ROX RESOURCES LIMITED — Capital/Financing Update 2014

Mar 5, 2014

ASX ANNOUNCEMENT 6 March 2014

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%)

Marqua: phosphate (100%)

HIGH GRADE MASSIVE NICKEL SULPHIDE INTERSECTIONS

• Significant widths of high grade massive nickel sulphide mineralisation intersected at Musket:
  • o 2m @ 8.1% Ni

within 8m @ 3.3% Ni from 227m in hole MFEC065

• o 4m @ 3.2% Ni and
  • 4m @ 2.5%Ni

within 17m @ 2.2% Ni from 214m in hole MFEC059

• Massive nickel sulphides grading between 4.0% Ni and 4.5% Ni over narrower widths at Cannonball
• Diamond drill rig to be mobilised to commence follow-up drilling

Rox Resources Limited (ASX: RXL) ("Rox" or "the Company") is pleased to report assay results from its recent Reverse Circulation (RC) drilling program which commenced at its Fisher East nickel sulphide project, 500km north of Kalgoorlie in Western Australia on 5 February 2014.

The RC drilling program of 14 holes for 2,663 metres was designed to further define the high grade zones at the two new nickel sulphide discoveries made by Rox at Musket and Cannonball (ASX: 10 January 2014) along the strike of the Camelwood ultramafic unit (Figure 1).

Managing Director Ian Mulholland commented, "These are terrific results with the thick, high grade intersections from Musket particularly exciting. The 2 metres grading over 8% Ni, which is our best nickel hit yet, indicates the presence of high tenor massive sulphides and the potential for a thicker high grade shoot at Musket".

"We have now demonstrated that the area has the potential for multiple deposits, and with this high grade nickel intersection the chances of a substantial nickel sulphide mineral resource are significantly enhanced."

"Our next step will be to mobilise a diamond rig by the end of this month to commence follow up drilling."

Musket

Seven additional RC holes were completed at Musket (Figures 3 & 4) and there appears to be a thickened north plunging high grade shoot indicated within a wider zone of mineralisation.

The best result was in hole MFEC065 where massive high grade nickel sulphide (Figures 1 & 2) was intersected averaging 8.14% Ni over 2 metres. Full assay results are listed in Table 1, with highlights being:

11m @ 1.8% Ni from 220m downhole in hole MFEC055,

including 3m @ 2.4% Ni from 225m

6m @ 1.5% Ni from 127m downhole in hole MFEC056,

17m @ 2.2% Ni from 214m downhole in hole MFEC059,

including 4m @ 3.2% Ni from 214m, including 1m @ 6.2% Ni from 215m, and

including 4m @ 2.5% Ni from 225m

14m @ 1.5% Ni from 191m downhole in hole MFEC064,

17m @ 2.2% Ni from 227m downhole in hole MFEC065,

including 8m @ 3.3% Ni from 227m, including 2m @ 8.1% Ni from 227m

Other previously reported holes within this shoot (ASX: 10 January 2014) include:

9m @ 1.3% Ni from 55m downhole in hole MFEC036,

7m @ 1.8% Ni from 129m downhole in hole MFEC040,

13m @ 1.9% Ni from 176m downhole in hole MFEC048,

including 5m @ 2.6% Ni from 180m

Holes MFEC059 and 065 indicate that a high grade massive nickel sulphide zone has developed on the basal contact below holes MFEC036, 040, 048, 055 and 064 which contain predominantly matrix and disseminated sulphides. This indicates the potential development of a thick, high grade massive sulphide shoot extending at depth below holes MFEC059 and 065.

The current drilling at Musket is located at the top of a largely untested VTEM anomaly (Figures 3 & 4).

Cannonball

Four additional RC drill holes were completed at Cannonball (Figures 3 & 4) with three of them intersecting high grade mineralisation. Widths are narrower than at Musket but the high grade and massive nature of the mineralisation developing with increasing depth is encouraging.

Full assay results are listed in Table 1, with highlights being:

1m @ 4.5% Ni from 176m downhole in hole MFEC052, 1m @ 4.2% Ni from 199m downhole in hole MFEC053,

Assay results for hole MFEC063 are pending, but visually 1 metre of massive sulphide was intersected.

Previously reported holes (ASX: 10 January 2014) were more of matrix and disseminated mineralisation style, so it is possible that a massive sulphide shoot is developing at Cannonball at depth as well. Previous hole MFEC049 contained 1m @ 4.6% Ni of massive nickel sulphide mineralisation above new hole MFEC053.

Regional

Two reconnaissance holes were drilled at the Corktree prospect and one at the Twin leaf prospect. Assay results for these holes are pending, but visually none of these holes intersected any significant nickel sulphide.

Next Steps

A diamond drill rig will be mobilised to site by the end of March to commence drilling adjacent to holes MFEC059 and 065 to extend the depth and extent of the high grade massive sulphide mineralisation.

