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ROX RESOURCES LIMITED Capital/Financing Update 2022

Jun 21, 2022

65741_rns_2022-06-21_32e5797e-a402-4b11-a999-f1fa39768cc2.pdf

Capital/Financing Update

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RRL1822D

ASX ANNOUNCEMENT

22 June 2022

Exceptional Grade Control Drilling Results Returned from Shallow Grace Resource

ROX RESOURCES LIMITED ASX: RXL

Rox Resources Limited (ASX: RXL) is an Australian listed company with advanced gold projects in Western Australia: the Youanmi Gold Project and the Mt Fisher Gold project.

DIRECTORS

Mr Stephen Dennis Chairman

Mr Alex Passmore Managing Director

Dr John Mair Non-Executive Director

Shares on Issue 168.9m Share Price $0.24 Market Cap. $40.6m Cash $6.9m (as at 31 Mar 22)

Highlights:

  • Results demonstrate continuity of gold mineralisation and derisk the deposit ahead of future commercialisation

  • Highlights (above 30 gram-metres) from latest grade control drilling on 5x5m drill spacing at Grace include:

  • RXGC011: 7m @ 35.32g/t Au from 33m RXGC091: 5m @ 15.23g/t Au from 3m RXGC143: 5m @ 14.29g/t Au from 41m RXGC046: 6m @ 11.85g/t Au from 0m RXGC010: 6m @ 10.46g/t Au from 17m RXGC022: 5m @ 11.49g/t Au from 27m RXGC173: 2m @ 22.69g/t Au from 35m RXGC170: 7m @ 6.46g/t Au from 48m RXGC127: 8m @ 3.47g/t Au from 39m

___________

West Australian focused gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC), is pleased to report grade control drilling results from the Grace deposit at Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).

The grade control results demonstrate continuity of the mineralisation, reconcile well with the resource model in this area and further de-risk the Grace deposit, located withing the broader Youanmi mine area.

Managing Director Alex Passmore commented:

Level 2, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

[email protected] www.roxresources.com.au

Follow Rox:

==> picture [33 x 33] intentionally omitted <==

==> picture [32 x 33] intentionally omitted <==

==> picture [32 x 32] intentionally omitted <==

“RC drilling at Grace down to a minimum 40m vertical depth on a closely spaced drill pattern (i.e. 5m x 5m intersection spacing over the central and shallow areas) has further delineated high-grade, free milling mineralisation close to surface adjacent to historic mining operations.

As part of development planning for the Youanmi Gold Project we are looking at early development and cash flow generating opportunities including the Grace Area where mineralisation starts from surface. These results support earlier resource work and indicate a strong likelihood of economic mineralisation in this area.”

Grace Grade Control Drilling

Resource drilling to date has identified areas of high-grade near surface gold mineralisation at Grace. Grace presents as a potential opportunity for early open pit mining followed by eventual establishment of a portal at the base of the pit and underground development.

RC grade control drilling was completed on a 5m x 5m intersection spacing down to a minimum depth of 40m vertically to compliment previous resource definition drilling by Rox. This encompasses an approximately 180m x 50m area. (Figure 1).

Results have now been received for this drilling, confirming significant high-grade granite hosted gold mineralisation (Table 1).

Grace Geology

Granite-hosted gold mineralisation occurs at several sites at Youanmi, most notably Grace and the Plant Zone Prospects. Grace, discovered by Rox in December 2019, is hosted in NNW trending conjugate structures that splay off the NW-trending Mine Shear. The mineralised structure consists of a moderately W-dipping shear zone and silica- Au breccia-style veins within sericitized granite, occurring in the granite footwall of the Youanmi Main Lode. High-grade mineralisation appears within these lodes as north plunging shoots.

Metallurgical testing of both oxide and fresh RC samples from the Grace deposit confirmed excellent recoveries of up to 99.8% through conventional processing methods (ASX: RXL 03/02/2021).

Additional work has been completed as follows:

  • caprock has been removed;

  • dozer ripping trial completed to establish free dig status top 50 metres;

  • trench sampling;

  • Gemeni Table work to establish repeatability and inputs for gravity circuit design (ASX: RXL 15/07/2021);

  • detailed geotechnical analysis; and

  • waste rock characterisation.

Forward Plan

The Company continues its approach of simultaneously exploring and conducting mining studies. Ongoing and planned activities at Youanmi include:

  • Inferred to indicated resource conversion and exploration drilling;

  • Feasibility level underground and open pit metallurgical testwork;

  • Scoping level study processing plant design and costing; and

  • Mine design and environmental work.

The Company looks forward to providing updates on these as information becomes available.

==> picture [441 x 623] intentionally omitted <==

Figure 1. Grace deposit plan showing drillhole intersections and block model Au grades.

==> picture [488 x 488] intentionally omitted <==

Figure 2. Grace deposit cross-section (+/- 20m looking northwest) showing drillhole intersections and block model Au grades.

Authorised for release to the ASX by the Board of Rox Resources Limited.

