Mining and Corporate Executives to the Board and Management Team

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TORONTO, ONTARIO--(Marketwire - June 6, 2011) -
RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF) announced today that the Special Committee of the Board of Directors has proposed to add highly experienced mining and corporate executives to the Board and management team. The Special Committee consists of four of the six current directors on the Board.


The proposed changes to the Board and management would take place following a meeting of the Board and prior to the Annual and Special Meeting of shareholders scheduled for July 26, 2011. The proposed directors include Hugh Agro, Darren Blasutti, Alex Davidson, Louis Dionne, and Lorie Waisberg. They, along with Paul Parisotto, will form the majority of RXE's nominees for election to the Board at the Annual and Special Meeting.


"This is a significant step towards our pursuit of value creation on behalf of our shareholders," said John F. O'Donnell, Chairman. "Assuming the Board approves the proposals made by the Special Committee, I believe that leadership at both the Board and management levels will be materially strengthened. The addition of individuals with extensive mining and business experience will greatly enhance our slate of director nominees."



The Proposed New Leadership



The proposed new leadership for RXE includes Darren Blasutti, who will become President and Chief Executive Officer, and Lorie Waisberg, who will become Chairman. Mr. Blasutti will replace Murray Nye, currently the President and CEO and a member of a dissident executive group that recently launched a proxy contest to seize control of the Company. Mr. Waisberg will replace Mr. O'Donnell who has agreed to step down as Chairman in the best interests of the Company.


Mr. Blasutti was formerly Senior Vice President of Corporate Development for Barrick Gold Corporation. He played a lead role in the strategic development of Barrick for over 13 years, during which time he executed over 25 gold mining transactions including Homestake Mining, Placer Dome and the consolidation of the world class Cortez property from Rio Tinto.


Mr. Waisberg is a corporate director with experience in the mining sector, and is accredited with the Institute of Corporate Directors. He also served as Executive Vice President, Finance and Administration of Co-Steel Inc., a steel manufacturer, and as a leading corporate and securities lawyer with a major Canadian law firm.


"We believe that RXE has significant potential, and members of the group are making an investment in the company as evidence of our commitment," said Lorie Waisberg. "We look forward to working alongside and on behalf of our fellow shareholders to move RXE forward."


The proposed investment will comprise a non-brokered private placement of up to 5,000,000 units of RXE to Mr. Blasutti and Mr. Waisberg, other proposed directors and to certain institutional investors.


Each unit will consist of one common share of RXE and a share purchase warrant exercisable for a period of two years from the date of issue. The issue price for the units will be $0.456 (the 20 day volume weighted average price). The shares comprising these units will not vote at the upcoming Annual and Special Meeting. The exercise price of the warrants will be $0.60.


In addition, RXE will grant options to purchase 7,200,000 shares of RXE to the new leadership team. One-third of the options will be for a term of two years, with the balance for a term of five years. All options will vest immediately. The strike price will be the RXE closing price of $0.485 on June 3, 2011.



Implementation of Proposals



Implementation will be subject to (1) obtaining the approval of the Board (2) obtaining the approval of the TSX Venture Exchange, and (3) any order of the Ontario Superior Court of Justice or any other court of competent jurisdiction.


After Board approvals Mr. Blasutti will become President and CEO and each of Murray R. Nye, Maxwell A. Polinsky and Harold (Mike) Gunsinger will be terminated.


RXE proposes that the company would nominate eight people for election to continue as directors at the Annual and Special Meeting. Two of the nominees would be John O'Donnell and John Ryan, who are currently directors.


The biographies of other nominees follow:



HUGH AGRO. Mr. Agro is a retired mining executive. Most recently, he was Executive Vice President, Strategic Development at Kinross Gold Corporation responsible for Kinross' growth activities including corporate development and exploration. He has previously held senior executive positions with Placer Dome Canada, Senator Capital Partners and in investment banking with Deutsche Bank's global metal and mining group. Mr. Agro is a director of Victoria Gold Corporation, Chantrell Ventures and Fort Berens Estate Winery.



