ROX RESOURCES LIMITED — Capital/Financing Update 2011

Apr 12, 2011

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ASX/MEDIA RELEASE

13 April 2011

MARQUA PHOSPHATE TENEMENTS GRANTED

HIGHLIGHTS

• Marqua phosphate project tenements granted for a period of 6 years.

• Large tenement holding of more than 2,400km[2] .

• Known phosphate occurrences along a 20km strike length.

• Surface sampling has recorded outcrop samples up to 39.4% P2O5.

• Drilling has recorded high grade intercepts, including:

2m @ 45.8% P2O5 5m @ 23.7% P2O5 6m @ 19.9% P2O5 3m @ 25.1% P2O5 2m @ 33.5% P2O5

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• Target resource* 50-100 Mt grading 15-20% P2O5.

• Potential for other styles of mineralisation including Mississippi Valley Type lead-zinc and hard rock uranium.

Rox Resources Limited (“Rox”, ASX: RXL) is pleased to announce the grant of two exploration licences in the Northern Territory at Marqua covering an area of more than 2,400km[2] .

The tenement area (Figure 1, above) is highly prospective, with high grade phosphate drill intersections already encountered and also recorded occurrences of base metals.

Rox Managing Director, Mr Ian Mulholland said “It is pleasing to receive the approval of these exploration licence applications so quickly, which should allow the company to commence field work at Marqua in the near future, dependant on weather conditions. Not only does the tenement area contain demonstrated phosphate mineralisation along a significant strike length, but there are also known base metal prospects. It really is a prime piece of exploration ground.”

Rox Resources Limited ABN 53 107 202 602 Level 1, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 6380 2966 Facsimile: +61 8 6380 2988 Email: admin@roxresources.com.au

RRL1061D-IM

ROX RESOURCES LIMITED – ASX RELEASE 13 April 2011

Phosphate Potential

Previous exploration of the area identified five phosphate prospects over a strike length of 20km with outcrops grading up to 39.4% P2O5 along a phosphorite horizon (Figure 2).

Previous drilling has intersected high grade phosphate mineralisation at Marqua, including several intersections above 20% P2O5 as listed in Table 1.

Table 1: Marqua Phosphate Drilling Results

Hole Number	From	To	Intersection	**P2O5% **	Prospect
QDA002	3	6	3	21.5	Foss Hill
QDA003	1	3	2	45.8	Foss Hill
QDA019	19	22	3	16.9	Red Heart
QDA027	21	24	3	21.0	White Hill
QDA045	32	38	6	19.9	Coquina Creek
QDA046	12	17	5	23.7	Coquina Creek
QDA068	0	5	5	26.1	Foss Hill
QDA070	9	12	3	25.1	Foss Hill

The drilling was, generally, wide-spaced (approximately 300m spacing along strike) and these are encouraging results, suggesting potential for a large, high grade resource.

A recent field visit allowed all of the phosphate prospective areas to be visited and surface Niton readings reproduced similar readings to those previously reported. The prospective phosphorite horizon occurs along a strike of over 20 km and at several places disappears under Aeolian sand cover, but is traceable using VTEM flown by a previous explorer (Figure 3).

The phosphorite horizon is also anomalous in uranium, and should be able to be traced using airborne radiometrics. The current NTGS regional scale radiometrics are not of sufficient quality/resolution for effective use, but surface scintillometer readings of phosphate bearing rocks were high.

Phosphate deposits in the Georgina Basin (Figure 4) generally cover large areas along relatively thin horizons (i.e. 1-7 metres thick) with the high grade DSO (direct shipping ore) of >30% P2O5 covering much smaller areas.

Given the results from surface sampling and the limited drilling to date there is potential at Marqua for a substantial phosphate resource target* above a 15% P2O5 cut-off, of 50-100Mt grading 15-20% P2O5 with zones of high-grade DSO contained within it.

Marqua is well situated to supply phosphate to the growing markets in Asia and North America. Phosphate is an essential component of fertilisers for the agricultural industries around the world. There are currently no substitutes for phosphate, so the demand should keep rising with the expansion of agricultural activities in the developing and developed world.

* The potential quantity and grade of the Target is conceptual in nature, and there has been insufficient exploration to define a Mineral resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

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ROX RESOURCES LIMITED – ASX RELEASE 13 April 2011

Base Metal Potential

Base metal mineralisation occurs at the Boat Hill prospect (Figures 3 & 5) where there are recorded occurrences of MVT-style (Mississippi Valley Type) zinc-lead (Zn-Pb) mineralisation including up to 1.15% Zn over 2m in channel chip samples. There has been previous drilling at Boat Hill in 1992 by MIM (Mt Isa Mines Ltd) for base metals (Figure 5), with the best cored intercepts about 2% Zn over 0.5m. The highest reported Pb is 1.8% over 2m from percussion drill samples. No analyses for P2O5 were undertaken.