* ENDS ***

For more information:

Alex Passmore Managing Director Rox Resources Limited Tel: +61 8 9226 0044 E: [email protected]

Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541

Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC001 Grace RC 11 12 1 0.93 0.93
RXGC001 Grace RC 23 25 2 3.69 7.38
Including Grace RC 23 24 1 5.44 5.44
RXGC002 Grace RC 0 1 1 0.76 0.76
RXGC002 Grace RC 38 44 6 1.48 8.88
RXGC003 Grace RC 37 41 4 0.63 2.52
RXGC004 Grace RC 30 41 11 1.18 12.98
RXGC005 Grace RC 26 27 1 2.4 2.4
RXGC007 Grace RC 40 42 2 1.39 2.78
RXGC009 Grace RC 0 3 3 5.21 15.63
Including Grace RC 1 2 1 11.67 11.67
RXGC010 Grace RC 17 23 6 10.46 62.76
Including Grace RC 17 18 1 6.91 6.91
Including Grace RC 20 21 1 50.12 50.12
RXGC011 Grace RC 22 23 1 4.95 4.95
RXGC011 Grace RC 33 40 7 35.32 247.24
Including Grace RC 33 38 5 49.26 246.3
RXGC011 Grace RC 42 44 2 1.36 2.72
RXGC012 Grace RC 0 1 1 0.61 0.61
RXGC012 Grace RC 35 36 1 1.43 1.43
RXGC012 Grace RC 38 39 1 0.78 0.78
RXGC013 Grace RC 30 41 11 1.99 21.89
Including Grace RC 32 33 1 5.11 5.11
RXGC017 Grace RC 30 32 2 1.29 2.58
RXGC019 Grace RC 22 27 5 1.23 6.15
RXGC022 Grace RC 27 32 5 11.49 57.45
Including Grace RC 27 29 2 27.31 54.62
RXGC022 Grace RC 34 36 2 1.72 3.44
RXGC024 Grace RC 20 21 1 0.53 0.53
RXGC024 Grace RC 30 41 11 1.64 18.04
RXGC025 Grace RC 8 18 10 1.57 15.7
RXGC026 Grace RC 24 25 1 0.66 0.66
RXGC027 Grace RC 46 47 1 0.7 0.7
RXGC028 Grace RC 39 41 2 0.71 1.42
RXGC029 Grace RC 38 40 2 0.71 1.42
RXGC030 Grace RC 22 27 5 1.12 5.6
RXGC030 Grace RC 40 41 1 0.81 0.81
RXGC032 Grace RC 30 31 1 0.51 0.51
RXGC033 Grace RC 29 33 4 0.98 3.92
RXGC035 Grace RC 24 26 2 0.52 1.04
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC035 Grace RC 32 41 9 1.95 17.55
Including Grace RC 36 37 1 5.07 5.07
RXGC036 Grace RC 7 16 9 1.81 16.29
RXGC036 Grace RC 24 25 1 1.04 1.04
RXGC037 Grace RC 15 16 1 1.98 1.98
RXGC037 Grace RC 23 24 1 1.22 1.22
RXGC038 Grace RC 13 14 1 7.89 7.89
Including Grace RC 13 14 1 7.89 7.89
RXGC039 Grace RC 39 42 3 0.6 1.8
RXGC041 Grace RC 19 20 1 0.67 0.67
RXGC041 Grace RC 22 27 5 1.28 6.4
RXGC041 Grace RC 35 36 1 2.81 2.81
RXGC041 Grace RC 40 41 1 0.52 0.52
RXGC042 Grace RC 0 1 1 1.51 1.51
RXGC042 Grace RC 16 17 1 1.85 1.85
RXGC043 Grace RC 13 14 1 0.59 0.59
RXGC044 Grace RC 26 27 1 1.99 1.99
RXGC046 Grace RC 0 6 6 11.85 71.1
Including Grace RC 0 1 1 6.62 6.62
Including Grace RC 3 5 2 30.57 61.14
RXGC046 Grace RC 32 40 8 1.54 12.32
RXGC047 Grace RC 5 14 9 2.21 19.89
Including Grace RC 10 11 1 5.82 5.82
RXGC049 Grace RC 11 12 1 0.55 0.55
RXGC050 Grace RC 38 42 4 0.74 2.96
RXGC051 Grace RC 37 38 1 0.95 0.95
RXGC052 Grace RC 21 31 10 0.91 9.1
RXGC054 Grace RC 9 11 2 6.19 12.38
Including Grace RC 9 10 1 11.73 11.73
RXGC055 Grace RC 23 24 1 0.74 0.74
RXGC055 Grace RC 39 40 1 0.62 0.62
RXGC057 Grace RC 28 29 1 0.6 0.6
RXGC057 Grace RC 31 41 10 1.13 11.3
RXGC058 Grace RC 7 14 7 1.55 10.85
RXGC058 Grace RC 16 17 1 0.73 0.73
RXGC061 Grace RC 32 34 2 0.94 1.88
RXGC061 Grace RC 36 40 4 1.12 4.48
RXGC063 Grace RC 20 27 7 0.88 6.16
RXGC063 Grace RC 30 33 3 2.3 6.9
Including Grace RC 30 31 1 5.57 5.57
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC064 Grace RC 4 6 2 0.99 1.98
RXGC064 Grace RC 22 23 1 0.84 0.84
RXGC065 Grace RC 4 5 1 0.98 0.98
RXGC068 Grace RC 34 41 7 1.87 13.09
RXGC072 Grace RC 33 40 7 1.26 8.82
RXGC074 Grace RC 20 22 2 2.61 5.22
RXGC074 Grace RC 26 29 3 0.57 1.71
RXGC074 Grace RC 33 34 1 1.94 1.94
RXGC076 Grace RC 3 4 1 0.7 0.7
