GLOBAL MININGINVESTMENT CONFERENCE 2010

STATIONERS’ HALL ● CITY OF LONDON ● TUESDAY-WEDNESDAY, 28-29 SEP 2010

www.ObjectiveCapitalConferences.com

Investment Conferences

Gold & Silver Production in North AmericaMurray Nye – CEO, RX Exploration Inc.

DAY 1 - SESSION 3: PRECIOUS METALS SECTOR

Other sponsors & participating organisations:

GLOBAL MININGINVESTMENT CONFERENCE 2010

Lead sponsors:

Media partners:

September 2010

Safe HarbourThe 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.

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High Grade Gold and Silver Producer– Cash flow positive, no debt, no gold or silver hedge

– High-grade gold and silver production from the Drumlummon Mine in Montana US (100% owned).

– Mine opened in May 2010, forecasted production of 15,000 ounces gold equivalent to December 2010.

– Expected production in 2011 of 50,000 ounces of gold equivalent.

– Fully permitted 1,000 ton per day mill leased by RX currently operating at 180 tons per day, ramping up through 450 tons per day in Q1 2011.

– Goal is to increase production beyond 1,000 tons per day mine and mill rate

– Aggressive exploration drill program has identified multiple gold and silver veins on the property.

– Current NI 43-101 resource of 70,703 ounces Au and 1,915,560 ounces Ag (September 2009).

• NI 43-101 resource: 155,518 tonnes grading 15.6 grams per tonne Au, and 422 grams per tonne silver

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Marysville, Montana is located 25 miles North-West of Helena, Montana’s capital city.

Contact Mill, Philipsburg, 114 miles by road southwest from Marysville

Location of Mine and Mill

Drumlummon Mine

Phillipsburg Mill

Helena

6

USA

- Year round access by paved roads- Grid power at mine and mill- $15 million spent in past two years opening mine.

Marysville, MT

Drumlummon Mine

Patented Ground

Staked Claims

1 km

N

Bald Butte Mine

The property consists of 48 patented mining claims and 132 staked claims totaling 2,680 acres

Drumlummon: Property Map

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Drumlummon Vein

Frankie Vein

North Star Vein

400 Level Adit

Empire Vein

N

500 metres

Charly VeinD Block

Xmas Vein

St Louis Vein

9-hr Workings

Castletown Vein

Drumlummon: Known Veins

1884 1892 1900 1908 1916 1924 1932 1940 1948 1956 1964 1972 1980 1988 1996 20040

200

400

600

800

1000

1200

1400

History of the Drumlummon Mine

1876: Drumlummon deposit discovered by Thomas Cruse.

1883 - 1910: Montana Co. puts mine into production with two shafts and 25 miles of drifts down to 1,600 foot level. Loses claim dispute in 1901 and floods mine.

1910: Montana Co. loses claim dispute. Closes mine.

1910 - 1929: St Louis Company achieves minor production.

1941 - 1951: Montana Rainbow Co. restarts production in 1946. Mill burns down.

2007: RX consolidates all land claims, initiates surface drilling, completes NI 43-101 report. Begins underground rehabilitation of old workings on 400 foot level.

2008: Charly Vein system discovered

2010: RX reopens the mine

35,68

5 oz A

u

388,3

75 oz

Ag

775,0

00 oz

Au eq

26,45

3 oz A

u

140,3

93 oz

Ag

21,28

4 oz A

u

138,7

73 oz

Ag

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Price of gold in USD

Development Progress 2009 - 2010

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Press Release Date

March 2009 Water discharge permit granted by Montana DEQ, completing necessary permits for mining.

December 2009 Water treatment plant commissioned. Dewatering of mine begins.

April 2010 Ramp accesses Charly vein system. Samples include 2.3 metres of 107.2 grams per tonne gold and 1,904 grams per tonne silver

May 2010 RX leases gravity floatation mill – Starts production at 90 tons per day

July 2010 June production of 1,206 ounces of gold and 33,717 ounces of silver (90-180 tons per day)

August 2010 July production of 1,378 ounces gold and 20,981 ounces of silver (182 tons per day)

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Development Progress (cont.)

Today - 400 level haulage drifts and ramps fully operational for mining – over 500 ton per day ore and waste capacity

By September 2010, 18,432 metres of drilling and three hanging wall drill stations completed

Water pump/treatment plant dewatering mine at 100 ft depth per month. Mine currently dewatered to below 600 level.

Charly Vein

Milling Progress

Existing mill 114 miles from mine accessible by paved highway ($20.50 per ton hauling cost)

1,000 ton per day capacity in two circuits including crusher, regrind mills, gravity and flotation circuits

1.5 million tons of tailings space currently available at the mill site

$30,000 per month plus per ton milling fee

Operating at 180 tons per day in August (accelerating to 250 tpd in September)

To date RX has processed 10,000 tons of ore from Drumlummon

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Mill Recoveries

− Mill recoveries on gravity circuit: 92%− Mill recoveries on floatation circuit: 90%− Dore bar refinery charge: 1%− Float concentrate smelter charge: 8%

*These numbers are before Net Smelter Return Royalty average at 2%

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Continuous Mining and Milling Schedule

Tons per Day

Tons in Period

Grade Au Eq (opt)

Grade Au Eq (gpt)

Ounces Recovered Ounces*

Sept. 2010 225 4,500 0.40 13.7 1,800 1,489

Q4 2010 270 21,870 0.40 13.7 8,784 7,264

Q1 2011 450 40,500 0.40 13.7 16,200 13,397

Q2 2011 450 40,950 0.40 13.7 16,380 13,546

Items Costs

Mining $70/ton

Milling $55/ton

Transportation $21/ton

Capital Costs: (15 months)Mining - Milling - Drilling -

$4.0 Million$2.0 Million$3.0 Million

* Assumes all recovery, refinery and NSR charges

Selected Drill Results to Date

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Drill Hole From (m) To (m) Width (m) Gold (g/t) Silver (g/t)

