CULLEN RESOURCES LIMITED — Capital/Financing Update 2022

Apr 26, 2022

RRL1820D

ASX ANNOUNCEMENT

27 April 2022

Outstanding Gold Grades at Mt Fisher - Mt Eureka Project

ROX RESOURCES LIMITED ASX: RXL

Rox Resources Limited (ASX: RXL) is an Australian listed company with advanced gold assets in Western Australia: the Youanmi Gold Project and the Mt Fisher Gold project.

Highlights:

• Exceptional results received from December 2021 drilling campaign. High gold grades intersected across broad widths at the Damsel Prospect. Mineralisation is open down dip and down plunge.

• High-grade results from Mt Fisher (Rox 100%) include:

• MFRC081: 18m @ 6.99g/t Au from 69m, including 10m @ 10.27g/t Au from 74m at the Damsel Prospect

DIRECTORS

Mr Stephen Dennis Chairman

Mr Alex Passmore Managing Director

Dr John Mair Non-Executive Director

Shares on Issue 168.9m Share Price $0.39 Market Cap. $65.9m Cash $6.9m (as at 31 March 22)

Level 2, 87 Colin Street, West Perth WA 6005

• MFRC084: 16m @ 2.58g/t Au from 164m, including 4m @ 3.49g/t Au from 164m and 4m @ 4.34g/t Au from 172m at the Dam Prospect

• MFRC079: 2m @ 4.16g/t Au from 94m and 24m @ 1.22g/t Au from 112m, including 4m @ 3.67g/t Au from 120m at the Damsel Prospect

• MFRC065: 9m @ 3.77g/t Au from 219m, including 5m @ 6.31g/t Au from 222m down plunge of high-grade historical Mt Fisher Gold Mine

• High-grade results from Mt Eureka (northern Mt Fisher belt tenure extension - Rox earning up to 75%, Cullen Resources Limited 25%) include:

• MFRC075: 13m @ 6.81g/t Au from 45m, including 9m @ 8.89g/t Au from 47m and 4m @ 2.59g/t Au from 67m at the Galway Prospect

• MFRC071: 3m @ 3.96g/t Au from 35m, including 2m @ 5.52g/t Au from 35m at the Southern Prospect

+61 8 9226 0044

Next Steps:

admin@roxresources.com.au

www.roxresources.com.au

Follow Rox:

• Follow up drilling (RC) planned along strike and down dip of newly identified mineralisation at all prospects

• Regional target generation ongoing over 850km² of highly prospective greenstone terrane

==> picture [32 x 32] intentionally omitted <==

==> picture [32 x 31] intentionally omitted <==

==> picture [33 x 33] intentionally omitted <==

West Australian gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL) is pleased to report high grade assay results from reverse circulation (RC) drilling at the Mt Fisher Gold Project (Rox 100%) and the Mt Eureka Project (Cullen Resources Joint Venture). Mt Fisher is an early-stage project within the Company’s project pipeline that includes the advanced stage Youanmi Gold Project (3.2 million ounces gold – ASX announcement 20 April, 2022).

The Mt Fisher-Mt Eureka Gold Project is located in the Northern Goldfields, approximately 500km northeast of Kalgoorlie (about 120km east of Wiluna) within the Mt Fisher greenstone belt. This belt is located 40km east of the prolific Yandal greenstone belt, host of significant gold deposits including Jundee, Bronzewing and Mt McClure (Figure 1).

Rox’s tenure covers a large area over the Mt Fisher greenstone belt (850km² in total, comprising: Rox 100% 500km², and Cullen Resources JV 350km²). Under the Cullen JV Rox is earning up to 75%, with Cullen Resources Limited holding the remaining 25%.

A 4,800m RC drill program and a 7,000m air core program were completed in December 2021 to test high priority gold targets that were generated from a detailed geological/geophysical data review. This current phase of drilling targeted numerous known gold occurrences including: the Mt Fisher Mine, the Dam/Damsel Gold Trend, Wagtail, Taipan, Southern-Galway and Eureka North-West (Figure 1).

Much of the past exploration in the belt has principally been surface geochemistry and shallow RAB drilling which highlighted strong gold anomalism although did not adequately test primary basement mineralisation. Rox’s RC drilling aimed to evaluate the continuity, grade and down dip extent of mineralisation beneath the weathered zone and into fresh basement rock.

Significantly, drilling intersected significant gold mineralisation at all target areas. The extensive nature and continuity of the gold mineralisation throughout the project area indicates the greenstone belt has strong potential for major new gold discoveries.

Managing Director Alex Passmore commented:

“The Mt Fisher greenstone belt is one of the least explored belts of the prolific Yilgarn craton, and these results shine a bright light on its potential gold endowment. This is an exciting development for Rox given our vast tenure position in the belt. Our technical team conducted a detailed review of all existing data to set the forward strategy which these results have served to validate.

These results highlight in particular the potential of the Damsel prospect which features large-scale gold anomalies and many of the geological features of major gold systems in the Yilgarn.

Damsel is located within a 1 km long gold anomaly (in regolith) defined by grades greater than 1 g/t Au. This area is part of a broader 7km long gold anomaly (>0.2g/t Au). Gold anomalism of this scale has the potential to reflect a large primary gold system. The results received at Damsel in this round of drilling provide a clear demonstration of the high gold grades and strong continuity at depth, and immediate follow up is planned.”

