ROX RESOURCES LIMITED — Capital/Financing Update 2022

Apr 10, 2022

ASX ANNOUNCEMENT

11 April 2022

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	$0.39
Market Cap.	$65.8m
Cash	$9.6m
(pro-forma 31 Dec 2021
+ $4m capital raising,
exc. costs, completed in
March 2022)

Level 2, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

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

Follow Rox:

More High-Grade Results Ahead of Near Surface Resource Update, Youanmi Gold Project

RRL1817D

Highlights:

• Results improve confidence in mineralised zones in near mine areas
• Latest results from Link include:
  • RXRC429: 4m @ 4.41g/t Au from 128m
  • RXDD043: 4m @ 4.43g/t Au from 52m
  • RXDD039: 1m @ 13.44g/t Au from 384m
  • RXDD044: 2m @ 5.41g/t Au from 286m
• Drilling near historical underground workings intersects high gold grades:
  • RXRC452: 5m @ 9.82g/t Au from 198m, including 3m @ 15.86g/t Au from 198m
  • RXRC447: 4m @ 6.26g/t Au from 84m, and 6m @ 4.5g/t Au from 260m
  • RXDD038: 2m @ 11.8g/t Au from 109m
  • RXRC442: 4m @ 2.99g/t Au from 156m
• Near Surface Mineral Resource update targeted mid-April

West Australian 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 provide an update on drill results from the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).

____________________________________________________________

The latest round of high-grade drilling results were received from shallower parts of the Link area, and near pre-1942 stopes of the historical mine.

Managing Director Alex Passmore commented: "The further high-grade results from the Link area will likely contribute to the Youanmi Near Surface Resource. Results from near mine drilling further support the Company's belief in the potential for high-grade mineralisation near historic mine development.

We look forward to providing an update on the Near Surface Resource in mid-April which consolidates near-surface drilling results.

The Company continues simultaneously exploring and conducting mining studies as we progress the Youanmi Gold Project toward the potential restart of operations."

Resource Infill at Link Prospect

Drilling at Link focussed on resource conversion and extensional drilling to grow the recently reported resource inventory at Youanmi of 3Moz at 3.78g/t Au (ASX: RXL 20 January 2022). At the 0.5g/t resource cut off, results from this zone are expected to add inventory to the indicated category of the Youanmi Near Surface Resource.

Drilling to date at Link has defined a zone of high-grade mineralisation more than 200m from historical underground and open pit workings with extensive down-plunge continuity of high-grade ore zones.

Mineralisation at Link remains open down plunge to the northwest and up plunge to the southeast (Figure 1).

Results were received from shallow infill RC drilling at Link aimed at achieving conversion of inferred to indicated resource in this area (Figure 1).

Highlights include:

• RXDD043: 4m @ 4.43g/t Au from 52m
• RXRC429: 4m @ 4.41g/t Au from 128m
• RXRC435: 10m @ 1.39g/t Au from 76m, including 2m @ 4.1g/t Au from 84m

As well as further de-risking the project, the results reconcile well with inferred resource block grades in this area and demonstrate ore continuity. The results from infill drilling continue to add confidence in the Near Surface Resource model.

Results were also received from extensional drilling down plunge for the historical Hill End underground mine.

Highlights include:

• RXDD039: 1m @ 13.44g/t Au from 384m and 0.89m @ 3.89g/t Au from 344m
• RXDD044: 2m @ 5.41g/t Au from 286m and 0.39m @ 3.44g/t Au from 334.72m

These encouraging results demonstrate continuity of the mineralised structure down plunge of the Hill End Mine. Future drilling will test down dip and down plunge to target areas where thickening of mineralised zones is likely.

ASX CODE: RXL

Figure 1: Link target area long-section looking northeast

Additional high gold grades intersected near historical underground workings

Results from drilling that tested for extensions to the historically mined high-grade stopes - in conjunction with previously reported results (ASX: RXL 22 February 2022) - continue to define an area of high-grade material within close proximity to existing underground development, and serve to convert the inferred resource to indicated status, which will likely contribute to early production plans.

