S A M E X M I N I N G C O R P.
BC FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1: Name and Address of Company
SAMEX Mining Corp.
Suite 900 -900 Howe Street
Vancouver, BC V6Z 2M4
Telephone: (713) 956-5200 ext. 102 Fax: (713) 513-5322
Item 2: Date of Material Change
September 25, 2013
Item 3: News Release
A news release regarding the material change was issued by SAMEX Mining Corp., in Vancouver, BC on September 25, 2013 and was disseminated through the wire services of Marketwired.
Item 4: Summary of Material Change
SAMEX Corporate Update
The Company no longer has the capacity to continue independent exploration at its El Gringo Project and management made the decision to halt exploration and explore strategic alternatives.
Despite management’s efforts, to date, the Company has not been able to identify a suitable strategic alternative. Present Company operations will immediately cease, and the board and senior management have announced their intentions to resign.
| RESIGNING DIRECTORS AND INTERIM OFFICERS | |
| Name | Office |
| Sasan Sadeghpour | Director, Interim Chief Executive Officer |
| Larry McLean | Interim Chief Financial Officer |
| Brenda McLean | Interim Corporate Secretary |
| James Pappas | Director |
| Travis Cocke | Director |
| Patrick Cahill | Director |
Item 5: Full Description of Material Change
As reported by the Company in News Release No. 7-13 dated August 21, 2013, the Company consulted with several geological advisors and determined that the most recently received drill assays from the Company’s El Gringo project did not improve from the results announced on May 30, 2013. Irrespective of these efforts, the Company no longer had the capacity to continue independent exploration at its El Gringo Project and management made the decision to halt exploration and explore strategic alternatives.
Despite management’s efforts, to date, the Company has not been able to identify a suitable strategic alternative. Present Company operations will immediately cease, and the board and senior management have announced their intentions to resign. For the time being, SAMEX continues to be a reporting issuer and remains in good corporate standing under the BCBusiness Corporations Act, and has no material debts or liabilities at the parent level. It remains open to the shareholders or any other interested party, in consultation with their own professional advisers, to take the steps necessary to assume control of SAMEX.
| RESIGNING DIRECTORS AND INTERIM OFFICERS | |
| Name | Office |
| Sasan Sadeghpour | Director, Interim Chief Executive Officer |
| Larry McLean | Interim Chief Financial Officer |
| Brenda McLean | Interim Corporate Secretary |
| James Pappas | Director |
| Travis Cocke | Director |
| Patrick Cahill | Director |
Item 6: Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
This report is not being made on a confidential basis.
Item 7: Omitted Information
There is no omitted information.
Item 8: Executive Officer
To facilitate any necessary follow-up by the Commission, please contact Sasan Sadeghpour, Director, Chairman and Interim CEO of the Issuer at (713) 956-5200, extension 102, who is knowledgeable about the material change.
Item 9: Date of Report
Dated at Houston, Texas, the 25th day of September, 2013.
“Sasan Sadeghpour”
Director, Chairman
and Interim CEO