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

2

==> picture [362 x 596] intentionally omitted <==

Figure 1. Mt Fisher Gold Project and Mt Eureka JV over interpreted bedrock geology and downhole Au grades.

ROX RESOURCES LIMITED 3 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

E: admin@roxresources.com.au www.roxresources.com.au

Mt Fisher Gold Project (Rox 100%)

Dam-Damsel Gold Trend

The Dam-Damsel Gold Trend is defined by strong gold and multi-element anomalism (Sb, As, Bi, Cu, and Zn) over 10km of strike within a well-defined structural corridor on the western limb of the Wonganoo Anticline. Mineralisation trends in a north-south orientation and is interpreted to be channelled along the bounding Dam and Dirks shear zones and particularly through an anastomosing network of linking structures between these major shears (Figure 2).

Historical drilling is mostly limited to shallow RAB with minimal testing of bedrock beneath the well-developed regolith anomalies along the Dam-Damsel-Dirk corridor.

Eleven RC holes were completed at the various prospects along the Dam-Damsel gold corridor. Results are discussed in detail below.

Damsel

The geology of the Damsel prospect comprises a package of north-south striking, strongly foliated tholeiitic to chloritic basalts intruded by felsic porphyries and dolerite/gabbro. The regolith is well developed over the area, with weathering up to 100m below surface. Primary gold mineralisation occurs in stacked parallel lenses that dip west and plunge moderately north. Mineralisation is associated with highly sheared silica-sericite-carbonate altered basalt and occurs with pyrite and chalcopyrite.

Historical drilling failed to test the extension of mineralisation to the north, with drilling ending above the mineralised shoot (missing the plunge). Seven RC holes were completed to test the down plunge extension and infill wider spacing drill sections.

The results reported in this announcement demonstrate strong continuity of high-grade mineralisation between drill sections. Mineralisation remains open down plunge to the north (Figure 3). High-grade results include:

• MFRC081: 18m @ 6.99g/t Au from 69m, including 1 0m @ 10.27g/t Au from 74m

• MFRC079: 2m @ 4.16g/t Au from 94m and 24m @ 1.22g/t Au from 112m, including 4m @ 3.67g/t Au from 120m

• MFRC077: 13m @ 1.08g/t Au from 136m, including 2m @ 2.54g/t Au from 136m

Damsel mineralisation intersected by MFRC081 is open down dip and down plunge. The thickness of mineralisation and grade increases very substantially down dip from MFAC93 to MFRC021 to MFRC081 (Figure 4). Rox plans to test down dip of MFRC081 shortly.

The following figures include images related to exploration modelling of the Mt Fisher gold prospects. Indicative grade shell models (>0.2g/t Au, 1g/t Au) have been generated in Leapfrog software and are provided for reference only. The images of grade shell models are not an Exploration Target and do not contain nor indicate any estimate of potential size and grade ranges.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

4

E: admin@roxresources.com.au www.roxresources.com.au

==> picture [402 x 568] intentionally omitted <==

Figure 2. Location plan of Dam-Damsel Gold Trend showing drill hole intersections and maximum gold in hole contours.

ROX RESOURCES LIMITED 5 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

E: admin@roxresources.com.au www.roxresources.com.au

==> picture [368 x 261] intentionally omitted <==

Figure 3. Long-section of Damsel Prospect looking east showing drill pierce points. Drilling orientation is perpendicular to the plane of mineralisation (west to east).

==> picture [369 x 262] intentionally omitted <==

Figure 4. Cross section of MFRC081 at the Damsel Prospect looking north.

ASX CODE: RXL

ROX RESOURCES LIMITED 6 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

E: admin@roxresources.com.au www.roxresources.com.au

Dam

Anomalous regolith gold mineralisation is defined over 5 km in length at the Dam prospect (located within the Dam-Damsel Gold Trend). Gold mineralisation at Dam is associated with carbonate-silica-sericite-chlorite alteration of mafic lithologies and is characterised by an Au, Ag, As, Cu, Pb, Sb, W, Zn geochemical signature.

One RC hole was completed to test for south plunging primary mineralisation beneath strong regolith gold and antimony anomalism at Dam SE (Figure 5).

MFRC084 intersected 16m @ 2.58g/t Au from 164m, including 4m @ 3.49g/t Au from 164m and 4m @ 4.34g/t Au from 172m within strongly carbonate altered basalt (Figure 6). Follow up RC drilling is planned to define the extent of gold mineralisation along strike to the south.

==> picture [488 x 346] intentionally omitted <==

Figure 5. Long-section of the Dam SE Prospect looking east.

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

7

==> picture [488 x 346] intentionally omitted <==

Figure 6. Cross-section of MFRC084 at the Dam SE Prospect looking north.

Shiva

The Shiva Prospect is located 8km along strike to the south of the Dam-Damsel prospects. The gold in the regolith anomaly is defined over 1 km in length and overlies a complex zone of mafic extrusive and mafic intrusive lithologies. Primary gold mineralisation strikes north-northwest, dips west and plunges moderately south. Two RC holes were completed, significant results include: MFRC066: 1m @ 2.5g/t Au from 77m and 2m @ 1.55g/t Au from 91m, MFRC067: 4m @ 1.02g/t Au from 152m, 4m @ 1.18g/t Au from 160m.

