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June 2009

Near Term Gold and Silver Production in North America . June 2009. Safe Harbor.

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June 2009

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  1. Near Term Gold and Silver Production in North America June 2009

  2. Safe Harbor The following presentation may include certain “forward-looking statements” within the meaning of the United States Private Litigation Reform Act of 1995 and applicable Canadian Securities Laws. All statements, other than statements of historical fact, included in the presentation, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of RX Exploration Inc., are forward-looking statements. Words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe” and other similar expressions are forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather reflect our current views with respect to future events and are subject to risks, uncertainties, assumptions and other factors, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that such forward-looking statements will prove to be accurate. Some of the important factors that could cause actual results to differ materially from our expectations are disclosed under the heading “Risk Factors” and elsewhere in documents filed from time to time with the Canadian provincial securities regulators. We base our forward-looking statements on information currently available to us and we do not assume any obligation to update them, except as required by law. An additional Cautionary Note to Investors – In the event that we use certain terms in this presentation, such as “resource”, “measured resource”, “indicated resource” and “inferred resource”. U.S investors are cautioned that, while such terms are recognized and required by Canadian Securities Laws, the United States Securities and Exchange Commission does not recognize them. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination has been made. U.S. investors should not assume that all or any part of measured or indicated resources will ever be converted into reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Accordingly, information concerning descriptions of mineralization in this presentation may not be comparable to information made public by companies that are subject to the SEC’s Industry Guide 7.

  3. Share Capital The company will be applying for listing on the TSX Venture Exchange. All of the company’s filings are current. 1 As of June 11, 2009

  4. Drumlummon Gold Project Marysville, Montana Drumlummon Mine, Late 1800’s

  5. The Drumlummon Mine, Marysville, Montana MONTANA Marysville, Montana is located 25 miles Northwest of Helena, Montana’s capital city. Lewis and Clark County Lincoln Marysville Helena

  6. History of the Drumlummon Mine The well documented history of the Dumlummon mine provides RX with detailed information including historic resources, assay maps, and historic drill plans. RX continues to leverage this information to guide its exploration program. *$16mm of production was at a gold price of $20.67 per ounce.

  7. Strike of Drumlummon Veins. Area remains open (“blue sky”) Drumlummon Mine Property Map The property consists of 26 patented mining claims (290 acres) and 68 staked claims (1,390 acres).

  8. 2008 Progress • RX completed rehabilitation of 400 level to the ‘Previously Disputed Ground’. • 5 underground drill stations completed. • 59 holes drilled totaling of 25,959 feet. • Discovery of three new high grade gold and silver veins in the hanging wall of the mine and completion of a 43-101 resource estimation on new veins. • Confirmation of historical resource of gold and silver in areas of past producing mine and in some cases improvement of grade (multi ounce per ton). • ‘Previously Disputed Ground’ opened and can now be drill tested. • RX received all necessary permits and exemptions by the State of Montana and the U.S. Department of Labor for the Drumlummon mine to continue exploration and surface/underground development. (See Appendix #2)

  9. Drumlummon Mine Property Map The veins on the property are accessed by the mine’s existing underground workings.

  10. Historical Facts & 2008 Progress in Context • There is excellent potential for additional high grade gold and silver discoveries at the Drumlummon mine (historic resources plus new resource is greater than 600,000 ounces of gold equivalent at a grade of 0.5 ounces of gold equivalent). • Company’s target is 3 million ounces of gold in ore grading greater than 0.3 ounces per ton gold equivalent. Virgin veins have the potential to grade multi ounces of gold per ton in the ‘Previously Disputed Ground’. • When the Drumlummon mine was previously in production, gold prices were near historical lows of approximately $20 per ounce. Miners focused on extremely high grade mineralization, generally above 1 ounce per ton. Miners always drove drifts on ore. • Any ore believed to fall below a 1 ounce per ton cutoff grade or that contained high silver content was left behind. • Drilling has discovered three new veins of high grade gold and silver in the hanging wall of the mine showing past production simply followed the high grade sections of known veins from the 200 level down to the 1600 level. • Drilling to date has confirmed historical resource in Block ‘D’ and returned some very high grades of up to 2.53 ounces per ton gold and 101.24 ounces per ton silver. • The ‘previously disputed ground’, now owned by RX, was fought over for many years indicating that grades and tonnage in this area were of particular interest but it was never mined. RX is now able to access and drill the ‘previously disputed ground’ along historic and newly discovered veins.

  11. Underground Workings – Longitudinal Section RX’s exploration targets can be split into five distinct areas: Drumlummon Workings • Xmas Vein • Previously Disputed Ground • 9 Hour Workings • Charly Vein RX’s first phase of drilling was focused on the ‘D’ Block of the Drumlummon Workings South North 9 Hour Workings Surface Drumlummon Workings Surface Setup 400 Level 700 Level 1000 Level Previously Disputed Ground Xmas Vein Shaft No.1 Shaft No.2 1600 Level

  12. Highlighted ‘D’ Block Drill Results 59 holes (25,959 feet) were drilled targeting 3 veins in the ‘D’ Block. Drilling was successful and this small area added 95,240 inferred ounces of gold equivalent to the historic resource.