ENDS

For more information:

Shareholders/Investors Media Ian Mulholland Tony Dawe / Belinda Newman Managing Director Professional Public Relations Tel: +61 8 9226 0044 Tel: + 61 8 9388 0944 admin@roxresources.com.au tony.dawe@ppr.com.au /

belinda.newman@ppr.com.au

Figure 1: High grade nickel sulphide mineralisation (2m @ 8.1% Ni) in RC hole MFEC065 at Musket

Figure 2: Close up of drill chips from RC hole MFEC065 (2m @ 8.1% Ni) at Musket. Pentlandite, a primary nickel sulphide mineral (Ni,Fe)9S8, is prevalent.

Figure 3: Cannonball-Musket Prospect and Drill Intercept Locations

Figure 4: Cannonball-Musket North-South Drill Long Section (Musket on the left hand side, and Cannonball on the right hand side)

Table 1: 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
MFEC050	353631	7036301	128	-60	270	NSR					Emu Bush
MFEC051	353681	7036204	144	-60	270	NSR					Emu Bush
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
MFEC060	357123	7031826	98	-60	240	Pending					Corktree
MFEC061	357218	7031631	108	-60	240	Pending					Corktree
MFEC062	354730	7035840	123	-60	270	Pending					Twin Leaf
MFEC063	356200	7034800	203	-60	270	Pending					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

Drill holes MFEC034 to MFEC051 have been reported previously (ASX: 10 January 2014)

Notes to Table 1:

• 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 to be 270 degrees, but downhole deviations may result in hole paths slightly different to those intended.
• RC drilling by reverse circulation face sampling hammer, then 1 metre samples cone split and bagged.
• 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.
• 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.
• NSR = No Significant Result.
• Pending = Results not yet received from the laboratory.

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 $3.5 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 a strong potential for nickel. 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 of $3.5 million payable by 30 June 2014.

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.

Marqua Phosphate Project (100%)

Rox owns one tenement covering approximately 660 km2 in the Northern Territory which comprises 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.

Appendix

preparation

The following information is provided to comply with the JORC Code (2012) requirements for the reporting of the RC 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 standardmeasurement 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 ofsampling.	A total of 14 RC holes (MFEC052-065 inclusive) were drilled for2,663m. Hole diameter was 5.5" (140 mm) reverse circulationpercussion (RC). Drill holes were generally angled at -600 towardsgrid west (but see Table 1 for dips) to intersect geology as closeto perpendicular as possible. Sampling was undertaken bycollecting 1m cone split samples at intervals.
	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, moistureand contamination (as applicable). Sampling protocols and QAQCare as 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	RC drillholes were sampled on 1m intervals using a cone splitter.Samples were collected in calico bags for despatch to the samplelaboratory. Sample preparation was in 3-5kg pulverising mills,followed by sample splitting to a 200g pulp which was thenanalysed by Intertek Genalysis Perth method 4A/OE: Multi-aciddigest including Hydrofluoric, Nitric, Perchloric and Hydrochloricacids in Teflon Tubes. Analysed by Inductively Coupled PlasmaOptical (Atomic) Emission Spectrometry. For higher precisionanalyses (e.g. Ni > 1%), Intertek Genalysis Perth method 4AH/OE:Modified (for higher precision) multi-acid digest includingHydrofluoric, Nitric, Perchloric and Hydrochloric acids. Analysedby Inductively Coupled Plasma Optical (Atomic) EmissionSpectrometry.
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,whether core is oriented and if so, by what method,etc).	Drilling technique was Reverse Circulation (RC) with holediameter of 140mm face sampling hammer. Hole depths rangefrom 98m to 258m.
Drill sample recovery	Method of recording and assessing core and chipsample recoveries and results assessed	RC drill recoveries were visually estimated from volume ofsample recovered. All sample recoveries were above 90% ofexpected.
	Measures taken to maximise sample recovery andensure representative nature of the samples	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.
Logging	Whether core and chip samples have been geologicallyand geotechnically logged to a level of detail tosupport appropriate Mineral Resource estimation,mining studies and metallurgical studies.	Detailed geological logs have been carried out on all RC drillholes, but no geotechnical data have been recorded (or ispossible to be recorded due to the nature of the sample). Thegeological data would be suitable for inclusion in a MineralResource estimate.
	Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc) photography.	LoggingofRCchipsrecordedlithology,mineralogy,mineralisation, weathering, colour, and other sample features.RC chips are stored in plastic RC chip trays.
	The total length and percentage of the relevantintersections logged	All holes were logged in full.
Sub-samplingtechniques and sample	If core, whether cut or sawn and whether quarter, halfor all core taken.	Not applicable.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
	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.All of the mineralised samples were collected dry, as noted inthe drill logs and database.
	For all sample types, the nature, quality andappropriateness of the sample preparation technique.	The field sample preparation followed industry best practice.This involved collection of sample from the cone splitter andtransfer to a calico bag for despatch to the laboratory.
	Quality control procedures adopted for all subsampling stages to maximise representivity of samples.	Field QC procedures involve the use of standards (insertion rate1:20) and duplicate samples (insertion rate approximately 1:50).
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for field duplicate/secondhalf sampling.	For RC drilling field duplicates were only taken on a routine basisat an approximate 1:50 ratio using the same samplingtechniques (i.e. cone splitter) and inserted 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.	Intertek Genalysis Perth method 4A/OE: Multi-acid digestincluding Hydrofluoric, Nitric, Perchloric and Hydrochloric acidsin Teflon Tubes. Analysed by Inductively Coupled Plasma Optical(Atomic) Emission Spectrometry. This is considered a totalanalysis, with all of the target minerals dissolved.
	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.	See above.
	Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (i.e.lack of bias) and precision have been established.	Field QC procedures involve the use of standards (insertion rate1:20) and duplicate samples (insertion rate approximately 1:50).In addition the laboratory runs routine check and duplicateanalyses.
Verification ofsampling and assaying	The verification of significant intersections by eitherindependent or alternative company personnel.	The Company's Exploration Manager has visually inspected andverified the significant drill intersections. In addition, samplepiles have been photographed to record sample recovery andquality data.
	The use of twinned holes.	No holes have been twinned at this stage.
	Documentationofprimarydata,dataentryprocedures, data verification, data storage (physicaland electronic) protocols.	Primary data was collected using a standard set of Exceltemplates on Toughbook laptop computers in the field. Thesedata are transferred to Geobase Pty Ltd for data verification andloading into the database.
	Discuss any adjustment to assay data.	No adjustments or calibrations have been made to any assaydata.
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 determinecollar locations at this stage.
	Specification of the grid system used.	The grid system is MGA_GDA94, zone 51 for easting, northingand RL.
	Quality and adequacy of topographic control.	The topographic surface was generated from digital terrainmodels generated from low level airborne geophysical surveys.
Data spacing anddistribution	Data spacing for reporting of Exploration Results.	The nominal drill hole spacing is 100 metres between drillsections, with some areas at 50 metre drill section spacing. Somesections (but not all) have had more than one hole drilled.
	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 classificationscontained in the JORC Code (2012 Edition) in due course.

