ROX RESOURCES LIMITED

RRL1871D

ASX Announcement 16 May 2023

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ASX: RXL

Rox Resources Limited (ASX: RXL) is exploring and developing advanced gold assets in Western Australia: the Youanmi Gold Project and the Mt Fisher Gold project.

DIRECTORS

Mr Stephen Dennis Chairman

Mr Robert Ryan Managing Director

Dr John Mair Non-Executive Director

Shares on Issue 224.4m Share Price $0.40 Market Cap. $89.8m Cash $8.3m (as at 31 Mar 23)

New high-grade drill results confirm Paddy’s Lode discovery at Youanmi

- High grade mineralisation now intersected up to 200m south of previous bonanza intercept of 28m @ 34.81g/t

Diamond drilling to follow up on the bonanza 28m @ 34.81g/t drill intercept has confirmed the discovery of a significant new mineralised lode at Youanmi.
Initial results for the first follow-up diamond holes include:
RXDD080: 5.70m @ 8.26g/t Au from 233.30m
RXDD095: 5.08m @ 9.56g/t Au from 225.80m
RXDD098: 3.32m @ 8.29g/t Au from 200.05m
The newly-discovered Paddy’s Lode (initially termed Youanmi South) has a similar strike and dip extent to the Youanmi Main Lodes, with similar mineralised widths.
The Rox exploration team believes that this new lode is the southern offset of the Youanmi Main Lode, offset by a post-mineral fault
Additional follow-up diamond holes have also intersected the new lode structure, revealing a well-developed shear structure of similar widths to the Youanmi Main Lode. Assays are pending for these potential mineralised intersections.

Level 2, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

[email protected]

www.roxresources.com.au

Follow Rox:

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Rox Resources Limited (“Rox” or “the Company”) ( ASX: RXL ) , in conjunction with its joint venture partner Venus Metals Corporation (ASX: VMC), is pleased to confirm the discovery of a new high-grade mineralised position immediately south of the Youanmi Main Lode at its 3.2Moz Youanmi Gold Project (OYG JV), located near Mt Magnet in WA.

The new mineralised lode, referred to previously as the ‘Youanmi South’ prospect, has now been intersected over a considerable strike and dip extent, confirming its significance as an important new discovery within the Youanmi gold field (Figure 2).

In light of this, the mineralised structure has been named the Paddy’s Lode after the former Director of Operations at Youanmi Gold Mines Ltd, Patrick (Paddy) Fitzgerald. Mr Fitzgerald led Youanmi Gold Mines through one of is most prosperous periods with the company producing more than 100,000oz of gold from shafts located just to the North of Paddy’s Lode between 1937 and 1942.

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Current drilling has intersected the mineralised shear structure at Paddy’s Lode up to approximately 200m south of the bonanza discovery intercept of 28m @ 34.81g/t from RXRC458 reported earlier this year.

This high-grade, mineralised structure located immediately south of the Youanmi Main Pit represents an extremely exciting opportunity for the Youanmi Gold Project (OYG JV).

The geological interpretation of this mineralised structure is developing, and Rox is prioritising its understanding with an initial phase of diamond drilling. The potential is clearly significant with the mineralised structure remaining open along strike and largely untested up-dip and at depth.

The exceptional drilling results received to date will be followed up immediately with approximately 3,000m of Reverse Circulation (RC) drilling to further develop this new high-grade structure along strike and to test the updip and down-dip extents.

Managing Director Comments

Rox Resources Managing Director, Mr Robert Ryan, said the new batch of high-grade assay results, coupled with visual observations of additional drill intercepts for which assays are pending, has confirmed Paddy’s Lode as a significant new discovery within the historic Youanmi gold field.

“Diamond drilling has provided important structural information that has helped to define a significant new mineralised position which we believe has enormous potential.

“Put simply, Paddy’s Lode is emerging as a likely game-changing discovery which has now been defined over a strike length of 200m and has the potential to extend significantly further to the south.

“Early indications are that the structure is an offset of the Youanmi Main Lode to the south and, given historical underground gold production of 411koz from the Youanmi Main lode, Paddy’s Lode presents a new, unmined mineralised system with huge growth potential.

“RC drilling will commence in the coming weeks as we look to build upon the known extents of the Paddy’s mineralised system and to test for near-surface mineralisation.”

