ROX RESOURCES LIMITED

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ASX ANNOUNCEMENT

ASX: RXL

Address: Level 1 30 Richardson Street WEST PERTH WA 6005

PO Box 1167 West Perth WA 6872

Ph: (61 8) 9226 0044 Fax: (61 8) 9325 6254

Email: [email protected]

Web:

www.roxresources.com.au

ABN: 53 107 202 602

Projects:

Mt Fisher: nickel-gold (100%)

Reward: zinc-lead (49%)

Bonya: copper-silver (earning up to 70%)

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26 NOVEMBER 2014

MUSKET EXTENDED BY DRILLING

Drilling confirms extensions to Musket resource
2.3m @ 4.1% Ni from Musket EM anomaly, 150m north of closest drilling
Massive and disseminated sulphides also intersected beneath current Musket resource

Rox Resources Limited ( ASX: RXL ) (“ Rox ” or “ the Company ”) is pleased to report results from RC and diamond core drilling at its 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia.

Diamond core drilling results from Musket (Figures 1 & 2) indicate new mineralisation intersected to the north and at depth of the current resource. In addition, extensions at depth to mineralisation previously reported have also been identified. New results include:

MFED058: 2.3m @ 4.1% Ni from 366.9m (semi-massive sulphides)

MFEC062: 0.2m @ 13.0% Ni from 486.3m (massive sulphide), and 5.1m @ 2.0% Ni from 490.0m (disseminated sulphides)

MFEC063: 1.8m @ 1.6% Ni from 414.2m and 8.6m @ 1.4% Ni from 419.9m (both disseminated sulphides), including 2.9m @ 2.2% Ni from 425.0m

Encouragingly a downhole EM survey conducted in drill hole MFED059 has confirmed that the EM conductor tested by hole MFED058 (2.3m @ 4.1% Ni) continues to the north and is much stronger at depth (Figures 2 & 3). This warrants follow-up to further extend the resource at Musket.

Managing Director Ian Mulholland commented, “In addition to the Cannonball drilling results released last week, these extensions to Musket, both at depth and also the EM anomaly to the north, indicate that this resource will continue to grow with more drilling.”

“Not only is the result of MFED058 exciting, being 150 metres north of current drilling, but the continuation of the massive sulphide zone, albeit relatively narrow in hole MFED062, is an indication that the system is still continuing at depth. That leaves significant potential at depth.”

Drilling at Camelwood (south, north and main zones) was also undertaken and returned encouraging results. The RC holes at Camelwood, MFEC091 and 092 intersected 3m @ 2.2% Ni from 229m, and 2m @ 3.0% Ni from 167m respectively. These will add to the resource in this location and

RRL1372D-IM

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

there remains an untested gap in the resource between the main and north zones (Figure 3).

RC drilling at Camelwood South and Camelwood North (holes MFEC086 – 090, and 096 – 098) generally intersected about 1m @ ~1% Ni indicating that the sulphide mineralised system is still present and worthy of further follow-up drilling at depth.

One diamond hole (MFED060) was completed at Camelwood South as the tail on a lost RC hole and returned 2.0m @ 1.4% Ni from 189.3m.

Three RC holes (MFEC093 – 095) were drilled to test EM and geochemical anomalies at the Red Mulga and Cutlass prospects. Anomalous nickel values were intersected.

Work will now focus on further understanding and evaluation of the known resources and planning for further drilling in 2015.

ENDS

For more information:

Shareholders/Investors Ian Mulholland Managing Director Tel: +61 8 9226 0044 [email protected]

Media

Tony Dawe / Belinda Newman Professional Public Relations Tel: + 61 8 9388 0944 [email protected] / [email protected]

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

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Figure 1: Fisher East Prospect Locations

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

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Figure 2: Musket Long Section

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

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Figure 3: Camelwood Long Section

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Table 1: Diamond Drill Assay Results