Highlights from latest results include:

• RXRC452: 5m @ 9.82g/t Au from 198m, including 3m @ 15.86g/t Au from 198m
• RXRC447: 4m @ 6.26g/t Au from 84m, and 6m @ 4.5g/t Au from 260m
• RXDD038: 2m @ 11.8g/t Au from 109m
• RXRC442: 4m @ 2.99g/t Au from 156m

ASX CODE: RXL

E: admin@roxresources.com.au www.roxresources.com.au

Previously reported high-grade intersections include (ASX: RXL 22 February 2022)

• RXDD031: 3.25m @ 32.22g/t Au from 282m and 4.38m @ 3.65g/t Au from 286.82m
• RXDD040: 4m @ 10.91g/t Au from 196m and 2.66m @ 11.6g/t Au from 307.15m
• RXDD037: 1.12m @ 48.01g/t Au from 299.78m
• RXDD036: 2.09m @ 5.71g/t Au from 281.82m and 3.51m @ 3.54g/t Au from 294.3m
• RXRC418: 3m @ 3.33g/t Au from 273m and 4m @ 4.78g/t Au from 284m
• RXDD034: 0.73m @ 38.65g/t Au from 266.6m
• RXDD033: 1.2m @ 5.84g/t Au from 149.6m and 0.35m @ 9.13g/t Au from 154.27m

Assay results are pending for 7 RC holes drilled in near mine areas and drilling is ongoing.

Figure 2: Long section looking northeast showing historically mined stopes and recent diamond drilling results.

ASX CODE: RXL

E: admin@roxresources.com.au www.roxresources.com.au

Forward Plan

An update to the Youanmi Near Surface Resource is expected to be announced mid-April 2022.

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.

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: admin@roxresources.com.au Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541

ASX CODE: RXL

Hole IDProspectDrill typeFromtoIntervalAu g/tAu g.mRXRC424Mine LodeRC0440.642.56RXRC424Mine LodeRC16717140.652.6RXRC424Mine LodeRC22522721.73.4RXRC429LinkRC404441.14.39RXRC429LinkRC848840.522.08RXRC429LinkRC12813244.4117.64RXRC429LinkRC19419841.787.1RXRC429LinkRC21521722.124.24RXRC429LinkRC22523051.859.25RXRC431LinkRC10510612.892.89RXRC431LinkRC19820024.168.32RXRC431LinkRC23724252.2111.05RXRC432LinkRC14815131.75.09RXRC432LinkRC16216312.292.29RXRC432LinkRC16516610.790.79RXRC432LinkRC17317411.651.65RXRC432LinkRC20421060.623.74RXRC433LinkRC959941.66.39RXRC433LinkRC13513722.334.66RXRC433LinkRC17017880.977.72RXRC434LinkRC444841.144.55RXRC434LinkRC15015440.662.64RXRC434LinkRC19019441.757RXRC435LinkRC323640.62.4RXRC435LinkRC7686101.3913.91IncludingLinkRC848624.18.2RXRC435LinkRC12412842.058.2RXRC435LinkRC14915011.391.39RXRC435LinkRC16216640.622.49RXRC435LinkRC17417840.552.21RXRC435LinkRC19820022.755.5RXRC439Mine LodeRC11211641.616.44RXRC439Mine LodeRC15216080.665.27RXRC440Mine LodeRC11211310.60.6RXRC440Mine LodeRC12512610.80.8RXRC440Mine LodeRC13513611.941.94RXRC441Mine LodeRC14014440.883.51RXRC441Mine LodeRC15616480.564.46RXRC441Mine LodeRC17618040.632.52RXRC442Mine LodeRC15616042.9911.95RXRC443KathleenRC18418841.395.54	Table 1 -Significant Intersections
RXRC443KathleenRC21221640.712.82
RXRC443KathleenRC24424840.62.4