Mt Fisher Mine

The historic Mt Fisher Mine is located on a neighbouring structural corridor approximately 8km NE of the DamDamsel gold trend. The Mt Fisher gold deposit is hosted within a sulphide facies chert, bounded by a strongly foliated chloritic ultramafic hanging wall and a basaltic footwall. The sequence strikes north-northeast and dips to the east at approximately 50°. Gold mineralisation occurs in association with massive and disseminated sulphides, mainly pyrrhotite, with lesser pyrite. Mineralisation plunges moderately southwards beneath the southern end of the existing open pit and is open at depth.

A ground electromagnetic (EM) survey by Rox in 2012 defined several conductive anomalies that are likely related to pyrrhotite associated gold mineralisation. The conductive anomaly is defined over 3km of strike length and appears to represent the down plunge extension of mineralisation at the Mt Fisher Mine.

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

8

Four RC holes were completed to test the down plunge extension of mineralisation. Additionally, one diamond drillhole was completed to test the centre of a conductive anomaly directly down plunge of the mine (Figure 7). The conductive anomalies to the south are yet to be tested by drilling.

High-grade results include:

• MFRC065: 5m @ 6.31g/t Au from 222m within 9m @ 3.77g/t Au from 219m

• MFDD002: 0.51m @ 4.52g/t Au from 319.45m, including 0.24m @ 8.64g/t Au from 319.45m

The results reported in this announcement demonstrate strong continuity of high-grade mineralisation up to 340m down plunge of the mine with mineralisation open along strike to the south and down dip to the east.

The sulphide assemblage through the mineralised zone consisted of semi massive pyrrhotite (up to 30%) and cross cutting quartz veining with pyrrhotite, pyrite and minor arsenopyrite; confirming that gold mineralisation is associated with massive and disseminated sulphides.

Downhole electromagnetic (DHEM) surveys will be completed on all drillholes to vector towards zones of potential thicker high-grade mineralisation.

==> picture [487 x 345] intentionally omitted <==

Figure 7. Long-section of the Mt Fisher Mine looking west displaying downhole gold grades and modelled EM conductor plates.

==> picture [9 x 8] intentionally omitted <==

----- Start of picture text -----

9
----- End of picture text -----

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

Wagtail

The Wagtail prospect (also known as Moray Reef) is a quartz vein hosted gold reef system. Historic production from the deposit between 1949 and 1952 produced a reported 2,384 ounces at an average grade of 66 g/t Au. The reef strikes north, with a sub-vertical to steep easterly dip. High-grade mineralisation plunges moderately north. One RC hole was completed 80m down plunge to test for extensions of high-grade mineralisation (Figure 8). MFRC063 intersected 1m @ 4.66g/t Au from 127m, demonstrating geological continuity of the mineralised structure along strike and down dip. Follow up drilling is planned down dip of MFRC063 to test for zones of thicker mineralisation.

==> picture [488 x 346] intentionally omitted <==

Figure 8. Long-section of the Wagtail Prospect looking west.

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED 10 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

Mt Eureka Project (Rox currently earning up to 75%, Cullen Resources Limited 25%)

The Mt Eureka gold prospects are situated along a 15km long zone of sheared and anomalous greenstone rocks. Four deposits (Taipan, Eureka North-West, Southern-Galway and Graf’s Find) are the main gold occurrences and the focus of drilling and exploration (Figure 9).

==> picture [367 x 520] intentionally omitted <==

Figure 9. Location plan of the Mt Eureka gold prospects showing drill hole intersections and maximum gold in hole contours.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

11

E: admin@roxresources.com.au www.roxresources.com.au

Southern and Galway

Mineralisation at the Southern and Galway prospects occurs within silicified shear zones developed on a northeast striking, northwest dipping contact between felsic volcaniclastic schist and ultramafic schist. (Figure 10).

Drilling was designed to test a shear zone beneath gold in regolith anomalies at Galway and to better understand the controls on gold mineralisation. A thick zone of high-grade gold mineralisation was intersected near-surface in MFRC075 (13m @ 6.81g/t Au from 45m, including 9m @ 8.89g/t Au from 47m). The intersection is highly encouraging as it indicates the potential for continuity of high-grade mineralisation within the interpreted northeast trending structure.

Follow up drilling is planned at depth and along strike to gain a better understanding of the geological controls on mineralisation in fresh rock.

At Southern, drilling was designed to test an interpreted NE plunge to mineralisation. However, the two holes at Southern (MFRC071 & MFRC074) were abandoned due to ground conditions and therefore failed to reach target depth. Both holes will be extended during the next drilling campaign.

• Highlights from drilling at the Southern and Galway prospects include:

• MFRC075: 13m @ 6.81g/t Au from 45m, including 9m @ 8.89g/t Au from 47m and 4m @ 2.59g/t Au from 67m at the Galway Prospect

• MFRC071: 3m @ 3.96g/t Au from 35m, including 2m @ 5.52g/t Au from 35m at the Southern Prospect

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

12

E: admin@roxresources.com.au www.roxresources.com.au

==> picture [402 x 568] intentionally omitted <==

Figure 10. Location plan of the Southern-Galway gold prospects showing interpreted shear zones, drill hole intersections and maximum gold in hole contours over greyscale aeromagnetics.

13

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

E: admin@roxresources.com.au www.roxresources.com.au

Taipan

The Taipan shear zone is a large hydrothermal system in a complex structural setting (Figure 11). The mineralised system has a strike length of 700m and a true thickness of up to 150m and consists of sheared chlorite-quartz-biotite-carbonate schist containing moderately abundant fine disseminated pyrite. High grade gold mineralisation has been intercepted by historical drilling within the north portion of the deposit with intercepts of 20m @ 2.28g/t Au from 100m, including 2m @ 9.85g/t Au from 102m in MERC022 and 1m @ 17.4g/t Au in MEAC03 (RXL ASX Release 26 October 2021). Three RC holes were completed by Rox at Taipan in this round of drilling. These holes intercepted low grade mineralisation, however significant widths of up to 150m of highly sheared carbonate altered basalt with abundant quartz veining and minor pyrite were intercepted (Figure 12). Follow up RC drilling is planned along strike to the south to test for a primary source structure hosting higher grade mineralisation.

Highlights from this round of drilling include:

• MFRC068: 1m @ 0.71g/t Au from 162m, 1m @ 1.14g/t Au from 172m, 1m @ 1.5g/t Au from 180m, 1m @ 0.7g/t Au from 185m, 1m @ 0.69g/t Au from 191m, 5m @ 0.69g/t Au from 194m and 2m @ 1.43g/t Au from 210m

• MFRC070: 1m @ 0.53g/t Au from 97m, 2m @ 0.63g/t Au from 112m, 2m @ 0.71g/t Au from 164m and 1m @ 0.67g/t Au from 178m

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

14

E: admin@roxresources.com.au www.roxresources.com.au

==> picture [398 x 563] intentionally omitted <==

Figure 11. Location plan of the Taipan gold prospect showing interpreted shear zone, drill hole intersections and maximum gold in hole contours over greyscale aeromagnetics.

15

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

E: admin@roxresources.com.au www.roxresources.com.au

==> picture [485 x 305] intentionally omitted <==

Figure 12. Cross-section of the Taipan shear zone looking north-east.

Mt Eureka Northwest

Gold mineralisation is related to quartz veining and shearing in mafics associated with the granite-greenstone contact. Primary gold mineralisation strikes north-northeast, dips east and plunges moderately south. Two RC holes were completed to test the down plunge extension of mineralisation along the granite-greenstone contact. Significant results include: MFRC072: 4m @ 0.87g/t Au from 120m, MFRC073: 4m @ 0.58g/t Au from 4m, 3m @ 1.57g/t Au from 24m including 1m @ 3.35g/t Au from 25m and 1m @ 2.17g/t Au from 32m. Results indicate an extension of the mineralised structure to the south (albeit with only moderate grades/widths).

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

ROX RESOURCES LIMITED 16 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

Next Steps:

• Follow up drilling (RC) is planned along strike and down dip of newly identified mineralisation.

• All samples have been submitted for multi-element assays to provide additional insight into the bedrock geology and key pathfinder elements (such as arsenic and antimony) and will be of assistance in planning follow-up drilling and more detailed geochemical evaluation. All multi-element assays remain pending.

• Regional target generation is ongoing over 850km² of highly prospective greenstone terrane

• Project wide high resolution (50m spaced) aeromagnetic surveying was recently completed and will assist with further geological interpretation and target generation.

Authorised for release to the ASX by the Board of Rox Resources Limited.

* ENDS ***

For more information:

Alex Passmore Managing Director Rox Resources Limited Tel: +61 8 9226 0044 E: admin@roxresources.com.au

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

17

E: admin@roxresources.com.au www.roxresources.com.au

Table 1 - Significant Intersections

Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections
Hole ID	Prospect	**Drill type **	From	to	Interval	**Aug/t **	Aug.m
MFDD002	Mt Fisher Mine	DD	315.12	315.73	0.61	0.74	0.45
MFDD002	Mt Fisher Mine	DD	317.84	318.4	0.56	0.92	0.52
MFDD002	Mt Fisher Mine	DD	319.45	319.96	0.51	4.52	2.3
Including	Mt Fisher Mine	DD	319.45	319.69	0.24	8.64	2.07
MFRC063	Wagtail	RC	127	128	1	4.66	4.66
MFRC065	Mt Fisher Mine	RC	219	228	9	3.77	33.94
Including	Mt Fisher Mine	RC	222	227	5	6.31	31.53
MFRC066	Shiva	RC	67	68	1	0.64	0.64
MFRC066	Shiva	RC	77	78	1	2.5	2.5
MFRC066	Shiva	RC	91	93	2	1.55	3.11
MFRC067	Shiva	RC	51	52	1	0.5	0.5
MFRC067	Shiva	RC	68	70	2	0.89	1.79
MFRC067	Shiva	RC	152	156	4	1.02	4.08
MFRC067	Shiva	RC	160	164	4	1.18	4.73
MFRC068	Taipan	RC	162	163	1	0.71	0.71
MFRC068	Taipan	RC	172	173	1	1.14	1.14
MFRC068	Taipan	RC	180	181	1	1.5	1.5
MFRC068	Taipan	RC	185	186	1	0.7	0.7
MFRC068	Taipan	RC	191	192	1	0.69	0.69
MFRC068	Taipan	RC	194	199	5	0.69	3.44
MFRC068	Taipan	RC	210	212	2	1.43	2.85
MFRC069	Taipan	RC	123	124	1	0.98	0.98
MFRC070	Taipan	RC	97	98	1	0.53	0.53
MFRC070	Taipan	RC	112	114	2	0.63	1.27
MFRC070	Taipan	RC	164	166	2	0.71	1.42
MFRC070	Taipan	RC	178	179	1	0.67	0.67
MFRC071	Southern	RC	20	21	1	0.5	0.5
MFRC071	Southern	RC	35	38	3	3.96	11.88
Including	Southern	RC	35	37	2	5.52	11.04
MFRC071	Southern	RC	49	50	1	0.59	0.59
MFRC071	Southern	RC	63	64	1	0.83	0.83
MFRC071	Southern	RC	66	67	1	0.64	0.64
MFRC071	Southern	RC	186	189	3	0.52	1.56
MFRC072	Eureka NW	RC	120	124	4	0.87	3.5
MFRC073	Eureka NW	RC	4	8	4	0.58	2.32
MFRC073	Eureka NW	RC	24	27	3	1.57	4.72
Including	Eureka NW	RC	25	26	1	3.35	3.35

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

18

E: admin@roxresources.com.au www.roxresources.com.au

Table 1 - Significant Intersections

Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections
Hole ID	Prospect	**Drill type **	From	to	Interval	**Aug/t **	Aug.m
MFRC073	Eureka NW	RC	32	33	1	2.17	2.17
MFRC073	Eureka NW	RC	42	43	1	0.78	0.78
MFRC074	Southern	RC	112	114	2	0.99	1.97
MFRC075	Galway	RC	4	8	4	0.59	2.36
MFRC075	Galway	RC	37	40	3	0.95	2.84
MFRC075	Galway	RC	45	58	13	6.81	88.57
Including	Galway	RC	47	56	9	8.89	80.01
MFRC075	Galway	RC	67	71	4	2.59	10.37
Including	Galway	RC	67	69	2	4.15	8.29
MFRC076	Damsel	RC	140	141	1	2.35	2.35
MFRC076	Damsel	RC	160	162	2	0.6	1.2
MFRC076	Damsel	RC	173	174	1	0.72	0.72
MFRC076	Damsel	RC	180	184	4	1.48	5.94
MFRC076	Damsel	RC	227	228	1	0.77	0.77
MFRC077	Damsel	RC	121	122	1	0.64	0.64
MFRC077	Damsel	RC	126	127	1	0.76	0.76
MFRC077	Damsel	RC	136	149	13	1.08	14.09
Including	Damsel	RC	136	138	2	2.54	5.07
MFRC077	Damsel	RC	151	152	1	0.63	0.63
MFRC078	Damsel	RC	188	189	1	5.27	5.27
MFRC079	Damsel	RC	36	40	4	0.73	2.92
MFRC079	Damsel	RC	60	64	4	1.08	4.33
MFRC079	Damsel	RC	68	72	4	0.54	2.16
MFRC079	Damsel	RC	94	96	2	4.16	8.32
MFRC079	Damsel	RC	112	136	24	1.22	29.39
Including	Damsel	RC	120	124	4	3.67	14.68
MFRC080	Damsel	RC	73	75	2	0.77	1.54
MFRC080	Damsel	RC	107	108	1	6.24	6.24
MFRC080	Damsel	RC	112	113	1	0.85	0.85
MFRC080	Damsel	RC	115	116	1	0.75	0.75
MFRC081	Damsel	RC	59	61	2	1.22	2.45
MFRC081	Damsel	RC	64	66	2	1.13	2.25
MFRC081	Damsel	RC	69	87	18	6.99	125.75
Including	Damsel	RC	74	84	10	10.27	102.7
MFRC081	Damsel	RC	90	91	1	0.52	0.52
MFRC081	Damsel	RC	104	112	8	0.56	4.5
MFRC082	Damsel	RC	114	115	1	0.65	0.65

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

19

E: admin@roxresources.com.au www.roxresources.com.au

Table 1 - Significant Intersections

Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections	Table 1- Significant Intersections
Hole ID	Prospect	**Drill type **	From	to	Interval	**Aug/t **	Aug.m
MFRC084	Dam	RC	113	114	1	0.67	0.67
MFRC084	Dam	RC	120	129	9	1.02	9.22
Including	Dam	RC	128	129	1	3.71	3.71
MFRC084	Dam	RC	156	160	4	1.23	4.91
MFRC084	Dam	RC	164	180	16	2.58	41.32
Including	Dam	RC	164	168	4	3.49	13.98
Including	Dam	RC	172	176	4	4.34	17.36
MFRC085	Mt Fisher Mine	RC	184	186	2	1.01	2.02
MFRC086	Mt Fisher Mine	RC	161	165	4	1.2	4.8

