ROX RESOURCES LIMITED — Capital/Financing Update 2014

Jul 16, 2014

ASX ANNOUNCEMENT 17 JULY 2014

Rox Resources Limited

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: admin@roxresources.com.au

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%)

MORE MASSIVE SULPHIDES AT MUSKET

• Further massive sulphides intersected near surface
  • o 3m @ 5.9% Ni, including 1m @ 14.8% Ni
  • o 17m @ 2.1% Ni, including 1m @ 8.9% Ni
• Musket deposit still open at depth and along strike
• Resource estimation work underway

Rox Resources Limited (ASX: RXL) ("Rox" or "the Company") is pleased to confirm massive high grade nickel sulphides were intersected near surface during a Reverse Circulation (RC) drilling program at the Musket prospect (Figure 1), which forms part of the 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia.

The RC drilling is being undertaken to define and delineate additional near-surface nickel sulphide mineralisation as part of a resource estimation currently underway.

Managing Director Ian Mulholland commented, "This additional RC drilling will add new tonnes to our overall project mineral resource, and will assist in the resource model planning for Musket."

Massive high grade nickel sulphides were intersected in both holes drilled (Figures 2-4):

• MFEC066: 3m @ 5.9% Ni from 189m downhole, including 1m @ 14.8% Ni of massive sulphide from 190m downhole
• MFEC067: 17m @ 2.1% Ni from 161m downhole, including 1m @ 8.9% Ni of massive sulphide from 161m downhole

"Intersecting significant grades of massive sulphides close to surface will undoubtedly boost the project economics," Mulholland said.

Further RC drilling is planned over the coming weeks at Musket, Cannonball and Corktree (Figure 1). In addition, the aircore/Rotary Air Blast (RAB) drilling program previously advised is progressing well.

Results from both the RC and aircore/RAB drilling will be advised when available.

ENDS

For more information:

Shareholders/Investors Media

Managing Director Professional Public Relations Tel: +61 8 9226 0044 Tel: + 61 8 9388 0944 admin@roxresources.com.au tony.dawe@ppr.com.au /

Ian Mulholland Tony Dawe / Belinda Newman belinda.newman@ppr.com.au

Figure 1: Musket Prospect Location

Figure 2: Musket Long Section

Figure 3: Drill Cross Section 7033840N

Figure 4: Drill Cross Section 7033880N

		Table 1: Musket RC		Drilling Assay Results
--	--	--------------------	--	------------------------	--	--

Hole	East	North	Depth(m)	Dip	Azimuth	From(m)	To(m)	Interval	Ni%	m%	Prospect
MFEC034	356530	7033411	127	-60	270	NSR					Musket
MFEC035	356484	7033605	104	-60	270	NSR					Musket
MFEC036	356463	7033793	144	-60	270	55	64	9	1.32	11.8	Musket
MFEC037	356469	7033994	159	-60	270	129	132	3	3.13	9.4	Musket
		including				129	131	2	4.01
MFEC038	356379	7034195	149	-60	270	NSR					Cannonball
MFEC039	356293	7034398	150	-60	270	NSR					Cannonball
MFEC040	356528	7033800	150	-60	270	129	136	7	1.84	12.9	Musket
MFEC041	356555	7033595	116	-60	270	NSR					Musket
MFEC042	356220	7034600	150	-60	270	114	119	5	2.03	10.2	Cannonball
MFEC043	356186	7034699	164	-65	270	128	130	2	2.36	4.7	Cannonball
MFEC044	356037	7034435	99	-60	270	NSR					Cannonball
MFEC045	356246	7034500	110	-60	270	84	88	4	2	8.0	Cannonball
MFEC046	356500	7033900	180	-60	270	NSR					Musket
MFEC047	356555	7033700	143	-60	270	126	127	1	1.04	1.0	Musket
MFEC048	356570	7033800	216	-60	270	176	189	13	1.93	25.0	Musket
		including				180	185	5	2.55
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
MFEC052	356238	7034700	200	-60	270	176	177	1	4.53	4.5	Cannonball
MFEC053	356315	7034600	210	-60	270	199	200	1	4.19	4.2	Cannonball
MFEC054	356290	7034500	150	-60	270	NSR					Cannonball
MFEC055	356610	7033800	248	-60	270	220	231	11	1.77	19.4	Musket
		including				225	228	3	2.35
MFEC056	356550	7033750	158	-60	270	127	133	6	1.49	9.0	Musket
MFEC057	356592	7033753	208	-60	270	188	189	3	1.54	4.6	Musket
MFEC058	356606	7033706	208	-60	270	185	186	1	1.34	1.3	Musket
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
MFEC063	356200	7034800	203	-60	270	189	190	1	3.00	3.0	Cannonball
MFEC064	356554	7033851	218	-60	270	191	205	14	1.52	21.3	Musket
MFEC065	356577	7033881	258	-57	270	227	244	17	2.17	36.9	Musket
including						227	235	8	3.34
including					227	229	2	8.14
MFEC066	356553	7033892	237	-55	276	189	192	3	5.88	17.6	Musket
						190	191	1	14.76
MFEC067	356544	7033836	200	-60	277	161	178	17	2.06	35.0	Musket
						161	162	1	8.89

