RareX Limited provided an update on ongoing drilling activities at the Trundle Gold-Copper Project Joint Venture Project, located in the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia. The Trundle Project is a 35% /65% joint venture between RareX and Kincora Copper Ltd. (Kincora) (TSXV: KCC). Trundle Park prospect As outlined in the 21 December 2020 release, hole TRDD011 intersected intense structurally controlled mineralization hosted within near surface skarn alteration with further positive visual indications reported from TRDD012, a step back to the south-east from TRDD011. Assay results from nearer surface intervals for TRDD011 (to 102m of 332m ­ see Table 1) and TRDD012 (to 202m of 581m ­ see Table 2) have been received. Highlights include: TRDD011: 74m @ 0.40% copper and 0.37 g/t gold from surface including: 42m @ 0.64% copper and 0.58 g/t gold from 32m including: 14m @ 1.69% copper and 1.39 g/t gold from 58m including: 4m @ 4.98% copper and 3.36 g/t gold from 68m; TRDD012: 29m @ 0.10% copper and 0.18 g/t gold from 191m including: 2m @ 0.87% copper and 0.05 g/t gold from 195m; and, 1m @ 0.09% copper and 1.17 g/t gold from 204m. TRDD011 extended the mineralised skarn horizon to the northwest of TRDD001 (previously reported 51m @ 0.54% copper and 1.17g/t gold from 39m) and TRDD012 was a 50m step out to the south from TRDD001 (Figure 3). TRDD012 has provided encouragement and vectors for the targeted causative porphyry intrusion system source with observations of: primary bornite and chalcopyrite within quartz veins occurring in an interval of volcaniclastic rocks from 160m to 210m down hole which are the best primary bornite and chalcopyrite veining intersected to date at the Trundle project; observations of discrete monzodiorite intrusions from 275m to 340m down hole depth, and coarse primary molybdenum within a quartz vein at 314m down hole depth (assay results pending); and, four well developed and broad skarn horizons identified commencing from the surface (noting dilution in reported intervals from core loss) and extending deep down hole (assay results pending). Recent drilling in the central Trundle Park prospect area is providing significant encouragement to the lateral and thickness potential of the skarn horizons and vectors for both the skarn mineralised system but also towards targeting a large and potentially related porphyry intrusion system. Hole TRDD015 has recently commenced to the southeast along the fence of TRDD001, TRDD011 and TRDD012 seeking to test both the skarn and interpreted causative intrusive targets and the current working geological model. The average depth of prior explorer drilling at the Trundle Park prospect is 28m, with only two diamond core drill holes completed to moderate depths. Our deeper diamond core drilling activities are resulting in a significantly improved understanding of the bedding direction hosting the skarn horizons, along with key structures/faulting and the identified multiple phases of mineralization within the skarn, all supporting a substantial mineralizing event and provide further vectors to the targeted causative intrusion system. These recent drill results, relogging of core and review of geophysical inversions have provided the confidence to mobilise a second drill rig, concurrent with operations re-commencing after a short holiday break over the holiday season on 4 January 2021.