Apex Resources Group Announces Appointment of New Director and Updates of Pipeline Project

SALT LAKE CITY, Aug. 27 — Apex Resources Group, Inc. (OTC Bulletin Board: APXR) announces the appointment of Mr. Rafiq Chinoy to the Board of Directors.

Mr. Chinoy has a College Degree from Mukalla, South Yemen and migrated to Canada in the 1980’s. Mr. Chinoy owns and operates a Corporate Travel business in Vancouver, B.C. Mr. Chinoy is a Private Investor and will be instrumental in negotiating Private Placement funding for the Company. <>
The Mackenzie Valley Pipeline Project received a recent shot in the arm with the Canadian Government announcement that former Indian and Northern Affairs Minister Jim Prentice will continue to work on the Mackenzie Valley Pipeline file. A recent Cabinet shuffle in the Canadian Government moved Mr. Prentice to the Industry Portfolio but his background, knowledge and working relationship with all levels of negotiators regarding the proposed Mackenzie Valley Pipeline makes him the right person to help proceedings. Apex Resources is extremely pleased with this announcement.

Apex Resources Group Inc. owns 3.745% working interest in the Itiyok 1-27 Well in the Beaufort Sea and the completion of the Mackenzie Valley Pipeline will bring these massive reserves to the marketplace.

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The Itiyok 1-27 Well was originally drilled in 1983, at a total cost of CAD$85 million. A review of Well data and geological prognosis indicates that a 640 acre area would contain proven recoverable gas reserves of 108 Bscf and proven recoverable oil reserves of 8,976 MSTB, with Apex Resources Group Inc. 3.745 % working interest net reserves of 4.04 Bscf and 336 MSTB. Seismic data indicates a structure closure of approximately 40 square KM with a gross potential reserve of 1.16 TCF and 160 MMSTB (Apex 3.745 % working interest net — 34 Bscf and 4.7 MMSTB). The lands in which the Apex Resources Group Inc. owns an interest comprised of 21.54 square KM containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil Apex 3.745 % working interest net — 23.4 Bscf of gas and 3.2 MMSTB of oil). Values of proven, probable and possible gas and oil reserves, of Apex 3.745 % working interests, as per Citadel Engineering report, have been published in previous news releases.

At current oil & gas market prices, the Apex 3.745% working interest in the Itiyok 1-27 well in the Beaufort Sea is valued as follows:

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