ASX CODE: RXL

Table 1 -Significant Intersections
Hole ID	Prospect	Drill type	From	to	Interval	Au g/t	Au g.m
RXRC447	Mine Lode HW	RC	84	88	4	6.26	25.04
RXRC447	Mine Lode	RC	260	266	6	4.5	27
RXRC452	Mine Lode	RC	198	203	5	9.82	49.1
Including	Mine Lode	RC	198	201	3	15.86	47.58
RXDD038	Mine Lode	DD	109	111	2	11.8	23.59
RXDD038	Mine Lode	DD	271.2	275.5	4.3	2.57	11.04
RXDD038	Mine Lode	DD	278.39	279.63	1.24	2.18	2.71
RXDD039	Link	DD	293.42	293.73	0.31	1.02	0.32
RXDD039	Link	DD	304.79	308	3.21	1.01	3.24
RXDD039	Link	DD	318.1	323.77	5.67	1.68	9.55
RXDD039	Link	DD	344	344.89	0.89	3.89	3.46
RXDD039	Link	DD	384	385	1	13.44	13.44
RXDD039	Link	DD	407	408.92	1.92	0.97	1.86
RXDD043	Link	DD	52	56	4	4.43	17.72
RXDD043	Link	DD	118	122	4	0.52	2.08
RXDD043	Link	DD	130	134	4	1.67	6.67
RXDD043	Link	DD	157	161	4	1.03	4.11
RXDD043	Link	DD	182	186	4	2.02	8.08
RXDD043	Link	DD	276	284	8	0.98	7.82
RXDD043	Link	DD	288	296	8	0.72	5.75
RXDD043	Link	DD	345.55	350	4.45	1.17	5.19
RXDD043	Link	DD	352	353	1	0.6	0.6
RXDD043	Link	DD	362.67	363.31	0.64	0.58	0.37
RXDD043	Link	DD	384.5	385	0.5	0.7	0.35
RXDD044	Link	DD	96	100	4	0.64	2.56
RXDD044	Link	DD	112	124	12	1.47	17.6
RXDD044	Link	DD	192	196	4	1.6	6.4
RXDD044	Link	DD	248	252	4	1.09	4.35
RXDD044	Link	DD	286	288	2	5.41	10.83
RXDD044	Link	DD	318.34	318.88	0.54	1.36	0.73
RXDD044	Link	DD	334.72	335.11	0.39	3.44	1.34
RXDD044	Link	DD	342	344.1	2.1	0.91	1.92
RXDD044	Link	DD	346	350	4	0.58	2.34
RXDD044	Link	DD	354.55	355.3	0.75	1.84	1.38
RXDD044	Link	DD	359	359.8	0.8	0.78	0.62
RXDD044	Link	DD	364.38	365.47	1.09	1.77	1.93
RXDD044	Link	DD	395	397	2	0.65	1.29
RXDD044	Link	DD	401	404	3	0.93	2.79

Table 2 -		Collar Locations and Drilling Details
Hole ID	Prospect	Drill	East	North	RL	Depth	Dip	Azi	Comments
RXRC424	Mine Lode	TypeRC	679609	6833999	472	270	-52	60
RXRC429	Link	RC	679225	6834544	467	290	-68	70
RXRC431	Link	RC	679315	6834382	466.5	246	-60	60
RXRC432	Link	RC	679350	6834436	466.5	222	-62	65
RXRC433	Link	RC	679377	6834557	466	200	-60	65
RXRC434	Link	RC	679398	6834476	466	210	-61	63
RXRC435	Link	RC	679397	6834527	466	200	-60	67
RXRC439	Mine Lode	RC	679709	6834129	469	170	-58	60
RXRC440	Mine Lode	RC	679715	6834108	468	186	-55	60
RXRC441	Mine Lode	RC	679694	6834017	466	180	-54	61
RXRC442	Mine Lode	RC	679694	6834016	466	186	-55	95
RXRC443	Kathleen	RC	678971	6834791	470	286	-58	63
RXRC445	Mine Lode	RC	679607	6833875	477	300	-58	82	Assays pending
RXRC446	Mine Lode	RC	679623	6833861	477	300	-54	78	Assays pending
RXRC447	Mine Lode	RC	679624	6833861	477	303.5	-61	87
RXRC448	Mine Lode	RC	679604	6833997	472	270	-56	62	Assays pending
RXRC449	Hanging wall	RC	679658	6833246	457	305	-60	30	Assays pending
RXRC450	Mine Lode	RC	679595	6834015	476.88	270	-55	60	Assays pending
RXRC451	Mine Lode	RC	679556	6834137	481	276	-65	65	Assays pending
RXRC452	Mine Lode	RC	679730	6833779	460	100	-68	40
RXRC453	Mine Lode	RC	679686	679686	470	156	-70	65	Assays pending
RXDD038	Mine Lode	DD	679605	6833853	478	323.1	-60	54
RXDD039	Link	DD	679067	6834465	467	408	-69	59
RXDD043	Link	DD	679126	6834409	465	394.5	-61	65
RXDD044	Link	DD	679099	6834381	465	408.2	-64	68