Hole	East	North	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval	Ni%	m%	Prospect
MFED063	356768	7033836	462.7	-70	268	414.2	416.0	1.8	1.55	15.0	Musket
And						419.9	428.5	8.6	1.42
*Including*						425.0	427.9	2.9	2.24
MFED062	356802	7033917	522.7	-66	261	486.3	486.5	0.2	13.0	12.7	Musket
And						490.0	495.1	5.1	2.00
MFED061	356348	7034690	299.3	-66	247	266.6	268.8	2.2	1.92	4.2	Cannonball
MFED060	356168	7034897	207.6	-60	275	189.3	191.3	2.0	1.41	2.8	Camelwood Sth
MFED059	356704	7034030	474.9	-70	264	450.4	451.8	1.4	1.44	2.0	Musket
MFED058	356653	7034098	418.6	-60	268	366.9	369.2	2.3	4.10	9.3	Musket
MFED057	356351	7034696	296.8	-60	261	255.3	260.6	5.3	2.69	14.2	Cannonball
Including						255.3	257.2	1.9	4.82
MFED056	356752	7033958	507.6	-62	261	456.6	465.3	8.7	1.58	13.7	Musket
Including						456.6	456.8	0.2	5.44
MFED055	356680	7033760	313.9	-63	259	275.9	276.0	0.1	5.17	0.5	Musket
MFED054	356600	7033919	321.9	-67	270	298.5	301.3	2.8	4.49	12.6	Musket
Including						298.8	299.5	0.7	14.6
MFED053	356600	7033920	285.7	-58	266	257.0	257.8	0.8	4.04	3.2	Musket
MFED052	356515	7034000	249.1	-69	270	220.8	220.9	0.1	1.72	0.2	Musket
MFED051	356450	7034600	420.7	-62	268	367.8	368.9	1.1	4.10	4.5	Cannonball
MFED050	356700	7033880	401.6	-61	262	361.0	368.7	7.7	1.79	13.9	Musket
Including						363.0	366.0	3.0	2.37
MFED049	356600	7033920	401.8	-78	248	352.1	369.0	16.9	2.03	34.3	Musket
Including						358.0	364.6	6.6	2.59
MFED048	356600	7033920	352.2	-70	270	311.5	321.1	9.6	1.22	11.7	Musket
Including						311.5	314.0	2.5	2.10
MFED047	356670	7033800	350	-63	268	295.6	303.0	7.4	1.90	14.1	Musket
Including						295.6	297.0	1.4	2.50
Including						299.9	303.0	3.1	2.24
MFED046	356670	7033800	330	-56	266	265.2	265.5	0.3	13.3	8.5	Musket
And						270.0	272.9	2.9	1.57
MFED045	356620	7033840	307	-66	266	268.0	277.2	9.2	1.87	17.2	Musket
MFED044	356620	7033840	292	-59	270	248.0	263.9	15.9	2.12	33.7	Musket
Including						252.2	262.4	10.2	2.60
MFED043	356611	7033879	355	-68	275	305.1	321.3	16.2	2.84	46	Musket
Including						305.1	305.9	0.8	19.0
MFED042	356611	7033879	319.4	-62	268	264.7	279.7	15.0	2.72	40.8	Musket
Including						264.7	265.6	0.9	19.5

Some diamond drill holes (Table 1) have been reported previously (ASX:RXL 28 April 2014, 6 May 2014, 27 May 2014, 10 July 2014 and 20 November 2014).

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Table 2: RC Drilling Assay Results

