ESSEX ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT FOR TOTAL OF $819,500

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VANCOUVER, BC, Oct. 11, 2022 /CNW/ - Essex Minerals Inc. (the "Company") (TSXV:ESX.VN) (OTC-BB:ESXMF) is pleased to announce that further to its news release of September 29, 2022, it has closed a second tranche of its non-brokered private placement (the "Financing") for $75,000, bringing the total raised to $819,500 in gross proceeds through the issuance of 40,975,000 units (the "Units") at a price of $0.02 per Unit.  Each Unit consists of one common share and one share purchase warrant, with one whole warrant entitling the holder to purchase one additional common share (a "Warrant Share") of the Company at a purchase price of $0.05 per Warrant Share for a period of 60 months from the date of closing. The Company now anticipates the final tranche closing of the Financing by October 22, 2022.