ExGen Provides Update on Timing of Filing of Annual Financials

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, April 28, 2020 (GLOBE NEWSWIRE) — ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen” or the “Corporation”) announces that due to logistics and delays caused by the COVID-19 virus, it is relying on the exemption ‎provided in BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (the “BC Instrument”) of the British Columbia Securities Commission (and similar exemptions ‎provided by the securities commissions in Alberta and Ontario) to postpone the filing of the ‎following continuous disclosure documents (collectively the “Documents”):

the Corporation’s Annual Audited Financial Statements for the year ended December ‎‎31, 2019, as required by section 4.2 of National Instrument 51-102 – Continuous Disclosure ‎Obligations (“NI 51-102”);‎ and

the Corporation’s Management Discussion & Analysis for the year ended December ‎‎31, 2019, as required by section 5.1(2) of NI 51-102.

According to the BC Instrument, during the period from March 23, 2020 to June 1, 2020, a person or ‎company required to make certain filings as described in the BC Instrument has an additional 45 ‎days from the deadline otherwise applicable under British Columbia securities laws to make the filing. ExGen expects to file the Documents by no later than May 29, 2020.‎

Until the ‎Corporation has filed the Documents, members of the Corporation’s management and other insiders are subject to an insider trading black-out period as per its internal Insider Trading Policy that is consistent with the principles in Section 9 of National Policy 11-207 – Failure-to-File ‎Cease Trade Orders and Revocations in Multiple Jurisdictions.

ExGen confirms that, other than disclosed in prior news releases, there have been no material business developments since the filing on November 27, 2019 of the Corporation’s latest ‎interim financial reports for the period ended September 30, 2019‎.

About ExGen Resources Inc.

ExGen, formerly Boxxer Gold Corp, is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US.

For more information on ExGen please contact ExGen Resources Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the filing of the Documents, including the timing for the filing of the Documents. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects ExGen’s current beliefs and is based on information currently available to ExGen and on assumptions ExGen believes are reasonable. These assumptions include, but are not limited to: the ability of ExGen to complete the Documents in the noted timeframe. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of ExGen to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, ‎affecting ExGen; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; and risks ‎related to COVID-19 including various recommendations, orders and measures of governmental authorities to ‎try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, ‎quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, ‎financing, supply chains and sales channels, and a deterioration of general economic conditions including a ‎possible national or global recession. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in ExGen’s disclosure documents on the SEDAR website at www.sedar.com. Although ExGen has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of ExGen as of the date of this news release and, accordingly, is subject to change after such date. However, ExGen expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.