DARREN BLASUTTI. Mr. Blasutti was formerly Senior Vice President of Corporate Development for Barrick Gold Corporation. He reported to the Chief Executive Officer and played a lead role in the strategic development of Barrick for over 13 years, during which time he executed over 25 gold mining transactions including Homestake Mining, Placer Dome and the consolidation of the world class Cortez property from Rio Tinto. Mr. Blasutti also led the creation of Barrick Energy to hedge Barrick's exposure to energy prices and was integral to the IPO of African Barrick Gold. During his tenure at Barrick, he also led the Investor Relations function. Mr. Blasutti was previously at PricewaterhouseCoopers where he planned, supervised and managed audits for a variety of clients. Mr. Blasutti is a member of the Canadian Institute of Chartered Accountants.



ALEX DAVIDSON. Mr. Davidson was formerly Executive Vice President, Exploration and Corporate Development Barrick Gold, with responsibility for Barrick's international exploration programs and corporate development activities. Mr. Davidson joined Barrick in 1993 as Vice President Exploration with responsibility for Barrick's expanding exploration program. He initiated Barrick's expansion out of North American and into Latin America and beyond. Prior to joining Barrick, Mr. Davidson was Vice President, Exploration for Metall Mining Corporation. Mr. Davidson has over 25 years' experience in designing, implementing and managing gold and base metal exploration and acquisition programs throughout the world. In 2005, Mr. Davidson was presented the A.O. Dufresne Award by the Canadian Institute of Mining, Metallurgy and Petroleum to recognize exceptional achievement and distinguished contributions to mining exploration in Canada. In 2003, Mr. Davidson was named the Prospector of the Year by the Prospectors and Developers Association of Canada in recognition of his team's discovery of the Lagunas Norte Project in the Alto Chicama District, Peru.



LOUIS DIONNE. Mr. Dionne is a mining engineer with over 30 years of experience in the mining industry. Since 2005, Mr. Dionne has been an independent mining consultant. He was President and CEO of Richmont Mines Ltd., a Canadian gold producer from 2002 to 2005. Prior thereto, Mr. Dionne was Senior Vice President, Underground Operations, Barrick Gold. Throughout his career he has provided technical, operations and management support for underground and open-pit operations. Mr. Dionne is a director of Aurizon Mines, Beaufield Resources and Detour Gold.



PAUL PARISOTTO. Mr. Parisotto is the President and CEO of Chantrell Ventures. He was formerly the President and CEO of Arizona Star Resource Corp. From November 2008 to June 2009, Mr. Parisotto was the Co-Interim CEO of Noront Resources and most recently he was the President and CEO of Tamaka Holdings Inc., a private gold exploration and development company. Prior to joining Arizona Star, Mr. Parisotto provided investment banking services to the mining industry. Mr. Parisotto was Manager, Original Listings at The Toronto Stock Exchange from 1985 to 1994. During his tenure at the TSE he was involved in the listing process for over 250 companies.



LORIE WAISBERG. Mr. Waisberg is a corporate director currently serving as a director of Chantrell Ventures, Chemtrade Logistics, Metalex Ventures, Noront Resources, Primary Energy Recycling Corporation and Tembec. Prior to retirement, Mr. Waisberg served as Executive Vice President, Finance and Administration of Co-Steel Inc., a steel manufacturer. Prior thereto, Mr. Waisberg practiced corporate and securities law with a major Canadian law firm. Mr. Waisberg is accredited as ICD.D.



About RX Exploration Inc.



RX Exploration Inc. is a gold exploration company whose strategy is to re-examine gold and silver projects within North America that have previously reached advanced exploration, underground development or past gold or silver production. The Company is currently focused on re-starting production from its Drumlummon Mine, a past producing high-grade, bonanza-type, epithermal underground gold and silver mine in Montana.


The Company's shares are listed on TSX-V (Symbol: RXE) and on the OTCQX (Symbol: RXEXF). There are 160,438,980 common shares issued and outstanding.


On Behalf of the Board,


John F. O'Donnell, Chairman of the Board


John A. Ryan, Chief Financial Officer




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