RXGC080 Grace RC 6 11 5 1.66 8.3
RXGC081 Grace RC 0 1 1 0.53 0.53
RXGC084 Grace RC 6 7 1 0.72 0.72
RXGC086 Grace RC 25 26 1 3.39 3.39
RXGC089 Grace RC 33 36 3 1.17 3.51
RXGC089 Grace RC 38 39 1 0.75 0.75
RXGC090 Grace RC 30 40 10 0.99 9.9
RXGC091 Grace RC 3 8 5 15.23 76.15
Including Grace RC 5 7 2 35.65 71.3
RXGC091 Grace RC 18 19 1 0.51 0.51
RXGC093 Grace RC 12 15 3 1.1 3.3
RXGC093 Grace RC 27 28 1 1.17 1.17
RXGC094 Grace RC 0 1 1 0.59 0.59
RXGC094 Grace RC 26 28 2 0.59 1.18
RXGC094 Grace RC 37 38 1 1.63 1.63
RXGC094 Grace RC 40 41 1 1.09 1.09
RXGC095 Grace RC 30 31 1 0.67 0.67
RXGC095 Grace RC 32 33 1 0.77 0.77
RXGC100 Grace RC 29 30 1 0.61 0.61
RXGC100 Grace RC 33 37 4 0.99 3.96
RXGC100 Grace RC 40 41 1 0.58 0.58
RXGC101 Grace RC 1 2 1 1.12 1.12
RXGC101 Grace RC 22 23 1 3.16 3.16
RXGC102 Grace RC 0 1 1 0.55 0.55
RXGC102 Grace RC 16 17 1 0.5 0.5
RXGC103 Grace RC 36 38 2 1.47 2.94
RXGC104 Grace RC 38 40 2 4.94 9.88
Including Grace RC 38 39 1 7.7 7.7
RXGC106 Grace RC 20 21 1 1.69 1.69
RXGC109 Grace RC 3 5 2 0.79 1.58
RXGC109 Grace RC 7 9 2 7.2 14.4
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
Including Grace RC 7 9 2 7.2 14.4
RXGC109 Grace RC 13 14 1 0.58 0.58
RXGC109 Grace RC 40 41 1 0.58 0.58
RXGC110 Grace RC 25 26 1 3.29 3.29
RXGC110 Grace RC 30 31 1 0.66 0.66
RXGC110 Grace RC 33 40 7 0.64 4.48
RXGC111 Grace RC 0 3 3 0.84 2.52
RXGC111 Grace RC 19 21 2 0.62 1.24
RXGC112 Grace RC 1 2 1 0.52 0.52
RXGC113 Grace RC 22 23 1 0.59 0.59
RXGC113 Grace RC 24 25 1 0.69 0.69
RXGC113 Grace RC 35 40 5 0.85 4.25
RXGC113 Grace RC 43 44 1 0.55 0.55
RXGC115 Grace RC 3 5 2 1.01 2.02
RXGC115 Grace RC 22 26 4 1.65 6.6
RXGC115 Grace RC 37 38 1 0.84 0.84
RXGC119 Grace RC 12 14 2 1.09 2.18
RXGC121 Grace RC 31 32 1 2.79 2.79
RXGC121 Grace RC 34 35 1 0.7 0.7
RXGC121 Grace RC 45 46 1 0.61 0.61
RXGC123 Grace RC 0 1 1 0.7 0.7
RXGC123 Grace RC 41 49 8 0.83 6.64
RXGC124 Grace RC 38 44 6 1.15 6.9
RXGC125 Grace RC 0 1 1 0.6 0.6
RXGC125 Grace RC 24 25 1 5.33 5.33
Including Grace RC 24 25 1 5.33 5.33
RXGC126 Grace RC 1 2 1 0.69 0.69
RXGC127 Grace RC 39 47 8 3.47 27.76
Including Grace RC 42 43 1 15.86 15.86
RXGC128 Grace RC 36 37 1 0.88 0.88
RXGC128 Grace RC 39 41 2 0.83 1.66
RXGC129 Grace RC 9 11 2 3.18 6.36
RXGC129 Grace RC 14 15 1 0.58 0.58
RXGC131 Grace RC 1 5 4 3.99 15.96
Including Grace RC 2 3 1 9.89 9.89
RXGC133 Grace RC 1 4 3 0.89 2.67
RXGC133 Grace RC 47 50 3 0.74 2.22
RXGC134 Grace RC 0 4 4 0.67 2.68
RXGC135 Grace RC 1 2 1 0.71 0.71
RXGC135 Grace RC 47 48 1 0.51 0.51
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC136 Grace RC 1 3 2 0.63 1.26
RXGC137 Grace RC 1 3 2 0.64 1.28
RXGC137 Grace RC 49 50 1 0.53 0.53
RXGC138 Grace RC 1 2 1 0.73 0.73
RXGC138 Grace RC 46 47 1 1.02 1.02
RXGC139 Grace RC 0 3 3 0.63 1.89
RXGC140 Grace RC 0 3 3 0.69 2.07
RXGC141 Grace RC 2 3 1 0.55 0.55
RXGC142 Grace RC 2 3 1 0.82 0.82
RXGC142 Grace RC 43 44 1 1.8 1.8
RXGC143 Grace RC 0 3 3 0.83 2.49
RXGC143 Grace RC 41 46 5 14.29 71.45
Including Grace RC 43 45 2 32.1 64.2
RXGC143 Grace RC 49 50 1 0.52 0.52
RXGC144 Grace RC 1 3 2 0.69 1.38
RXGC144 Grace RC 43 45 2 1.85 3.7
RXGC145 Grace RC 2 4 2 2.01 4.02
RXGC146 Grace RC 1 4 3 2.7 8.1
Including Grace RC 2 3 1 6.23 6.23
RXGC147 Grace RC 0 3 3 0.63 1.89
RXGC147 Grace RC 42 43 1 0.96 0.96
RXGC147 Grace RC 46 47 1 0.65 0.65
RXGC148 Grace RC 3 4 1 0.52 0.52
RXGC149 Grace RC 2 3 1 0.84 0.84
RXGC149 Grace RC 41 45 4 0.61 2.44
RXGC149 Grace RC 48 49 1 1.63 1.63
RXGC150 Grace RC 0 3 3 0.74 2.22
RXGC150 Grace RC 42 43 1 3 3