Charly Vein

DDH 08-05 119.5 121.4 1.8 37.8 1,081

DDH 08-15 122.9 125.8 2.9 44.1 1,393

DDH 08-26 123.8 125.6 1.8 33.5 350

DDH 08-28 143.2 145.5 2.3 51.8 381

DDH 08-29 1.2 3.6 2.4 9.9 1,821

DDH 09-102 73.2 76.8 3.7 41.1 573

D-Block

DDH 09-111 9.7 16.5 6.8 21.1 58

DDH-10-115 7.0 12.5 5.5 16.7 57

DDH 10-120 4.3 12.3 8.0 19.8 45

DDH-10-123 29.9 32.3 2.4 26.6 317

Exploration – Surface Drilling

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Drill Stations

Company has planned 1,280 metres of drilling from two surface drill pads in Phase I of surface program

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Exploration – Underground Drilling (8,000 metres)

Plan View 800 Level 3 Dimensional View

Company has planned 60 drill holes from drill station #9 - not all shown here - for a total 8,000 metres (Phase 1 & 2)

N

Drill Station #9

Proposed Drill Holes

450’ level Char

ly v

ein

800’ level

Christ

mas

vei

n

Other Property TargetsOnly 5% of property has been explored

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Patented Ground

Staked Claims

1 km

N

Bald Butte Mine

Bald Butte – Surface Drilling

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600 ft level400 ft portal 400 ft level

Albion Vein600 ft portal

Genesse Veins RXBB Site 1

RXBB Site 2 400 ft level

800 ft level 600 ft level

anomalous gold inquartz-flourite brecciaat 1000 ft level

RXBB Site 3

RXBB Site 4

Proposed Drill Site RX EXPLORATION NBALD BUTTE PROJECT

Old Workings DRILL HOLE TARGETSnot to scale

Target Areas 2010

Phase I - 1,250 metres

Exploration Drill Program (Phase I & II)

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− Drilling to be completed in Q1 2011− Phase I & II underground drilling to target Targeting Charly vein, X-

mas vein, Drumlummon vein, and Castleton vein− Phase I surface drilling to target Targeting Empire vein, Drumlummon

North vein and Frankie vein− NI 43-101 report for Drumlummon Mine to be updated in Q1, 2011

Drilling Metres Cost

Phase I Drilling

Underground 4,000 $332,000

Surface 2,530 210,000

Phase II DrillingUnderground 4,000 332,000

Surface 3,470 288,000

Total 14,000 $1,162,000

Permitting and Community RelationsRX has received all permits and exemptions

required for production:

o Approval of exploration license including water discharge by the Montana Department of Environmental Quality

o Approval of small miner exemption which permits the company to mine so long as surface operations do not exceed five acres

o Approval of the alternative mine rescue capabilities by the U.S. Mine Safety and Health Administration

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o Approval of the ventilation, escape and evacuation plan by the U.S. Mine Safety and Health Administration

RX has been conducting regular Town Hall meetings to encourage community involvement and has addressed all of the concerns of the people of Marysville

The RX Exploration Team

Management

CEO: Murray Nye – Co-founder, director, principal of Venbanc, Inc., an investment and merchant bank specializing in the structuring and financing of start-up companies; provides follow-up financial and management advisory assistance.

CFO: Max Polinsky, B.Comm – Co-founder, director and principal of Venbanc, Inc.

Director of Mining Operations: Mike Gunsinger – Mike was employed for 40 years by Patrick Harrison and Co., underground mining contractor, servicing major mining companies such as Inco and Noranda, and the US Military. Established his own underground contracting company and has been active in Utah and Montana.

Consulting Mine Geologist: Ben Porterfield – Ben leads a team of geologists at the Drumlummon mine. He was formerly a geologist for Kennecott, focused on their Terra gold project in Alaska.

Board of Directors John O’Donnell (B.A. Econ, L.L.B.) ChairmanMurray Nye Max PolinskyBill Fisher (P.Geo.) Former Chairman, Aurelian Resources and VP Exploration, Boliden Ltd.John Ryan (CGA) President, Spruce Ridge ResourcesEdward Ellwood (MBA) Management ConsultantPaul Teodorovici Property Management Consultant

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Share Capital

RX Exploration was recently listed on the TSX Venture Exchange and began trading on August 4th, 2010.

Listing TSX-V

Symbol “RXE”

Recent share price1 CAD $0.55

52 week low–high CAD $0.165–$0.65

Shares outstanding 111.4 million – basic

198 million – fully diluted

Market capitalization CAD $61.3 million

Cash recently raised CAD $7.9 million

Share ownership

RX Management (~20%);

Spruce Ridge Resources (~10%)

Funds (May 2010) Sprott Asset Management

(4.6% basic or ~ 5.1% fully diluted)

1 As of September 14th, 2010

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RX Exploration: Why Invest?

– Cash flow positive, no debt, no metals hedge

– Production of 15,000 ounces gold equivalent in 2010, 50,000 ounces gold equivalent in 2011

– High grade gold and silver with average grade 14 grams per ton gold equivalent

– Aggressive 14,000 metre drilling program to expand 43-101 resource

– Exploration of adjacent properties

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Other sponsors & participating organisations:

GLOBAL MININGINVESTMENT CONFERENCE 2010

Lead sponsors:

Media partners: