ROX RESOURCES LIMITED — Capital/Financing Update 2025

May 20, 2025

ASX: RXL ASX Announcement 21 May 2025

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High gold recovery to concentrate confirmed by metallurgical test work

Results from metallurgical test work has revealed high recovery of more than 91% gold to concentrate from samples taken at the Youanmi Gold Project.

Highlights:

• High recovery of 91.6% gold and 98.3% sulphur to concentrate confirmed during metallurgical test work on samples from Youanmi;

• Additional gold recovered (36%-62%) from cyanide leaching of the flotation tailings;

• Test work via Albion Process™ underway to improve overall gold recovery; and

• Results to inform the Definitive Feasibility Study, expected to be released in November 2025.

Gold explorer and developer Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL) has received positive initial results from metallurgical test work conducted on samples from the Youanmi Gold Project, located in the Mid West region of Western Australia.

Results from bulk flotation tests determined high gold recoveries of 91.6% can be achieved, with a corresponding concentrate grade of 49.9g/t gold. Additional flotation test work will be conducted to further refine the process for the Definitive Feasibility Study.

As part of the metallurgical test work program, the Company is also undertaking test work using the Albion Process™, which is an atmospheric oxidative leaching process used to treat semi-refractory gold ores.

The Albion Process[TM] test work aims to improve gold recovery through a two-stage process, which is also designed to reduce reagent and power consumption requirements, lowering overall operating and capital costs.

The results from the metallurgical test work program will be incorporated into the Company’s Definitive Feasibility Study (DFS), ahead of its anticipated release in November 2025.

Rox Resources Managing Director & Chief Executive Officer Phill Wilding commented:

“The results received so far from the metallurgical test work program reinforce what we already knew about the highly prospective nature of our Youanmi Gold Project.

“It was exciting to see the high gold recoveries returned were better than the PFS estimates, and as we embark on further test work using the Albion Process™, there is opportunity for gold recovery to improve even further.

“Works are progressing quickly on the delivery of the Definitive Feasibility Study for our Youanmi Project, with this metallurgical test work being an important component.

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“We look forward to providing the next phase of test work results, as well as finalising details of our Mineral Resource Estimate, as we work towards the DFS’ expected release in November.”

Metallurgical Test Work Program:

The Definitive Feasibility Study (DFS) metallurgical test work program commenced in January 2025 with a focus on generating design parameters for the DFS process flowsheet and improving the metallurgical understanding of various lithologies at Youanmi. Test work undertaken to date includes comminution, bulk flotation, flotation tailings leach and preliminary Albion Process[TM] characterisation tests.

The Albion Process[TM] program is due for completion prior to anticipated release of DFS in November 2025. The DFS engineering will run in parallel to the test work with results incorporated as they are received.

Sample Provenance and Selection:

The Pre-Feasibility Study[1] (PFS) Production Target consisted of four main host lithologies for the Youanmi orebodies:

• High iron (Fe) tholeiite (basalt);

• High magnesium (Mg) tholeiite (basalt);

• Banded Iron Formation (BIF); and

• Granite.

These lithologies represent greater than 95% of the plant feed identified in the Pre-Feasibility Study (PFS) at a gold grade which is representative of the planned plant feed. The sample selection for the DFS has focussed on generating two bulk composites for the two main lithologies (high Fe basalt, high Mg basalt) to generate a bulk concentrate for downstream Albion Process[TM] test work.

The lithology variability samples were selected to advance the priority DFS metallurgical test work and gain an understanding of the metallurgical response to the different lithologies. Additional variability sampling and test work is planned to provide greater spatial representation and improve the metallurgical dataset prior to detailed design.

A summary of the lithology descriptions and composite sample selection is in Table 1 and Table 2.