Criteria	JORC Code explanation	Commentary
	Whether sample compositing has been applied.	All mineralised intervals reported were sampled at a one metreinterval.
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 -65 degrees. The drill orientation was planned tobe 270 degrees, so slightly oblique to the perpendiculardirection, however, some drill holes have swung slightly south(to about 255 degrees) so were drilling essentially perpendicularto strike.
	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. Samplestransported to the laboratory were bagged securely anddespatched using a reputable transport contractor. Upon receiptat the laboratory a sample inventory was recorded. Noirregularities were reported.
Audits or reviews	The results of any audits or reviews of samplingtechniques and data.	The Company carries out its own internal data audits, includingrepeat portable XRF analyses. No problems have been detected.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement andland tenure status	Type,referencename/number,locationandownership including agreements or material issueswith third parties such as joint ventures, partnerships,overriding royalties, native title interests, historicalsites, wilderness or national park and environmentalsettings.	The mineralisationis located within Exploration LicenseE53/1318. Rox Resources holds an option to purchase E53/1318(among other tenements) from Gerard Victor Brewer payable inthree instalments; $1.1 million payable by 30 June 2014, $0.2million payable by 31 December 2014, and $2.3 million payableby 30 June 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 is in good standing and no known impedimentsexist.
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 stronglytalc-carbonate altered. Metamorphism is mid-upper Greenschist.The deposit is analogous to Kambalda style nickel sulphidedeposits.
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 1 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 analysis intervals have been length weighted to 1metre. No top cuts have been applied. A lower cut-off of 1% hasbeen applied with up to 2m of internal dilution allowed. SeeNotes to Table 1.

Criteria	JORC Code explanation	Commentary
	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 intervals internal to broader zones of mineralisationare reported as included intervals. See Table 1.
	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 angleof the drill holes and the interpreted dip of the host rocks andmineralisation (see Figures 2-4), 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 1-5 and Table 1 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 beenanalysed. Full assays are underway and will be reported in duecourse.
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 andmethod of treatment; metallurgical test results; bulkdensity,groundwater,geotechnicalandrockcharacteristics; potential deleterious or contaminatingsubstances.	Not applicable.
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 being planned to locateextensions to mineralisation both at depth and along strike. Inaddition further geophysics may be considered as a targetingtool if appropriate.

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, Bonya Copper and Marqua Phosphate 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.