ROX RESOURCES LIMITED - AGM Information 2015

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Successful Base Metals Exploration

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AGM Presentation 25 November 2015

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ASX: RXL

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Who is Rox?
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Fisher East Nickel : Pathway to short term nickel sulphide production in WA Reward Zinc : New potentially large zinc discovery Bonya Copper : Early stage exploration - strong potential Strong leverage to rising base metal prices: Nickel, Zinc, Copper

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Research Endorsements
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Patersons

Rob Brierley 28 Oct 2015 Speculative Buy

“…continues to steadfastly pursue the unlocking of value from its projects and we admire this approach”

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Fat Prophets

David Lennox 7 Oct 2015 Speculative Buy

“We reiterate our buy recommendation for those members with no exposure”

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Mine Life

Gavin Wendt 30 Sep 2015

“A well-managed explorer…..We retain our positive outlook”

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Bell Potter

Peter Arden 29 Sep 2015 Speculative Buy

“Valuation of 4.5 cents per share”

None of this research was commissioned by Rox

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Explorer of the Year
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Recently Rox was awarded Australian Mining Prospects Awards Explorer of the Year In recognition of Rox’s multifaceted exploration success in discovering nickel at Fisher East, copper at Bonya, and our involvement in the Teena zinc exploration venture.

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Fisher East – Nickel
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Current Mineral Resource* ~3.6 Mt @ 2.0% Ni, for 72,100 tonnes contained Ni

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Further discoveries (e.g. Cannonball, Sabre and Horatio) will add to resource base Multiple exploration targets - potential for more discoveries Scoping Study completed, PFS underway

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Camelwood + Musket Mineral Resource: Indicated 1.8Mt @ 2.1% Ni, Inferred 1.9Mt @ 1.8% Ni, Total 3.6Mt @ 2.0% Ni.

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Mt Fisher Location
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Mt Fisher Greenstone Belt

Camelwood (35kt Ni) Cannonball Musket (37kt Ni) Cutlass Sabre Mt Tate Tomahawk Horatio

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150km north-east of Leinster (BHP Nickel West) New province for nickel sulphide deposits – discovered by Rox Four deposits discovered so far

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Two resources, with more to come

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More EM and geochemical targets still to test over 25km of strike

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Long Section
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Camelwood Mineral Resource: Indicated 0.6 Mt @ 2.4% Ni, Inferred 1.0 Mt @ 2.1% Ni, Total 1.6 Mt @ 2.2% Ni

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Ultimate size of these deposits is unknown as they are open at depth and still have untested downhole EM conductors

Musket Mineral Resource: Indicated 1.2 Mt @ 2.0% Ni, Inferred 0.9 Mt @ 1.5% Ni, Total 2.1 Mt @ 1.8% Ni

Resource Upgrade Due Shortly

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Scoping Study
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Conducted by independent international consultants, CSA Global Pty Ltd Examined two options:

o Toll milling – truck ore to nearby plant (200km) o Build a plant – truck concentrate for sale Standard industry underground mining techniques Produces a clean, saleable concentrate with good specs (12-14% Ni, MgO <4%, Fe:MgO >6, low As (<100ppm), 80-95% recoveries) Cash operating costs similar to other nickel sulphide operators in the Kambalda district Relatively low capital costs No environmental or other issues Opportunities to optimise various aspects

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Exploration Potential
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Camelwood (35kt Ni) Cannonball Musket (37kt Ni) Cutlass Sabre Mt Tate Tomahawk Horatio

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Discovery Cost ~4.8 cents/lb (cf. Sirius 4.0 cents/lb) Drill targets defined at Cutlass, Sabre, Mt Tate, Tomahawk and Horatio Sabre discovered in March 2015 – more drilling required before resource status RC drilling program planned to test other targets Fresh Ni sulphides intersected in aircore at Mt Tate – high priority target Persistence pays – detailed aircore and geophysics Kambalda-style deposits occur in clusters with many deposits 25km of strike – more untested potential Short term aim is to at least double or triple known resources

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Sabre Prospect
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Target Zone
Sabre is a “look-a-like” to Camelwood
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More drilling required to fully assess potential

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Resource Comparisons
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Rox resource grade is middle of group Rox resource inventory has potential to grow Expect larger resource inventory at similar grade

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Reward Zinc Project
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Teena Zn Discovery

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Owned by Rox (49%) and Teck Resources (51%) Teck earning-in to 70% by funding $15m ($12.4m spent) Excellent infrastructure including bitumen road, gas pipeline, major airport, ship loader, port

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Teena Drilling
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38.8m @ 16.9% Zn+Pb