RXGC151 Grace RC 2 4 2 0.95 1.9
RXGC152 Grace RC 2 3 1 0.84 0.84
RXGC152 Grace RC 41 43 2 0.82 1.64
RXGC153 Grace RC 0 2 2 0.54 1.08
RXGC153 Grace RC 41 43 2 0.98 1.96
RXGC153 Grace RC 45 46 1 0.81 0.81
RXGC154 Grace RC 2 3 1 0.73 0.73
RXGC154 Grace RC 6 7 1 0.5 0.5
RXGC154 Grace RC 41 45 4 1.01 4.04
RXGC154 Grace RC 48 49 1 0.72 0.72
RXGC154 Grace RC 56 57 1 0.59 0.59
RXGC155 Grace RC 0 4 4 0.53 2.12
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC155 Grace RC 39 41 2 0.68 1.36
RXGC155 Grace RC 45 46 1 0.65 0.65
RXGC155 Grace RC 54 55 1 0.67 0.67
RXGC156 Grace RC 1 4 3 0.72 2.16
RXGC157 Grace RC 0 3 3 1.44 4.32
RXGC157 Grace RC 42 45 3 0.84 2.52
RXGC158 Grace RC 0 2 2 0.89 1.78
RXGC159 Grace RC 0 4 4 0.73 2.92
RXGC159 Grace RC 41 42 1 0.78 0.78
RXGC159 Grace RC 44 46 2 1.67 3.34
RXGC159 Grace RC 52 53 1 3.11 3.11
RXGC160 Grace RC 0 3 3 0.99 2.97
RXGC160 Grace RC 46 47 1 0.68 0.68
RXGC161 Grace RC 0 3 3 0.59 1.77
RXGC161 Grace RC 46 51 5 0.73 3.65
RXGC162 Grace RC 0 2 2 0.71 1.42
RXGC162 Grace RC 45 47 2 1.63 3.26
RXGC163 Grace RC 1 8 7 1.32 9.24
RXGC163 Grace RC 48 50 2 1.24 2.48
RXGC164 Grace RC 1 2 1 0.65 0.65
RXGC164 Grace RC 51 52 1 0.68 0.68
RXGC165 Grace RC 1 3 2 0.75 1.5
RXGC165 Grace RC 20 22 2 2.69 5.38
RXGC166 Grace RC 0 2 2 1.06 2.12
RXGC166 Grace RC 44 45 1 1.44 1.44
RXGC167 Grace RC 0 2 2 0.73 1.46
RXGC167 Grace RC 27 28 1 0.56 0.56
RXGC167 Grace RC 51 53 2 0.71 1.42
RXGC168 Grace RC 1 2 1 1.15 1.15
RXGC168 Grace RC 17 18 1 1.24 1.24
RXGC168 Grace RC 26 27 1 3.65 3.65
RXGC168 Grace RC 50 51 1 3.83 3.83
RXGC169 Grace RC 0 3 3 0.71 2.13
RXGC169 Grace RC 6 7 1 4.97 4.97
RXGC169 Grace RC 9 10 1 2.2 2.2
RXGC169 Grace RC 18 19 1 0.83 0.83
RXGC170 Grace RC 0 5 5 1.05 5.25
RXGC170 Grace RC 24 26 2 1.69 3.38
RXGC170 Grace RC 40 41 1 0.52 0.52
RXGC170 Grace RC 48 55 7 6.46 45.22
Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
Including Grace RC 48 49 1 5.41 5.41
Including Grace RC 52 54 2 17.38 34.76
RXGC171 Grace RC 0 2 2 1.18 2.36
RXGC171 Grace RC 47 49 2 1.48 2.96
RXGC172 Grace RC 0 3 3 0.84 2.52
RXGC172 Grace RC 5 8 3 0.73 2.19
RXGC172 Grace RC 25 30 5 1.87 9.35
RXGC172 Grace RC 45 47 2 2.02 4.04
RXGC172 Grace RC 52 55 3 0.92 2.76
RXGC173 Grace RC 0 2 2 1.09 2.18
RXGC173 Grace RC 35 37 2 22.69 45.38
Including Grace RC 35 36 1 43.9 43.9
RXGC173 Grace RC 57 59 2 0.84 1.68
RXGC174 Grace RC 0 3 3 1.12 3.36
RXGC174 Grace RC 29 30 1 1.44 1.44
RXGC174 Grace RC 43 44 1 0.5 0.5
RXGC174 Grace RC 51 55 4 1.47 5.88
RXGC175 Grace RC 0 3 3 0.9 2.7
RXGC175 Grace RC 20 24 4 1.27 5.08
RXGC175 Grace RC 44 50 6 1.12 6.72
RXGC175 Grace RC 52 54 2 1.39 2.78
RXGC175 Grace RC 56 57 1 0.76 0.76
RXGC176 Grace RC 0 2 2 0.71 1.42
RXGC176 Grace RC 12 13 1 11.25 11.25
RXGC176 Grace RC 18 22 4 2.9 11.6
Including Grace RC 18 19 1 5.01 5.01
RXGC176 Grace RC 43 44 1 1.05 1.05
RXGC176 Grace RC 48 49 1 1.63 1.63
RXGC176 Grace RC 52 58 6 1.11 6.66
RXGC177 Grace RC 0 3 3 1.01 3.03
RXGC177 Grace RC 44 50 6 1.39 8.34
RXGC178 Grace RC 0 2 2 0.82 1.64
RXGC178 Grace RC 6 7 1 1.67 1.67
RXGC178 Grace RC 51 60 9 1.06 9.54
RXGC179 Grace RC 29 31 2 6.12 12.24
RXGC179 Grace RC 48 50 2 1.7 3.4
RXGC179 Grace RC 52 54 2 1.04 2.08
RXGC180 Grace RC 0 2 2 0.79 1.58
RXGC180 Grace RC 16 17 1 1.06 1.06
RXGC180 Grace RC 45 60 15 1.4 21
Table 1 – Significant Intersections Table 1 – Significant Intersections Table 1 – Significant Intersections
Hole ID Prospect **Drill type ** From to Interval Aug/t Aug.m
RXGC181 Grace RC 44 45 1 0.7
0.7
RXGC183 Grace RC 41 43 2 1.28
2.56