Table 2 - Collar Locations and Drilling Details

Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details	Table 2 - Collar Locations and Drilling Details
Hole ID	Prospect	Drill	East	North	RL	Depth	Dip	Azi	Comments
MFDD002	Mt Fisher Mine	DD	349684	7029393	550	313	-80	270
MFRC063	Wagtail	RC	350149	7028367	557	180	-60	270
MFRC064	Mt Fisher Mine	RC	349757	7030012	547	180	-60	293
MFRC065	Mt Fisher Mine	RC	349626	7029400	548	252	-64	299
MFRC066	Shiva	RC	343489	7017615	548	138	-61	89
MFRC067	Shiva	RC	343501	7017485	533	200	-60	92
MFRC068	Taipan	RC	354907	7049451	537	250	-60	292
MFRC069	Taipan	RC	355167	7050122	530	192	-59	295
MFRC070	Taipan	RC	355121	7050028	531	210	-60	293
MFRC071	Southern	RC	354424	7056794	518	210	-59	182
MFRC072	Eureka NW	RC	353555	7061461	509	160	-60	267
MFRC073	Eureka NW	RC	353537	7061603	507	100	-59	269
MFRC074	Southern	RC	354428	7056695	519	192	-59	179
MFRC075	Galway	RC	353906	7056038	514	180	-59	183
MFRC076	Damsel	RC	342477	7028069	531	240	-60	83
MFRC077	Damsel	RC	342545	7028064	531	180	-60	90
MFRC078	Damsel	RC	342517	7027916	532	200	-59	92
MFRC079	Damsel	RC	342570	7027801	531	150	-60	94
MFRC080	Damsel	RC	342550	7027728	534	140	-61	90
MFRC081	Damsel	RC	342570	7027617	534	120	-60	94
MFRC082	Damsel	RC	342429	7027430	536	140	-59	94
MFRC083	Dam	RC	342817	7025034	532	200	-61	91
MFRC084	Dam	RC	342909	7023863	536	200	-60	88
MFRC085	Mt Fisher Mine	RC	349637	7029623	548	210	-60	295
MFRC086	Mt Fisher Mine	RC	349616	7029572	550	240	-50	294

Competent Person Statements

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

20

E: admin@roxresources.com.au www.roxresources.com.au

Exploration Results

The information in this report that relates to Data and Exploration Results is based on information compiled and reviewed by Mr Gregor Bennett a Competent Person who is a Member of the Australian Institute Geoscientists (AIG) and Exploration Manager at Rox Resources. Mr Bennett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bennett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results was prepared and first disclosed under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX.

Resource Statements

The Statement of Estimates of Mineral Resources for the Youanmi Near Surface Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 20th April 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources for the Youanmi Underground Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 20th January 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources that relates to gold Mineral Resources for the Mt Fisher project was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 11th July 2018. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

Forward ‐ Looking Statements

‐ ‐ This document may include forward looking statements. Forward looking statements include, but are not limited to, statements concerning Rox Resources Limited planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements.

About Rox Resources

Rox Resources (ASX:RXL) is a West Australian focused gold exploration and development company. It is 70 per cent owner and operator of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and wholly-owns the Mt Fisher Gold project approximately 140 kilometres southeast of Wiluna. Youanmi has a Total Mineral Resource of 3,199 koz of contained gold, with potential for further expansion with the integration of existing prospects into the Resource and further drilling. Youanmi was a high-grade gold mine and produced 667,000oz of gold (at 5.47 g/t Au) before it closed in 1997. Youanmi is classified as a disturbed site and is on existing mining leases which has significant existing infrastructure to support a return to mining operations.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

21

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. RC hole diameter was 5.5" (140 mm) reverse circulation percussion (RC). Sampling of RC holes was undertaken by collecting 1m cone split samples at intervals. Diamond drill hole core size is NQ2 size diameter through the mineralisation. Sampling of diamond holes was by cut half core as described further below. Drill holes were generally angled at -2700or 900(but see Table for individual hole dips and azimuths) to intersect geology as close to perpendicular as possible.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Drillhole locations were picked up by differential GPS. Logging of drill samples included lithology, weathering, texture, moisture and contamination (as applicable). Sampling protocols and QAQC are as per industry best practice procedures.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information RC drillholes were sampled on 1m intervals using a cone splitter. Diamond core was NQ2 size, sampled on geological intervals, with a minimum of 0.2 m up to a maximum of 1.2 m. NQ2 holes were cut in half, with one half sent to the lab and one half retained. Samples were sent to Intertek Genalysis in Perth, crushed to 10mm, dried and pulverised (total prep) in LM5 units (Some samples > 3kg were split) to produce a sub-sample. RC and diamond pulps were analysed by 50g Fire Assay with ICP-OES (Intertek code FA50/OE).
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drilling technique was Reverse Circulation (RC) and diamond core (DD). The RC hole diameter was 140mm face sampling hammer. Hole depths reported range from 120m to 252m for RC and 313m for diamond.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed RC drill recoveries were high (>90%).
	Measures taken to maximise sample recovery and ensure representative nature of the samples Samples were visually checked for recovery, moisture and contamination and notes made in the logs.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no observable relationship between recovery and grade, and therefore no sample bias.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