200m

26.4m @ 13.3% Zn+Pb 200m

20.1m @ 15.0% Zn+Pb 300m 35.4m @ 13.2% Zn+Pb 200m

1,300m+ of HG

20.3m @ 13.9% Zn+Pb

400m 14.7m @ 13.3% Zn+Pb

19.4% Zn, 2.9% Pb 21.3% Zn, 3.4% Pb

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One hole to come
Drill results at 6% Zn+Pb cut-off or higher
200m
300m
400m
200m
200m
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22.1% Zn, 3.8% Pb 22.0% Zn, 4.0% Pb 24.2% Zn, 4.1% Pb

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Stacked Cross Sections
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~400-600m

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Stacked Cross Sections
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~400-700m

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Stacked Cross Sections
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~500-800m

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Stacked Cross Sections
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~5001,000m

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Teena Cross Section
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400-

1,000m

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Large stratiform mineralised system; Overall >1.9km strike x 800m wide x 250m thick; plunging east 1,000m around hinge 400-1,000m depth High Zn:Pb ratio = 6.5:1

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Exploration Target

60 - 80Mt @ 11 - 13% Zn+Pb* (6-10 Mt, 13-22 Blb contained zinc-lead)

This Exploration Target is conceptual in nature, but based on reasonable grounds and assumptions. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

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Bonya Copper Project
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30.5Mt @ 1.1% Cu, 23 g/t Ag

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New high grade copper sulphide discovery at Bonya Mine prospect Multiple drill targets ready to be tested

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Rox 51% and earning to 70% for $1 million (by Dec 2016)

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Historic Mining
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Jervois

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Bonya

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Bonya Prospect
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Copper sulphide intercepts[] 11m @ 4.4% Cu , incl. _3m @ 6.1% Cu_ 38m @ 4.4% Cu , incl. _6m @ 8.8% Cu*_ and

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8m @ 7.9% Cu

TARGET

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5m @ 9.1% Cu , incl. 3m @ 13.4% Cu and 11m @ 3.9% Cu Open at depth/down plunge

ASX:20 October 2014, 5 November 2014, 1 December 2014

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Planned Drilling
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Green Hoard

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Fat Cow

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Commodity Prices?
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Acknowledgement to Alan Trench of CRU

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Prices Below LRMC
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LRMC = Long Run Marginal Cost (last 30 years)

Acknowledgement to Alan Trench of CRU

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Commodities - 2015
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Acknowledgement to Alan Trench of CRU

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Zinc
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Supply Reductions (ktpa) Glencore -500 kt Century -500 kt Lisheen -180 kt Skorpion -160 kt Others -190 kt -1,530 kt

New Supply (ktpa) Gamsberg +250 kt Dugald River +200 kt +450 kt

Balance -1,080 kt 9% of global supply

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Acknowledgement to Alan Trench of CRU

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Copper
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Acknowledgement to Alan Trench of CRU

Nickel Stocks

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LME Stocks ~450kt (~85 days consumption)
Economic uncertainty surrounding direction of interest rates & global growth
Chinese equity, debt and economic concerns

Acknowledgement to Carey Smith of Alto Capital

Nickel Price/Costs

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Price floor historically around the 90[th] percentile of C1 costs
90[th] percentile C1 costs currently ~US$6.60/lb (~US$14,500t)
Sep Quarter Average Price US$4.80/lb
Over short periods (6 – 18mths) nickel price can fall through 90[th] C1 cost

Acknowledgement to Carey Smith of Alto Capital

Nickel Price Cycles

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	From Date	Price (US$/lb)	To Date	Price (US$/lb)	Price Change (%)	Duration (mths)
A - B	May-85	$2.65	Jan-87	$1.60	-40%	20
B – C	Jan-87	$1.60	Apr-88	$8.15	+409%	15
C – D	Apr-88	$8.15	Sep-93	$1.80	-78%	64
D – E	Sep-93	$1.80	Jan-95	$4.65	+158%	16
E – F	Jan-95	$4.65	Dec-98	$1.70	-63%	46
F – G	Dec-98	$1.70	Mar-00	$4.85	+185%	15
G – H	Mar-00	$4.85	Nov-01	$2.05	-58%	20
H – I	Nov-01	$2.05	Jan-04	$8.05	+293%	26
I – J	Jan-04	$8.05	Nov-05	$5.20	-35%	22
J – K	Nov-05	$5.20	May-07	$24.50	+371%	18
K – L	May-07	$24.50	Mar-09	$4.25	-83%	22
L – M	Mar-09	$4.25	Feb-11	$13.10	+208%	23
M - N	Feb-11	$13.10	Aug-15	$4.30	-67%	53
N –O	Aug-15	$4.30	Mar-17	$9.70 - $17.20	125% - 300%	19

