ROX RESOURCES LIMITED — Capital/Financing Update 2008

Jun 30, 2008

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ASX/MEDIA RELEASE

1 July 2008

ROX CONFIRMS DISCOVERY OF McARTHUR RIVER STYLE ZINC MINERALISATION

Rox Resources Limited (ASX: RXL, “Rox”) is pleased to confirm the discovery of significant zinclead mineralisation at the Myrtle prospect on the Reward project tenement in the Northern Territory (Figure 1).

Significant zinc-lead mineralisation in multiple horizons has been intersected in 3 of the 4 holes drilled to date (Figure 2). Assays have been received for only the top 230 metres of MY16, the first hole drilled by Rox, with significant results of:

• 19 metres grading 5.5% Zn+Pb from 179 metres depth, including 5 metres grading 9.0% Zn+Pb from 189 metres

• 4 metres grading 6.1% Zn+Pb from 160 metres depth,

• 4 metres grading 4.1% Zn+Pb from 217 metres depth

MY16 has further visual signs of mineralisation from 230 to 310 metres, for which assays are yet to be received.

The mineralised system at Myrtle remains under-explored with past drilling on average 800 metres apart, reducing to 400 metre spacing in the current drilling area. Continuity of mineralisation and geology is good indicating that the mineralised system is very large. In addition, interpretation of Rox’s drilling to date indicates that the mineralised zone subcrops. This provides for open pit potential and this near surface target will be investigated by further drilling.

The Reward tenement is located just 20km south of the McArthur River zinc-lead mine, which has a current reported resource of 157 Mt @ 11.3% Zn, 4.9% Pb, 49 g/t Ag; (Xstrata 2006 Annual Report).

DRILL RESULTS

Hole MY16 was completed at 410.5 metres depth. Good production rates and excellent diamond core recoveries were achieved.

Results received so far from hole MY16, above a 2.5 Zn+Pb% combined cut-off are:

• 19 metres grading 4.14% Zn, 1.34% Pb, 0.9g/t Ag from 179 metres depth, including, 5 metres grading 6.03% Zn, 2.94% Pb, 1.0g/t Ag from 189 metres.

• 4 metres grading 5.57% Zn, 0.49% Pb, 1.4g/t Ag , from 160 metres depth,

• 4 metres grading 3.01% Zn, 1.08% Pb, 1.0g/t Ag from 217 metres depth.

In addition to these extremely encouraging assay results, further mineralisation occurs from 230 to 310 metres down hole at varying intensity. Assays are awaited. True thicknesses are thought to be about half the down hole thickness.

Rox Resources Limited ABN 53 107 202 602 Ground Floor, 63 Hay Street, Subiaco WA 6008 Telephone: +61 8 6380 2966 Facsimile: +61 8 6380 2988 Email: admin@roxresources.com.au

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ROX RESOURCES LIMITED – ASX RELEASE 1 July 2008

Sulphide mineralisation occurs as sphalerite, galena and pyrite, within a well bedded calcareous shale unit (the HYC Pyritic Shale or equivalent), which dips steeply to the west at about 60[o] in the hole. This can be seen in the photograph of the core included as Figure 4.

The second drill hole, MY17, was completed at 497.5 metres depth. Initial observations have shown that the HYC Pyritic Shale (or equivalent) occurs from 345 to 484 metres down hole (139 metres in total), and zones of significant zinc-lead sulphide mineralisation have been observed within this interval. Dips of stratigraphy and mineralisation intersected in this hole suggest a more flat lying mineralised zone (Figure 3). Assays are awaited.

Hole MY18 was completed at 81.9 metres depth after appearing to drill into the footwall Teena Dolomite unit. The significance of this hole in confirming the steep dip in this area, is that the mineralised zone probably subcrops over at least 800 metres and presents a shallow near surface target to be investigated by further drilling.

The subcrop zone at Myrtle is possibly shown by the trace of an IP anomaly defined in a previous survey from 1967 (see Figure 2) which appears to trace the subcrop of the HYC Pyritic Shale (or equivalent) unit. This is also confirmed by recently completed preliminary soil sampling which shows a distinct coincident zinc-in-soil anomaly indicating additional subcrop potential of several hundreds of metres.

Hole MY19 was completed at 216.6 metres and drilled near the mineralised zone subcrop, intersecting visible mineralisation in the HYC Pyritic Shale from 145 to 170 metres down hole. The steep dips in this hole confirm the interpretation above. Assays are awaited.

