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The Company is focused on the discovery and development of large polymetallic porphyry copper deposits in North America - an area that host numerous world class polymetallic porphyry copper deposits.

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Message: ExGen Enters Into Period of Exclusive Negotiations for Empire

CALGARY, AB--(Marketwired - February 26, 2015) -

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ExGen Resources Inc. (TSX VENTURE: EXG) (OTC PINK: BXXRF) (the "Company", or "ExGen") is pleased to announce that the Company has entered into an agreement for a period of exclusivity with Phoenix Global Mining Ltd, a private British Virgin Islands based mining company focussed on base metals development ("Phoenix"). The exclusivity period will last until the execution of a definitive earn-in agreement, or May 21, 2015, whichever is earlier. The exclusivity agreement is an initial step toward an agreement to form a joint venture on the Empire Mine Project. Under the terms of the exclusivity agreement, ExGen agrees not to invite or facilitate any discussions with third parties with respect to the Empire Mine Project.

"ExGen is pleased to have attracted the interest of Phoenix, which is helmed by an experienced management team that has a track record of successfully financing, constructing, commissioning and operating new mines, with over 30 years of history in the mining business," stated Jason Riley, President and CEO of ExGen. "Our discussions with Phoenix have advanced to the stage where Phoenix requested an exclusive period to negotiate and document the final terms of a potential joint venture."

There is no assurance that the joint venture will be successfully concluded. In addition, the final joint venture agreement will be subject to approval of the boards of directors of ExGen and Phoenix, and the applicable regulatory authorities.

About ExGen Resources Inc.

ExGen Resources Inc., formerly Boxxer Gold Corp, is a project incubator with a strategy to aggregate projects during the current market downturn and then fund exploration through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. The company intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US.

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