ROX RESOURCES LIMITED — Capital/Financing Update 2006

May 24, 2006

ASX/MEDIA RELEASE

25 May 2006

ROX FAST TRACKS DRILLING AT PHA LUANG AND FINDS NEW LEAD-ZINC ANOMALIES

Rox Resources Limited (ASX: RXL) ("Rox") is pleased to report two exciting new developments at its Pha Luang project in Laos as it prepares to fast track exploration at the highly prospective project.

Recent drill testing at the Bon Noi prospect has discovered a significant secondary mineralised blanket. Additionally to the south a large 500 x 300 metre lead-zinc soil anomaly with high-grade mineralisation has also been delineated within the newly discovered Switchback prospect.

Individual drill values at Bon Noi were recorded up to 3.8% Pb, 8.9% Zn and 73 ppm Aq, while values from samples taken from the Switchback anomaly are exceptionally high, ranging from 5.4% Pb and 3.5% Zn up to 5.5% Pb, 14.4% Zn and 71 ppm Ag in the outcrop.

The Switchback anomaly is separated from the Bon Noi anomaly by a steep scree slope where soil sampling is not possible. However outcropping high-grade sulphide mineralisation has been located in this area with values up to 77.1% Pb. 19.3% Zn and 456 ppm Ag indicating a continuous anomalous zone between Switchback and Bon Noi of 1,000 x 500 metres.

Based on Rox's exploration model, which was developed based on the recently reported discovery at the Nam Yen prospect, the high-grade soil anomalies can be displaced from their primary source because of the steep and incised terrain. This suggests that initial drilling at Bon Noi is very proximal to the sulphide mineralisation source.

Rox Managing Director, Mr Ian Mulholland, said the new discoveries have come hard-on-the-heels of earlier exciting discoveries at Pha Luang and the Company was working hard to capitalise on the continued exploration success.

"We remain confident in the strength of underlying demand for commodities such as zinc and lead, and in the high prospectivity of this region. As such, we will continue to dedicate a large majority of resources to what is proving to be highly successful project," Mr Mulholland said.

"The recent completion of $6 million capital raising has made it possible to source a second drill rig. Deployment of this second rig will allow us to concentrate on the newly defined mineralisation at the Nam Yen prospect, while at the same time continue to test Pha Luang's numerous other exciting targets as they become drill ready."

Following an equipment change, drilling is expected to recommence shortly at Nam Yen, while at Bon Noi road construction is also underway to prepare further drill sites to allow testing of a number of significant sulphide outcrops.

$FNDS -$

FOR FURTHER INFORMATION CONTACT:

lan Mulholland Managing Director Tel: (08) 9486 4537 Ann Nahaiski 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 and South Africa.

In Laos, Rox is exploring the Pha Luang lead-zinc project where high grade drill intercepts of lead and zinc have been made at the Nam Yen prospect, and has first right of refusal over a number of other prospective resource projects. Laos is a rapidly growing economy on the Indo-China peninsula, located close to markets in Thailand, China and Vietnam. Several Australian mining companies are enjoying outstanding success operating in Laos, benefiting from the policies of the very supportive government.

In South Africa, Rox has a number of alluvial and kimberlite diamond projects.

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.

HOLENUMBER	FROM	ТО	INTERVAL	Pb %	Zn %	Ag ppm	Pb+Zn %
PLR027	0	4	4	1.7	3.7	13	5.4
PLR028		No Significant Results
PLR029	$2^{\star}$	4	2	3.6	$2.2,$	61	5.8
	14	16	2	0.7	2.6	20	3.3
	21	24	3	0.6	2.3	14	2.9
PLR030	$2^*$	6	4	2.5	1.6	4	4.1
PLR031		No Significant Results
PLR032	No Significant Results

Bon Noi RC Drilling Results

Above 3% Ph+7n cut-off *Interval 0-2m not sampled. Assays pending for holes PLR033-036

Soil Anomaly Locations

Bon Noi - Switchback prospect, soil anomaly and rock sample locations