Table 2 - Collar Locations and Drilling Details

Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details
Hole ID Prospect Drill East North RL Depth Dip Azi
RXGC001 Grace RC 680119 6833711 457 51 -53 275
RXGC002 Grace RC 680119 6833711 457 44 -69 276
RXGC003 Grace RC 680119 6833711 457 42 -88 276
RXGC004 Grace RC 680133 6833711 457 41 -90 174
RXGC005 Grace RC 680119 6833707 457 47 -61 279
RXGC006 Grace RC 680119 6833707 457 42 -80 284
RXGC007 Grace RC 680126 6833707 457 42 -89 239
RXGC009 Grace RC 680154 6833707 456 26 -90 0
RXGC010 Grace RC 680119 6833704 457 51 -53 276
RXGC011 Grace RC 680119 6833704 457 44 -70 281
RXGC012 Grace RC 680119 6833704 457 42 -90 63
RXGC013 Grace RC 680133 6833704 456 41 -90 309
RXGC015 Grace RC 680161 6833704 456 26 -90 0
RXGC016 Grace RC 680119 6833700 457 47 -61 276
RXGC017 Grace RC 680119 6833700 457 42 -79 282
RXGC018 Grace RC 680126 6833700 457 42 -90 276
RXGC019 Grace RC 680140 6833700 456 41 -90 238
RXGC021 Grace RC 680119 6833697 457 51 -54 273
RXGC022 Grace RC 680119 6833697 457 44 -70 276
RXGC024 Grace RC 680133 6833697 456 41 -89 348
RXGC025 Grace RC 680147 6833697 456 26 -90 0
RXGC026 Grace RC 680161 6833697 456 26 -90 0
RXGC027 Grace RC 680119 6833693 457 47 -59 278
RXGC028 Grace RC 680119 6833693 457 42 -80 273
RXGC029 Grace RC 680126 6833693 456 41 -90 287
RXGC030 Grace RC 680140 6833693 456 41 -89 262
RXGC032 Grace RC 680119 6833690 457 51 -55 276
RXGC033 Grace RC 680119 6833690 457 45 -69 278
RXGC034 Grace RC 680119 6833690 457 42 -90 324
RXGC035 Grace RC 680133 6833690 456 41 -89 242
RXGC036 Grace RC 680147 6833690 456 26 -90 0
RXGC037 Grace RC 680161 6833690 456 26 -90 0
RXGC038 Grace RC 680119 6833686 457 47 -55 275
RXGC039 Grace RC 680119 6833686 457 42 -79 283
RXGC040 Grace RC 680126 6833686 456 41 -90 198
RXGC041 Grace RC 680140 6833686 456 41 -89 277
RXGC042 Grace RC 680154 6833686 456 26 -90 0
RXGC043 Grace RC 680119 6833683 457 51 -54 272

