ROX RESOURCES LIMITED — Capital/Financing Update 2006

Nov 28, 2006

ASX/MEDIA RELEASE

29 November 2006

ROX OUTLINES NEW HIGH-GRADE SOIL ANOMALIES AND TO COMMENCE DRILLING IN LAOS

Rox Resources Limited (ASX: RXL) ("Rox") has outlined two large high-grade soil anomalies at the Pha Sod 1 prospect on its Pha Luang lead-zinc project in Laos.

Anomaly 1 is outstanding; grading in excess of 5% combined Pb+Zn, over an area of 400 x 200 metres. Anomaly 2 covers an area of 300 x 100 metres and grades above 4% combined Pb+Zn. Figure 1 details the anomalies and values, while Figure 2 shows the location of the Pha Sod 1 prospect.

A total area of 600 x 500 metres has been sampled so far, with most soil samples grading greater than 1% combined Pb+Zn, with a peak value of 21% combined Pb+Zn in the soils.

Accompanying the soil values are a number of high grade rock chip samples, up to 19.5% Pb, 33.8% Zn, and 166 g/t Ag.

Rox Managing Director, Mr Ian Mulholland said the soil anomalies were the highest outlined so far at Pha Luang, and the geological setting looked suitable for the development of a significant leadzinc sulphide zone."

"Surface samples contain not only lead sulphide (galena), but for the first time we are also seeing significant quantities of zinc sulphide (sphalerite) in the samples. The rock textures are classic Mississippi Valley Type", Mr Mulholland said.

These excellent results come from an aggressive exploration programme which commenced about 6 weeks ago at Pha Luang, and the new soil anomaly at Pha Sod is the first result of that. A drilling rig has been mobilised to Pha Luang, and will commence drilling shortly at the Nam Yen prospect where previous drilling intersected significant sulphide mineralisation, including 33 metres at 11.4% combined Pb+Zn.

During the current field season (October 2006 to June 2007) Rox has approximately 7,000 metres of drilling planned to test at least 5 different anomalies, and has budgeted around A\$2.4 million for its exploration programme. Apart from the drilling, extensive soil and rock chip sampling surveys are planned to extend the geochemical coverage over the tenement area, where around 20 prospects have been identified.

"We have a number of other areas that we are sampling now, or will sample over the next 3 months, which look just as encouraging as the Pha Sod 1 area. Once we've done enough preparatory work, we'll bring the drill rig in to test these targets", Mr Mulholland said.

Test work conducted on drill core during the recent Laos wet season has established that the Induced Polarisation (IP) geophysical technique should be a viable exploration tool. Several IP surveys are planned, and if successful, will help further define drilling targets.

The soil sampling at Pha Sod 1 was conducted at a nominal spacing of 40 x 40 metres, and is part of a larger survey being undertaken in the north-western part of the Mining Concession area. Samples of B horizon soil were collected from between 15 and 20 centimetres depth and assaved at ALS Chemex in Brisbane.

A coloured contoured plan of the results received so far is displayed below, along with the rock chip sample assays. The highest grade soil anomaly area (coloured red) has several outcrops of lead and zinc sulphides and oxides over a strike length of about 200 metres.

The northern limit of soil sampling is defined by a steep slope where sampling was not possible. About 300 metres further north (at the top of the slope) is another area of outcropping sulphide and oxide mineralisation, where soil sampling has not yet been undertaken.

The second high grade zone (Anomaly 2) running east-west (at about 2118600N) in the south of the sampled area is still relatively unexplored.

"The blue areas on the soil plan (darker areas in B&W) are still largely greater than 1% combined Pb+Zn, which makes this area really interesting," Mr Mulholland said.

Figure 1: Pha Sod 1 Soil Geochemistry

Figure 2: Prospect Locations

Pha Sod 1 - Colloform layers of galena (silver colour), sphalerite (yellow-brown) and calcite (white)

Pha Sod 1 - Brecciated limestone with galena-sphalerite infill (dark material) and calcite (white). Original rock fragments are a dull grey colour.

• ENDS -

FOR FURTHER INFORMATION CONTACT:

lan Mulholland Managing Director Tel: (08) 6380 2966 Jim Hawtin Porter Novelli Tel: (08) 9386 1233

or visit:

www.roxresources.com.au

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr lan 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 sufficien 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.