ROX RESOURCES LIMITED — Capital/Financing Update 2025

Feb 16, 2025

ASX : RXL

ASX Announcement 17 February 2025

==> picture [221 x 121] intentionally omitted <==

Youanmi High-Grade Gold Drilling and Works Program Update

West Australian gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) ( ASX: RXL ), is pleased to provide an update on parallel workstreams at the Youanmi Gold Project in WA.

Highlights:

• 35,000m step-up drill campaign[1] starting to deliver:

• Four diamond rigs (DD) and one reverse circulation (RC) rig currently onsite

• Initial significant assay results received to date, include:

• Pollard

  • RXDD146: 4.94m @ 84.55g/t from 312.7m

  • RXDD149A: 3.10m @ 16.42g/t from 244.9m

• Youanmi Main

  • RXDD148: 10.40m @ 7.84g/t from 464m

  • RXDD153: 5.79m @ 3.26g/t from 304m

  • RXRC557: 3m @ 5.63g/t from 151m

• United North

  • RXDD145: 32.27m @ 4.34g/t from 381.6m

  • RXRC560: 7m @ 4.36g/t from 357m

• Hill End

  • RXRC559: 9m @ 8.61g/t from 202m

• Rebel

  • RXRC548: 10m @ 3.12g/t from 147m

    • Incl. 3m @ 7.55g/t from 151m

• Targeting updated mineral resource estimate (MRE) mid-CY25

• Metallurgical test work program well advanced:

• Metallurgical sampling complete

• Comminution and flotation test work underway

• Expect to deliver concentrate for Albion Process[TM] in coming weeks

• Commencement of civil engineering work for dewatering of the Youanmi open pit and underground mine:

• Civil engineering crew onsite and currently refurbishing evaporation ponds

• Applications lodged with DWER to relocate water into Kathleen and Rebel pits

• Dewatering infrastructure ordered

• Accommodation upgrade and expansion well progressed to support all activities

• Corporate

• Appointment of Chief Financial Officer, General Manager Operations and Manager of Environment and Sustainability

1 Refer to RXL ASX announcement dated 5th December 2024 “Major 35,000m Step Up Drill Program Commences at Youanmi Gold Project”

ROX RESOURCES LIMITED ABN 53 107 202 602 www.roxresources.com.au

Level 2, 87 Colin Street

+61 8 9266 0044

West Perth WA 6005

admin@roxresources.com.au

==> picture [596 x 114] intentionally omitted <==

Rox Resources’ Chief Executive Officer, Phillip Wilding, commented :

“The Rox team’s hard work to execute the parallel workstreams is delivering strong results in alignment with DFS timeline. We are excited to update the market as results continue to flow in.

Initial results from our 35,000m step-up DD and RC program have returned fantastic intercepts from all resources areas but especially, Pollard and United North.

With five rigs on site, we are growing the resource base and increasing the Indicated resource category that will underpin a revised reserve and mine plan.

Metallurgical test work is well-advanced with concentrate scheduled to be shipped in mid-February, to Core Resources’ laboratories in Brisbane, to commence Albion test work.

Civil engineering crews are onsite refurbishing the evaporation ponds. We’ve ordered the dewatering infrastructure, and the crews are due onsite in early March to commence installation.”

Current Status of Drilling Activities

Drilling has focussed on the key deposits along the high-grade, 1.8km long Youanmi mineralised corridor (Figure 2) with the current status as outlined below:

• Drill campaign is on schedule and within budget to deliver 35,000m of drilling for $11m at the end of April

• 7,500m of DD drilling and 3,500m of RC drilling has been completed

• Sample processing is up to date with over 1,000 samples received by Bureau Veritas (BV) laboratory

• Phase 1 drilling at the Kathleen and Rebel area has been completed, with Phases 2 and 3 ongoing

• Some initial assays have been received for Phase 1 - Kathleen-United North, Phase 2 - Pollard and Phase 3 - Youanmi North

==> picture [449 x 219] intentionally omitted <==

Figure 1: Drill Rigs on Pollard

Page | 2

==> picture [596 x 114] intentionally omitted <==

==> picture [469 x 599] intentionally omitted <==

Figure 2: Plan view of the Youanmi Gold Project featuring focus areas of the Step-up drill campaign overlain on the 2024 MRE outline (red polygons) – note Midway, Interceptor and Paddy’s are projected surface expressions.

