Has formed an alliance with Canadian mining house Noranda Inc to hunt for giant porphyry copper-gold deposits in Xinjiang province, western China. Noranda will subscribe for 700,000 new Apex shares at a price of 20 cents each for a consideration of $140,000 taking its holding to 5.7% inclusive of the current 4.% interest held through majority owned Falconbridge (Australia) Pty Ltd.