Hole	East	North	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval	Ni%	m%	Prospect
MFEC098	355950	7035900	220	-60	274	189	190	1	1.26	1.3	Camelwood Nth
MFEC097	355898	7035999	187	-60	274	163	164	1	1.16	1.2	Camelwood Nth
MFEC096	355899	7036046	202	-60	274	176	177	1	0.94	0.9	Camelwood Nth
MFEC095	358306	7028997	181	-55	250	NSR					Cutlass
MFEC094	358283	7028406	126	-55	250	NSR					Red Mulga
MFEC093	358960	7027397	156	-60	245	NSR					Red Mulga
MFEC092	355922	7035950	187	-60	272	167	169	2	2.99	6.0	Camelwood
MFEC091	355990	7035846	241	-60	270	229	232	3	2.23	6.7	Camelwood
MFEC090	356122	7035199	217	-60	275	206	207	1	0.95	1.0	Camelwood Sth
MFEC089	356097	7035150	192	-60	275	NSR					Camelwood Sth
MFEC088	356104	7035099	187	-60	275	174	175	1	1.07	1.1	Camelwood Sth
MFEC087	356087	7035049	163	-60	275	141	142	1	1.34	1.3	Camelwood Sth
MFEC086	356135	7034995	198	-60	275	177	178	1	1.23	1.2	Camelwood Sth
MFEC085	356310	7034654	222	-58	268	198	203	5	2.10	10.5	Cannonball
MFEC084	356232	7034750	213	-55	270	190	191	1	1.49	1.5	Cannonball
MFEC083	356263	7034682	228	-65	274	191	195	4	1.85	7.4	Cannonball
MFEC082	356237	7034651	173	-55	272	154	163	9	2.75	24.7	Cannonball
*including*						*155*	*160*	5	*4.12*
MFEC081	356959	7032200	172	-60	245	NSR					Corktree
MFEC080	356268	7034650	200	-60	272	168	171	3	4.69	14.1	Cannonball
including						168	170	2	6.00
MFEC079	356364	7034549	259	-60	275	238	239	1	1.83	1.8	Cannonball
MFEC078	356537	7033834	179	-60	260	155	165	10	2.25	22.5	Musket
MFEC077	358363	7028896	149	-60	240	NSR					Red Mulga
MFEC076	358500	7028763	178	-60	240	NSR					Red Mulga
MFEC075	356628	7032848	168	-60	250	NSR					Corktree
MFEC074	356505	7033885	170	-60	259	142	143	1	3.63	3.6	Musket
MFEC073	356610	7033605	171	-60	273	NSR					Musket
MFEC072	356560	7033889	228	-62	277	205	210	5	8.39	42.0	Musket
including						206	209	3	12.1
including						206	207	1	20.7
MFEC071	356550	7033889	203	-55	259	178	182	4	8.43	33.7	Musket
MFEC070	356451	7034101	177	-60	271	154	155	1	1.08	1.1	Musket
including						178	180	2	14.7
MFEC069	356337	7034300	162	-60	273	NSR					Cannonball
MFEC068	356309	7034546	197	-60	275	180	183	3	2.28	6.8	Cannonball
MFEC067	356544	7033836	200	-60	277	161	178	17	2.06	35.0	Musket
including						161	162	1	8.89
MFEC066	356553	7033892	237	-55	276	189	192	3	5.88	17.6	Musket
including						190	191	1	14.8
MFEC065	356577	7033881	258	-57	270	227	244	17	2.17	36.9	Musket
including						227	235	8	3.34

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Hole	East	North	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval	Ni%	m%	Prospect
		including				227	229	2	8.14
MFEC064	356554	7033851	218	-60	270	191	205	14	1.52	21.3	Musket
MFEC063	356200	7034800	203	-60	270	189	190	1	3.00	3.0	Cannonball
MFEC059	356592	7033847	243	-60	270	214	231	17	2.22	37.7	Musket
		including				214	218	4	3.19
		including				215	216	1	6.23
		and				225	229	4	2.50
MFEC058	356606	7033706	208	-60	270	185	186	1	1.34	1.3	Musket
MFEC057	356592	7033753	208	-60	270	188	189	3	1.54	4.6	Musket
MFEC056	356550	7033750	158	-60	270	127	133	6	1.49	9.0	Musket
MFEC055	356610	7033800	248	-60	270	220	231	11	1.77	19.4	Musket
		including				225	228	3	2.35
MFEC054	356290	7034500	150	-60	270	NSR					Cannonball
MFEC053	356315	7034600	210	-60	270	199	200	1	4.19	4.2	Cannonball
MFEC052	356238	7034700	200	-60	270	176	177	1	4.53	4.5	Cannonball
MFEC049	356270	7034600	186	-60	270	158	163	5	2.34	11.7	Cannonball
		including				159	160	1	3.19
		and				162	163	1	4.61
MFEC048	356570	7033800	216	-60	270	176	189	13	1.93	25.0	Musket
		including				180	185	5	2.55
MFEC047	356555	7033700	143	-60	270	126	127	1	1.04	1.0	Musket
MFEC046	356500	7033900	180	-60	270	NSR					Musket
MFEC045	356246	7034500	110	-60	270	84	88	4	2	8.0	Cannonball
MFEC044	356037	7034435	99	-60	270	NSR					Cannonball
MFEC043	356186	7034699	164	-65	270	128	130	2	2.36	4.7	Cannonball
MFEC042	356220	7034600	150	-60	270	114	119	5	2.03	10.2	Cannonball
MFEC041	356555	7033595	116	-60	270	NSR					Musket
MFEC040	356528	7033800	150	-60	270	129	136	7	1.84	12.9	Musket
MFEC039	356293	7034398	150	-60	270	NSR					Cannonball
MFEC038	356379	7034195	149	-60	270	NSR					Cannonball
MFEC037	356469	7033994	159	-60	270	129	132	3	3.13	9.4	Musket
		including				129	131	2	4.01
MFEC036	356463	7033793	144	-60	270	55	64	9	1.32	11.8	Musket
MFEC035	356484	7033605	104	-60	270	NSR					Musket
MFEC034	356530	7033411	127	-60	270	NSR					Musket