1 Refer to RXL ASX announcement dated 24th July 2024 “Youanmi Gold Project – Positive Pre-Feasibility Study”.

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Table 1 – Metallurgical Lithology Composite Summary

Composite ID	Lithology	Composite Type	Description
FeT	High Fe Basalt	Bulk	FeT lithology which makes up approx 25% of the plant feed for first four years
MgT	High Mg Basalt	Bulk	MgT lithology which makes up approx 60% of the plant feed for first four years
V_FeT	High Fe Basalt	Variability	FeT lithology – separate composite for variability and comminution
V_MgT	High Mg Basalt	Variability	MgT lithology – separate composite for variability and comminution
V_BIF	Banded Iron Formation	Variability	BIF hosted mineralisation – makes up <5% of plan feed
V_Gr	Granite	Variability	Granite hosted mineralisation – makes up <10% of plan feed
V_As	High Arsenic	Variability	High arsenic variability sample
V_S	High Sulphur	Variability	High sulphur variability sample

Table 2 – Metallurgical Composite Sample Selection Summary[2]

Composite ID	Hole ID	Depth From (m)	Dept To (m)	Interval Length (m)	Mass (kg)	Original Assay Value (g/t Au)
MgT	RXDD109	238.23	241.92	3.69	23.9	4.20
	RXDD109	287.95	293.41	5.46	35.4	10.56
	RXDD110	291.05	294.35	3.30	21.4	0.24
	RXDD113	279.80	284.00	4.20	27.2	2.05
	RXDD113	308.07	314.00	5.93	38.5	0.55
	RXDD115	239.50	242.86	3.36	21.8	0.75
	RXDD115	260.84	264.00	3.16	20.5	2.31
	RXDD115	249.52	252.83	3.31	21.4	18.20
	RXDD116	314.00	319.00	5.00	32.4	0.52
	RXDD119	221.17	225.55	4.38	28.5	15.08
	RXDD122	298.57	301.21	2.64	17.1	1.28
	RXDD122	309.83	312.71	2.88	17.0	2.48
	RXDD124	258.03	262.00	3.97	25.7	0.70
	RXDD124	275.78	279.84	4.06	26.3	1.18
	RXDD124	291.73	295.80	4.07	26.4	3.99
	RXDD124	308.79	312.85	4.06	26.3	0.96
Sub Total MgT Bulk Composite				63.5	409.9	4.15
FeT	RXDD126	446.46	450.00	3.54	23.0	1.05
	RXDD127	303.30	306.00	2.70	17.5	0.77
	RXDD127	408.53	412.82	4.29	26.2	3.32
	RXDD128	366.32	371.12	4.80	29.4	1.27
	RXDD128	377.00	382.40	5.40	35.0	0.35
	RXDD129	359.42	362.32	2.90	18.8	2.70

2 Refer to ASX announcements titled and dated “Rox intersects more high-grade gold from Youanmi” 22 October 2024, “Additional high-grade gold assays from Youanmi” 04 November 2024, “High grade assay results continue at Youanmi” 12 December 2024, “Youanmi High-Grade Gold Drilling and Works Program Update” 17 February 2025

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Composite ID	Hole ID	Depth From (m)	Dept To (m)	Interval Length (m)	Mass (kg)	Original Assay Value (g/t Au)
	RXDD131	387.68	392.96	5.28	34.2	15.84
	RXDD131	409.60	412.19	2.59	17.7	1.52
Sub Total FeT Bulk Composite				28.0	178.8	3.93
V_FeT	RXDD128	364.19	366.32	2.13	13.8	6.74
	RXDD133	431.24	434.03	2.79	18.1	6.59
V_BIF	RXDD119	162.07	167.00	4.93	31.2	6.15
V_Gr	RXDD132	263.31	268.00	4.69	30.4	5.65
V_MgT	RXDD153	304.54	310.47	5.93	14.4	3.14
	RXDD122	202.90	206.00	3.10	20.1	4.10
V_As	RXDD109	293.41	298.36	4.95	32.1	65.63
V_S	RXDD129	331.63	336.27	4.64	30.1	25.40

The locations of the metallurgical composites used in the test work and Pre-Feasibility Study (PFS) stope shapes are shown in Figure 1.