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 information in this report that relates to gold Mineral Resources for the Youanmi Project was reported to the ASX on 20 January 2022 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 20 January 2022, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 20 January 2022 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 the 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 2,994 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 667,000ozof 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.

Criteria	JORC Code explanation	Commentary
Samplingtechniques	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 examplesshould not be taken as limiting the broad meaning ofsampling.	RC hole diameter was 5.5" (140 mm) reverse circulationpercussion (RC). Sampling of RC holes was undertaken bycollecting 1m cone split samples at intervals.Diamond drill hole core size is NQ2 size diameter throughthe mineralisation. Sampling of diamond holes was by cuthalf core as described further below.Drill holes were generally angled at -650towards gridnortheast (but see Table for individual hole dips andazimuths) to intersect geology as close to perpendicular aspossible.
	Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement 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 bestpractice 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 conesplitter.Diamond core is dominantly NQ2 size, sampled ongeological intervals, with a minimum of 0.2 m up to amaximum of 1.2 m. HQ and NQ2 holes were cut in half, withone half sent to the lab and one half retained.
	Samples were sent to Intertek Genalysis in Perth, crushedto 10mm, dried and pulverised (total prep) in LM5 units(Some samples > 3kg were split) to produce a sub-sample.RC and diamond pulps were analysed by 50g Fire Assaywith ICP-OES (Intertek code FA50/OE).
Drillingtechniques	Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc) anddetails (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) anddiamond core (DD). The RC hole diameter was 140mm facesampling hammer. Hole depths reported range from 100mto 300m for RC and 300m to 400m for diamond.
Drill samplerecovery	Method of recording and assessing core and chipsample recoveries and results assessed	RC drill recoveries were high (>90%).
	Measures taken to maximise sample recovery andensure representative nature of the samples	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 haveoccurred due to preferential loss/gain of fine/coarsematerial.	There is no observable relationship between recovery andgrade, and therefore no sample bias.
Logging	Whether core and chip samples have been geologicallyand geotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, miningstudies and metallurgical studies.	Detailed geological logs have been carried out on all RC,but no geotechnical data have been recorded (or is possibleto be recorded due to the nature of the sample).Detailed geological and geotechnical logs were carried outon all diamond drill holes for recovery, RQD, structures etc.which included structure type, dip, dip direction, alphaangle, beta angle, texture, shape, roughness, fill material,and this data is stored in the database.The geological data would be suitable for inclusion in aMineral Resource estimate.

