private placement and 986,500 broker’s warrants were issued.  The broker’s warrants are exercisable for two years at $0.20 per share.

The Company previously completed in February 2009 a non-brokered private placement of 140,000 units at $0.20 per unit.  Each unit consisted of one common share and one share purchase warrant.  Each warrant entitles the holder to purchase one additional common share for two years at $0.25 per share.  The securities issued were subject to a four month hold period.  This private placement resulted in proceeds of $28,000 which will be used to finance general administrative and working capital.

For further information please contact: John F. O’Donnell, Chairman of the Board, at (416) 862-7330 or Murray R. Nye, President, at (204) 989-2434.

RX Exploration Inc. is a reporting issuer in good standing in the Province of Ontario whose shares are listed on CNSX (Symbol: RXE). There will be 58,714,078 common shares issued and outstanding following the completion of the private placement.

CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements: Statements made in this news release that relate to future plans, expectations, events or performances are forward looking statements. Such statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.