ROX RESOURCES LIMITED — Capital/Financing Update 2013

Apr 28, 2013

ROX RESOURCES LIMITED – 22 December 2011

ASX/MEDIA RELEASE

29 April 2013

CAMELWOOD DRILLING UPDATE

Highlights

• Thicker drill intersections such as 7.4m @ 1.9% Ni continue

• High grade drill results, including 1.45m @ 3.6% Ni, 0.68m @ 5.9% Ni, and 0.74m @ 3.8% Ni

• Geological model confirmed

• Heritage survey completed and PoW approved for newly granted exploration licence E53/1716

Rox Resources Limited ( ASX: RXL ) (“ Rox ” or “ the Company ”) is pleased to advise further drill results from its Camelwood nickel sulphide prospect at Fisher East, located 450km north of Kalgoorlie in Western Australia (Figure 1).

Geological Model

Continued drilling has allowed interpretation of the geological setting as that of a typical komatiite-hosted (Kambalda type) nickel sulphide deposit.

All of the nickel sulphide mineralisation occurs at or near to the “basal contact” of an intensely talc-carbonate altered, high-magnesium ultramafic rock (komatiite lava flow) with the stratigraphic footwall felsic sediment. Stratigraphically above the high-magnesium komatiite flow is a sequence of lower magnesium komatiite flows overlain by a sequence of mafic rocks (lavas and possible intrusive sills).

The mineralised zone itself is zoned, with a stratigraphically lowermost massive sulphide zone overlain by a semi-massive (matrix) sulphide zone and then an uppermost disseminated sulphide zone, hosted within the intensely talc-carbonate altered highmagnesium ultramafic rocks. Due to faulting and other structural complications not all of these mineralised zones are present in all holes.

The evolving understanding of the geological setting of the deposit will greatly assist in planning and optimising ongoing drill programs.

Drilling to date at Camelwood has been undertaken with two main aims:

1. To define the lateral extent of mineralisation (along strike) and to characterise the mineralisation at depth.

2. To define lenses/pods of thicker, higher grade mineralisation.

That approach has been highly successful with an 800m strike length defined and mineralisation drilled down to approximately 400m below surface on selected sections. Of

Rox Resources Limited ABN 53 107 202 602 RRL1230D-IM Level 1, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 9226 0044 Facsimile: +61 8 9322 6254 Email: admin@roxresources.com.au

ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

the 42 holes drilled to date (18 diamond core and 24 RC) only 4 have not intersected significant nickel mineralisation. The limits of the mineralised system have yet to be defined both along strike and at depth. This is clearly an extensive and continuous mineralised system.

The drilling to define thicker higher grade mineralisation has also been successful where two broad areas of mineralisation have now become apparent at Camelwood, termed the Main Zone and the Northern Zone (Figures 2 & 3).

Recent drilling has concentrated on the Northern Zone where a potentially thicker higher grade zone of mineralisation is present. It is defined by such holes as MFEC010 (18m @ 1.53% Ni), MFEC021 (19m @ 1.3% Ni) and new hole MFED014: 7.4m @ 1.9% Ni , including 1.45m @ 3.6% Ni from 130.6m (see Figures 2 & 3 and Table 1).

The Main Zone is defined by holes such as MFED001 (11.4m @ 2.9% Ni), MFED002 (16.3m @ 1.8% Ni), MFED005 (5.7m @ 2.25% Ni), MFED008 (1.8m @ 2.8% Ni) and MFED010 (6.15m @ 3.3% Ni). This mineralisation forms a zone that is interpreted to plunge north (Figures 3 & 4) and is still open at depth. Already it has the dimensions to be a potentially economic zone of mineralisation.

Recent Results

Main Zone

Diamond Drilling

Assays from diamond holes MFED011 and 012 (refer to Figures 2 & 3) have been received, and results above a 1% Ni cut-off are:

MFED011: 0.27m @ 1.9% Ni from 293.71m

MFED012: 0.74m @ 3.8% Ni from 375.68m

These holes, some 250m apart and both still strongly mineralised, fit with the company’s interpreted model and may define the upper and lower limits of the thicker higher grade zone so far defined in the limited portion of the Main Zone drilled to date (Figures 3 & 4). The mineralisation in hole MFED012 was truncated by a fault while still in massive sulphide mineralisation, so the full sulphide section (massive - semi massive – disseminated) was not represented.