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Figure 1 – Collar locations and drilling details

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Head Assays and Mineralogy:

The head assays for the two bulk composites and six lithology variability composites are in Table 3, and indicate the following:

• There are no other economic or deleterious elements;

• The arsenic grades vary indicating a varying pyrite/arsenopyrite ratio;

• There is low variance between duplicate gold assays indicating low coarse gold content;

• Low organic carbon results indicate low to zero risk of preg-robbing;

• The low antimony grades indicate minimal impact of antinomy passivation on gold leaching; and

• There is minimal variation between reduced sulphide (S[2-] ) and total sulphide content, indicating the samples comprise fresh sulphide ore.

Table 3 – Composite Head Assays

Analyte	Unit	FeT	MgT	V_FeT	V_MgT	V_BIF	V_Gr	V_S	V_As
Au-1	g/t	4.64	4.88	7.41	4.17	7.33	10.1	24.2	67.2
Au-2	g/t	4.84	5.19	7.49	4.16	7.54	11.7	23.9	62.8
Au (average)	g/t	4.74	5.04	7.45	4.17	7.44	10.9	24.1	65.0
Ag	ppm	2	<2	10	<2	<2	<2	8	4
As	ppm	4,200	2,000	2,500	4,290	1,470	110	9,000	25,200
Sb	ppm	77.4	539	115	220	9.6	18.8	153	87.7
Cu	ppm	72	144	130	82	100	50	146	126
S-sulphide	%	3.74	3.28	6.82	4.44	14.0	0.88	19.6	8.28
S-total	%	3.86	3.32	6.84	4.50	14.2	0.90	20.7	8.36
C-organic	%	<0.03	<0.03	<0.03	<0.03	<0.03	<0.03	<0.03	0.03
C-total	%	0.63	1.29	0.51	1.02	0.96	0.27	<0.03	0.24
Te	ppm	1.4	0.8	8.6	1.4	<0.2	13.2	16.6	3.2
Hg	ppm	<0.1	<0.1	0.1	<0.1	<0.1	0.1	0.2	0.2

Mineralogy test work undertaken on concentrate samples from the PFS indicate the semi-refractory nature of the gold at Youanmi. Much of the gold (75-80%) is either free-milling or semi-refractory and is primarily associated with pyrite. Some gold is super-fine grained (<10 μm) and is primarily associated with pyrite but is also contained in silicates. Up to 25% of the gold is locked in solid solution in arsenopyrite, which cannot be recovered by conventional cyanide leaching or ultrafine grinding.

Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS) has confirmed that the gold in solid solution in pyrite ranges from 0.75 to 3.3 ppm while the gold in solid solution in arsenopyrite ranges from 242 to 447 ppm.

The mineralogy test work confirms the requirement for an oxidation process (such as the Albion Process[TM] ) with a focus on oxidising the arsenopyrite in the flotation concentrate to maximise gold recovery from the refractory component of the ore.

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Petrographic analysis conducted shows the various types of Youanmi mineralisation. Examples of freemilling, semi-refractory and refractory gold are shown in Figure 2 and summarised as:

• Refractory ore (image 1) – very fine-grained gold particles enclosed within pyrite grains;

• Semi-refractory ore (images 2 & 3) – gold within pyrite grains that lie in and/or along fractures and cavities; and

• Free-milling ore (images 4, 5 & 6) – gold in open cavities, attached to external margins of sulphide grains or occur within silicate matrix.

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Figure 2 – Petrographic analysis

Comminution:

A series of standard comminution tests have been completed on the main lithological composites with the results outlined in Table 4. Results, compared to the JKTech database include:

• The Bond Rod Work Index (RWi) and Bond Ball Work Index (BWi) indicate the ore is hard which aligns with previous results;

• The Abrasion Index (Ai) test indicates the ore is slightly abrasive, indicating modest wear of comminution equipment; and

• The SMC results (A x b and DWi) indicate the ore is moderately competent and sit in the 38[th] – 71[st] percentile of the JKTech Database.

