ESSEX ANNOUNCES CLOSING OF PRIVATE PLACEMENT FOR $880,000

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH A U.S. NEWSWIRE SERVICE/

VANCOUVER, BC, Oct. 20, 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 21, 2022, it has closed the final tranche of its non-brokered private placement (the "Financing"), raising an aggregate of $880,000 in gross proceeds through the issuance of 44,000,000 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.