RC Drilling

Assays from RC holes MFEC022 and 024 (see Figures 2 & 3) have been received, and results above a 1% Ni cut-off are:

MFEC022: 1m @ 2.6% Ni from 186m

MFEC024: 4m @ 1.3% Ni from 144m, and 4m @ 1.0% Ni from 155m

These results continue to define the prospective horizon, but were aimed at or above the top of the main EM conductive zone (Figures 3 & 4). Hole MFEC024 probably defines the top edge of the Main Zone; along with other RC holes such as MFEC004 (20m @ 1.06% Ni), MFEC003 (5m @ 1.45% Ni and 3m @ 1.72% Ni) and MFEC020 (5m @ 1.8% Ni and 2m @ 1.5% Ni).

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

Northern Zone

Diamond Drilling

Assays from diamond holes MFED013 and 014 (refer to Figures 2 & 3) have been received, and results above a 1% Ni cut-off are:

MFED013: 0.68m @ 5.9% Ni from 140.87m

MFED014: 7.4m @ 1.9% Ni , including 1.45m @ 3.6% Ni from 130.6m

These holes were drilled between RC holes MFEC010 and 021 described above, and indicate a wider zone of mineralisation within an extensive area of narrow shallow high-grade mineralisation.

RC Drilling

Assays from RC hole MFEC023 (see Figures 2 & 3) have been received:

MFEC023: 19m @ 0.44% Ni (lightly disseminated zone) from 101m

This hole continues to geochemically define the prospective horizon in the Northern Zone, and further drilling along strike to the north is planned.

Camelwood North

Testing of the deeper Camelwood North EM conductor located approximately 500m north of Camelwood on section 7036700N was completed recently as diamond hole MFED017. Assays are pending.

Drilled as a “wildcat exploration hole”, it intersected a number of strong sulphidic zones (pyrite and pyrrhotite) however nickel sulphides were not present. The zones of pyrite and pyrrhotite occur at geological contacts that could be stratigraphically favourable for development of nickel sulphides along strike or down dip. Downhole EM surveys in this hole are planned in the near future.

Looking Forward

Diamond drilling is continuing at Camelwood. New holes recently drilled are shown on Figures 2 & 3.

The drilling rig has now moved back to the Main Zone and is drilling on section 7036000N (viz. holes MFED018 and 019) down plunge of the high grade and thicker intersections in holes MFED010 and 001.

Further diamond drilling will now focus on extending and defining the thicker and higher grade zone in the Main Zone that is interpreted to be plunging north from holes MFED002 through MFED001 and MFED010 (Figures 3 & 4).

In addition, step back drilling on the newly granted Exploration Licence E53/1716 to test the southern and deeper portions of the Main Camelwood EM conductor is now able to commence as the heritage survey has been completed and the Program of Works (PoW) has been approved by the WA Department of Mines and Petroleum.

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

After a recent three week break RC drilling will re-commence shortly to test for further strike extensions to the north and south of currently identified mineralisation .

Downhole EM surveys are planned in diamond holes MFED016, 017, 018 and 019.

ENDS

For more information:

Shareholders

Media

Ian Mulholland Managing Director Tel: +61 8 9226 0044 admin@roxresources.com.au

Tony Dawe / Belinda Newman Professional Public Relations Tel: + 61 8 9388 0944 tony.dawe@ppr.com.au / belinda.newman@ppr.com.au

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

Table 1: Camelwood RC Drilling Results (new results shown in bold)