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Table 4 – Comminution Test Work Results

Parameter	Unit	V_FeT	V_MgT	V_BIF	V_Gr
SG	g/cm³	2.83	2.79	3.28	2.64
CWi	kWh/t	9.54	11.5	8.97	8.61
RWi	kWh/t	17.6	19.7	16.8	17.1
BWi	kWh/t	16.0	15.4	13.7	17.2
Ai	-	0.2167	0.0665	0.3869	0.3176
A x b	-	52.7	48.1	44.5	38.8
ta	-	0.45	0.42	0.31	0.37
DWi	kWh/m3	5.77	6.09	8.32	7.01

Flotation:

Bulk flotation tests on the MgT and FeT master composites have been completed with results summarised in Table 5.

The combined MgT and FeT concentrates achieved average gold and sulphur (S[2-] ) recoveries of 91.6% and 98.6% respectively with corresponding combined concentrate grades of 49.9 g/t gold and 27.3% sulphur.

The results indicate that high gold and sulphur recoveries can be achieved from a mass pull of ~9% using a rougher-only flotation flowsheet. This means that only ~ 9% of the front-end ore feed is treated via Albion Process[TM] some 10x smaller than the front-end comminution and flotation circuits.

Additional flotation variability test work will be conducted to define final design mass pull and concentrate specification and refine the flotation flowsheet for the DFS.

Table 5 – Flotation Test Work Results

Ci	T ID	Mass	Mass Rec. (%)	Mass Rec. (%)	Gold	Gold	Sulphur	Sulphur
omposte	est	(g)	G	Dist (%)	g/t	Dist (%)	%	Dist (%)
MgT	3493	51,000	4,526	8.9	50.8	91.3	30.8	98.0
MgT	3494	51,000	4,597	9.0	49.7	91.8	30.8	97.8
MgT	3495-99	255,000	23,465	9.2	49.8	91.0	23.0	98.3
Sub Total MgT		357,000	32,588	9.1	49.9	91.1	25.2	98.2
FeT	3500	51,000	4,306	8.4	51.0	91.3	38.8	97.8
FeT	3501	51,000	4,593	9.0	50.5	92.4	34.0	98.0
FeT	3502-03	68,000	6,717	9.9	48.9	93.9	24.9	99.6
Sub Total FeT		170,000	15,616	9.2	50.0	92.7	31.8	98.6
Total		527,000	48,204	9.1	49.9	91.6	27.3	98.3

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Flotation Tailings Leaching:

Cyanide leach test work was undertaken on the rougher flotation tailings from the two bulk composites with the results summarised in Table 6.

Results indicate that low final tailings gold grades can be achieved for the flotation tailings (90.9% of the flotation feed) represented by the FeT and MgT bulk composites with assayed head grades of 4.74 g/t and 5.04 g/t respectively.

The cyanide and lime consumption for the flotation tailings leach is considered low.

Table 6 – Flotation Tailings Leach Test Work Results

Composite					NaCN	Lime Consumption (kg/t)
	Grind Size **P **	Calc. Head Gd /	Tailings Grade /	24hr Leach Ei %	Consumption
	**(80) **	rae (gt)	(gt)	xtracton ()	(kg/t)
FeT Rougher Tailings	75 μm	0.35	0.22	35.8	0.24	0.32
MgT Rougher Tailings	75 μm	0.45	0.17	62.6	0.24	0.34

Albion Process[TM] Test Work:

The Albion Process[TM] is an atmospheric oxidative leaching process for treating semi-refractory gold ores to improve overall gold recovery. The process comprises two main stages:

• The initial stage is ultrafine grinding of the flotation concentrate using an IsaMill™ to a grind size P80 of 8-20 µm. This provides a narrow size distribution and prevents passivation of the mineral surfaces in the subsequent oxidative leaching step; and

• The ultrafine ground concentrate undergoes oxidative leaching in the OxiLeach™ Reactor at atmospheric pressure, a pH of 4-5, an elevated temperature of 95°C and a residence time of up to 72 hours. The OxiLeach™ reactors are designed specifically for leaching and maximum oxygen mass transfer. The oxidised product from the oxidative leach is neutralised and transferred to the cyanide leach circuit for traditional gold cyanide recovery.