RC Drill holes MFEC034 to MFEC065 have been reported previously (ASX:RXL 6 March 2014 and 27 March 2014).

Notes to Table:

• New results shown in bold.
• Grid coordinates GDA94: Zone 51, collar positions determined by hand held GPS.
• All holes nominal RL 542 +/- 1m AHD estimated from regional Digital Elevation Model.
• Hole azimuths planned as 270 degrees, downhole deviations 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.

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 $3.6 million)

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 655km2 , consisting of a 485km2 area 100% owned by Rox and an Option to purchase 100% of a further 170km2 .

Recent drilling at the Camelwood nickel prospect has defined a JORC 2012 Mineral Resource (ASX:RXL 3 October 2013) of 1.6Mt grading 2.2% nickel reported at 1.0% Ni cut-off (Indicated Mineral Resource: 0.6Mt grading 2.4% Ni, Inferred Mineral Resource: 1.0Mt grading 2.1% Ni) comprising massive and disseminated nickel sulphide mineralisation, and containing 34,600 tonnes of nickel. A higher grade core of 520,000 tonnes grading 3.1% nickel reported at a 2.5% Ni cut-off (Indicated Mineral Resource: 240,000 tonnes grading 3.2% Ni, Inferred Mineral Resource: 280,000 tonnes grading 3.0% Ni) is present. The mineralisation is still open in all directions. The nickel Mineral Resource occurs partly on tenements under Option to Purchase to Rox, with an exercise price payable as follows: $1.1 million by 30 June 2014, $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 670km2 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.

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 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 at Bonya by spending $500,000 within the first two years. Rox can then 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.