Some RC Drill holes (Table 2) have been reported previously (ASX:RXL 6 March 2014, 27 March 2014, 17 July 2014, 31 July 2014, 13 August 2014 and 20 November 2014).

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Notes to Tables:

New results shown in bold .
Grid coordinates GDA94: Zone 51, collar positions determined by hand held GPS.
All holes nominal RL 540 +/- 1m AHD estimated from regional Digital Elevation Model.
Hole azimuths planned as shown, downhole deviations may result in hole paths slightly different to those intended.
RC drilling (hole prefix MFEC) by reverse circulation face sampling hammer, then 1 metre samples cone 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 analysis by Intertek Genalysis Perth method 4A/OE: Multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes. Analysed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry. For higher precision analyses (e.g. Ni > 1%), Intertek Genalysis Perth method 4AH/OE: Modified (for higher precision) multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids. Analysed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry.
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 for reporting of 1% Ni with up to 2m of internal dilution allowed.
Given the angle of the drill holes and the interpreted 60-65 degree easterly dip of the host rocks, reported intercepts will be slightly more than true width.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

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 $2.5 million to pay)

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 strong nickel potential. 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] .

Recent drilling at the Camelwood and Musket nickel prospects has defined a JORC 2012 Mineral Resource (ASX:RXL 3 October 2013 and 4 September 2014) of 3.6Mt grading 2.0% nickel reported at 1.0% Ni cut-off (Indicated Mineral Resource: 1.8Mt grading 2.2% Ni, Inferred Mineral Resource: 1.9Mt grading 1.8% Ni) comprising massive and disseminated nickel sulphide mineralisation, and containing 72,100 tonnes of nickel. Higher grade mineralisation is present in both deposits (refer to ASX announcements above), and is still open at depth beneath each deposit. The nickel Mineral Resource occurs partly on tenements under Option to Purchase to Rox, with an exercise price payable as follows: $0.2 million by 31 December 2014, and $2.3 million by 30 June 2015.

Drilling by Rox has also defined numerous high-grade gold targets and a JORC 2004 Measured, Indicated and Inferred Mineral Resource (ASX:RXL 10 February 2012) of 973,000 tonnes grading 2.75 g/t gold reported at a 0.8 g/tAu cut-off exists 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) aggregated over the Damsel, Moray Reef and Mt Fisher deposits.

Reward Zinc-Lead Project (49% + Farm-out Agreement)

Rox has signed an Earn-In and Joint Venture Agreement with Teck Australia Pty Ltd. (“Teck”) to explore its highly prospective 670km[2] Myrtle/Reward zinc-lead tenements, located 700km south-east of Darwin, Northern Territory, adjacent to the McArthur River zinc-lead mine.

The Myrtle zinc-lead deposit has a current JORC 2004 Mineral Resource (ASX:RXL 15 March 2010) of 43.6 Mt @ 5.04% Zn+Pb reported at a 3.0% Zn+Pb cut-off (Indicated: 5.8 Mt @ 3.56% Zn, 0.90% Pb; Inferred: 37.8 Mt @ 4.17% Zn, 0.95% Pb).