Ultrafine grinding is a common process used to increase the recovery of many base and precious metals. IsaMills[TM ] have been used for ultrafine grinding of ores since 1994, so are a well known and proven technology. KCGM have successfully employed IsaMills[TM] for over 20 years to improve gold recovery.

The Albion Process[TM] is best suited to semi-refractory gold concentrates that do not require greater than 90% sulphur oxidation to achieve acceptable gold recoveries.

Importantly, the Albion Process[TM] provides greater control over the extent of oxidation that reduces reagent and power consumption, lowering the overall operating and capital costs.

Albion Process[TM] test work is currently being undertaken at Core Resources in Brisbane. Head characterisation is complete, the signature plot of ultrafine grinding is underway, and the initial Albion Process[TM] leach test has commenced.

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Remaining Albion Process[TM] test work to be completed as part of the DFS program includes:

• Grind size sensitivity;

• Sulphur oxidation targets;

• Solids density sensitivity;

• Bulk Albion Process[TM] leach test to generate sample for flocculation, settling and viscosity testing;

• Variability Albion Process[TM ] leach tests; and

• Metal recovery optimisation.

Indicated Pathway to Production:

The Company’s Indicative Pathway to Production, as outlined in Figure 3, remains on track:

• Drilling has been completed on time and within budget;

• Refurbishing of the evaporation ponds is complete;

• Tenders for major DFS work streams such as process plant design, geotechnical, hydrology/hydrogeology and tailings dam designs have been awarded and works on each package have commenced;

• Dewatering pipe/pump installation has started, with pumping to commence this quarter; and

• Comminution/flotation metallurgical test work is complete, with Albion Process[TM] test work underway.

Next steps

• Analyse assay results from Step-up drill program;

• Development of mineralised wireframes ahead of delivery of MRE for use in the DFS;

• Continue drilling near-mine and regional targets;

• Continue metallurgical test work for Albion Process[TM] ;

• Complete dewatering infrastructure installation and commence pumping;

• Continue preparation of approvals including Mining Proposals and Mine Closure Plans;

• Continue working with debt advisors to progress project financing;

• Environmental approvals and design work for various activities to continue; and

• Tender process for site infrastructure and mining contract.

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ASX: RXL ASX Announcement

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21 May 2025

Figure 3 – Pathway to Production Timeline

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ASX: RXL ASX Announcement 21 May 2025

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Authorisation:

This announcement is authorised for release by the Board of Rox Resources Limited.

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For further information, please contact:

Investor Inquiries

Media Inquiries

Phillip Wilding Emily Evans Managing Director & CEO Media and Content Manager Rox Resources Limited SPOKE admin@roxresources.com.au emily@hellospoke.com.au +61 8 9266 0044 +61 401 337 959

Rox Resources Limited

ABN 53 107 202 602 Level 2, 87 Colin Street, West Perth WA 6005 www.roxresources.com.au

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About Rox Resources

Rox Resources (ASX: RXL) is a West Australian focused gold exploration and development company. It is the 100 per cent owner of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and owns the Mt Fisher - Mt Eureka Gold and Nickel Project approximately 140 kilometres southeast of Wiluna, with 100% ownership of certain tenure with the remaining tenure held via a joint venture (Rox 51%, earning into 75%).

Youanmi Project has a Total Mineral Resource of 2.3Moz 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. It is classified as a disturbed site and is on existing mining leases which have significant existing infrastructure to support a return to mining operations.