Page | 3

==> picture [596 x 114] intentionally omitted <==

35,000m Step-up drilling program

In December 2024, DDH1 and Strike Drilling were contracted to deliver a circa 35,000m drill campaign, which has the following aims:

• Grow the gold resource around near-mine areas, as outlined in the recently completed PreFeasibility Study (“PFS”)[2] , and

• Deliver a larger Indicated gold resource that will feed into the reserve that underpins the DFS

A revised mine plan from the DFS is aimed at delivering higher ore throughput rates and higher gold production per annum than previously reported, thereby reducing the capital payback period.

Results to date have been extremely encouraging in improving resource confidence, opening growth opportunities, and refining the geological understanding of the broader mineralised system.

Phase 1 Drilling Activity

Assay results have confirmed shallow mineralised extensions beneath the Rebel and Kathleen pits (Figures 2 & 3) e.g., RXDC548 (10m @ 3.12g/t Au incl. 3m @ 7.55 g/t Au), which supports continuity below the current resource.

At United North, economic-grade intersections in RXDD145 (32.3m @ 4.34g/t Au) and RXRC560 (7m @ 4.36g/t Au), along with detailed structural logging, confirms the continuation of the high-grade shoots. While RXDD145 potentially intersected the mineralised structure at a low angle, it is still considerably thicker with higher grade than currently modelled, reaffirming the potential for strong resource upside in the area.

Final assay returns for Phase 1 drilling are expected later this month .

Phase 2 Drilling Activity

In early January two diamond rigs moved to Pollard, which has been sparsely drilled at depth. Detailed logging of previous holes indicates high-grade shoots plunging directly below the currently modelled resource, which is supported by intersections in holes RXDD146 (4.94m @ 84.55g/t Au), and RXDD149A (3.10m @ 16.42g/t Au). Phase 2 drilling is ongoing.

Phase 3 Drilling Activity

Phase 3 drilling is targeting down-plunge, high-grade shoots in the Youanmi north area, between Youanmi Main and Hill End. This program aims to convert previously unclassified mineralisation into Inferred and Indicated categories that can be added to the pending MRE update. Initial results include RXDD148 (10.40m @ 7.84g/t Au), RXDD153 (5.79m @ 3.26g/t Au) and RXRC557 (3m @ 5.63g/t Au), which provide confirmation of the shallow resource upside and supports the evolving geological model for the area.

An infill hole at Hill End (RXRC559: 9m @ 8.61 g/t Au) confirms the gold endowment potential for this area.

Deeper holes (pending assays) display geological characteristics consistent with expected down-plunge projections of high-grade mineralised shoots. Additional assay results for Phase 3 are expected in March.

2 Refer to RXL ASX announcement dated 24th July 2024 “Positive Pre-Feasibility Study outlines long life, high-grade 100kozpa of gold doré at Youanmi”

Page | 4

==> picture [596 x 114] intentionally omitted <==

Below is a list of significant intercepts from the drill program to date:

• Pollard

• RXDD146: 4.94m @ 84.55g/t from 312.7m

• o RXDD149A: 3.10m @ 16.42g/t from 244.9m

• Youanmi Main

• RXDD148: 10.40m @ 7.84g/t from 464m

• o RXDD153: 5.79m @ 3.26g/t from 304m o RXRC557: 3m @ 5.63g/t from 151m

• United North

• RXDD145: 32.27m @ 4.34g/t from 381.6m

• o RXRC560: 7m @ 4.36g/t from 357m

• Hill End

• RXRC559: 9m @ 8.61g/t from 202m

• Rebel

o RXRC548: 10m @ 3.12g/t from 147m  Incl. 3m @ 7.55g/t from 151m

Page | 5

==> picture [842 x 115] intentionally omitted <==

==> picture [706 x 385] intentionally omitted <==

Figure3: Long section of the Youanmi Gold Project featuring; (i) focus areas of the Step-up drill campaign with drill hole pierce points, (ii) 2024 PFS stope shapes, and (iii) existing development with significant intercepts from the December 2024 and January 2025 campaigns.