Hole	East	North	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval	Ni%
MFEC001	355899	7035798	162	-70	270	130	133	3	1.27
		Including				130	132	2	1.58
MFEC002	355956	7035802	242	-75	270	212	216	4	1.99
MFEC003	355986	7035594	172	-65	270	141	146	5	1.45
		And				152	155	3	1.72
		Including				152	154	2	2.22
MFEC004	355974	7035692	182	-60	270	159	179	20	1.06
		Including				159	165	6	1.36
		Including				169	174	5	1.49
MFEC005	355903	7035893	187	-60	270	147	148	1	2.99
MFEC006	355994	7035506	150	-65	270	126	126	1	2.48
MFEC007	355854	7035998	150	-60	268	118	121	3	1.82
MFEC010	355829	7036103	150	-60	270	118	136	18	1.53
		Including				119	128	9	2.04
MFEC012	355832	7036200	168	-70	270	153	154	1	1.10
MFEC013	355818	7036247	162	-60	270	Terminated short of target
MFEC015	355845	7036059	162	-60	270	125	130	5	1.33
MFEC016	355881	7035958	156	-60	270	129	133	4	1.11
MFEC017	355720	7036259	86	-60	270	NSR (gossanous 56-65m)
MFEC020	355928	7035750	174	-60	270	141	146	5	1.80
		Including				141	143	2	2.49
		And				157	159	2	1.49
MFEC021	355769	7036249	150	-60	270	105	124	19	1.32
MFEC022	355933	7035854	216	-60	270	186	187	1	2.55
MFEC023	355750	7036300	141	-60	270	101	120	19	0.44
MFEC024	355970	7035650	186	-60	270	144	148	4	1.27
		And				155	159	4	1.04
MFED001	355997	7035799	397.3	-75	270	282.6	294.0	11.4	2.93
		Including				282.6	289.0	6.4	3.80
		Including				282.6	285.5	2.9	4.66
MFEC002	355996	7035702	261.5	-75	270	211.7	228	16.3	1.79
		Including				211.7	218	6.3	2.53
		Including				212.0	212.47	0.47	5.42
MFED003	355991	7035593	210.9	-80	270	178.3	185.8	7.5	1.22
		Including				178.3	178.7	0.4	3.76
MFED004	355900	7036097	216.1	-60	270	197.3	214.4	17.1	0.47
MFED005	355995	7035900	421.3	-78	270	382.0	387.7	5.7	2.25
		Including				382.0	382.4	0.4	5.38
		And				384.6	387.7	3.1	3.37
		Including				384.6	386.3	1.7	4.64
MFED006	355995	7035900	346.2	-70	270	317.7	319.0	1.3	2.55
		Including				317.7	318.3	0.6	3.76
MFED007	356000	7035795	421.1	-85	270	388.7	389.9	1.2	5.20
		Including				388.7	389.4	0.7	7.79
MFED008	355999	7035850	376.3	-80	275	350.5	352.3	1.8	2.81

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

Including	Including	Including	Including	Including	Including	350.5	350.8	0.30	4.03
MFED009	355999	7035850	426.9	-85	270	401.66	403.70	2.04	1.61
Including						401.66	401.88	0.22	3.49
And						402.75	403.70	0.95	2.60
MFED010	355999	7035850	367.2	-72	270	341.11	347.26	6.15	3.30
Including						341.11	341.38	0.27	3.43
And						341.66	341.85	0.19	10.97
And						342.25	347.26	5.01	3.43
Including						342.25	343.89	1.64	5.81
MFED011	355999	7035850	316	-62	274	293.71	293.98	0.27	1.88
MFED012	355996	7035702	427.1	-90	270	375.68	376.42	0.74	3.84
MFED013	355823	7036149	171.45	-65	268	140.87	141.55	0.68	5.88
MFED014	355823	7036149	162.3	-55	268	130.60	138.00	7.40	1.89
Including						130.60	132.05	1.45	3.60

Notes:

• New results shown in bold .

• Grid coordinates GDA94: Zone 51, Collar positions determined by hand held GPS.

• All holes nominal RL 530 AHD.

• RC drilling (hole prefix MFEC) by reverse circulation face sampling hammer, then 1 metre samples split and bagged.

• Diamond drilling (hole prefix MFED) by HQ/NQ diamond core, with core cut in half and sampled to either significant geological boundaries or even metre intervals.

• Diamond drill samples weighed in water and air to determine bulk density, and then crushed to 6.5mm

• 3-5kg sample preparation by pulp mill to nominal P80/75um.

• Ni assays by ICP-OES following a 4 acid digest (Intertek analysis code 4A/OE).

• Certified Reference Standards and field duplicate samples were inserted at regular intervals to provide assay quality checks. Review of the standards and duplicates are within acceptable limits.