The remaining holes in the program will be MY20 and 21, locations shown on Figure 2. At the completion of the current drilling campaign an area of at least 1,000 x 1,000 metres of potential mineralised zone will have been tested to a nominal drill spacing of about 400 x 400 metres. Given the current thickness of the mineralised intercepts and the large area over which mineralisation has been intercepted, the exploration target is very large. For comparison the McArthur River deposit of 157 Mt @ 16.2% Zn+Pb has a footprint of about 1,750 x 1,000 metres.

Rox has an option to purchase the Reward tenement from Rio Tinto Limited subsidiary North Mining Limited.

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For More Information:

Ian Mulholland John Phaceas Managing Director Porter Novelli Tel: +61 8 6380 2966 Tel: +61 8 9386 1233 admin@roxresources.com.au jphaceas@wa.porternovelli.com.au

About Rox Resources

Rox Resources (ASX: RXL) is an emerging Australian exploration company focussing on zinc-lead deposits, particularly deposits of the Mississippi Valley Type (MVT) and Sedimentary Exhalative Type (SEDEX).

Rox owns a 60% interest in the Pha Luang zinc-lead sulphide project in Laos which it believes has the potential to become a large new zinc-lead district. The project area covers a 20km² mining concession area and contains more than 20 MVT zinc-lead prospects. Rox is the first explorer to apply modern techniques to the area. Mineralisation is widespread with zinc and lead oxides and sulphides outcropping in various places along a strike length of over 10km.

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ROX RESOURCES LIMITED – ASX RELEASE 1 July 2008

Rox has been successful at defining mineralisation at a number of prospects in the Pha Luang project, with over 9,000 metres of drilling conducted so far. A number of very strong drill targets, and extensions to known mineralisation remain untested. Rox is now among several Australian mining companies enjoying success in Laos where the Government has stated its intentions to embrace mining as a priority industry. Rox maintains an exploration office in the Lao capital, Vientiane, to support the Pha Luang project.

Rox has an option to purchase the Reward project in the Northern Territory, which covers 379km[2] , and is Rox’s first SEDEX project. There is potential at the Myrtle prospect for a McArthur River style deposit to be delineated, where thick drill intercepts of prospective stratigraphy carrying significant zinc-lead grades have already been made. IP surveying, soil sampling and geologic interpretation indicate the potential for shallow near surface mineralisation. Other prospects in the tenement area are at an early stage.

Rox also has an option to joint venture a large 2,600km[2] holding of ground on the Lennard Shelf in Western Australia. The Lennard Shelf is a known MVT province with past production, and has a mineral resource endowment of about 40 million tonnes at about 10% zinc equivalent grade.

Rox continues to actively review potential new opportunities, particularly zinc-lead projects in Australia and South East Asia.

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, MAICD, 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.

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Figure 1: Reward Project location

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ROX RESOURCES LIMITED – ASX RELEASE 1 July 2008

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Figure 2: Myrtle Prospect Drill Plan, showing previously interpreted geology, IP anomaly location, and cross-section line A-A’

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Figure 3: Myrtle Prospect Cross Section A-A’ showing drill intercepts

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ROX RESOURCES LIMITED – ASX RELEASE 1 July 2008

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Figure 4: MY16, 189.1 metres depth, showing banded sphalerite (light yellow colour). Scale is in millimetres.

Table 1: Drill Location Details

Hole	East	**North **	**Azimuth **	Dip	Depth (m)
MY16	610080	8167065	090	-80	410.5
MY17	609500	8167000	090	-80	497.5
MY18	610200	8166800	090	-80	81.9
MY19	609800	8166600	090	-80	216.6

All holes have a nominal RL of 55m AHD. Grid is GDA94, Zone 53.

Notes:

Diamond drill core was oriented down hole and structural measurements made to determine dip and strike of units. Core recoveries were excellent. Core was sawn in half and one half was submitted to ALS Laboratories in one metre intervals for analysis using a four acid digest followed by method ME-ICP61s. High grade samples (>1% Zn or Pb) were re-analysed by method OG62.

Hole intercepts are quoted at a 2.5% Zn+Pb combined lower cut-off, with a minimum width of 2 metres and maximum internal dilution of 2 metres. Weighted average grades are stated. In hole MY16 true widths are approximately 50% of down hole thickness due to the 60 degree dip.

Hole locations were surveyed by GPS in the field and holes oriented perpendicular to the mineralised trend as far as practical and was known at the time.

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