Page | 6

==> picture [596 x 115] intentionally omitted <==

Camp Works

Minor camp works have been undertaken to bring the remaining facilities online with all houses now operational. General improvements to the site to accommodate the increased workforce is progressing well, along with early preparations for further works over the year.

Early Dewatering Activities

Rox has extensive evaporation ponds that are licensed for use. Minor refurbishment works are required and underway with completion expected by the end of February. Dewatering infrastructure for pumping equipment and pipes has been ordered, with deliveries to commence late February and installation works in March. An amendment to the existing discharge license has been lodged to seek permitting for dewatering to the northern pits, accelerating the opportunity to access the lower areas of the main pit and the previous underground workings.

Figure 4 shows the licensed evaporation pond area, and Figure 5 shows some progress photos of the refurbishment of the evaporation ponds, to ensure they continue to operate in line with discharge license conditions.

==> picture [531 x 438] intentionally omitted <==

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

Previous Tailings
Storage
Licensed
Evaporation
Ponds
----- End of picture text -----

Page | 7

==> picture [596 x 114] intentionally omitted <==

Figure 4: Plan view showing the location of dewatering infrastructure.

==> picture [461 x 325] intentionally omitted <==

Figure 5: Evaporation pond refurbishment progress.

Metallurgical Test Work

Metallurgical samples, from across all Youanmi deposits, have been delivered to ALS Perth, where comminution and flotation test work is underway (Figure 6). This will generate the concentrate required for the Albion Process[TM] test work, with initial results from Core Resources expected mid-year.

Page | 8

==> picture [596 x 114] intentionally omitted <==

==> picture [523 x 197] intentionally omitted <==

Figure 6: Metallurgical composite rougher flotation (left) and cleaner flotation (right).

Management team updated

At the beginning of February, the Company increased its capabilities with the addition of key senior personnel.

Greg Hoskins commenced as Chief Financial Officer[3] bringing significant corporate experience to the team along with skills in project financing.

Oliver Keene commenced as General Manager – Operations, an experienced mining engineer, with extensive background in project permitting and commencement of mining operations, along with leading operational teams.

Ben Sambell commenced as Environment and Sustainability Manager, having significant experience in project permitting and compliance.

The addition of these roles is key in delivery of our Indicative Pathway to Production, with the team now having the required skillsets to be able to deliver on our plan and provide the basis to build an operational asset.

Indicative Pathway to Production[4]

The Indicative Pathway to Production is currently on track with drilling on time and budget, dewatering civil engineering work underway, and comminution/flotation metallurgical test work nearing completion, ahead of Albion[TM] test work on the concentrate.

3 Refer to RXL ASX announcement dated 15th January 2025 “Appointment of Chief Financial Officer”

4 Refer to RXL ASX announcement dated 13th November 2024 “Investor Presentation - Pathway to Production with Exceptional Gold Growth Potential”

Page | 9

==> picture [596 x 114] intentionally omitted <==

==> picture [536 x 212] intentionally omitted <==

Next steps

• Continue drilling activities to deliver MRE update

• Complete comminution and flotation work metallurgical test work, and start Albion Process[TM] test work

• Complete dewatering civils works and infrastructure to install

• Environmental approvals and design work for various activities to continue

• Tailings dam design work to get underway

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

* ENDS ***

For further information visit roxresources.com.au or contact admin@roxresources.com.au

Phillip Wilding Chief Executive Officer Rox Resources Limited E: admin@roxresources.com.au Tel: +61 8 9266 0044

Gerard McArtney Investors and Media Purple E: gmcartney@purple.au Tel: 0487 934 880

Page | 10

==> picture [596 x 114] intentionally omitted <==

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.

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 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.

Page | 11

==> picture [596 x 114] intentionally omitted <==

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.

Page | 12

==> picture [596 x 114] intentionally omitted <==

Table 1 – Collar Locations and Drilling Details

Hole Id	Prospect	Drill Type	East	North	RL	Depth	Dip	Azi
RXRC564	Pollard	RC	679950.00	6833347.00	457.00	250	-50	65
RXRC563	Pollard	RC	679952.95	6833324.43	457.73	250	-60	65
RXRC562	Pollard	RC	679962.00	6833307.00	457.00	240	-50	65
RXRC560	United North	DD	679001.43	6834462.39	461.67	380	-68	64
RXRC559	Hill End	RC	679434.26	6834349.15	468.86	190	-55	85
RXRC557	Youanmi Main	RC	679651.00	6834277.00	472.00	200	-65	65
RXRC552	Kathleen	RC	679141.64	6834753.62	466.03	150	-60	64
RXRC550	Kathleen	RC	679168.58	6834855.49	467.75	140	-60	64
RXRC548	Rebel	RC	678982.48	6834951.71	466.24	200	-60	65
RXRC547	Rebel	RC	678962.41	6835024.40	466.37	180	-60	65
RXRC546	Rebel	RC	679010.67	6835045.77	467.38	150	-60	64
RXRC545	Rebel	RC	679010.96	6835097.18	467.60	130	-60	65
RXRC544	Rebel	RC	678923.70	6835090.04	465.92	180	-60	65
RXDD155	Pollard	DD	679813.07	6833467.00	453.00	430	-62	73
RXDD153	Youanmi Main	DD	679471.00	6834122.00	481.00	330	-61	65
RXDD152A	Pollard	DD	679791.65	6833546.10	453.00	300	-50	64
RXDD151	Pollard	DD	679813.20	6833467.00	453.00	400	-62.5	53
RXDD150	Youanmi Main	DD	679565.00	6834160.00	481.00	250	-55	65
RXDD149A	Pollard	DD	679791.70	6833546.20	453.00	365	-65	61
RXDD148	Youanmi Main	DD	679327.02	6833928.10	460.00	510	-70	65
RXDD147	Pollard	DD	679812.90	6833466.87	453.45	410	-61	64
RXDD146	Pollard	DD	679788.47	6833521.60	453.35	350	-60	65
RXDD145	United North	DD	678958.69	6834497.18	461.46	400	-70	64
RXDD144	United North	DD	678972.72	6834548.53	461.68	380	-70	64
RXDD142	Pollard	DD	679812.89	6833466.88	453.45	360	-61	64
RXDD141	Pollard	DD	679788.46	6833521.60	453.35	350	-60	65
RXDD140	Rebel	DD	678910.70	6834863.50	464.59	260	-60	64
RXDD139	Kathleen	DD	679063.61	6834715.56	463.10	210	-60	64
RXDD138	United North	DD	679054.52	6834633.23	463.32	300	-60	64
RXDD137	United North	DD	679112.46	6834642.18	464.11	260	-60	65
RXDD136	United North	DD	678979.36	6834596.37	461.96	350	-60	64
RXDD135	United North	DD	679024.84	6834574.44	462.43	350	-60	64

