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ASX Release : 29 October 2021 ASX : RXM | OTCQB : RXRLF REX Minerals Ltd ABN 12 124 960 523 Quarterly Activities Report for the period ended 30 September 2021 T 1300 822 161 ( Australia ) T +61 3 9068 3077 ( International ) P PO Box 3435 Rundle Mall South Australia 5000 E rex@rexminerals.com.au W www.rexminerals.com.au Rex Minerals Highlights The quarter in review , leading into the current quarter , has been an active period for Rex Minerals , with solid progress being made at Hillside , at Hog Ranch , and at a corporate and financial level . Significantly , we : • Announced yesterday , some excellent ' Coarse Particle Flotation ' results at Hillside . This outcome has presented the Company with an exciting opportunity to increase annual copper production , by increasing mill capacity of the current process plant from 6Mtpa up to 7 - 8Mtpa , whilst maintaining similar copper recoveries . Doubled the Ore Reserves at Hillside , to 988kt of copper and 823kozs of gold . Confirmed the discovery of a new mineralised gold system at Hog Ranch with a third intersection of : 56.4m @ 2.12g / t gold from 54.9m down hole in hole HR21-012 , containing two higher - grade intervals of : O ■ 12.2m @ 3.86g / t gold from 57.9m ; and 4.6m @ 8.61g / t gold from 88.4m . Raised $ 50m , via a two - tranche placement , approved by shareholders at a General Meeting held on 17 September 2021. This was a powerful endorsement of our Hillside development plans and demonstrated the appetite in the Australian equity market to support greenfields copper development . Welcomed new substantial institutional shareholders to the register , during and post the placement . Commenced trading on the US - based OTCQB market , allowing investors in the US to trade in Rex Minerals directly . Presented at Beaver Creek ( Colorado , US ) – for only the second time – to numerous very interested offshore parties . Delivered our 2021 Annual Report , highlighting the many milestones achieved over the previous 12 months . Appointed a new drilling company in Nevada , delaying the start time of our last program for the year at Hog Ranch , with our drill rig now scheduled to arrive on - site on or around 15 November . During the quarter , the CEO and CFO relocated to South Australia to build our team , as well as commencing the early infrastructure and site preparation projects to deliver the next phase of the Hillside Project .