Appendix

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industry standard	RC hole diameter was 5.5" (140 mm) reverse circulationpercussion (RC). Sampling of RC holes was undertaken bycollecting 1m cone split samples at intervals.
	measurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc). These examples shouldnot be taken as limiting the broad meaning of	Diamond drill hole core size is NQ2 size diameter through themineralisation. Sampling of diamond holes was by cut half core asdescribed further below.
	sampling.	Drill holes were generally angled at -600 towards grid west (butsee Table for individual hole dips and azimuths) to intersectgeology as close to perpendicular as possible.
	Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used	Drillhole locations were picked up by handheld GPS. Logging ofdrill samples included lithology, weathering, texture, moisture andcontamination (as applicable). Sampling protocols and QAQC areas per industry best practice procedures.
	Aspects of the determination of mineralisation that areMaterial to the Public Report. In cases where 'industrystandard' work has been done this would be relativelysimple (e.g. 'reverse circulation drilling was used toobtain 1 m samples from which 3 kg was pulverised toproduce a 30 g charge for fire assay'). In other casesmore explanation may be required, such as wherethere is coarse gold that has inherent samplingproblems. Unusual commodities or mineralisationtypes (e.g. submarine nodules) may warrant disclosureof detailed information	Diamond core is dominantly NQ2 size, sampled on geologicalintervals, 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 drillholeswere sampled on 1m intervals using riffle or cone splitter units.Samples were sent to Intertek Genalysis in Kalgoorlie, crushed to10mm, dried and pulverised (total prep) in LM5 units (Somesamples > 3kg were split) to produce a sub-sample. The pulpswere then sent to Perth for analysis by four acid digest with amulti-element ICP-OES finish (code: 4A/OE-multi element). Au, Ptand Pd were analysed by 50 gram fire assay with a massspectrometer 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-holehammer, 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,	Drilling techniques were Reverse Circulation (RC) and diamondcore (DD). The RC hole diameter was 140mm face samplinghammer. Hole depths range from 98m to 258m.DD hole diameter was mostly NQ2 with 5 ¼ inch mud rotary pre
	whether core is oriented and if so, by what method,etc).	collar and HQ upper hole portions. Hole depths range from319.4m to 401.8m. The core was orientated using a Camtechorientation tool.
Drill sample recovery	Method of recording and assessing core and chipsample recoveries and results assessed	Diamond drill core recoveries were logged and recorded in thedatabase. Overall recoveries were >95%, and there were nosignificant core loss or recovery problems.
		RC drill recoveries were high (>90%).
	Measures taken to maximise sample recovery andensure representative nature of the samples	Diamond core was reconstructed into continuous sample runs onan angle iron used for orientation marking. Depths are measuredand checked against marked depths on the core blocks.
		RC samples were visually checked for recovery, moisture andcontamination and notes made in the logs.
	Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurreddue to preferential loss/gain of fine/coarse material.	There is no observable relationship between recovery and grade,and therefore no sample bias.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Logging	Whether core and chip samples have been geologicallyand geotechnically logged to a level of detail to	Detailed geological logs have been carried out on all RC drill holes,but no geotechnical data have been recorded (or is possible to berecorded due to the nature of the sample). The geological datawould be suitable for inclusion in a Mineral Resource estimate.
	support appropriate Mineral Resource estimation,mining studies and metallurgical studies.	Detailed geological and geotechnical logs were carried out on alldiamond drill holes for recovery, RQD, structures etc. whichincluded structure type, dip, dip direction, alpha angle, beta angle,texture, shape, roughness, fill material, and this data is stored inthe database.
	Whether logging is qualitative or quantitative innature. 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 isstored in plastic core trays. RC chips are stored in plastic RC chiptrays.
	The total length and percentage of the relevantintersections logged	All holes were logged in full except for the rock roller bit diamondhole pre-collars (0-120m in most cases).
Sub-samplingtechniques and samplepreparation	If core, whether cut or sawn and whether quarter, halfor all core taken.	Drill core was cut in half on site using a core saw. All samples werecollected from the same side of the core, preserving theorientation 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. Ifany mineralised samples were collected wet these were noted inthe drill logs and database.
	For all sample types, the nature, quality andappropriateness of the sample preparation technique.	The sample preparation followed industry best practice. Thisinvolved oven drying, coarse crushing of diamond core to ~10mm,followed by pulverisation of the entire sample in an LM5 orequivalent pulverising mill to a grind size of 85% passing 75micron.
	Quality control procedures adopted for all subsampling stages to maximise representivity of samples.	Field QC procedures involve the use of Certified ReferenceMaterials (CRM's) as assay standards, along with duplicates andbarren waste samples. The insertion rate of these wasapproximately 1:20.
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for field duplicate/secondhalf sampling.	No diamond core field duplicates were taken. For RC drilling fieldduplicates were taken on a routine basis at an approximate 1:20ratio using the same sampling techniques (i.e. cone splitter) andinserted into the sample run.
	Whether sample sizes are appropriate to the grain sizeof the material being sampled.	The sample sizes are considered more than adequate to ensurethat there are no particle size effects relating to the grain size ofthe mineralisation which lies in the percentage range.
Quality of assay dataand laboratory tests	The nature, quality and appropriateness of theassaying and laboratory procedures used and whetherthe technique is considered partial or total.	The analytical technique involved a four acid digest followed bymulti-element ICP/OES analysis (Intertek analysis code 4A/OE).The four acid digest involves hydrofluoric, nitric, perchloric andhydrochloric acids and is considered a "complete" digest for mostmaterial types, except certain chromite minerals.
	For geophysical tools, spectrometers, handheld XRFinstruments, etc, the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.	No geophysical or portable analysis tools were used to determineassay values stored in the database.
	Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (i.e.	Internal laboratory control procedures involve duplicate assayingof randomly selected assay pulps as well as internal laboratorystandards. All of these data are reported to the Company andanalysed for consistency and any discrepancies.
	lack of bias) and precision have been established.	Check assays were undertaken at an independent third party assaylaboratory and correlated extremely well.
Verification ofsampling and assaying	The verification of significant intersections by eitherindependent or alternative company personnel.	Senior technical personnel from the Company (Managing Directorand Exploration Manager) have visually inspected and verified thesignificant drill intersections.
	The use of twinned holes.	No holes have been twinned at this stage.