Recent drilling at the Teena zinc-lead prospect intersected 26.4m @ 13.3% Zn+Pb including 16.2m @ 17.2% Zn+Pb, and 20.1m @ 15.0% Zn+Pb including 12.5m @19.5% Zn+Pb , and together with historic drilling has defined significant high grade zinc-lead mineralisation over a strike length of at least 1.5km (ASX:RXL 5 August 2013, 26 August 2013, 18 September 2013, 11 October 2013).

Under the terms of the Agreement, Teck has now met the expenditure requirement for a 51% interest, with Rox holding the remaining 49%. Teck has elected to increase its interest in the project to 70% by spending an additional A$10m (A$15m in total) by 31 August 2018 (ASX:RXL 21 August 2013).

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

In October 2012 Rox signed a Farm-in Agreement with Arafura Resources Limited (ASX:ARU) 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, with the style of mineralisation similar to the adjacent Jervois copper deposits (see ASX:KGL). EM surveys defined a number of anomalies that could represent sulphide mineralisation at depth (ASX:RXL 5 August 2014). Drill testing has intersected visible copper mineralisation at three prospects, with massive copper sulphides intersected at the Bonya Mine prospect, including 38m @ 4.4% Cu and 11m @ 4.4% Cu (ASX:RXL 20 October 2014).

Under the Farm-in Agreement Rox can earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and PGE mineral rights at Bonya by spending $500,000 by December 2014. Rox can then elect to earn a further 19% (for 70% in total) by spending a further $1 million by December 2016. 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.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Appendix