Page | 13

==> picture [596 x 114] intentionally omitted <==

Table 2 – Significant Intersections

Hole ID	Prospect	Drill Type	From	To	Interval	Au g/t	Au g.m.
RXRC564	Pollard	RC	48.00	49.00	1.00	1.16	1.16
RXRC564	Pollard	RC	76.00	80.00	4.00	1.03	4.12
RXRC564	Pollard	RC	159.00	160.00	1.00	5.22	5.22
RXRC564	Pollard	RC	169.00	171.00	2.00	1.77	3.53
RXRC564	Pollard	RC	188.00	192.00	4.00	2.95	11.81
RXRC563	Pollard	RC	103.00	104.00	1.00	2.54	2.54
RXRC562	Pollard	RC	82.00	88.00	6.00	1.19	7.15
RXRC560	United North	RC	328.00	329.00	1.00	1.09	1.09
RXRC560	United North	RC	341.00	347.00	6.00	1.15	6.88
RXRC560	United North	RC	352.00	354.00	2.00	2.39	4.77
RXRC560	United North	RC	357.00	364.00	7.00	4.36	30.55
RXRC560	United North	RC	380.00	381.00	1.00	1.81	1.81
RXRC559	Hill End	RC	188.00	191.00	3.00	1.13	3.38
RXRC559	Hill End	RC	202.00	211.00	9.00	8.61	77.53
RXRC557	Youanmi Main	RC	151.00	154.00	3.00	5.63	16.90
RXRC557	Youanmi Main	RC	165.00	166.00	1.00	1.18	1.18
RXRC552	Kathleen	RC	153.00	154.00	1.00	1.21	1.21
RXRC550	Kathleen	RC	97.00	98.00	1.00	1.02	1.02
RXRC548	Rebel	RC	147.00	157.00	10.00	3.12	31.20
	Incl		151.00	154.00	3.00	7.55	22.66
RXRC547	Rebel	RC	83.00	87.00	4.00	2.90	11.58
RXRC547	Rebel	RC	94.00	95.00	1.00	2.36	2.36
RXRC547	Rebel	RC	174.00	176.00	2.00	2.47	4.94
RXRC546	Rebel	RC	59.00	60.00	1.00	2.80	2.80
RXRC545	Rebel	RC	102.00	103.00	1.00	1.30	1.30
RXRC544	Rebel	RC	88.00	90.00	2.00	1.79	3.58
RXDD155	Pollard	DD	81.00	82.00	1.00	2.46	2.46
RXDD153	Youanmi Main	DD	304.00	309.79	5.79	3.26	18.86
RXDD152A	Pollard	DD	79.00	80.00	1.00	1.02	1.02
RXDD152A	Pollard	DD	134.72	135.44	0.72	1.57	1.13
RXDD152A	Pollard	DD	145.00	146.00	1.00	6.06	6.06
RXDD151	Pollard	DD	153.97	154.28	0.31	2.83	0.88
RXDD151	Pollard	DD	351.00	353.65	2.65	0.99	2.62
RXDD150	Youanmi Main	DD	87.55	88.00	0.45	2.01	0.90
RXDD150	Youanmi Main	DD	228.08	228.62	0.54	1.07	0.58
RXDD149A	Pollard	DD	244.90	248.00	3.10	16.42	50.91
RXDD149A	Pollard	DD	335.00	336.00	1.00	1.37	1.37
RXDD149A	Pollard	DD	340.00	343.00	3.00	0.78	2.35