Criteria	JORC Code explanation	Commentary
	Documentationofprimarydata,dataentryprocedures, data verification, data storage (physicaland electronic) protocols.	Primary data was collected using a standard set of Excel templateson Toughbook laptop computers in the field. These data aretransferred to Geobase Pty Ltd for data verification and loadinginto the database.
	Discuss any adjustment to assay data.	No adjustments or calibrations have been made to any assay data.
Location of datapoints	Accuracy and quality of surveys used to locatedrillholes (collar and down-hole surveys), trenches,mine workings and other locations used in MineralResource estimation.	Not applicable. A hand held GPS has been used to determine collarlocations at this stage, however DGPS collar surveys will beundertaken by a licensed surveyor shortly.
	Specification of the grid system used.	The grid system is MGA_GDA94, zone 51 for easting, northing andRL.
	Quality and adequacy of topographic control.	The topographic surface was generated from digital terrain modelsgenerated from low level airborne geophysical surveys.
Data spacing anddistribution	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 stepout distance varies 40-60 metres.
	Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) and classificationsapplied.	The mineralisation and geology shows very good continuity fromhole to hole and will be sufficient to support the definition of aMineral Resource or Ore Reserve and the classifications containedin 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 evenone metre samples between.
		For RC samples, sample compositing occurred over 4 metreintervals for non-mineralised material, but all mineralised intervalswere sampled at a one metre interval.
Orientation of data inrelation to geologicalstructure	Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type.	The deposit strikes at about 345 degrees and dips to the east atbetween -60 to -70 degrees. The drill orientation was planned tobe 260 - 270 degrees, so slightly oblique to the perpendiculardirection, however, some drill holes have swung slightly south (toup to 255 degrees) so were drilling essentially perpendicular tostrike. This is confirmed in structural logging of mineralised zones.
	If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould 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 inthe field samples are packed into polyweave bags and despatchedto the laboratory. For a large number of samples these bags weretransported by the Company directly to the assay laboratory. Insome cases the sample were delivered to a transport contractorwho then delivered the samples to the assay laboratory. The assaylaboratory audits the samples on arrival and reports anydiscrepancies back to the Company. No such discrepanciesoccurred.
Audits or reviews	The results of any audits or reviews of samplingtechniques and data.	A review of previous sampling techniques and data was carriedout by Optiro Pty Ltd ("Optiro") as part of the Camelwood MineralResource estimate(ASX:RXL 3 October 2013). The database isconsidered by Optiro to be of sufficient quality to support aMineral Resource estimate. In addition, from time to time, theCompany carries out its own internal data audits.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement andland tenure status	Type, reference name/number, location and ownershipincluding agreements or material issues with thirdparties such as joint ventures, partnerships, overridingroyalties,nativetitleinterests,historicalsites,wilderness or national park and environmentalsettings.	The mineralisation is located within Exploration License E53/1318.Rox Resources holds an option to purchase E53/1318 (amongother tenements) from Gerard Victor Brewer payable in threeinstalments; $1.1 million payable by 30 June 2014, $0.2 millionpayable by 31 December 2014, and $2.3 million payable by 30June 2015.
	The security of the tenure held at the time of reportingalong with any known impediments to obtaining alicence to operate in the area.	The tenement/s is/are in good standing and no knownimpediments exist.