Table 2 - Collar Locations and Drilling Details

Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details
Hole ID Prospect Drill East North RL Depth Dip Azi
RXGC044 Grace RC 680119 6833683 457 44 -70 271
RXGC045 Grace RC 680119 6833683 457 42 -89 166
RXGC046 Grace RC 680133 6833683 456 41 -89 354
RXGC047 Grace RC 680147 6833683 456 26 -90 0
RXGC049 Grace RC 680119 6833679 457 47 -62 273
RXGC050 Grace RC 680119 6833679 457 42 -80 282
RXGC051 Grace RC 680126 6833679 456 41 -88 272
RXGC052 Grace RC 680140 6833679 456 41 -90 75
RXGC054 Grace RC 680119 6833676 457 51 -54 275
RXGC055 Grace RC 680119 6833676 457 44 -69 274
RXGC056 Grace RC 680119 6833676 457 43 -89 307
RXGC057 Grace RC 680133 6833676 456 41 -88 346
RXGC058 Grace RC 680147 6833676 456 26 -90 0
RXGC061 Grace RC 680119 6833672 457 43 -80 270
RXGC062 Grace RC 680126 6833672 456 41 -89 283
RXGC063 Grace RC 680140 6833672 456 41 -89 153
RXGC064 Grace RC 680154 6833672 456 26 -90 0
RXGC065 Grace RC 680119 6833669 457 51 -53 273
RXGC066 Grace RC 680119 6833669 457 44 -70 279
RXGC067 Grace RC 680119 6833669 457 41 -90 96
RXGC068 Grace RC 680133 6833669 456 41 -88 5
RXGC071 Grace RC 680119 6833665 456 47 -62 271
RXGC072 Grace RC 680119 6833665 456 42 -79 274
RXGC073 Grace RC 680126 6833665 456 41 -89 34
RXGC074 Grace RC 680140 6833665 456 41 -90 167
RXGC076 Grace RC 680119 6833662 456 51 -53 274
RXGC077 Grace RC 680119 6833662 456 44 -69 278
RXGC078 Grace RC 680119 6833662 456 41 -89 12
RXGC080 Grace RC 680147 6833662 456 25 -90 0
RXGC081 Grace RC 680161 6833662 456 26 -90 0
RXGC082 Grace RC 680119 6833658 456 47 -57 274
RXGC084 Grace RC 680126 6833658 456 41 -90 241
RXGC085 Grace RC 680140 6833658 456 41 -90 216
RXGC086 Grace RC 680154 6833658 456 26 -90 0
RXGC087 Grace RC 680119 6833655 456 51 -55 272
RXGC088 Grace RC 680119 6833655 456 44 -70 264
RXGC089 Grace RC 680119 6833655 456 41 -89 335
RXGC090 Grace RC 680133 6833655 456 41 -90 257
RXGC091 Grace RC 680147 6833655 456 25 -90 0
RXGC092 Grace RC 680119 6833651 456 47 -62 273
RXGC093 Grace RC 680119 6833651 456 42 -81 273
RXGC094 Grace RC 680126 6833651 456 41 -90 259
RXGC095 Grace RC 680140 6833651 455 40 -89 77

Table 2 - Collar Locations and Drilling Details

Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details
Hole ID Prospect Drill East North RL Depth Dip Azi
RXGC097 Grace RC 680119 6833648 456 51 -53 280
RXGC098 Grace RC 680119 6833648 456 44 -70 277
RXGC099 Grace RC 680119 6833648 456 41 -90 342
RXGC100 Grace RC 680133 6833648 455 41 -90 202
RXGC101 Grace RC 680147 6833648 455 25 -90 0
RXGC102 Grace RC 680119 6833644 456 47 -61 280
RXGC103 Grace RC 680119 6833644 456 42 -79 285
RXGC104 Grace RC 680126 6833644 455 40 -89 356
RXGC105 Grace RC 680140 6833644 455 25 -90 0
RXGC106 Grace RC 680154 6833644 455 25 -90 0
RXGC107 Grace RC 680119 6833641 456 51 -54 284
RXGC109 Grace RC 680119 6833641 456 41 -88 296
RXGC110 Grace RC 680133 6833641 455 40 -89 225
RXGC111 Grace RC 680147 6833641 455 25 -90 0
RXGC112 Grace RC 680119 6833641 456 51 -54 248
RXGC113 Grace RC 680119 6833641 456 44 -70 254
RXGC114 Grace RC 680123 6833639 456 47 -64 259
RXGC115 Grace RC 680123 6833639 456 42 -79 258
RXGC116 Grace RC 680126 6833637 455 51 -54 262
RXGC117 Grace RC 680126 6833637 455 44 -69 255
RXGC118 Grace RC 680126 6833637 455 40 -87 236
RXGC119 Grace RC 680140 6833637 455 25 -90 0
RXGC120 Grace RC 680154 6833637 455 25 -90 0
RXGC121 Grace RC 680130 6833636 455 47 -58 258
RXGC122 Grace RC 680130 6833636 455 42 -79 264
RXGC123 Grace RC 680133 6833634 455 51 -56 255
RXGC124 Grace RC 680133 6833634 455 44 -70 256
RXGC125 Grace RC 680133 6833634 455 25 -90 0
RXGC126 Grace RC 680147 6833634 455 25 -90 0
RXGC127 Grace RC 680137 6833632 455 47 -59 249
RXGC128 Grace RC 680137 6833632 455 42 -90 0
RXGC129 Grace RC 680140 6833630 455 26 -90 0
RXGC130 Grace RC 680154 6833630 455 26 -90 13
RXGC131 Grace RC 680147 6833627 455 25 -89 322
RXGC132 Grace RC 680154 6833623 457 26 -88 122
RXGC133 Grace RC 680164 6833554 457 60 -60 251
RXGC134 Grace RC 680167 6833559 457 48 -60 257
RXGC135 Grace RC 680157 6833556 457 60 -60 257
RXGC136 Grace RC 680171 6833564 458 35 -61 258
RXGC137 Grace RC 680161 6833561 457 60 -61 257
RXGC138 Grace RC 680151 6833558 457 60 -62 259
RXGC139 Grace RC 680164 6833566 457 49 -62 254
RXGC140 Grace RC 680155 6833563 457 60 -58 254