The following information is provided to comply with the JORC (2012) requirements for the reporting of the drilling results on tenement E53/1318.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. RC hole diameter was 5.5" (140 mm) reverse circulation percussion (RC). Sampling of RC holes was undertaken by collecting 1m cone split samples at intervals. Diamond drill hole core size is NQ2 size diameter through the mineralisation. Sampling of diamond holes was by cut half core as described further below. Drill holes were generally angled at -600towards grid west (but see Table for individual hole dips and azimuths) to intersect geology as close to perpendicular as possible.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Drillhole locations were picked up by handheld GPS. Logging of drill samples included lithology, weathering, texture, moisture and contamination (as applicable). Sampling protocols and QAQC are as per industry best practice procedures.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information Diamond core is dominantly NQ2 size, sampled on geological intervals, with a minimum of 0.1 m up to a maximum of 1.5 m. NQ2 core is cut into half, or quarter for HQ holes. RC drillholes were sampled on 1m intervals using riffle or cone splitter units. Samples were sent to Intertek Genalysis in Kalgoorlie, crushed to 10mm, dried and pulverised (total prep) in LM5 units (Some samples > 3kg were split) to produce a sub-sample. The pulps were then sent to Perth for analysis by four acid digest with a multi-element ICP-OES finish (code: 4A/OE-multi element). Au, Pt and Pd were analysed by 50 gram fire assay with a mass spectrometer finish. Internal laboratory QA uses CRM's, blanks, splits and replicates, along with 10% repeats.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drilling techniques were Reverse Circulation (RC) and diamond core (DD). The RC hole diameter was 140mm face sampling hammer. Hole depths range from 126m to 241m. DD hole diameter was mostly NQ2 with 5 ¼ inch mud rotary pre- collar and HQ upper hole portions. Hole depths range from 207.6m to 522.7m. The core was orientated using a Camtech orientation tool. DD holes had RC or rock roller bit pre-collars drilled, generally to 100-150m depth.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed Diamond drill core recoveries were logged and recorded in the database. Overall recoveries were >95%, and there were no significant core loss or recovery problems. RC drill recoveries were high (>90%).
	Measures taken to maximise sample recovery and ensure representative nature of the samples Diamond core was reconstructed into continuous sample runs on an angle iron used for orientation marking. Depths are measured and checked against marked depths on the core blocks. RC samples were visually checked for recovery, moisture and contamination and notes made in the logs.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no observable relationship between recovery and grade, and therefore no sample bias.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Criteria	JORC Code explanation Commentary
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Detailed geological logs have been carried out on all RC drill holes, but no geotechnical data have been recorded (or is possible to be recorded due to the nature of the sample). The geological data would be suitable for inclusion in a Mineral Resource estimate. Detailed geological and geotechnical logs were carried out on all diamond drill holes for recovery, RQD, structures etc. which included structure type, dip, dip direction, alpha angle, beta angle, texture, shape, roughness, fill material, and this data is stored in the database.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Logging of diamond core and RC chips recorded lithology, mineralogy, mineralisation, structure (DD only), weathering, colour, and other sample features. Core was photographed and is stored in plastic core trays. RC chips are stored in plastic RC chip trays.
	The total length and percentage of the relevant intersections logged All holes were logged in full except for rock roller bit diamond hole pre-collars (0-120m in most cases).
*Sub-sampling* *techniques and sample* *preparation*	If core, whether cut or sawn and whether quarter, half or all core taken. Drill core was cut in half on site using a core saw. All samples were collected from the same side of the core, preserving the orientation mark in the kept core half.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. RC samples were collected on the drill rig using a cone splitter. If any mineralised samples were collected wet these were noted in the drill logs and database.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation followed industry best practice. This involved oven drying, coarse crushing of diamond core to ~10mm, followed by pulverisation of the entire sample in an LM5 or equivalent pulverising mill to a grind size of 85% passing 75 micron.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Field QC procedures involve the use of Certified Reference Materials (CRM’s) as assay standards, along with duplicates and barren waste samples. The insertion rate of these was approximately 1:20.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second- half sampling. No diamond core field duplicates were taken. For RC drilling field duplicates were taken on a routine basis at an approximate 1:20 ratio using the same sampling techniques (i.e. cone splitter) and inserted into the sample run.
	Whether sample sizes are appropriate to the grain size of the material being sampled. The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. The analytical technique involved a four acid digest followed by multi-element ICP/OES analysis (Intertek analysis code 4A/OE). The four acid digest involves hydrofluoric, nitric, perchloric and hydrochloric acids and is considered a “complete” digest for most material types, except certain chromite minerals.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical or portable analysis tools were used to determine assay values stored in the database.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies. Check assays were undertaken at an independent third party assay laboratory and correlated extremely well.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Senior technical personnel from the Company (Managing Director and Exploration Manager) have visually inspected and verified the significant drill intersections.
	The use of twinned holes. No holes have been twinned at this stage.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Criteria	JORC Code explanation Commentary
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary data was collected using a standard set of Excel templates on Toughbook laptop computers in the field. These data are transferred to Geobase Pty Ltd for data verification and loading into the database.
	Discuss any adjustment to assay data. No adjustments or calibrations have been made to any assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Not applicable. A hand held GPS has been used to determine collar locations at this stage, however DGPS collar surveys will be undertaken by a licensed surveyor shortly.
	Specification of the grid system used. The grid system is MGA_GDA94, zone 51 for easting, northing and RL.
	Quality and adequacy of topographic control. The topographic surface was generated from digital terrain models generated from low level airborne geophysical surveys.
Data spacing and distribution	Data spacing for reporting of Exploration Results. The drill hole spacing varies 40-100 metres between drill sections, with some areas at 40 metre drill section spacing. Some sections (but not all) have had more than one hole drilled. Down dip step out distance varies 40-60 metres.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. The mineralisation and geology shows very good continuity from hole to hole and will be sufficient to support the definition of a Mineral Resource or Ore Reserve and the classifications contained in the JORC Code (2012 Edition) in due course.
	Whether sample compositing has been applied. No sample compositing has occurred for diamond core drilling. Sample intervals are based on geological boundaries with even one metre samples between. For RC samples, sample compositing occurred over 4 metre intervals for non-mineralised material, but all mineralised intervals were sampled at a one metre interval.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. The deposit strikes at about 345 degrees and dips to the east at between -60 to -70 degrees. The drill orientation was planned to be 260 - 270 degrees, so slightly oblique to the perpendicular direction, however, some drill holes have swung slightly south (to up to 255 degrees) so were drilling essentially perpendicular to strike. This is confirmed in structural logging of mineralised zones.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security. Sample security is managed by the Company. After preparation in the field samples are packed into polyweave bags and despatched to the laboratory. For a large number of samples these bags were transported by the Company directly to the assay laboratory. In some cases the sample were delivered to a transport contractor who then delivered the samples to the assay laboratory. The assay laboratory audits the samples on arrival and reports any discrepancies back to the Company. No such discrepancies occurred.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. A review of previous sampling techniques and data was carried out by Optiro Pty Ltd (“Optiro”) as part of the Camelwood Mineral Resource estimate (ASX:RXL 3 October 2013). The database is considered by Optiro to be of sufficient quality to support a Mineral Resource estimate. In addition, from time to time, the Company carries out its own internal data audits.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The mineralisation is located within Exploration License E53/1318. Rox Resources holds an option to purchase E53/1318 (among other tenements) from Gerard Victor Brewer payable in three instalments; $1.1 million payable by 30 June 2014 (already paid), $0.2 million payable by 31 December 2014, and $2.3 million payable by 30 June 2015.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. The tenement/s is/are in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. No previous exploration for nickel had been done at the Cannonball prospect before Rox’s involvement.
Geology	Deposit type, geological setting and style of mineralisation. The geological setting is of Archaean aged komatiite system, bounded by hangingwall basaltic rocks and footwall felsic metasediments. Mineralisation is mostly situated at the (eastern) basal ultramafic - felsic contact. The rocks are strongly talc- carbonate altered. Metamorphism is mid-upper Greenschist. The deposit is analogous to Kambalda style nickel sulphide deposits.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. Refer to drill results Table/s and the Notes attached thereto.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. All reported assay intervals have been length weighted. No top cuts have been applied. A lower cut-off of 1% is applied with up to 2m of internal dilution allowed. See Notes to Table/s.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. High grade massive or semi-massive sulphide intervals internal to broader zones of mineralisation may be reported as included intervals. See Table/s.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. No metal equivalent values have been used or reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). The mineralisation is moderately east dipping throughout the deposit. Drillhole azimuths were generally planned at 2700and holes generally inclined at -600west (but see Table 1). Given the angle of the drill holes and the interpreted dip of the host rocks and mineralisation (see Figures 3-4), reported intercepts will be more than true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer to Figures and Table in the text.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. At this stage only likely mineralised intervals have been analysed. Full assays are underway and will be reported in due course.