22

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Detailed geological logs have been carried out on all RC, but no geotechnical data have been recorded (or is possible to be recorded due to the nature of the sample). Detailed geological and geotechnical logs were carried out on all diamond drill holes for recovery, RQD, structures etc. which included structure type, dip, dip direction, alpha angle, beta angle, texture, shape, roughness, fill material, and this data is stored in the database. The geological data would be suitable for inclusion in a Mineral Resource estimate.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Logging of diamond core and RC chips recorded lithology, mineralogy, mineralisation, weathering, colour, and other sample features. RC chips are stored in plastic RC chip trays.
	The total length and percentage of the relevant intersections logged All holes were logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. Drill core was cut in half on site using a core saw. All samples were collected from the same side of the core, preserving the orientation mark in the kept core half.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. RC samples were collected on the drill rig using a cone splitter. If any mineralised samples were collected wet these were noted in the drill logs and database.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation followed industry best practice. Fire Assay samples were dried, coarse crushing to ~10mm, followed by pulverisation of the entire sample in an LM5 or equivalent pulverising mill to a grind size of 85% passing 75 micron.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Field QC procedures involve the use of Certified Reference Materials (CRM’s) as assay standards, along with duplicates and blank samples. The insertion rate of these was approximately 1:20.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. For RC drilling field duplicates were taken on a routine basis at an approximate 1:20 ratio using the same sampling techniques (i.e. cone splitter) and inserted into the sample run. No diamond core field duplicates were taken.
	Whether sample sizes are appropriate to the grain size of the material being sampled. The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. The analytical technique involved Fire Assay 50g.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

23

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical or portable analysis tools were used to determine assay values stored in the database.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Senior personnel from the Company have visually inspected mineralisation within significant intersections.
	The use of twinned holes. No holes have been twinned by Rox at this stage.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary data was collected using a standard set of Excel templates on Toughbook laptop computers in the field. These data are transferred to Geobase Pty Ltd for data verification and loading into the database.
	Discuss any adjustment to assay data. No adjustments or calibrations have been made to any assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Drill hole locations have been established using a field GPS unit.
	Specification of the grid system used. The grid system is MGA_GDA94, zone 51 for easting, northing and RL.
	Quality and adequacy of topographic control. The topography of the mined open pit is well defined by historic monthly survey pickups
Data spacing and distribution	Data spacing for reporting of Exploration Results. RC and diamond drill hole spacing varies 40-100 metres between drill sections, with some areas at 40 metre drill section spacing. Down dip step-out distance varies 20-100 metres.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Data spacing and distribution are sufficient to establish the degree of geological and grade continuity appropriate for JORC(2012) classifications applied.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

24

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	Whether sample compositing has been applied. No sample compositing has occurred for diamond core drilling. Sample intervals are based on geological boundaries with even one metre samples between. For RC samples, 1m samples through target zones were sent to the laboratory for analysis. The remainder of the hole was sampled using 4m composite samples. For 4m composite samples >0.2g/t Au, 1m samples were collected and sent to the laboratory for analysis.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. RC and diamond drilling is believed to be generally perpendicular to strike.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security. Sample security is managed by the Company. After preparation in the field samples are packed into polyweave bags and despatched to the laboratory. For a large number of samples these bags were transported by the Company directly to the assay laboratory. In some cases the sample were delivered by a transport contractor the assay laboratory. The assay laboratory audits the samples on arrival and reports any discrepancies back to the Company. No such discrepancies occurred.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. No audits have yet been completed.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

25

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. Rox owns 100% of the Mt Fisher gold project tenements: M53/127, M53/9, E53/1061, E53/1106, E53/1218, E53/1788, E53/1836, E53/1106, E53/1788 and E53/2102. Rox and Cannon Resources entered into a split commodity agreement in respect of E53/1218 where Rox retains gold rights and Cannon retains rights to all other minerals. Rox Resources in a Joint Venture Agreement with Cullen Resources. Rox may earn a 51% interest by spending $1m on exploration expenditure within a three-year period from satisfaction of certain Conditions Precedent (Stage 1 Earn In). If Rox earns the 51% interest, it can elect to earn a further 24% interest by expending a further $1m on exploration expenditure over a three-year period, commencing at the end of the Stage 1 Earn In. The tenements in the Cullen JV consist of the following leases: E53/1209, E53/1299, E53/1637, E53/1893, E53/1957, E53/1958, E53/1959, E53/1961, E53/2052, E53/2101 (Pending), E53/2002, E53/2062 and E53/2075.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. The tenement is in good standing and no known impediments exist.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