Table 2 - Collar Locations and Drilling Details

Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details Table 2 - Collar Locations and Drilling Details
Hole ID Prospect Drill East North RL Depth Dip Azi
RXGC141 Grace RC 680168 6833571 457 48 -61 253
RXGC142 Grace RC 680159 6833568 458 60 -61 254
RXGC143 Grace RC 680148 6833565 457 60 -61 257
RXGC144 Grace RC 680162 6833573 458 52 -61 255
RXGC145 Grace RC 680152 6833570 458 60 -62 257
RXGC146 Grace RC 680165 6833578 458 42 -61 252
RXGC147 Grace RC 680156 6833575 458 60 -60 255
RXGC148 Grace RC 680145 6833572 458 60 -62 252
RXGC149 Grace RC 680159 6833580 458 56 -59 250
RXGC150 Grace RC 680149 6833577 458 60 -62 254
RXGC151 Grace RC 680163 6833585 458 42 -59 251
RXGC152 Grace RC 680153 6833582 458 60 -60 253
RXGC153 Grace RC 680143 6833579 458 60 -62 253
RXGC154 Grace RC 680156 6833587 458 60 -59 253
RXGC155 Grace RC 680147 6833584 458 60 -61 249
RXGC156 Grace RC 680160 6833592 458 48 -59 252
RXGC157 Grace RC 680150 6833589 458 60 -59 253
RXGC158 Grace RC 680140 6833586 457 60 -61 253
RXGC159 Grace RC 680154 6833594 458 60 -60 251
RXGC160 Grace RC 680144 6833591 458 60 -60 257
RXGC161 Grace RC 680157 6833599 457 60 -60 252
RXGC162 Grace RC 680148 6833596 458 60 -59 257
RXGC163 Grace RC 680137 6833593 457 60 -59 261
RXGC164 Grace RC 680151 6833601 457 60 -58 254
RXGC165 Grace RC 680142 6833598 458 60 -58 254
RXGC166 Grace RC 680155 6833606 457 60 -58 252
RXGC167 Grace RC 680145 6833603 457 60 -58 255
RXGC168 Grace RC 680135 6833600 458 60 -58 252
RXGC169 Grace RC 680149 6833608 457 60 -58 254
RXGC170 Grace RC 680139 6833605 457 60 -58 253
RXGC171 Grace RC 680152 6833613 457 60 -58 252
RXGC172 Grace RC 680143 6833610 458 60 -58 252
RXGC173 Grace RC 680132 6833607 457 60 -57 255
RXGC174 Grace RC 680146 6833615 457 60 -58 254
RXGC175 Grace RC 680136 6833612 458 60 -58 255
RXGC176 Grace RC 680149 6833621 457 60 -56 255
RXGC177 Grace RC 680140 6833618 457 60 -58 249
RXGC178 Grace RC 680129 6833614 457 60 -58 252
RXGC179 Grace RC 680143 6833622 457 60 -58 257
RXGC180 Grace RC 680133 6833619 457 60 -59 256
RXGC181 Grace RC 680070 6833755 459 60 -55 251
RXGC182 Grace RC 680082 6833758 459 60 -56 247
RXGC183 Grace RC 680095 6833763 458 60 -56 251

Competent Person Statements

Exploration Results

The information in this report that relates to Data and Exploration Results is based on information compiled and reviewed by Mr Gregor Bennett a Competent Person who is a Member of the Australian Institute Geoscientists (AIG) and Exploration Manager at Rox Resources. Mr Bennett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bennett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results was prepared and first disclosed under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX.

Resource Statements

The Statement of Estimates of Mineral Resources for the Youanmi Near Surface Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 20th April 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources for the Youanmi Underground Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 20th January 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources that relates to gold Mineral Resources for the Mt Fisher project was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 11th July 2018. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

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.

About Rox Resources

Rox Resources (ASX:RXL) is a West Australian focused gold exploration and development company. It is 70 per cent owner and operator of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and wholly-owns the Mt Fisher Gold project approximately 140 kilometres southeast of Wiluna. Youanmi has a Total Mineral Resource of 3,199 koz of contained gold, with potential for further expansion with the integration of existing prospects into the Resource and further drilling. Youanmi was a high-grade gold mine and produced 667,000oz of gold (at 5.47 g/t Au) before it closed in 1997. Youanmi is classified as a disturbed site and is on existing mining leases which has significant existing infrastructure to support a return to mining operations.

