Pre-Drilling Geophysical Survey Program Conducted at Apex's Lithium Creek Project

Rhea-AI Summary

Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) has launched Gravity and Hybrid-Source Audio-Frequency Magnetotelluric (HSAMT) geophysical surveys at their Lithium Creek Project in Churchill County, Nevada. The surveys target the Fernley Sink area to gather important data for drill hole targeting.

This initiative aims to explore what could be the only viable lithium brine district outside of Clayton Valley. The surveys will support the company's expanded lithium brine exploration and provide targets for the maiden drilling program. Apex will announce final geophysical results and approximate drill targets once data compilation and interpretation are complete, followed by permitting procedures.

The survey methods include:

• Gravity surveying: A passive method measuring Earth's gravitational field variations to detect subsurface density contrasts
• HSAMT: An electromagnetic survey combining natural-source magnetotelluric signals with controlled-source transmitters for enhanced signal strength

Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) ("Apex" or the "Company") is pleased to announce the initiation of Gravity* and Hybrid-Source Audio-Frequency Magnetotelluric** ("HSAMT") geophysical surveys in the Company's Fernley Sink target area of the Lithium Creek Project (the "Project") located in Churchill County, Nevada. These surveys will provide critical data for detailed drill hole targeting to test the Company's promising new discovery of what may be the only viable lithium brine district outside of Clayton Valley. This will support the on-going expanded lithium brine exploration, providing targets for the maiden drilling program at the Project.

The Company expects to report final geophysical results and approximate drill targets once all surveys are completed and all data are compiled and interpreted.

Permitting will commence following the Company's selection of drill sites.

* Gravity surveying is a passive geophysical method that measures small variations in the Earth's gravitational field to infer subsurface density contrasts. It does not require an artificial energy source; instead, a highly sensitive gravimeter detects differences in gravitational acceleration that result from changes in rock and sediment density beneath the surface. These variations help identify geological structures such as sedimentary basin geometry and fault structures.

Gravity surveys are effective for mapping density variations at depths ranging from near-surface to several kilometers, depending on the scale of the anomaly and the density contrast of lithologies. While the vertical resolution is generally lower than electromagnetic or seismic methods, the technique offers excellent lateral resolution and is particularly useful in identifying broad structural trends and delineating large-scale geologic features.

A gravity survey field crew typically includes two to three people, equipped with a gravimeter, GPS system, and data logger. Surveys are often conducted on foot or with a lightweight vehicle, making gravity methods highly portable and minimally invasive. This makes them ideal for regional reconnaissance, remote terrain, and environmentally sensitive areas where larger-scale geophysical setups are impractical.

** Hybrid-source Audio-frequency Magnetotellurics (HSAMT) is a type of electromagnetic (EM) surveying that combines natural-source magnetotelluric (MT) signals with a portable, controlled-source transmitter typically placed near the receiver in the near field. This hybrid approach enhances signal strength and data quality in environments where natural-source signals are weak or inconsistent. Unlike early CSAMT methods, HSAMT does not rely on far-field transmitter placement, allowing for greater flexibility and reduced logistical complexity in the field.

HSAMT is effective for mapping the subsurface in the 20 to 1,000-meter depth range. Vertical resolution generally ranges from 5 to 20% of the investigation depth. As with other EM methods, the depth of investigation depends on the frequency of the transmitted signal and the resistivity of the subsurface: lower frequencies and higher resistivity tend to yield deeper penetration.

A HSAMT field crew typically consists of three to four people and requires only one vehicle, as the transmitter and receiver are often co-located or placed within a short distance of each other. This makes HSAMT particularly well-suited for surveys in rugged terrain or areas where deploying long transmitter-receiver offsets is impractical.

About Apex Resources Inc.

Apex is a mineral exploration company engaged in the business of the acquisition, exploration and development of mineral resource properties.

The Company's Lithium Creek Project is located 70 km east of Reno, Nevada. The Project is a new, district scale exploration project that has never been systemically explored or drill tested for lithium brines. The Project covers approximately 8,240 acres and adjacent lands within the laterally extensive Fernley and Carson Sinks. These sinks have large expansive playas and lay within large hydrographic basins with a combined area of approximately 1.4 million-acres.

The Project is located within 30 minutes of the Nevada lithium battery hub of the Tahoe-Reno Industrial Center ("TRIC") via Interstate Highway I-80, and is ideally located and supported by extensive infrastructure to include existing roads, railroad access, fiber optics and geothermal power. TRIC is a privately owned 107,000-acre (167 sq mi; 430 km2) industrial park, located in Storey County, east of Reno, Nevada. The center is the largest in the United States (third largest in the world) and is home to more than a hundred companies and their warehouse logistics centers and fulfillment centers such as PetSmart, Home Depot, Walmart and others. The Gigafactory Nevada was built there to serve Tesla, Inc. and Panasonic.

The technical information in this news release, prepared in accordance with Canadian National Instrument 43-101 standards, has been reviewed and approved by Geoffrey Baldwin (PG), (SME-RM), a Qualified Person, who is independent of Apex.

On Behalf of the Board of Directors of
Apex Resources Inc.
Ron Lang,
President & CEO

Ph. +1(250) 212-7119 or info@apxresources.com website: www.apxresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-Looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-Looking statements in this news release include, but are not limited to, statements related to the expectation that the HSAMT geophysical surveys will provide data and targets for a maiden drill program at the Project and statements related to the potential of the Fernley Sink target area. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in lithium prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Apex's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249329

FAQ

What is the significance of Apex Resources' (SLMLF) geophysical surveys at Lithium Creek?

The surveys aim to identify drill targets in what could be the only viable lithium brine district outside of Clayton Valley, potentially representing a significant lithium exploration opportunity in Nevada.

What types of geophysical surveys is SLMLF conducting at the Lithium Creek Project?

Apex is conducting two types of surveys: Gravity surveys to measure subsurface density contrasts and Hybrid-Source Audio-Frequency Magnetotelluric (HSAMT) surveys for electromagnetic mapping.

When will SLMLF begin drilling at the Lithium Creek Project?

Drilling will commence after the completion of geophysical surveys, data interpretation, and obtaining necessary permits. The specific timeline was not disclosed in the announcement.

Where is Apex Resources' (SLMLF) Lithium Creek Project located?

The Lithium Creek Project is located in Churchill County, Nevada, specifically in the Fernley Sink target area.

What is the depth range of SLMLF's HSAMT survey at Lithium Creek?

The HSAMT survey is effective for mapping the subsurface in the 20 to 1,000-meter depth range, with vertical resolution typically ranging from 5 to 20% of the investigation depth.