ROX RESOURCES LIMITED - ASX RELEASE 26 November 2014


Criteria	JORC Code explanation	Commentary
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and	All core samples are measured for bulk density by the laboratory using the water displacement method. Multi element assaying on all samples was carried out for a suite of potentially deleterious elements such as Arsenic and Magnesium.
	method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Geotechnical data was collected from all diamond drillholes including recovery and RQD. Structural information was recorded; structure type, thickness, lithology, and alpha/beta angles (dip and dip direction).
Further work	The nature and scale of planned further work (e.g.
	tests for lateral extensions or depth extensions or
	large-scale step-out drilling).	Further work (RC and diamond drilling) is justified to locate
	Diagrams clearly highlighting the areas of possible	extensions to mineralisation both at depth and along strike.
	extensions, including the main geological
	interpretations and future drilling areas, provided this
	information is not commercially sensitive

Competent Person Statements:

The information in this report that relates to nickel Exploration Results for the Mt Fisher Project 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 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mulholland is a full time employee and Managing Director 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.

The information in this report that relates to nickel Mineral Resources for the Mt Fisher project was reported to the ASX on 3 October 2013 and 4 September 2014. Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcements of 3 October 2013 and 4 September 2014, and that all material assumptions and technical parameters underpinning the estimates in the announcements of 3 October 2013 and 4 September 2014 continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results and Mineral Resources for the Reward Zinc-Lead, and Bonya Copper projects and for the gold Mineral Resource defined at Mt Fisher, was either prepared and first disclosed under the JORC Code 2004 or under the JORC Code 2012, and has been properly and extensively cross-referenced in the text. In the case of the 2004 JORC Code Exploration Results and Mineral Resources, they have not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

All reports are 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 and 2012 Editions 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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ROX RESOURCES LIMITED Capital/Financing Update 2014

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