JORC Table 1 - Section 1 Data and Sampling Techniques

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.
Drill holes were generally angled at -600towards grid
northeast (but see Table for individual hole dips and
azimuths)
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 differential 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
RC drillholes were sampled on 1m intervals using a cone
splitter.
Samples were sent to ALS in Perth, crushed to 10mm, dried
and pulverised (total prep) in LM5 units (Some samples >
3kg were split) to produce a sub-sample. Pulps were
analysed by 50g Fire Assay AAS finish (ALS code Au-
AA26).
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 technique was Reverse Circulation (RC). The RC
hole diameter was 140mm face sampling hammer. Hole
depths reported range from 40m to 60m for RC.
Drill sample
recovery		 Method of recording and assessing core and chip
sample recoveries and results assessed
RC drill recoveries were high (>90%).
Measures taken to maximise sample recovery and
ensure representative nature of the samples
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.
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,
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.
Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc) photography.
Logging of RC chips recorded lithology, mineralogy,
mineralisation, weathering, colour, and other sample
features. 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.
Criteria JORC Code explanation
Commentary
Sub-sampling
techniques and
sample
preparation
Quality of assay
data and
laboratory tests
Verification of
sampling and
assaying
Criteria JORC Code explanation
Commentary
Location of data
points
Data spacing and
distribution
Orientation of
data in relation
to geological
structure
Sample security
Audits or
reviews

JORC Table 1 - 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.
Rox Resources Ltd is in a Joint Venture Agreement with
Venus Metals Corporation Ltd under which it has a 70%
interest in the Youanmi Gold Mine Joint Venture (OYG Joint
Venture).
Tenements in the JV consist of the following mining leases:
M 57s /10, 51,76,97,109, 135, 160A, 164, 165, 166 and 167.
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 is in good standing and no known
impediments exist.
Exploration done
by other parties		 Acknowledgment and appraisal of exploration by other
parties.
Significant previous exploration has been carried out
throughout the project by various companies, including
AC/RAB, RC drilling and diamond drilling
1971-1973 WMC: RAB, RC and surface diamond drilling
1976
Newmont:
10
surface
diamond
drillholes
(predominantly targeting base metals).
1980-1986 BHP: RAB, RC and surface diamond drilling
(predominantly targeting base metals).
1986-1993 Eastmet: RAB, RC and surface diamond drilling.
1993-1997 Goldmines of Australia: RAB, RC and surface
diamond drilling. Underground mining and associated
underground diamond drilling.
2000-2003 Aquila Resources Ltd: Shallow RAB and RC
drilling
2004-2005 Goldcrest Resources Ltd: Shallow RAB and RC
drilling; data validation.
2007- 2013 Apex Minerals NL: 9 diamond holes targeting
extensions to the Youanmi deeps resource.
Criteria JORC Code explanation Commentary
Geology The Youanmi Project straddles a 40km strike length of the
Youanmi Greenstone Belt, lying within the Southern Cross
Province of the Archaean Yilgarn Craton in Western
Australia. The greenstone belt is approximately 80km long
and 25km wide, and incorporates an arcuate, north-trending
major crustal structure termed the Youanmi Fault Zone. This
structure separates two discordant greenstone terrains, with
the stratigraphy to the west characterised by a series of
weakly deformed, layered mafic complexes (Windimurra,
Black Range, Youanmi and Barrambie) enveloped by
strongly deformed, north-northeast trending greenstones.
Gold mineralisation is developed semi-continuously in shear
zones over a strike length of 2,300m along the western
margin of the Youanmi granite.
Gold is intimately associated with sulphide minerals and
silicates in zones of strong hydrothermal alteration and
structural deformation. Typical Youanmi lode material
consists of a sericite- carbonate- quartz- pyrite- arsenopyrite
schist or mylonite which frequently contains significant
concentrations of gold, commonly as fine, free gold particles
in the silicates, occluded in sulphide minerals and in solid
Deposit type, geological
setting
and
style		 of solution in arsenopyrite. The lodes contain between 10% and
mineralisation. 25% sulphide, the principal species being pyrite (10% to
20%) and arsenopyrite (1% to 5%).
There are a series of major fault systems cutting through the
Youanmi trend mineralisation that have generated some
significant off-sets.
The Youanmi Deeps project area is subdivided into three
main areas or fault blocks by cross-cutting steep south-east
trending faults; and these are named Pollard, Main, and Hill
End from south to north respectively.
Granite hosted gold mineralisation occurs at several sites,
most notably Grace and the Plant Zone Prospects. Gold
mineralization occurs as free particles within quartz-sericite
altered granite shear zones.
The Commonwealth-Connemarra mineralised trend is
centred 4km northwest of the Youanmi plant. The geology
comprises a sequence of folded mafic and felsic volcanic
rocks intercalated with BIF and intruded by granite along the
eastern margin. Gold mineralisation is developed over a
600m strike length, associated with a north trending and
steeply west dipping shear zone that traverses the northwest
trending succession.
Drill hole A summary of all information material to the
Information 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 Refer to drill results Table/s and the Notes attached thereto.
above sea level in metres) of the drill hole
collar
• dip and azimuth of the hole
• down hole length and interception depth
• hole length.
Criteria JORC Code explanation
Commentary
Data aggregation
methods
Relationship
between
mineralisation
widths and
intercept lengths
Diagrams
Balanced
reporting
Other
substantive
exploration data
Further work

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