Page | 14

	Hole ID	Prospect	Drill Type	From	To	Interval	Au g/t	Au g.m.
	RXDD148	Youanmi Main	DD	82.00	84.00	2.00	2.49	4.99
	RXDD148	Youanmi Main	DD	433.59	436.00	2.41	3.29	7.94
	RXDD148	Youanmi Main	DD	464.00	474.40	10.40	7.84	81.52
	RXDD148	Youanmi Main	DD	482.00	483.00	1.00	1.18	1.18
	RXDD148	Youanmi Main	DD	492.80	494.00	1.20	1.07	1.28
	RXDD147	Pollard	DD	144.19	144.70	0.51	5.58	2.85
	RXDD147	Pollard	DD	209.62	210.03	0.41	1.70	0.70
	RXDD147	Pollard	DD	279.96	281.11	1.15	1.84	2.11
	RXDD147	Pollard	DD	300.16	301.48	1.32	1.92	2.53
	RXDD147	Pollard	DD	340.72	341.76	1.04	1.68	1.75
	RXDD146	Pollard	DD	128.20	132.26	4.06	1.68	6.80
	RXDD146	Pollard	DD	129.40	131.15	1.75	2.32	4.07
	RXDD146	Pollard	DD	312.65	317.59	4.94	84.55	417.67
	RXDD145	United North	DD	121.15	121.64	0.49	3.39	1.66
	RXDD145	United North	DD	348.35	349.57	1.22	3.64	4.44
	RXDD145	United North	DD	352.10	354.47	2.37	3.40	8.05
	RXDD145	United North	DD	368.21	369.60	1.39	2.32	3.22
	RXDD145	United North	DD	381.60	413.87	32.27	4.34	139.94
		Incl		386.70	387.39	0.69	40.70	28.08
		Incl		388.02	391.22	3.20	3.24	10.37
		Incl		393.04	395.75	2.71	3.20	8.69
		Incl		398.81	400.23	1.42	37.15	52.75
		Incl		401.61	403.30	1.69	3.44	5.82
		Incl		407.51	408.75	1.24	7.94	9.84
		Incl		410.90	412.19	1.29	1.66	2.14
	RXDD145	United North	DD	418.80	419.46	0.66	6.62	4.37
	RXDD145	United North	DD	421.63	422.63	1.00	1.22	1.22
	RXDD145	United North	DD	426.55	427.61	1.06	1.16	1.23
	RXDD144	United North	DD	315.47	317.23	1.76	1.08	1.90
	RXDD144	United North	DD	321.18	321.50	0.32	1.58	0.51
	RXDD144	United North	DD	323.21	324.45	1.24	1.68	2.08
	RXDD144	United North	DD	341.11	341.52	0.41	9.20	3.77
	RXDD142	Pollard	DD	137.20	137.57	0.37	2.84	1.05
	RXDD142	Pollard	DD	173.44	174.00	0.56	1.50	0.84
	RXDD142	Pollard	DD	304.77	307.75	2.98	1.57	4.69
	RXDD142	Pollard	DD	306.70	307.75	1.05	3.29	3.46
	RXDD142	Pollard	DD	309.87	311.48	1.61	2.41	3.87
	RXDD141	Pollard	DD	273.85	274.40	0.55	2.29	1.26
	RXDD141	Pollard	DD	306.23	310.14	3.91	1.86	7.27
	RXDD141	Pollard	DD	318.70	320.62	1.92	1.42	2.72

Page | 15

	Hole ID	Prospect	Drill Type	From	To	Interval	Au g/t	Au g.m.
	RXDD140	Rebel	DD	115.67	116.11	0.44	6.89	3.03
	RXDD139	Kathleen	DD	187.11	188.00	0.89	2.17	1.93
	RXDD138	United North	DD	113.68	114.61	0.93	1.84	1.71
	RXDD138	United North	DD	187.20	188.33	1.13	1.07	1.21
	RXDD138	United North	DD	206.70	208.18	1.48	1.66	2.46
	RXDD138	United North	DD	243.06	243.95	0.89	1.24	1.10
	RXDD137	United North	DD	198.56	202.42	3.86	1.23	4.75
	RXDD137	United North	DD	208.72	209.58	0.86	1.28	1.10
	RXDD137	United North	DD	249.65	251.02	1.37	1.25	1.71
	RXDD137	United North	DD	253.28	254.50	1.22	1.18	1.44
	RXDD136	United North	DD	103.86	105.95	2.09	4.01	8.38
	RXDD136	United North	DD	155.80	156.95	1.15	1.12	1.29
	RXDD136	United North	DD	228.98	229.60	0.62	2.18	1.35
	RXDD136	United North	DD	283.31	284.28	0.97	5.58	5.41
	RXDD135	United North	DD	69.90	70.75	0.85	2.14	1.82
	RXDD135	United North	DD	278.41	280.52	2.11	0.99	2.09

Page | 16

==> picture [596 x 114] intentionally omitted <==

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 HQ at the start of the hole, changing to NQ2 in competent rock with 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. A handheld XRF instrument was used assist in geological logging.
	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 HQ and NQ2, however 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 Diamond core recoveries are logged and recorded in the database. Overall recoveries are typically >99% and there are no apparent core loss issues or significant sample recovery problems. Hole depths are verified against core blocks. Regular rod counts are performed by the drill contractor. There is no apparent relationship between sample recovery and grade. RC drill recoveries were high (>90%).

