The board of Rex Minerals Ltd. has resolved to dissolve the Advisory Board with the completion of its core objectives and the associated results from the Extended Feasibility Study (EFS). As a result the Advisory Board Chairman Mr. Steven Olsen has resigned from his position as the Chair of the Advisory Board. In addition, Mr. Steven Olsen has resigned from the Rex Board.

The Rex Board of has also accepted the resignation of Mr. Olsen as a director of Rex Minerals. Mr. Olsen was the founding Managing Director for Rex, which first joined the official list of the ASX in late 2007. He was the Managing Director for the Company for a period of five years, which took the company through the discovery of the Hillside Project and the definition of one of Australia's large new copper Mineral Resources at Hillside.

Mr. Olsen remained as a director and subsequently became more heavily involved with the Hillside Project with his appointment as Chair of the Advisory Board.