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ROX RESOURCES LIMITED Capital/Financing Update 2007

Apr 3, 2007

65741_rns_2007-04-03_026628d2-7c4f-4a6e-a76c-659b7063e0fa.pdf

Capital/Financing Update

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ASX/MEDIA RELEASE

4 April 2007

ROX COMMENCES IP SURVEYS AND FURTHER DRILLING IN LAOS

Rox Resources (ASX: RXL, "Rox") advises that phase 2 of its 2007 drilling campaign at Pha Luang in Laos has commenced.

Phase 1 of the RC drilling campaign was completed in January and successfully extended high grade mineralisation at the Nam Yen prospect (e.g. 19 metres grading 7.0% combined Zn+Pb and 5 metres grading 13.8% Zn+Pb) together with intersections of significant sulphide mineralisation at the new Pha Sod prospect (e.g. 20 metres @ 1.2% Zn). Following these results the drill rig was stood down to enable the completion of IP surveys over the prospective areas and preparation of additional drill pads in the rugged terrain.

Phase 2, which commenced on the weekend of 31 March will target further extensions at the Nam Yen prospect (Figure 1) and the area of mapped breccia at Pha Sod (Figure 2) where higher zinc grades are expected.

Also the new Pha Daeng prospect which has outcropping zinc and lead oxides and sulphides, and a large high-grade soil anomaly (Figure 3) will be drilled.

In addition Rox is in the final stages of completing IP surveys over a number of prospective areas and it is expected that these will also identify a number of drill targets.

$-$ ENDS $-$

For more information:

lan Mulholland Managing Director Tel: +61 8 6380 2966 [email protected]

Ann Nahajski or Jim Hawtin Porter Novelli Tel: +61 8 9386 1233 [email protected]

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Ian Mulholland BSc (Hons), MSc, FAusIMM, FAIG, FSEG, 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.

About Rox Resources

Rox owns a 60% interest in the Pha Luang zinc and lead project and represents a ground floor entry into a potentially globally significant Mississippi Valley Type (MVT) zinc and lead district in Laos. The project area covers a 20km2 mining concession area, and given the limited exploration at the project so far, represents a substantial greenfields exploration opportunity.

Significant drill intercepts have been made of sulphide zinc and lead mineralisation at the Nam Yen prospect, including 33 metres at 11.4% combined Zn+Pb and 19 metres at 8.6% combined Zn+Pb and 13 metres at 7.9% combined Zn+Pb.

The Company believes the project represents an emerging MVT district that could host a number of rich zinc and lead deposits similar to other major MVT districts in the world. MVT deposits can be big (25-100Mt) and have excellent metallurgical qualities. The best known example of these in Australia are the Lennard Shelf deposits, which hosted in excess of 40 million tonnes grading at better than 10% zinc and lead.

Rox is well managed by a Board and management team with significant experience and a successful track record in the resources sector. The company is currently involved in a $2.2 million exploration program at Pha Luang involving 7,000 metres of drilling, extensive soil sampling, and geophysical surveys, aimed at demonstrating sulphide mineralisation in a number of areas.

As well as the Company's successful exploration efforts at the Pha Luang project, extensions of the outcropping mineralisation at Pha Luang are known to exist for at least 5-10 km outside of the Company's joint venture area. Rox has made application in its own right to cover the unpegged part of this; in total 300km2 of unexplored prospective ground. The Company also has first right of refusal over a number of other prospective resource projects in Laos, and is actively looking for additional resource projects.

To facilitate Rox's aggressive exploration and development strategy in Laos, Rox divested its gold (WA) and diamond (South Africa) projects. The Company currently has a strong cash position of $4.5 million.

Rox in Laos

Located on the Indo-China Peninsula, close to markets in Thailand, China and Vietnam, the Lao economy is growing rapidly as the country moves from a centrally planned economy to a more market orientated one. With its excellent geological potential, where Rox is among several Australian mining companies enjoying outstanding success; the Lao Government has stated its intentions to embrace mining as a priority industry. Rox has strong ties with local Lao businesses and the community as well as good relations with the Lao Government.

Figure 1: Pha Luang Prospect Location Plan

Figure 2: Pha Sod Drill, Soil Sample Contour and Rock Chip sampling plan

Figure 3: Pha Daeng area soil sampling plan showing possible mineralised structures