HIGH-TECH METALS LTD — Capital/Financing Update 2025

May 29, 2025

ASX: RXL ASX Announcement 30 May 2025

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Completion of sale of non-core tenements

Cash received to assist fast-tracking the development of Youanmi Gold Project

Rox Resources Limited (ASX: RXL) (" Rox " or " the Company ") is pleased to advise the sale of its non-core assets - the Mt Fisher and Mt Eureka tenements - to High-Tech Minerals Limited ( HTM ) ( ASX: HTM ) is complete.

The Company will receive a combination of $1.5 million cash, 1,000,000 fully paid ordinary shares in HTM, and a 1.0% Net Smelter Return (NSR) royalty in exchange for the tenements (see Schedule 1), as announced on 24 February 2025.

The divestment of these non-core tenements further strengthens cash reserves and follows Rox’s recent A$40 million placement, which received strong support from new and existing investors.

The sale will assist with advancing Rox’s 100%-owned Youanmi Gold Project towards development by fasttracking work programs including early infrastructure works and process plant design and engineering.

Rox Resources Managing Director and Chief Executive Officer, Phillip Wilding commented:

“We are pleased to have finalised the sale of these non-core assets to High-Tech Minerals, further bolstering our balance sheet after our recent A$40 million capital raise, whilst retaining exposure to these assets via ordinary shares in HTM and a 1% royalty.

“The sale was part of our corporate strategy to fast-track early development work at our flagship 2.3Moz Youanmi Gold Project, including construction of a mining camp for workers and design of required processing plant equipment.

“This work will be conducted in parallel to finalising our Definitive Feasibility Study, which is on track for delivery by the end of 2025.

“Rox is committed to driving value for shareholders as we work towards bringing our Youanmi Project into production swiftly, efficiently and cost-effectively.

“Today’s announcement reinforces our commitment, and I look forward to providing further updates as we accelerate our pathway to production.”

Authorisation:

This announcement is authorised for release by the Board of Rox Resources Limited.

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For further information, please contact:

Investor enquiries

Phillip Wilding Managing Director & CEO Rox Resources Limited admin@roxresources.com.au +61 8 9226 0044

Media enquiries

Emily Evans Media and Content Manager SPOKE emily@hellospoke.com.au +61 401 337 959

Rox Resources Limited

ABN 53 107 202 602 Level 2, 87 Colin Street, West Perth WA 6005 www.roxresources.com.au

About Rox Resources

Rox Resources (ASX: RXL) is a West Australian focused gold exploration and development company. It is the 100 per cent owner of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and owns the Mt Fisher - Mt Eureka Gold and Nickel Project approximately 140 kilometres southeast of Wiluna, with 100% ownership of certain tenure with the remaining tenure held via a joint venture (Rox 51%, earning into 75%).

Youanmi Project has a Total Mineral Resource of 2.3Moz 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. It is classified as a disturbed site and is on existing mining leases which have significant existing infrastructure to support a return to mining operations.

Competent Persons Statement

Resource Statements

The statement of estimates of Mineral Resources for the Youanmi Gold Project was reported by Rox in accordance with ASX Listing Rule 5.8 and the JORC Code (2012 edition) in the announcement “MRE Update confirms Youanmi as Significant High-Grade Gold Project and Paves Way for PFS” released to the ASX on 30 January 2024, and for which the consent of the Competent Person Mr Steve Le Brun was obtained. A copy of that announcement is available at www.asx.com.au. Rox confirms it is not aware of any new information or data that materially affects the Mineral Resources estimates information included in that market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources estimates in that announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.

Forward ‐ Looking Statements

Certain statements in this announcement relate to the future, including forward-looking statements relating to the Company and its business (including its projects). 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.

These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Neither the Company, its officers nor any other person gives any representation, assurance or guarantee that the events or other matters expressed or implied in any forward-looking statements will actually occur. You are cautioned not to place undue reliance on those statements.

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SCHEDULE 1

Tenement ID	Registered Holder	Interest
Mt Fisher Tenements
E53/1061	Rox(Mt Fisher)PtyLtd	100%
E53/1106	Rox(Mt Fisher)PtyLtd	100%
E53/1218	Cannon Resources Pty Ltd	100% (beneficial gold rights only)
E53/1319	Rox(Mt Fisher)PtyLtd	100%
E53/1788	Rox(Mt Fisher)PtyLtd	100%
E53/1836	Rox(Mt Fisher)PtyLtd	100%
E53/2002*	RXL	100%
E53/2075*	RXL	100%
E53/2095	RXL	100%
E53/2102	RXL	100%
L53/262	Rox(Mt Fisher)PtyLtd	100%
M53/0009	Rox(Mt Fisher)PtyLtd	100%
M53/0127	Rox(Mt Fisher)PtyLtd	100%
E53/2199	Rox(Mt Fisher)PtyLtd	100%
E53/2201	Rox(Mt Fisher)PtyLtd	100%
E53/2307	Rox(Mt Fisher)PtyLtd	100%
E53/2354*	Rox(Mt Fisher)PtyLtd	51%
E53/2355*	Rox(Mt Fisher)PtyLtd	51%
E53/2356*	Rox(Mt Fisher)PtyLtd	51%
Mt Eureka Tenements
E53/1209	RXL	51%
E53/1299*	RXL	51%
E53/1637	RXL	51%
E53/1893*	RXL	51%
E53/1957*	RXL	51%
E53/1958*	RXL	51%
E53/1959*	RXL	51%
E53/1961*	RXL	51%
E53/2052*	RXL	51%
E53/2063*	RXL	51%
E53/2101*(Applicationpending)	RXL	51%
E53/2358*(Applicationpending)	RXL	51%

Tenements

• Tenements subject to the Aurora Royalty.

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