ROX RESOURCES LIMITED — Capital/Financing Update 2005

Dec 4, 2005

ASX/MEDIA RELEASE 5 December 2005

ROX AGREEMENT WITH DE BEERS

Rox Resources (ASX: RXL) today announced a data licensing agreement with De Beers Consolidated Mines (De Beers) over an area of interest near the Company's Cyrus project near Kimberley in South Africa.

Rox Managing Director Mr Ian Mulholland said the De Beers agreement significantly strengthened the Company's potential to generate strong and profitable cash flow going forward.

"We believe this area poses sufficient value and economy of scale to progress quickly towards production," said Mr Mulholland.

"It's one foot in front of the other for us in South Africa – we assembled a quality portfolio of kimberlite projects in September, we forged a solid BEE partnership, and recently commenced bulk sampling at our Cyrus project," he said.

"Our strategy in South Africa of quickly achieving diamond production is now starting to take shape and gaining momentum."

The De Beers agreement allows Rox to acquire an exclusive licence to use De Beers exploration data over a 38 square kilometre area near Kimberley. Once fully evaluated the data will be used to acquire further tenements in the area.

The Zoutpansfontein area hosts a 2 hectare kimberlite pipe with a fissure extension and a number of unresolved geophysical anomalies. Although the pipe is rich in diamond-indicator (G10) garnets and has produced micro-diamonds from drill sampling, no bulk sampling has been undertaken.

The Langleg area hosts an 800 metre long, 10 metre wide, diamond-bearing kimberlite dyke, that apart from limited drilling for micro-diamond analysis has not been fully evaluated or bulk sampled.

All areas under consideration have been covered by an airborne magnetic survey at 250 metre line spacing and a helicopter-borne EM survey at 125 metre line spacing.

The area covered by the agreement (Zoutpansfontein, Langleg and Droogfontein) has a number of unresolved geophysical targets in favourable structural settings. These geophysical anomalies need to be tested for kimberlite and their diamond potential. Rox believes there is an opportunity for further kimberlite discoveries with economic potential.

Rox is planning a thorough assessment of the data before embarking on further exploration and development involving drilling and bulk sampling. Completion of a scoping study and/or prefeasibility study is targeted for mid-2006.

De Beers retains the right to clawback to a 65% interest in any project developed by Rox, resulting from the data licensed as part of the agreement, by refunding Rox three (3) times its expenditure. In such a case, De Beers would also have marketing rights for the diamonds.

Should De Beers not exercise its clawback right then it will be entitled to a 1% gross revenue rovalty on any diamonds produced from those projects developed as a direct result from the licensed data

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FOR FURTHER INFORMATION CONTACT:

Ian Mulholland Managing Director Tel: (08) 9486 4537 Ann Nahajski Porter Novelli Tel: (08) 9386 1233

or visit: www.roxresources.com.au

ABOUT ROX

Rox is a Perth-based exploration company with a portfolio of projects in Laos, South Africa and Australia.

In Laos, Rox is exploring the Pha Luang lead-zinc project where high grade drill intercepts of lead and zinc have been made, and has first right of refusal over a number of other prospective resource projects there. In South Africa, Rox has a number of alluvial and kimberlite diamond projects with bulk sampling now underway. Current resources at the historic million ounce Menzies aold project in Western Australia total 170,900 ounces grading 2.5 g/t gold.

ABOUT DE BEERS

De Beers is the world's largest producer and marketer of rough gem quality natural diamonds. In South Africa, the company's diamond mining activities are undertaken by its wholly-owned subsidiary, De Beers Consolidated Mines, which owns the Venetia, Finsch, Cullinan, Kimberley, Namaqualand, The Oaks and Koffiefontein diamond mines.

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Ian Mulholland B.Sc (Hons), M.Sc., F.Aus.I.M.M., F.A.I.G., F.S.E.G., who is a Fellow of The Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geoscientists. Mr Mulholland has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Mulholland is a full time employee of the Company and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Rox Kimberlite Projects Location Map