ROX RESOURCES LIMITED — Capital/Financing Update 2009

Jul 9, 2009

ASX/MEDIA RELEASE

10 July 2009

RENOUNCEABLE RIGHTS ISSUE

The Board of Rox Resources Limited (ASX: RXL) ("Rox") is pleased to announce that it intends to undertake a renounceable rights issue of one (1) new Share for every one (1) existing Share held by shareholders, at an issue price of \$0.015 together with one (1) free attaching new Option for every ten (10) new Shares taken up. The Options will be exercisable at \$0.015 each on or before 31 July 2011.

The rights issue seeks to raise \$1,628,706 before costs from the issue of 108,580,426 new Shares.

Net proceeds will be used to provide general working capital and funds for the ongoing exploration on the Company's Myrtle project.

Rox is presently finalising an underwriting agreement and a transaction specific prospectus which will include the full details of the rights issue.

Subject to finalisation of the formal underwriting agreement, it is intended that the rights issue will be underwritten by Patersons Securities Limited.

Further information, including the proposed timetable, will be announced as soon as all documentation is finalised.

$-$ ENDS $-$

For More Information:

lan Mulholland Managing Director Tel: +61 8 6380 2966 admin@roxresources.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 100% of the Reward project tenement which covers 379km² adjacent to the world class McArthur River zinc-lead deposit in the Northern Territory. A SEDEX style deposit has been identified by Rox at the Myrtle prospect, where an Inferred Mineral Resource of 38 million tonnes grading 4.2% Zn and 1.0% Pb has been delineated. Thick drill intercepts of prospective stratigraphy carrying significant zinclead grades have already been made but only a small portion of the prospective area has been drilled. and Rox is extremely confident the resource will to continue to grow with further drilling. A higher grade core of 15 million tonnes grading 5.5% Zn and 1.5% Pb is present, and a large mineralised system is indicated.

IP and EM geophysical surveying, soil sampling and geologic interpretation also indicate the potential for shallow near surface mineralisation which may be exploitable by open pit mining. Several other prospects in the tenement area have similar potential to Myrtle but are at an early stage of exploration.

Rox continues to actively review potential new opportunities, particularly 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.