ROX RESOURCES LIMITED — Capital/Financing Update 2019

Apr 14, 2019

ASX ANNOUNCEMENT

15 April 2019

ROX RESOURCES LIMITED ASX:RXL

Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced gold and nickel exploration projects in Western Australia.

JOINT ACQUISITION OF HIGH GRADE CURRANS FIND LEASE IN PENNY WEST AREA

Highlights

• Venus Metals and Rox Resources to jointly acquire the high grade[1] historic Currans Find Gold Prospect

DIRECTORS

Mr Stephen Dennis Chairman

• Currans Find is located in the centre of the tenement package to be acquired in conjunction with Venus (refer ASX announcement 10 April 2019)

____________

Mr Brett Dickson Finance Director

Mr Ian Mulholland Managing Director

Mr Alex Passmore Chief Executive Officer

Rox Resources Limited (ASX: RXL) (Rox” or “the Company”) is pleased to announce that a purchase agreement has been entered into with Mr Doug ‐ Taylor and Murchison Earthmoving & Rehabilitation Pty Ltd (MER) (a wholly owned company of Mr Taylor) to acquire jointly with Venus Metals Limited (VMC) a combined 90% interest in ML 57/641 “Currans Find” and a combined 90% interest in ML 57/642 “Pinchers” (Figure 1).

The 90% interest in each property being acquired is to be shared equally between Venus and Rox, with the remaining 10% held by Mr Taylor. Venus will be the manager of the joint ventures.

Shares on Issue	1,259M
Share Price	$0.011
Market Cap.	$13.9M
Cash &	$11.6M
Receivables
(at 31/12/18)

The consideration for the acquisition by Rox and Venus comprises the following amounts to be paid to Mr Taylor and MER in equal shares at completion:

• Rox will pay $75,000 cash and issue 7,500,000 RXL ordinary shares at an issue price of $0.01;

• Venus will pay $75,000 and issue 450,000 VMC ordinary shares at an issue price of $0.17 per share

Level 1, 34 Colin Street, West Perth WA 6005

Completion is subject to mineral title transfer and other conditions typical of transactions of this nature (i.e. DMIRS/Ministerial consent).

+61 8 9226 0044

admin@roxresources.com.au

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1 ‐ The Currans Find Mining Lease is a historical high grade gold producer. Cancelled GML records show that 6,874 tons were treated at the Red White and Blue battery on site for a recovered average grade of 13 g/t Au.

www.roxresources.com.au

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M57/642
Currans Find
M57/641
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Figure 1. Tenement Locations

ASX CODE: RXL

ROX RESOURCES LIMITED Level 1, 34 Colin Street, West Perth WA 6005 +61 8 9226 0044

admin@roxresources.com.au www.roxresources.com.au

Location and Geology

The Currans Find mining lease 57/641 is located in the central part of the Youanmi Project (Figure 1), within and surrounded by the VMC Joint Venture tenements and about 5km NNW along strike from the high-grade Penny West deposit. Tenement M57/642 is located at Pincher Hill and is located 5km north of Currans.

‐ Gold mineralisation at Currans Find occurs in multiple ENE trending quartz veins hosted within mafic and ultramafic rocks.

The gold-bearing quartz reefs strike 040[o] – 090[ o] and almost all of them are dipping to the south-east. Many of these quartz reefs are either truncated or offset by sinistral faults or shears that could be also mineralized between offset reefs.

Cross-cutting structures are evident from airborne magnetic imagery which also shows a demagnetised zone over the main mineralised zone.

Similar rock types also host the Penny West and Columbia –Magenta deposits south of Currans Find.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 1, 34 Colin Street, West Perth WA 6005 +61 8 9226 0044

admin@roxresources.com.au www.roxresources.com.au

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Figure 2. Gold Mineralisation and Demagnetised Horizons running NNW

ENDS

For more information: Shareholders/Investors

Alex Passmore Chief Executive Officer Tel: +61 8 9226 0044 admin@roxresources.com.au

ASX CODE: RXL

ROX RESOURCES LIMITED Level 1, 34 Colin Street, West Perth WA 6005 +61 8 9226 0044

admin@roxresources.com.au www.roxresources.com.au

Competent Persons Statement

The information in this release that relates to the Youanmi Gold Project is based on information compiled by Mr Will Belbin, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Belbin is the Exploration Manager of Rox Resources Limited. Mr Belbin has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr Belbin consents to the inclusion in the release of the matters based on his information in the form and context that the information appears.

Forward ‐ Looking Statements

‐ ‐ This document may include forward looking statements. Forward looking statements include, but are not limited to, statements concerning Rox Resources Limited planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements.

ASX CODE: RXL

ROX RESOURCES LIMITED Level 1, 34 Colin Street, West Perth WA 6005 +61 8 9226 0044

admin@roxresources.com.au www.roxresources.com.au