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Figure 1: Drilling in progress at the Youanmi Gold Project.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Paddy’s Lode Drilling Results

Diamond drilling designed to follow up the Paddy’s Lode discovery hole (RXRC458, 28m @ 34.81g/t Au) initially targeted the up-dip and down-dip positions of this intercept.

The down-dip drill hole (RXDD080) showed a well-developed shear zone with similar widths and strike-trend to the Youanmi Main lode.

RXDD080: 5.70m @ 8.26g/t Au from 233.30m

The up-dip drill hole (RXDD097) also showed mineralised shearing with a similar strike-trend to the Youanmi Main Lode. As the drill hole was located proximal to the approximately 200m offsetting sinistral fault, the hole is believed to have passed through the disrupted drag fault zone proximal to the offsetting fault.

This resulted in two thinner mineralised shear zones:

RXDD097: 0.48m @ 4.60g/t Au from 225.26m; and

0.34m @ 4.44g/t Au from 237.33

The next two follow-up diamond drill holes tested targets to the south of the discovery hole following the striketrend of the structural measurements taken from the initial two diamond drill holes.

These two drill holes (RXDD095 & RXDD098) showed a well-developed shear zone with a similar strike-trend to the Youanmi Main Lode:

RXDD095: 5.08m @ 9.56g/t Au from 225.80m
RXDD098: 3.32m @ 8.29g/t Au from 200.05m

These three drill holes have only had the assays received for the immediate main shear zone to date. Assays are still pending for the remainder of the drill-hole. A number of thinner, sulphide-rich shear zones were geologically logged and there remains the potential to define additional parallel striking hanging and footwall wall lodes to the main shear zone.

Four additional diamond holes have been drilled through the target structure. All holes have intersected the well-developed shear zone with assays pending. The last of the diamond holes (RXDD102) is being extended to test for potential additional lodes to the east of the newly discovered “Paddy” Lode (see Figures 3, 4 and 5).

RXDD099: Shear zone intercepted. Assays pending.
RXDD100: Shear zone intercepted. Assays pending.
RXDD101: Shear zone intercepted. Assays pending.
RXDD102: Shear zone intercepted. Assays pending.

The mineralised shear zones intersected all show a well-developed shear zone with clear contacts to a package of mafic rock, generally basalt. The level of shearing varies from moderate to intense, with pyrite and arsenopyrite sulphides present varying generally from one to two percent, but up to five percent in zones.

It is observed in the drill hole closest to the sinistral offsetting fault (RXDD097) that there is a potential drag fault disrupted zone due to the approximate 200m offset displacement. Drill-holes intersecting the mineralised structure to the south of the offsetting fault show a well-developed clear cohesive shear zone with sharp contact boundaries up against a relatively unsheared surrounding mafic rock package.

From the drilling and results to date, this newly discovered mineralised lode is most likely to represent the southern offset of the Youanmi Main Lode. The gold intercepts show similar mineralised widths to the Youanmi Main Lode, but more exciting is the fact that the gold grades returned to date are generally of a higher tenor compared to the Youanmi Main Lode.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Next Steps

Now that the strike and dip of the newly-discovered Paddy’s Lode has been established, the structure will be further developed with a series of RC drill holes to test the up-dip extension through the transition and oxide zones. One of the main objectives of this RC drilling is to test for a potential supergene mineralised zone in the oxide zone. The understanding of E-W faults in offsetting strongly mineralised zones, will be important in future exploration targeting.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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----- Start of picture text -----

Youanmi Main Lode
Paddy’s Lode
----- End of picture text -----

Figure 2: Plan view of the Youanmi Gold Project showing the location of the newly discovered Paddy’s Lode.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Figure 3: Cross-section of RXRC458 and RXDD080 looking north.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Figure 4: Cross-section of RXDD095 and RXDD099 looking north.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Figure 5: Long Section of the Paddy’s Lode looking East.

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

* ENDS ***

For more information:

Rob Ryan Managing Director Rox Resources Limited

Matthew Hogan Managing Director Venus Metals Corporation Limited

Nicholas Read Investor Relations Read Corporate

Tel: +61 8 9226 0044 Tel: +61 8 9321 7541 Tel: 0419 929 046 E: [email protected] E: [email protected] E: [email protected]

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Table 1 – Collar Locations and Drilling Details