26

E: admin@roxresources.com.au www.roxresources.com.au

Exploration done		A number of companies have completed exploration for base
by other parties		metals and gold within the regional Mt Fisher area. These
		companies include Minops Pty Ltd (1968 to 1971), Tenneco
		Australia (1971 to 1973), Sundowner (1985 to 1989), ACM
		Gold Ltd (1988 to 1992), Aztec Mining Company Ltd (1993 to
		1994) and Pegasus Gold Australia Pty Ltd (1994 to 1996).
		Work conducted included aeromagnetic surveys, ground
		magnetic surveys, regional mapping, rock chip sampling, soil
		geochemistry (including BLEG and stream sediment
		sampling) and rotary air blast (RAB) drilling.
		The Mt Fisher deposit was first discovered in 1936 and
		mining between 1937 and 1949 produced approximately
		4,500 tonnes of ore at 28 g/t gold (Powell, 1990). In 1980, a
		small deposit was defined by percussion drilling around the
		historical workings. Further drilling from 1984 to 1986 defined
		a larger deposit to the south of the old workings with
		Sundowner acquiring a 100% interest in the project in
		January 1986.
		Sundowner completed a historic estimate of 252,000 tonnes
		at 5.4 g/t gold to a pit depth of 100 m. Following a period of
		study, a 250,000 tpa carbon-in-pulp treatment plant was built
		with completion in September 1987. Open pit mining
		commenced in April 1987 and continued through to
		September 1988, and processing finished in late November
		1988. Total production from the Mt Fisher open pit was
		reportedly 218,000 tonnes at 4.3 g/t gold.
		Following completion of treatment, the plant was dismantled
	Acknowledgment and appraisal of exploration by other parties.	and moved to Sundowner’s Darlot mine 140 km to the south (Leandri P.S., 1989. Mt Fisher Mt Fisher Mine Eod of Operations Report. March 1989. Sundowner Minerals NL).
		(Bright, D.V., 1990. Mt Fisher ML53/127. Annual Technical
		Report. July 1989 – June 1990. Sundowner Minerals NL).
		Norgold Ltd and BHP Ltd (BHP) conducted gold exploration
		in the same area in the 1980s and exploration including rock
		chip sampling and mapping. BHP followed up with RAB and
		RC drilling reporting a number of gold anomalies in what was
		later named the Dam prospect.
		From 1993 to 1997, CRAE completed extensive exploration
		with work largely focussing on the Dam prospect where gold
		anomalism was identified over a 7 km by 1 km area. Work
		completed included RAB and aircore (AC) drilling with a small
		amount of RC and diamond drilling follow-up. Delta acquired
		the Project in 1998 and explored until 2001. They completed
		additional RAB, AC, RC and diamond drilling. CRAE and
		Delta defined extensive regolith gold anomalies but were
		unable to identify any substantial bedrock sources to gold
		mineralisation.
		From 1996, Cullen Resources NL (Cullen) in joint venture
		with Newmont Mining Corporation (Newmont) conducted
		exploration in the Mt Eureka area for gold and were also
		involved in a nickel joint venture with BHP.
		Avoca Resources Ltd (Avoca) acquired the Mt Fisher Gold
		Project in 2004 and completed geological mapping and soil
		and rock chip sampling over much of the tenement area.
		Drilling was focussed on defining further mineralisation along
		the Dam-Damsel-Dirk gold corridor and extending known
		mineralisation at Moray Reef, with the internal reporting of

ROX RESOURCES LIMITED 27 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
	Mineral Resources for the both the Dam and Moray Reef prospects. From 2004 to 2011, Avoca completed a total of 158 RAB/AC drill holes for 9,111 m and 64 shallow RC drill holes for 5,188 m.
Geology	Deposit type, geological setting and style of mineralisation. The geological setting is of Archean aged with common host rocks and structures related to mesothermal orogenic gold mineralisation as found throughout the Yilgarn Craton of Western Australia.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. Refer to drill results Table/s and the Notes attached thereto.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. All reported assay intervals have been length weighted. No top cuts have been applied. A lower cut-off of 0.5g/t Au was applied with 1m of interval dilution allowed. See Table/s..
	Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. A lower cut-off of 0.5g/t Au was applied with 1m of interval dilution allowed. Higher grade intervals are reported at lower cut-off of 5g/t Au with 1m of interval dilution allowed.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. No metal equivalent values have been used or reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). No definite relationships between mineralisation widths and intercept lengths are known from this drilling due to the highly weathered nature of the material sampled. However reported intercepts will usually be more than true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer to Figures and Table in the text. Indicative grade shell models (>0.2g/t Au, >1g/t Au) are included in figures within this announcement. These grade shell models have been generated in Leapfrog software. These grade shells are provided for reference only. The images of grade shell models are not an Exploration Target and do not contain nor indicate any estimate of potential size and grade ranges.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

28

E: admin@roxresources.com.au www.roxresources.com.au

JORC Table 1 - Section 2 Reporting of Exploration Results

	Criteria	JORC Code explanation	Commentary
	Balanced	Where comprehensive reporting of all Exploration
	reporting	Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration	Representative reporting of both low and high grades and widths is practiced.
		Results.
	Other	Other exploration data, if meaningful and material,
	substantive	should be reported including (but not limited to):
	exploration data	geological observations; geophysical survey results;
		geochemical survey results; bulk samples – size and	All meaningful and material information has been included in
		method of treatment; metallurgical test results; bulk	the body of the announcement.
		density, groundwater, geotechnical and rock
		characteristics; potential deleterious or contaminating
		substances.
	Further work	The nature and scale of planned further work (e.g. tests
		for lateral extensions or depth extensions or large-scale
		step-out drilling).	Further work (AC, RC and diamond drilling) is justified to
		Diagrams clearly highlighting the areas of possible	locate extensions to mineralisation both at depth and along
		extensions, including the main geological interpretations	strike.
		and future drilling areas, provided this information is not
		commercially sensitive

ASX CODE: RXL

ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

29

E: admin@roxresources.com.au www.roxresources.com.au