Average negative price move -60%
Average positive price move +270%
Average price up or down duration = 28 months

Acknowledgement to Carey Smith of Alto Capital

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Commodities - Forecast
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Acknowledgement to Alan Trench of CRU

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Company Snapshot
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Camelwood Ni Musket Ni
Discovery Discovery
Teena Zn Ni Resource Bonya Cu
Discovery Doubled Discovery
+150%
Major Shareholders (24 Nov 2015)
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Rox Capital Structure (24 Nov 2015)

ASX Code:

RXL

Issued Shares: 1,112.2 m

Unlisted Options:

45.3 m

Market Cap: $16.7 m (at 1.5c) Cash: $0.657 m ( 30 Sept ) + $2.6m ( CR )

Experienced Board & Management

Jeff Gresham Non-Exec Chairman (retiring)[Geologist: WMC, Wiluna Mines, Homestake ] Ian Mulholland Geologist: WMC, Esso, Otter, Archaean Gold, Summit, Managing Director Anaconda Nickel, Conquest Brett Dickson Accountant: Archaean Gold, Vulcan Resources Finance Director Stephen Dennis Operations/Commercial: CBH, Anaconda Nickel, MIM Non-Exec Chairman (elect)


	Major Shareholders (24 Nov	2015)
	Drake Private Investments (NY)	3.6%
	Yangang (Hong Kong)	3.0%
	*Top 20* Number of Shareholders	*~28.0%* *~3,700*

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Markets - XSR
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Acknowledgement to Barry Dawes of Paradigm Securities

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Markets - Gold
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Acknowledgement to Barry Dawes of Paradigm Securities

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Successful Explorer
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In last ~3 years – 4 new nickel sulphide deposits, 1 large zinc deposit, and a new copper discovery
Fisher East is a new nickel sulphide province – growing in size and moving towards development
new
Teena is a significant zinc discovery – in JV with a Major
Bonya is a new high grade copper discovery –more to be found Recently awarded Australian Mining Explorer of the Year Out-performing the Small Resources Index

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Disclaimers
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Forward-Looking Statements

This presentation has been prepared by Rox Resources Limited. This document contains background information about Rox Resources Limited current at the date of this presentation. The presentation is in summary form and does not purport be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

Competent Person Statements

The information in this report that relates to nickel Mineral Resources for the Mt Fisher project was reported to the ASX on 3 October 2013 and 4 September 2014 and is available to view at www.asx.com. Rox confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

The information in this report that relates to previous Exploration Results and Mineral Resources for the Mt Fisher Gold-Nickel, Reward Zinc-Lead, and Bonya Copper projects, was either prepared and first disclosed under the JORC Code 2004 or under the JORC Code 2012, and has been properly and extensively cross-referenced in the text to the date it was first reported. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. In the case of the 2004 JORC Code Exploration Results and Mineral Resources, they have not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

To the fullest extent permitted by law, Rox Resources Limited, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Rox Resources Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Rox Resources Limited does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

Thanks to Jeff Gresham

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Rox Resources Limited Level 1, 30 Richardson Street, West Perth, WA, 6005 AUSTRALIA

T: (08) 9226 0044 F: (08) 9322 6254 E: [email protected] W: www.roxresources.com.au

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The End

Rox Resources Limited Level 1, 30 Richardson Street, West Perth, WA, 6005 AUSTRALIA T: (08) 9226 0044 F: (08) 9322 6254

E: [email protected] W: www.roxresources.com.au

AI assistant

ROX RESOURCES LIMITED AGM Information 2015

65741_rns_2015-11-25_9c08a10a-b3ab-45b9-858a-96978f31508f.pdf

Successful Base Metals Exploration

38.8m @ 16.9% Zn+Pb

Green Hoard

Nickel Stocks

Nickel Price/Costs

Nickel Price Cycles

Experienced Board & Management

Forward-Looking Statements

Competent Person Statements

Thanks to Jeff Gresham

The End

AI assistant

ROX RESOURCES LIMITED — AGM Information 2015

65741_rns_2015-11-25_9c08a10a-b3ab-45b9-858a-96978f31508f.pdf

Successful Base Metals Exploration

38.8m @ 16.9% Zn+Pb

Green Hoard

Nickel Stocks

Nickel Price/Costs

Nickel Price Cycles

Experienced Board & Management

Forward-Looking Statements

Competent Person Statements

Thanks to Jeff Gresham

The End

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ROX RESOURCES LIMITED AGM Information 2015