Page | 17

==> picture [596 x 114] intentionally omitted <==

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	Measures taken to maximise sample recovery and ensure representative nature of the samples Samples were visually checked for recovery, moisture and contamination and notes made in the logs.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no observable relationship between recovery and grade, and therefore no sample bias.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Detailed geological logs have been carried out on all RC, but no geotechnical data have been recorded (or is possible to be recorded due to the nature of the sample). 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. Samples were collected from the same side of the core where possible, preserving the orientation mark in the kept core half. If no orientation line was possible a cut line was used on the core.
	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.

Page | 18

==> picture [596 x 114] intentionally omitted <==

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
	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. Lab XRF was completed on the pulps for the diamond core samples.
	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 50S for easting, northing and RL.
	Quality and adequacy of topographic control. The topography of the area is relatively flat and has been surveyed during the mining period by the mine survey team. The Competent Person considers that the surface is suitable for this MRE

Page | 19

==> picture [596 x 114] intentionally omitted <==

JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
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 were completed for all holes. No composites were taken.
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 mineralisation strikes generally WNW and dips to the SW at approximately -60 degrees. The drill orientation was 065 and -60 dip. Drilling is believed to be generally perpendicular to strike.
	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 the majority of samples these bags were transported directly to the assay laboratory by the Company. 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.

Page | 20

==> picture [596 x 114] intentionally omitted <==

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. The Youanmi mining centre which comprises the leases: M57/51, M57/75, M57/97, M57/109, M57/135, M57/160A, M57/164, M57/165, M57/166 and M57/167 is 100% owned by Rox Resources.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area. The tenements are 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.

Page | 21

==> picture [596 x 114] intentionally omitted <==

JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	The Youanmi Project straddles a 40km strike length of the
		Youanmi Greenstone Belt, lying within the Southern Cross
		Province of the Archaean Yilgarn Craton in Western
		Australia. The greenstone belt is approximately 80km long
		and 25km wide, and incorporates an arcuate, north-
		trending major crustal structure termed the Youanmi Fault
		Zone. This structure separates two discordant greenstone
		terrains, with the stratigraphy to the west characterised by
		a series of weakly deformed, layered mafic complexes
		(Windimurra, Black Range, Youanmi and Barrambie)
		enveloped by strongly deformed, north-northeast trending
		greenstones.
		Gold mineralisation is developed semi-continuously in
		shear zones over a strike length of 2,300m along the
		western margin of the Youanmi granite.
		Gold is intimately associated with sulphide minerals and
		silicates in zones of strong hydrothermal alteration and
		structural deformation. Typical Youanmi lode material
		consists of a sericite- carbonate- quartz- pyrite-
		arsenopyrite schist or mylonite which frequently contains
		significant concentrations of gold, commonly as fine, free
		gold particles in the silicates, occluded in sulphide
		minerals and in solid 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 southeast 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 quartzsericite 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.

Page | 22

==> picture [596 x 114] intentionally omitted <==

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.

Page | 23

==> picture [596 x 114] intentionally omitted <==

JORC Table 1 - Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Other substantive	Other exploration data, if meaningful and material, should be	All meaningful and material information has been included
exploration data	reported including (but not limited to): geological	in the body of the announcement.
	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.
Further work	The nature and scale of planned further work (e.g. tests for	Further work (RC and diamond drilling) is justified to locate
	lateral extensions or depth extensions or large-scale step-	extensions to mineralisation both at depth and along
	out drilling).	strike.
	Diagrams clearly highlighting the areas of possible
	extensions, including the main geological interpretations and
	future drilling areas, provided this information is not
	commercially sensitive

Page | 24