Hole Id	Prospect	Drill Type	East	North	RL	Depth	Dip	Azi	Comments
RXDD080	Paddy	RC Pre-Collar	680296	6833140	457	132	-60	65
		Diamond Tail				298
RXDD095	Paddy	RC Pre-Collar	680302	6833100	457	90	-60	65
		Diamond Tail				253
RXDD097	Paddy	DD	680287	6833251	457	275.8	-50	120
RXDD098	Paddy	DD	680310	6833106	457	308.8	-50	80
RXDD099	Paddy	DD	680306	6833104	456	282.9	-50	63
RXDD100	Paddy	DD	680334	6833073	456	223.5	-60	90
RXDD101	Paddy	DD	680334	6832973	456	211	-60	90
RXDD102	Paddy	DD	680294	6833073	456	TBA	-60	90	Drilling in Progress

*Grid MGA94_Zone50S with RL in Australian Height Datum.

RC = Reverse Circulation, DD = Diamond & RCD = RC pre-collar with diamond tail.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Table 2 – Significant Intersections

Hole ID	Prospect	Drill Type	From	To	Interval	Aug/t	Aug.m.
RXDD080**	Paddy	RC	8	12	4	0.69	2.76
RXDD080	Paddy	DD	138.45	138.90	0.45	35.14	15.81
RXDD080	Paddy	DD	150.00	158.00	8.00	1.28	10.24
Including			152.00	153.00	1.00	4.96	4.96
RXDD080	Paddy	DD	166.00	166.60	0.60	4.57	2.74
RXDD080	Paddy	DD	233.30	239.00	5.70	8.26	47.08
RXDD080	Paddy	DD	253.67	254.57	0.90	18.84	16.96
RXDD095	Paddy	DD	0.00	219.00	PendingAssays
RXDD095	Paddy	DD	225.80	230.88	5.08	9.56	48.56
RXDD095	Paddy	DD	232.00	253.00	PendingAssays
RXDD097	Paddy	DD	0.00	224.04	PendingAssays
RXDD097	Paddy	DD	225.26	225.74	0.48	4.60	2.21
RXDD097	Paddy	DD	237.33	237.67	0.34	4.44	1.51
RXDD097	Paddy	DD	241.19	275.80	PendingAssays
RXDD098	Paddy	DD	0.00	193.00	PendingAssays
RXDD098	Paddy	DD	195.56	196.51	0.95	0.53	0.50
RXDD098	Paddy	DD	200.05	203.37	3.32	8.29	27.52
RXDD098	Paddy	DD	204.19	308.80	PendingAssays
RXDD099	Paddy	DD	0.00	282.90	PendingAssays
RXDD100	Paddy	DD	0.00	223.50	PendingAssays
RXDD101	Paddy	DD	0.00	211.00	PendingAssays
RXDD102	Paddy	DD	0.00	TBA	PendingAssays

Minimum significant intercept is 1m @ 0.5g/t Au. NSI = No significant Intercept

Indicates a RC pre-collar result, with a diamond tail to follow intersecting the target lode.

** Indicates preliminary 4 meter composite samples. Final 1 meter samples to follow.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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Competent Person Statement

Exploration Results

The information in this report that relates to Data and Exploration Results is based on information compiled and reviewed by Mr Travis Craig a Competent Person who is a Member of the Australasian Institute of Geologists (AIG) and Exploration Manager at Rox Resources. Mr Craig 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 Craig 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 – Mt Eureka Project was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 2 November 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.

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 currently 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.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL [email protected] www.roxresources.com.au

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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. Diamond drill hole core size is NQ2 size diameter through the mineralisation. Sampling of diamond holes was by cut half core as described further below. Drill holes were generally angled at -600towards grid northeast (but see Table for individual hole dips and azimuths) to intersect geology as close to perpendicular as possible.
	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. A nominal 3-4kg sample is taken and analysed for gold by Fire Assay 50g (FA50). Diamond core is dominantly NQ2 size, sampled on geological intervals, with a minimum of 0.3 m up to a maximum of 1.2 m. The diamond core was cut in half, with one half sent to the lab and one half retained. The sample was analysed for gold by Fire Assay 50g (FA50).
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) and diamond core (DD). The RC hole diameter was 140mm face sampling hammer.
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.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