JORC Table 1 - Section 1 Data and Sampling Techniques

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation	Commentary
	Whether logging is qualitative or quantitative in nature.Core (or costean, channel, etc) photography.	Logging of diamond core and RC chips recorded lithology,mineralogy, mineralisation, weathering, colour, and othersample features. RC chips are stored in plastic RC chiptrays.
	The total length and percentage of the relevantintersections logged	All holes were logged in full.
Sub-samplingtechniques andsamplepreparation	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. Allsamples were collected from the same side of the core,preserving the orientation mark in the kept core half.
	If non-core, whether riffled, tube sampled, rotary split,etc and whether sampled wet or dry.	RC samples were collected on the drill rig using a conesplitter. If any mineralised samples were collected wet thesewere noted in the drill logs and database.
	For all sample types, the nature, quality andappropriateness of the sample preparation technique.	The sample preparation followed industry best practice.Fire Assay samples were dried, coarse crushing 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 sub-samplingstages to maximise representivity of samples.	Field QC procedures involve the use of Certified ReferenceMaterials (CRM's) as assay standards, along withduplicates and blank samples. The insertion rate of thesewas approximately 1:20.
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected, includingfor instance results for field duplicate/second-halfsampling.	For RC drilling field duplicates were taken on a routine basisat an approximate 1:20 ratio using the same samplingtechniques (i.e. cone splitter) and inserted into the samplerun. No diamond core field duplicates were taken.
	Whether sample sizes are appropriate to the grain sizeof the material being sampled.	The sample sizes are considered more than adequate toensure that there are no particle size effects relating to thegrain size of the mineralisation which lies in the percentagerange.
Quality of assaydata andlaboratory tests	The nature, quality and appropriateness of theassaying and laboratory procedures used and whetherthe technique is considered partial or total.	The analytical technique involved Fire Assay 50g.
	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 todetermine assay 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.lack of bias) and precision have been established.	Internal laboratory control procedures involve duplicateassaying of randomly selected assay pulps as well asinternal laboratory standards. All of these data are reportedto the Company and analysed for consistency and anydiscrepancies.
Verification ofsampling andassaying	The verification of significant intersections by eitherindependent or alternative company personnel.	Senior personnel from the Company have visually inspectedmineralisation within significant intersections.
	The use of twinned holes.	Two twin RC holes have been completed at the GraceProspect and confirm reliability of previous results.

Criteria	JORC Code explanation	Commentary
	Documentation of primary data, data entry procedures,data verification, data storage (physical and electronic)protocols.	Primary data was collected using a standard set of Exceltemplates on Toughbook laptop computers in the field.These data are transferred to Geobase Pty Ltd for dataverification and loading into the database.
	Discuss any adjustment to assay data.	No adjustments or calibrations have been made to anyassay 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.	Drill hole locations have been established using a field GPSunit.
	Specification of the grid system used.	The grid system is MGA_GDA94, zone 50 for easting,northing and RL.
	Quality and adequacy of topographic control.	The topography of the mined open pits is well defined byhistoric monthly survey pickups
Data spacing anddistribution	Data spacing for reporting of Exploration Results.	RC and diamond drill hole spacing varies 40-200 metresbetween drill sections, with some areas at 40 metre drillsection spacing. Down dip step-out distance varies 20-100metres.
	Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOreReserveestimationprocedure(s)andclassifications applied.	Data spacing and distribution are sufficient to establish thedegree of geological and grade continuity appropriate forJORC(2012) classifications applied.
		No sample compositing has occurred for diamond coredrilling. Sample intervals are based on geologicalboundaries with even one metre samples between.
	Whether sample compositing has been applied.	For RC samples, 1m samples through target zones weresent to the laboratory for analysis. The remainder of the holewas sampled using 4m composite samples. For 4mcomposite samples >0.2g/t Au, 1m samples were collectedand sent to the laboratory for analysis.
Orientation ofdata in relationto geologicalstructure	Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type.	The mineralisation strikes generally NNW-SSE and dips tothe west at approximately -50 degrees. The drill orientationwas 065 and 245 degrees and -60 to -90 dip. Drilling isbelieved to be generally perpendicular to 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. Afterpreparation in the field samples are packed into polyweavebags and despatched to the laboratory. For a large numberof samples these bags were transported by the Companydirectly to the assay laboratory. In some cases the samplewere delivered by a transport contractor the assaylaboratory. The assay laboratory audits the samples onarrival and reports any discrepancies back to the Company.No such discrepancies occurred.
Audits orreviews	The results of any audits or reviews of samplingtechniques and data.	No audits have yet been completed.