Competent Persons Statement

Exploration Results

The information in this release that relates to Data and Exploration Results is based on information compiled and reviewed by Andrew Shaw-Stuart a Competent Person who is a Fellow Member of the Australian Institute of Geoscientists (AIG), Exploration Manager at Rox Resources and holds performance rights in the Company. The aforementioned has sufficient experience that is relevant to the style of mineralisation and type of target/deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Shaw-Stuart consents to the inclusion in the release of the matters based on the 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.

Metallurgical Results

The information in this report that relates to metallurgical results is based on information compiled and reviewed by Mr Michael Davis a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy (“AusIMM”) and a Metallurgist and Director of MineScope Services Pty Ltd. Mr Davis 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 Davis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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.

Resource Statements

The statement of estimates of Mineral Resources for the Youanmi Gold Project was reported by Rox in accordance with ASX Listing Rule 5.8 and the JORC Code (2012 edition) in the announcement “MRE Update confirms Youanmi as Significant High-Grade Gold Project and Paves Way for PFS” released to the ASX on 30 January 2024, and for which the consent of the Competent Person Mr Steve Le Brun was obtained. A copy of that announcement is available at www.asx.com.au. Rox confirms it is not aware of any new information or data that materially affects the Mineral Resources estimates information included in that market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources estimates in that announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.

Production Target

The Production Target and forecast financial information derived from the Production Target referred to in this release are underpinned by Indicated Mineral Resources (approximately 71%) and Inferred Mineral Resources (approximately 29%). The total Life of Mine Production Target includes 29% Inferred Resources ounces, 7% Indicated Resource ounces outside of Reserve and the remaining 64% is underpinned by Probable Ore Reserves. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the Production Target or forecast financial information reported will be realised. Accordingly, the Company has scheduled the Production Target such that Inferred Mineral Resources do not feature as a significant proportion of the first 4 years of the 9-year mine plan. Approximately 19% of the Production Target material mined over the first 4 years

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is underpinned by Inferred Mineral Resources. The Company is satisfied that the Inferred Mineral Resources partially underpinning the Production Target is not the determining factor of the viability of the Youanmi Gold Project.

Pre-Feasibility Study

The information in this announcement that relates to the production target for the Youanmi Gold Project was reported by Rox in accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement “Youanmi Gold Project - Positive Pre-Feasibility Study” released to the ASX on 24 July 2024, and for which the consent of the Competent Person Mr Daniel Marchesi was obtained. A copy of that announcement is available at www.asx.com.au. Rox confirms it is not aware of any new information or data that materially affects the information included in that market announcement and that all material assumptions and technical parameters underpinning the production target, and the related forecast financial information derived from the production target in that market announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.

Forward ‐ Looking Statements

Certain statements in this announcement relate to the future, including forward-looking statements relating to the Company and its business (including its projects). 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.

These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Neither the Company, its officers nor any other person gives any representation, assurance or guarantee that the events or other matters expressed or implied in any forward-looking statements will actually occur. You are cautioned not to place undue reliance on those statements.