Stratigraphic hole NTGS99/1 drilled by the NTGS in the Marqua area some 28km from the Boat Hill prospect intersected minor visible mineralisation with up to 1.02% Zn suggesting that the base metal anomalism and endowment in the Thorntonia Limestone might be widespread. This intersection together with the organic content of siltstone units in the sequence suggest that if appropriate structural/tectonic settings can be found, there is potential for SEDEX (sediment hosted) style base-metal mineralisation.

MIM drilled a total of 10 cored holes totalling 2,014.8m at Boat Hill in 1992 to follow up a SIROTEM (Time Domain Electromagnetic) geophysical survey. Minor occurrences of galena, sphalerite and pyrite were observed in the Thorntonia Limestone and Red Heart Dolostone in holes BHD4, 5 and 9. The highest combined assays were 0.83% Pb, 2.24% Zn and 2 g/t Ag from 530.9 to 531.4m in the Red Heart Dolostone in hole BHD9.

The Boat Hill prospect occurs adjacent to a major linear structure, the Toomba Fault (Figure 3), which is a large regional structure, and this fits the MVT model for mineralisation. The MIM drill core is available for re-sampling and re-assay. Therefore in addition to the phosphate potential, there is MVT and SEDEX style base-metal potential at Marqua, as well as undefined uranium potential (based on several untested airborne radiometric anomalies).

Looking Ahead

Compilation of previous data is almost complete to enable specific targets to be identified. Rox is planning to follow-up the drilling conducted so far with confirmatory surface sampling and then further drilling to expand the potential size of the deposit to enable a phosphate resource to be estimated. Follow up and assessment of the base-metal and uranium potential will also be undertaken.

• ENDS -

For More Information:

Ian Mulholland Managing Director Tel: +61 8 6380 2966 admin@roxresources.com.au

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ROX RESOURCES LIMITED – ASX RELEASE 13 April 2011

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Figure 2: Tenement Plan Showing Prospect Locations and Geology

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Figure 3: VTEM survey of Marqua area, showing Thorntonia Limestone outcrop (solid red line), faults (black dashed line), phosphate prospects and Boat Hill prospect locations

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ROX RESOURCES LIMITED – ASX RELEASE 13 April 2011

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Figure 4: Georgina Basin Showing Phosphate Deposits

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Figure 5: Boat Hill, which has recorded occurrences of MVT style Zn-Pb

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ROX RESOURCES LIMITED – ASX RELEASE 13 April 2011

About Rox Resources

Rox Resources (ASX: RXL) is an Australian exploration company with projects in the Northern Territory of Australia, including the Myrtle zinc-lead project and the Marqua phosphate project, and in Western Australia at the Mt Fisher gold-nickel project.

Rox has signed a joint venture agreement with Teck Australia Ltd to explore its Myrtle project tenements which cover 669 km[2] adjacent to the world class McArthur River zinc-lead deposit in the Northern Territory. The terms of the JV require Teck to spend $5 million to earn an initial 51% interest within 4 years including a minimum of $1 million and 2,000 metres of drilling by 21 July 2012. Teck can increase its interest in the project to 70% by spending an additional $10 million ($15 million in total) over an additional 4 years.

A SEDEX style deposit has been identified by Rox at the Myrtle prospect, where an Inferred Mineral Resource of 43.6 million tonnes grading 4.09% zinc and 0.95% lead has been delineated to JORC Code standards. Thick drill intercepts of prospective stratigraphy carrying significant zinc-lead 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 15.3 million tonnes grading 5.45% zinc and 1.40% lead is present, and a large mineralised system is indicated. Several other prospects in the tenement area have similar potential to Myrtle but are at an early stage of exploration.

Rox also owns 100% of the Marqua phosphate project in the Northern Territory located 300km south-west of Mt Isa. A 20 km long strike length of phosphate bearing rocks has been identified by surface sampling (up to 39.4% P2O5) and drilling (including 6m @ 19.9% P2O5 and 5m @ 23.7% P2O5), and there is the potential for a sizeable phosphate resource to be present. The project is located only 250 km from the nearest railhead and gas pipeline at Phosphate Hill.

At Mt Fisher in Western Australia, Rox has acquired a highly prospective area >600 km[2] , well endowed with gold, and with strong potential for nickel, only 40km to the east of the prolific Yandal greenstone belt and 100km east of the main Wiluna greenstone belt. Three parallel structures at the Dam-Dirks prospect define a 5km long gold-inregolith anomaly which is largely untested at depth. There are numerous high grade drill results over the project area including 1m @ 187 g/t Au and 3m @ 67 g/t Au at the Moray Reef prospect.

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.

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