• Cut-off grade 1% Ni with up to 2m of internal dilution allowed (with the exception of holes MFED004 & MFEC023).

• Given the angle of the drill holes and the interpreted dip of the host rocks, reported intercepts will be more than true width.

==> picture [173 x 240] intentionally omitted <==

Figure 1: Project Location

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

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Figure 2: Camelwood Prospect Drill Hole Plan

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

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Figure 3: Camelwood Drill Long Section

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Figure 4: Camelwood Main Zone Long Section

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ROX RESOURCES LIMITED – ASX RELEASE 29 April 2013

About Rox Resources

Rox Resources Limited is an emerging Australian minerals exploration company. The company has four key assets at various levels of development with exposure to gold, nickel, zinc, lead, copper and phosphate, including the Mt Fisher Gold Project (WA), Myrtle/Reward Zinc-Lead Project (NT), the Bonya Copper Project (NT) and the Marqua Phosphate Project (NT).

Mt Fisher Gold-Nickel Project (100% + Option to Purchase)

The Mt Fisher gold project is located in the highly prospective North Eastern Goldfields region of Western Australia and in addition to being well endowed with gold the project hosts a strong potential for nickel. The total project area is 655km[2] , consisting of a 485km[2] area 100% owned by Rox and an Option to purchase 100% of a further 170km[2] .

Initial drilling by Rox has defined numerous high-grade targets and defined a Measured, Indicated and Inferred Mineral Resource of 973,000 tonnes grading 2.75 g/t gold to be defined for 86,000 ounces of gold (Measured: 171,900 tonnes grading 4.11 g/t Au, Indicated: 204,900 tonnes grading 2.82 g/t Au, Inferred: 596,200 tonnes grading 2.34 g/t Au).

Drilling at the Camelwood nickel prospect has intersected semi-massive to massive and disseminated nickel sulphide mineralisation in a number of holes along an 800m strike length and up to 350m depth, including 11.4m @ 2.9% Ni and 6.15m @ 3.3% Ni , with the mineralisation open in all directions.

Reward Zinc-Lead Project (Farm-out Agreement)

Rox has signed an Earn-In and Joint Venture Agreement with Teck Australia Pty Ltd. (“Teck”) to explore its 670km[2] Myrtle/Reward zinc-lead tenements, located 700km south-east of Darwin, Northern Territory. The Myrtle deposit has a current Inferred Mineral Resource of 43.6 Mt @ 5.04% Zn+Pb (Indicated: 5.8 Mt @ 3.56% Zn, 0.90% Pb; Inferred: 37.8 Mt @ 4.17% Zn, 0.95% Pb). Historic drill intercepts of sediment-hosted mineralisation exist at the Teena prospect, including 11.3m @ 10.9% Zn+Pb and 8.6m @ 9.84% Zn+Pb . Under the terms of the agreement, Teck are required to spend A$5m by 31 August 2014 to earn an initial 51% interest. Teck can increase its interest in the project to 70% by spending an additional A$10m (A$15m in total) over an additional 4 years.

Bonya Copper Project (Farm-in Agreement to earn up to 70%)

In October 2012 Rox signed a Farm-in Agreement with Arafura Resources Limited to explore the Bonya Copper Project located 350km east of Alice Springs, Northern Territory. Outcrops of visible copper grading up to 34% Cu and 27 g/t Ag are present. Under the agreement, Rox can earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and PGE mineral rights by spending $500,000 within the first two years. Rox can elect to earn a further 19% (for 70% in total) by spending a further $1 million over a further two years. Once Rox has earned either a 51% or 70% interest it can form a joint venture with Arafura to further explore and develop the area.

Marqua Phosphate Project (100%)

Rox owns four tenements covering approximately 1,900 km[2] in the Northern Territory which comprise the Marqua Phosphate project. The project has the potential for a sizeable phosphate resource to be present, with surface sampling returning values up to 39.4% P2O5 and drilling (including 6m @ 19.9% P2O5 and 5m @ 23.7% P2O5) confirming a 30km strike length of phosphate bearing rocks. In addition to phosphate, there is also potential for lead-zinc mineralisation. The project is located 300km southwest of Mt Isa, and is situated 250km from the nearest railhead and gas pipeline at Phosphate Hill.

Competent Person Statement:

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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