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Appendix 1

Table 7 – Collar Locations and Drilling Details*

Hole ID	Prospect	Drill Type	East	North	RL	Depth	Dip	Azi
RXDD109	Pollard	RCD	679,810.78	6,833,536.61	454.56	329.3	-57.7	63.9
RXDD110	Pollard	RCD	679,825.20	6,833,489.13	453.64	308.9	-54.9	62.5
RXDD113	Pollard	RCD	679,887.96	6,833,443.16	456.95	357.0	-70.5	67.4
RXDD115	Pollard	RCD	679,839.05	6,833,517.76	457.11	295.6	-60.3	69.2
RXDD116	Pollard	RCD	679,876.08	6,833,458.64	457.33	372.2	-68.4	63.5
RXDD119	Youanmi Main	RCD	679,597.38	6,833,876.04	479.98	230.3	-74.2	60.3
RXDD122	Youanmi Main	RCD	679,523.98	6,833,982.23	480.08	345.2	-60.5	67.6
RXDD124	Pollard	RCD	679,863.50	6,833,485.46	456.95	327.0	-66.0	61.7
RXDD126	United North	RCD	678,941.27	6,834,295.18	461.64	490.0	-66.6	60.0
RXDD127	United North	RCD	679,024.42	6,834,315.85	461.29	450.0	-69.0	65.8
RXDD128	United North	RCD	679,046.77	6,834,329.87	461.58	396.0	-61.8	60.4
RXDD129	United North	RCD	679,090.87	6,834,336.34	461.15	393.0	-67.2	61.6
RXDD131	United North	RCD	679,001.43	6,834,353.97	461.30	447.0	-67.6	-64.0
RXDD132	United North	RCD	679,055.61	6,834,567.64	462.84	306.8	-61.9	-65.8
RXDD133	United North	RCD	678,945.06	6,834,297.47	461.59	468.0	-60.8	-62.2
RXDD153	Youanmi Main	RCD	679,471.69	6,834,120.98	480.83	358.7	-62.9	64.5

*Note: Collar details may change from previously announced details due to collars being surveyed with DGPS survey equipment.

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Sampling techniques
Drilling techniques
Drill sample recovery

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Logging
Sub-sampling techniques and sample preparation

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Quality of assay data and laboratory tests
Verification of sampling and assaying
Location of data points

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Data spacing and distribution
Orientation of data in relation to geological structure
Sample security
Audits or reviews
Metallurgical factors or assumptions

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	The metallurgical process proposed and the appropriateness of that process to the style of mineralisation. The proposed metallurgical process is on site oxidation of flotation concentrate by the Albion ProcessTM. Previous test work has shown this process is appropriate for this style of mineralisation.
	Whether the metallurgical process is well-tested technology or novel in nature. Bulk flotation is a common process employed by many precious and base metal operations where further concentrating or refining of the mineralisation is required
	The nature, amount and representativeness of metallurgical test work undertaken, the nature of the metallurgical domaining applied and the corresponding metallurgical recovery factors applied. Bulk flotation testwork was conducted on a ~530kg composite, selected to represent the lithology and grade profile of the prefeasibility study mine plan. A bulk sample is more representative than standard 1kg floats, reducing any potential effect caused by coarse nuggety gold on grade or recovery determination.
	Any assumptions or allowances made for deleterious elements. The test work and comprehensive head assays show that there are no deleterious elements recovered in concentrate.
	The existence of any bulk sample or pilot scale test work and the degree to which such samples are considered representative of the orebody as a whole. Bulk composites represent the two main domains that make up 63% of the pre-feasibility study mine plan.
	For minerals that are defined by a specification, has the ore reserve estimation been based on the appropriate mineralogy to meet the specifications? No minerals are defined by a specification.

JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation		Commentary	Commentary
Mineral tenement	Type, reference name/number, location and ownership	The Youanmi mining centre which		comprises	the leases:
and land tenure	including agreements or material issues with third parties	M57/51,	M57/75, M57/97,	M57/109,	M57/135,
status	such as joint ventures, partnerships, overriding royalties,	M57/160A,	M57/164, M57/165, M57/166 and		M57/167 is
	native title interests, historical sites, wilderness or national	100% owned by Rox Resources.
	park and environmental settings.

The security of the tenure held at the time of reporting along The tenements are in good standing and no known with any known impediments to obtaining a license to impediments exist. operate in the area.

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JORC Table 1 - Section 2 Reporting of Exploration Results

	Criteria	JORC Code explanation	Commentary
	Exploration done	Acknowledgment and appraisal of exploration by other	Significant previous exploration has been carried out
	by other parties	parties.	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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JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Geology
Drill hole Information
Data aggregation methods

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JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Relationship between mineralisation widths and intercept lengths
Diagrams
Balanced reporting
Other substantive exploration data
Further work

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