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation	Commentary
Mineral tenementand land tenurestatus	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 environmental settings.	Rox Resources Ltd is in a Joint Venture Agreement withVenus Metals Corporation Ltd under which it has a 70%interest in the Youanmi Gold Mine Joint Venture (OYG JointVenture).Tenements in the JV consist of the following mining leases:

JORC Table 1 - Section 2 Reporting of Exploration Results

	royalties,nativetitleinterests,historicalsites,wilderness or national park and environmental settings.	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 reportingalong with any known impediments to obtaining alicence to operate in the area.	The tenement is in good standing and no known impedimentsexist.
Exploration doneby other parties	Acknowledgment and appraisal of exploration by otherparties.	Significant previous exploration has been carried outthroughout the project by various companies, includingAC/RAB, RC drilling and diamond drilling1971-1973 WMC: RAB, RC and surface diamond drilling1976Newmont:10surfacediamonddrillholes(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 surfacediamond drilling. Underground mining and associatedunderground diamond drilling.2000-2003 Aquila Resources Ltd: Shallow RAB and RCdrilling2004-2005 Goldcrest Resources Ltd: Shallow RAB and RCdrilling; data validation.2007- 2013 Apex Minerals NL: 9 diamond holes targetingextensions to the Youanmi deeps resource.

Criteria	JORC Code explanation	Commentary
Geology	Deposittype,geologicalsettingandstyleofmineralisation.	The Youanmi Project straddles a 40km strike length of theYouanmi Greenstone Belt, lying within the Southern CrossProvince of the Archaean Yilgarn Craton in WesternAustralia. The greenstone belt is approximately 80km longand 25km wide, and incorporates an arcuate, north-trendingmajor crustal structure termed the Youanmi Fault Zone. Thisstructure separates two discordant greenstone terrains, withthe stratigraphy to the west characterised by a series ofweakly deformed, layered mafic complexes (Windimurra,Black Range, Youanmi and Barrambie) enveloped bystrongly deformed, north-northeast trending greenstones.Gold mineralisation is developed semi-continuously in shearzones over a strike length of 2,300m along the westernmargin of the Youanmi granite.The Youanmi gold lodes are invariably associated with a highpyrite and arsenopyrite content.There are a series of major fault systems cutting through theYouanmi trend mineralisation that have generated somesignificant off-sets.The Youanmi Deeps project area is subdivided into threemain areas or fault blocks by cross-cutting steep south-easttrending faults; and these are named Pollard, Main, and HillEnd from south to north respectively.Granite hosted gold mineralisation occurs at several sites,most notably Grace and the Plant Zone Prospects. Goldmineralization occurs as free particles within quartz-sericitealtered granite shear zones.The Commonwealth-Connemarra mineralised trend iscentred 4km northwest of the Youanmi plant. The geologycomprises a sequence of folded mafic and felsic volcanicrocks intercalated with BIF and intruded by granite along theeastern margin. Gold mineralisation is developed over a600m strike length, associated with a north trending andsteeply west dipping shear zone that traverses the northwesttrending succession.
Drill holeInformation	A summaryofallinformationmaterial to theunderstanding of the exploration results including atabulation of the following information for all Material drillholes:•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. Notop cuts have been applied. A lower cut-off of 0.5g/t Au wasapplied for RC and diamond core.
	Where aggregate intercepts incorporate short lengths ofhigh-grade results and longer lengths of low-graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations should be shown in detail.	Mineralisation over 0.5g/t Au has been included inaggregation of intervals for RC and diamond core.
	The assumptions used for any reporting of metalequivalent values should be clearly stated.	No metal equivalent values have been used or reported.

JORC Table 1 - Section 2 Reporting of Exploration Results

JORC Table 1 -		Section 2 Reporting of Exploration Results
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Criteria	JORC Code explanation	Commentary
Relationshipbetweenmineralisationwidths andintercept lengths	These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The mineralisation strikes generally NNW-SSE and dips tothe west at approximately -50 degrees. The drill orientationwas 065 and 245 degrees and -60 to -90 dip. Drilling isbelieved to be generally perpendicular to strike. Given theangle of the drill holes and the interpreted dip of the hostrocks and mineralisation (see Figures in the text), reportedintercepts approximate 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.
Balancedreporting	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.	Representative reporting of both low and high grades andwidths is practiced.
Othersubstantiveexploration 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.	All meaningful and material information has been included inthe body of the announcement.
Further work	The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scalestep-out drilling).Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretationsand future drilling areas, provided this information is notcommercially sensitive	Further work (RC and diamond drilling) is justified to locateextensions to mineralisation both at depth and along strike.