[email protected] www.roxresources.com.au

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation	Commentary
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). Detailed geological and geotechnical logs were carried out on all diamond drill holes for recovery, RQD, structures etc. which included structure type, dip, dip direction, alpha angle, beta angle, texture, shape, roughness, fill material, and this data is stored in the database. 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 diamond core and 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.
*Sub-sampling* *techniques and* *sample* *preparation*	If core, whether cut or sawn and whether quarter, half or all core taken.	Drill core was cut in half on site using a core saw. All samples 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 cone splitter. If any mineralised samples were collected wet these were noted in the drill logs and database.
	For all sample types, the nature, quality and appropriateness 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 or equivalent pulverising mill to a grind size of 85% passing 75 micron.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Field QC procedures involve the use of Certified Reference Materials (CRM’s) as assay standards, along with duplicates and blank samples. The insertion rate of the CRM’s was approximately 1:20, and blank sample insertion rate was approximately 1:50.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	For RC drilling field duplicates were taken on a routine basis at an approximate 1:20 ratio using the same sampling techniques (i.e. cone splitter) and inserted into the sample run. No diamond core field duplicates were taken.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	The analytical technique involved Fire Assay 50g.

[email protected] www.roxresources.com.au

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical or portable analysis tools were used to determine assay values stored in the database.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Senior personnel from the Company have visually inspected mineralisation within significant intersections.
	The use of twinned holes. No twinned holes to date.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary data was collected using a standard set of Excel templates on Toughbook laptop computers in the field. These data are transferred to Geobase Pty Ltd for data verification and loading into the database.
	Discuss any adjustment to assay data. No adjustments or calibrations have been made to any assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Drill hole locations have been established using a differential GPS with an accuracy of +/- 0.3m.
	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 by historic monthly survey pickups
Data spacing and distribution	Data spacing for reporting of Exploration Results. RC and diamond drill hole spacing varies 40-200 metres between drill sections, with some areas at 40 metre drill section spacing. Down dip step-out distance varies 20-100 metres.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Data spacing and distribution are sufficient to establish the degree of geological and grade continuity appropriate for JORC (2012) classifications applied.
	Whether sample compositing has been applied. No sample compositing has occurred for diamond core drilling. Sample intervals are based on geological boundaries with even one metre samples between. For RC samples, 1m samples through target zones were sent to the laboratory for analysis. The remainder of the hole was sampled using 4m composite samples. For 4m composite samples >0.2g/t Au, 1m samples were collected and sent to the laboratory for analysis.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

[email protected] www.roxresources.com.au

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation	Commentary
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	The dip and strike of the mineralisation is generally understood, but it is yet to be fully determined.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security.	Sample security is managed by the Company. After preparation in the field samples are packed into polyweave bags and despatched to the laboratory. For a large number of samples these bags were transported by the Company directly to the assay laboratory. In some cases the sample were delivered by a transport contractor the assay laboratory. The assay laboratory audits the samples on arrival and reports any discrepancies back to the Company. No such discrepancies occurred.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits have yet been completed.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

[email protected] www.roxresources.com.au

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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.

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

[email protected] www.roxresources.com.au

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JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	JORC Code explanation	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
	Deposit type, mineralisation.	geological	setting	and	style	of	and in solid solution in arsenopyrite. The lodes contain between 10% and 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.

ROX RESOURCES LIMITED 17 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

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ASX CODE: RXL

[email protected] www.roxresources.com.au

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JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Drill hole Information	A summary of all information material to the 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 above sea level in metres) of the drill hole collar • 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 aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	All reported assay intervals have been length weighted. No top cuts have been applied. A lower cut- off of 0.5g/t Au was applied for RC and diamond core.
	Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Mineralisation over 0.5g/t Au has been included in aggregation of intervals for RC and diamond core.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values have been used or reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The mineralisation strikes generally WNW and dips to the west at approximately -60 degrees. Drill orientations are usually 060 degrees and -60 dip. Drilling is believed to be generally perpendicular to strike. Given the angle of the drill holes and the interpreted dip of the host rocks and mineralisation (see Figures in the text), reported intercepts approximate true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to Figures and Table in the text.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Representative reporting of both low and high grades and widths is practiced.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All meaningful and material information has been included in the body of the announcement.

ASX CODE: RXL [email protected] www.roxresources.com.au

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

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JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary

Further work	The nature and scale of planned further work (e.g. tests
	for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations	Further work (RC and diamond drilling) is justified to locate extensions to mineralisation both at depth and along strike.
	and future drilling areas, provided this information is not
	commercially sensitive

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ROX RESOURCES LIMITED Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

[email protected] www.roxresources.com.au

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ROX RESOURCES LIMITED Capital/Financing Update 2023

65741_rns_2023-05-15_475e269b-4628-4403-ab84-f1130790a916.pdf