William Feyerabend Brings Extensive Lithium Brine Expertise to Apex

Rhea-AI Summary

Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) has appointed William (Bill) Feyerabend as Senior Advisor. Feyerabend is a Certified Professional Geologist with extensive experience in lithium brine projects across Nevada, California, Utah, and Argentina. He has authored over 45 technical reports across six countries and specializes in Nevada's Clayton and Fish Lake Valleys.

The company also announced a non-brokered private placement to raise up to $750,000 by offering 15,000,000 units at $0.05 per unit. Each unit includes one common share and one warrant exercisable at $0.10 for two years. The warrant expiry can accelerate if shares trade at or above $0.20 for 10 consecutive days. Proceeds will fund company projects and working capital. Directors and officers may participate in the financing, which requires TSX Venture Exchange approval.

Positive

• Appointment of experienced lithium expert William Feyerabend strengthens technical team
• Potential to raise $750,000 through private placement financing

Negative

• Significant dilution risk through issuance of 15 million new units
• Low unit pricing at $0.05 indicates potential undervaluation or market weakness

Vancouver, British Columbia--(Newsfile Corp. - January 3, 2025) - Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) ("Apex" or the "Company") is pleased to announce that William (Bill) Feyerabend, an accomplished geologist, joins the Company as Senior Advisor.

Mr. Feyerabend is a Certified Professional Geologist with extensive experience in generating, exploring and developing lithium brine projects in Nevada, California, Utah, and Argentina. He has authored over 45 technical reports for properties across six countries on four continents, including claim blocks in Nevada's Lithium development epicentre, the Clayton and Fish Lake Valleys. His expertise in lithium exploration began in 2015, with a specific focus on Esmeralda County, Nevada and especially Clayton Valley.

Mr. Feyerabend also serves as a Qualified Person for lithium projects, held positions with US Borax and Gold Fields Mining which gave him the discovery and development experience that has served through four significant mineral projects. Mr. Feyerabend has worked at every level, from property examination and regional planning to discovery and development, and continued exploration on producing properties.

Ron Lang, CEO of Apex, commented, "Bill's extensive experience with and knowledge of lithium brine projects, especially in Nevada, make him a great addition to the Apex team. We look forward to his contributions as we remain collectively focused on delivering value for our shareholders and other stakeholders while executing our strategy at our Lithium Creek Project."

Other Corporate Update:

The Company plans to complete a non-brokered private placement financing of up to 15,000,000 units at a price of $0.05 per unit (the "Unit") for gross proceeds of up to $750,000 (the "Financing"). Each Unit is comprised of one Apex common share and one share purchase warrant (the "Warrant"). Each Warrant will be exercisable to acquire one Apex common share at an exercise price of $0.10. The Warrants will have an expiry date of two years from the date of issue (the "Expiry Date"). If at any time prior to the Expiry Date, the Company's common shares trade at or above a price of $0.20 per common share on the TSX Venture Exchange (the "Exchange") for a period of 10 consecutive trading days commencing four months plus one day after the issue date, the Company may, at its option, accelerate the Expiry Date by issuing a press release announcing such acceleration (the "Acceleration Press Release"), and, in such case, the Expiry Date shall be deemed to be the 30th day following the date of issuance of the Acceleration Press Release.

Proceeds from the Financing will be used to fund the Company's projects and for general working capital purposes. The Company reserves the right to accept additional funds, subject to regulatory approval, should the Financing be oversubscribed.

Directors and officers of the Company may acquire securities under the Financing, which participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

The Financing is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month and one day hold period from the closing date.

About Apex Resources Inc.

Apex is a mineral exploration company engaged in the business of the acquisition, exploration and development of mineral resource properties. Apex's common shares trade under the symbol "APX" on the TSX-V & "SLMLF" on the OTC Pink.

Apex has an option to acquire the Lithium Creek Project (the "Project") 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 8240 acres and adjacent lands within the aerially 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.

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. 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 metal prices; uncertainties related to raising sufficient financing to fund exploration 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 Project; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in conducting work programs; 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/235929

FAQ

What is the size and price of Apex Resources (SLMLF) private placement announced in January 2025?

Apex Resources announced a private placement of up to 15,000,000 units at $0.05 per unit to raise up to $750,000.

What are the terms of SLMLF's warrant acceleration clause announced in January 2025?

The warrant expiry can accelerate if shares trade at or above $0.20 for 10 consecutive days, with expiry occurring 30 days after the acceleration announcement.

What is William Feyerabend's role and experience at Apex Resources (SLMLF)?

William Feyerabend joined as Senior Advisor, bringing expertise in lithium brine projects with experience in Nevada, California, Utah, and Argentina, having authored over 45 technical reports.

What are the terms of the warrants in SLMLF's January 2025 private placement?

Each warrant is exercisable at $0.10 per share for a period of two years from the issue date.