  13. Charly Veins (‘D’ Block 400 E veins, A,B,C) A Vein C Vein B Vein

  14. Mineral Resource Estimates • 59 drill holes have been completed in order to develop a preliminary 43-101 compliant resource estimate. • Inferred mineral resources were calculated over the newly discovered Charly veins, which indicate very strong continuity. • The new resource estimate is 43-101 compliant and focuses on ‘D’ Block, an area between Shafts No. 1 and No. 2 that begins above the 400 level and continues below the 700 foot level. • A cutoff mining width of 5 feet was used, along with a minimum grade of 0.1 ounce per ton. • Despite the continuity, calculations are considered inferred and infill drilling is required to bump these resources to reserve status. • Several highly prospective targets remain with excellent high grade and high tonnage potential: • Xmas Vein • Previously Disputed Ground • Nine Hour Workings

  15. Historic Resource Vs. New Resource: Goldsil Mining completed a resource calculation in 1985 of 515,000 ounces of gold equivalent. Although the historic resource is not 43-101 compliant, drilling may bring this historic resource to 43-101 standards while continuing to add incremental ounces. Source: P. Towndrow (Mining and Metallurgical Consultant and Project Manager for Goldsil’s Marysville Project 7/80 to 7/84)

  16. 43-101 Interpretation & Conclusions • Testing of areas on the 800 level down dip from the Xmas vein (where Wade mined before his mill burned down) is recommended and potential for grade and tonnage in this area is considered excellent. RX can now drill this area. • Testing of the ‘Previously Disputed Area’ between shaft #2 and the 9 hour workings beneath the 400 level to beneath the 1600 level has the best potential to develop precious metal resources. RX can now drill the ‘Previously Disputed Ground’. As this area is considered prime ground, drilling success could more than double the anticipated tonnage and gold equivalent ounces. • Past recommendations (Ropes, 1935) encouraged testing at the north end of the 400 level (currently known as the ‘A’ & ‘B’ blocks being drilled from surface) as this area was never tested due to divided ownership. • Blocks ‘A’ and ‘B’ were drilled after the completion of the NI 43-101 document and are therefore not included in the resource calculation. Tonnage potential in this area is high. • Other underdeveloped sections beneath and south of the 9 hour workings are considered optimal areas to develop grade and width of precious metal mineralization. • The Company believes that ramp development at the north end to the 600 foot level combined with drilling from station 7 maximizes resource development. The ramp is expected to produce a minimum 200 tons per day grading 0.5 ounces per ton from the Charly vein once completed

  17. June July Aug Sept Oct Nov Dec Jan Feb Mar Cost $300,000 Water Treatment Plant $600,000 New Portal On Surface $2,000,000 Drive 1,900 Foot Decline $120,000 Services & Electricity $120,000 Water Discharge Line $3,140,000 TOTAL Ramp Development & Budget

  18. Management Team John O’Donnell is the Chairman of the Board and has been instrumental in the overall transformation of the Company. He has practiced law in the City of Toronto since 1973 where he is engaged primarily in the field of corporate and securities law. He is and has been counsel to several publicly traded companies, including many mineral exploration companies. John is currently a director of Gold Reef International, Inc., a company which he founded and now has extensive exploration activities in Nevada, including a joint venture with Newmont. John has a BA in Economics and a Bachelor of Laws from the University of Windsor. Murray Nye is the Chief Executive Officer, Chief Financial Officer and a Director of the Company. Mr. Nye is a director and principal of Venbanc, Inc., an investment and merchant bank located in Winnipeg, Canada that he founded with a partner in 1994. He also serves as Chief Executive Officer and Director of ATSI Communications Inc. and is a Director of Clifton Mining and XPEL Technologies Corp. Mike Gunsinger is the Director of Underground Operation for RX Exploration. He was employed for 40 years by Patrick Harrison and Co., underground mining contractor, the clients of which include major mining companies such as Inco and Noranda and the US Military. Upon retirement, Mr. Gunsinger established his own underground contracting company and has been involved in several projects in Utah and Montana for Kennecott, Clifton Mining, and Hanover Gold. Timothy Beesley has been actively involved in mineral exploration in Canada, Australia and South America for over 30 years. He founded his own consulting company, T.J. Beesley Geological Services Inc., in 1986. Since that time he has acted on behalf of senior and junior mining companies and consortiums in the exploration for and evaluation of several mineral properties around the world. Mr. Beesley has an M.S. in geology from the University of Colorado.

  19. 500-220 Bay Street Toronto, OntarioCanadaM5J 2W4 T: (416) 367-1930 Ext 222 F: (416) 365-1813

  20. Appendix #1: Drumlummon Historic Resource Calculation • The Drumlummon mine has a historic resource : *Equivalent based on commodity prices of November, 2008.

  21. Appendix #2: Production Permitting • RX has received all permits and exemptions required for production: • Approval of exploration license including water discharge permit by the Montana Department of Environmental Quality • Approval of small miner exemption which permits the company to mine so long as surface operations do not exceed five acres • Approval of the alternative mine rescue capabilities by the U.S. Mine Safety and Health Administration • Approval of the ventilation, escape and evacuation plan by the U.S. Mine Safety and Health Administration

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