Exploration done byother parties	Acknowledgment and appraisal of exploration by otherparties.	No previous exploration for nickel has been done at theCannonball or Musket prospects.
Geology	Deposittype,geologicalsettingandstyleofmineralisation.	The geological setting is of Archaean aged komatiite system,bounded by hangingwall basaltic rocks and footwall felsicmetasediments. Mineralisation is mostly situated at the (eastern)basal ultramafic - felsic contact. The rocks are strongly talccarbonate altered. Metamorphism is mid-upper Greenschist. Thedeposit is analogous to Kambalda style nickel sulphide deposits.
Drill hole Information	A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:•easting and northing of the drill hole collar•elevation or RL (Reduced Level – elevationabove sea level in metres) of the drill holecollar•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 aggregationmethods	In reporting Exploration Results, weighting averagingtechniques,maximumand/orminimumgradetruncations (e.g. cutting of high grades) and cut-offgrades are usually Material and should be stated.	All reported assay intervals have been length weighted. No topcuts have been applied. A lower cut-off of 1% is applied with up to2m of internal dilution allowed. See Notes to Table/s.
	Where aggregate intercepts incorporate short lengthsof high grade results and longer lengths of low graderesults, the procedure used for such aggregationshould be stated and some typical examples of suchaggregations should be shown in detail.	High grade massive sulphide intervals internal to broader zones ofmineralisation are reported as included intervals. See Table/s.
	The assumptions used for any reporting of metalequivalent values should be clearly stated.	No metal equivalent values have been used or reported.
Relationship betweenmineralisation widthsand intercept lengths	These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width not known').	The mineralisation is moderately east dipping throughout thedeposit. Drillhole azimuths were planned at 2700 and holesgenerally inclined at -600 west (but see Table 1). Given the angle ofthe drill holes and the interpreted dip of the host rocks andmineralisation (see Figures 3-4), reported intercepts will be morethan true width.
Diagrams	Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	Refer to Figures and Table in the text.
Balanced reporting	Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults.	At this stage only likely mineralised intervals have been analysed.Full assays are underway and will be reported in due course.

Criteria	JORC Code explanation	Commentary
Other substantiveexploration 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 laboratoryusing the water displacement method. Multi element assaying onall samples was carried out for a suite of potentially deleteriouselements such as Arsenic and Magnesium.
	method of treatment; metallurgical test results; bulkdensity,groundwater,geotechnicalandrockcharacteristics; potential deleterious or contaminatingsubstances.	Geotechnical data was collected from all diamond drillholesincluding recovery and RQD. Structural information was recorded;structure type, thickness, lithology, and alpha/beta angles (dip anddip direction).
Further work	The nature and scale of planned further work (e.g.tests for lateral extensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting the areas of possibleextensions,includingthemaingeologicalinterpretations and future drilling areas, provided thisinformation is not commercially sensitive	Further work (RC and diamond drilling) is justified to locateextensions to mineralisation both at depth and along strike. Inaddition a resource estimate for the Musket prospect is planned.

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. Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 3 October 2013, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 3 October 2013 continue to apply and have not materially changed.

The information in this report that relates to 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 prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported, and 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.