ROX RESOURCES LIMITED — Investor Presentation 2017

Jun 8, 2017

Acquire, Explore, Develop The Rox Formula for Growth

AMEC Conference Presentation

8 June 2017

Ian Mulholland - Managing Director

Who is Rox?

• An awarded Australian exploration company
• Strong Financial Positon: Cash of $15 million & receivables of ~$4 million, no debt
• JORC Mineral Resources of Nickel and Gold
• Projects in Australia
• Committed management with "skin in the game"

Corporate Information

Key Information

ASX Code:	RXL
Share Price:	A$0.015
Shares:	1,236M
Unlisted Options:	83.8M
Market Cap:	$18.5M
Cash:	$15.0M
EV:	$3.5M
Top 20:	26%

Money in the Ground

• ~70% of funds into exploration since inception
• 80% of funds into exploration over the last 5 years ($20 million)

Rox Growth Projects

Fisher East Nickel Sulphide Project

• Resource of 50,000t (110 Mlb) of contained nickel, 2.0 Mt @ 2.5% Ni1
• Potential to increase resources
• High quality targets
• Cobalt potential

Collurabbie Nickel-Gold Project

• 5.8m @ 3.0% Ni, 2.0% Cu, 5.3g/t PGE
• Under explored nickel-gold belt
• Cobalt potential

Nickel Primed For Recovery?

• Current uncertainty about nickel Indonesia, Philippines
• Spot price has risen from low a year ago
• Inventories & production in falling trend
• Nickel supply predicted to go into deficit over next 4 years
• Chinese stainless steel production stronger than expected

Nickel Price Projections*

• Nickel is predicted to move the most of the base and precious metals over next 4 years
• Predicted to be ~US$15,000/t (=US$6.80/lb) by 2021 (4 years)- that's >A$19,000/t (~A$8.80/lb)

* Hartleys Research 17 March 2017

Nickel Projects

• Two nickel sulphide projects in WA's northern goldfields
• Fisher East is a new nickel province discovered in 2013 by Rox
• Collurabbie discovered in 2004 by WMC but relatively unexplored
• Fisher East and Collurabbie are just 70km apart – project development synergies
• Mineral Resource1 of ~50,000 tonnes Ni metal @ 2.5% Ni at Fisher East
• Nickel sulphides contain cobalt ~0.1 – 0.2% Co

Development Studies

• Low technical risk project:
  • o Toll milling truck ore to nearby plant (two plants within 200km)
  • o Build a plant on site truck concentrate for sale
• Decline to underground mine ~100m depth to sulphides
• Standard underground mining techniques and costs (A$130/t)
• Metallurgical recoveries, 80 99%, and saleable concentrate grades, 10 - 14% Ni, acceptable Fe:MgO ratios, low As (no penalties)
• Straight forward process flow sheet and logistics
• Increased resources will increase mine life and project value

Fisher East Nickel

Four deposits discovered so far, Musket, Cannonball, Camelwood & Sabre

Total Mineral Resource* on three deposits of 2.0 Mt @ 2.5% Ni, for 50,000 tonnes Ni metal

* See Appendix for Mineral Resource details

Exploration Targets

Targeting massive nickel sulphides at Sabre, Camelwood and Musket

• Fresh sulphides in aircore at Mt Tate
• RC drilling underway at Cutlass, Sabre North, Tomahawk, Mt Tate, Horatio, and Claymore – results in 2-3 weeks
• Diamond drilling at Sabre, Camelwood & Musket to start shortly
• Looking to double total resource base

Attractive Gold Potential

$10M JV with Doray Minerals

• o $1M minimum expenditure in Year 1 before withdrawal (30 June 2017)
• o $4M over 2 years for 51%
• o $5M over +2 years for 75%
• JORC Mineral Resource of 86,000 ounces* on Rox's ground
• Large scale gold-in-regolith anomaly along complex western shear zone (Damsel-Dam-Shiva) – 10km long
• Doray have completed a 12,000m aircore drilling program – results being processed * See Appendix for Mineral Resource details

* $25,000 cash + 7.5 million RXL shares (~$150K)

Collurabbie Acquisition

• 123km2 of prospective tenure
• Main discovery at Olympia deposit
• Widespread Ni-Cu-PGE mineralisation over ~15km strike length on multiple stratigraphic horizons
• Drill targets for Ni-Cu-PGE
• Drill targets for Gold
• Quality datasets of drilling and extensive geophysics
• Underdone previous exploration
• Cheap* counter-cyclical quality acquisition

Exploration Potential

High grade Olympia lens:

• ❖ 5.8m @ 3.0% Ni, 2.0% Cu, 5.3 g/t PGE
• ❖ 3.8m @ 2.2% Ni, 1.8% Cu, 3.5 g/t PGE
• ❖ 1.9m @ 3.6% Ni, 2.8% Cu, 7.0 g/t PGE
• Elevated Co values ~ 0.1 – 0.2%
• Open at depth
• Resource on Olympia out soon
• Exploration potential over 15km of strike
• Drilling planned

Spot the Opportunity

• Rox seems under-valued based on the size and grade of our nickel resources
• Cash is $15m + $3.75m in receivables

Bubble size relates to amount of contained nickel, based on data as of 4 May 2017

Value Proposition

~$19 million in cash and receivables

• Outstanding gold and nickel assets located in WA, the world's #1 jurisdiction1
• Looking to double Ni resources to >100,000 tonnes contained nickel
• Studies demonstrate a technically robust project at Fisher East
• Focus on growing shareholder wealth by acquiring, exploring, and developing projects

Search for additional projects underway

Project Search

• Looking for projects in Gold, Silver, Copper, or Zinc
• Australia preferred, but also any jurisdiction with secure Mining laws and especially security and continuity of title
• Advanced exploration (i.e. mineral resource defined, or close to) through to feasibility/production stage (not grass roots)
• Please come and talk to me at our booth, or contact me later

Thank You

Rox Resources Limited Level 1, 34 Colin Street, West Perth, WA, 6005 AUSTRALIA T: (08) 9226 0044 F: (08) 9322 6254 E: admin@roxresources.com.au W: www.roxresources.com.au

Disclaimers

Forward-Looking Statements

This presentation has been prepared by Rox Resources Limited. This document contains background information about Rox Resources Limited current at the date of this presentation. The presentation is in summary form and does not purport be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Rox Resources Limited, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Rox Resources Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Rox Resources Limited does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

Competent Person Statements

Resource Statements

The information in this report that relates to nickel Mineral Resources for the Fisher East project was reported to the ASX on 5 February 2016 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 5 February 2016, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 5 February 2016 continue to apply and have not materially changed.

The information in this report that relates to gold Mineral Resources for the Mt Fisher project was reported to the ASX on 10 February 2012 (JORC 2004). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 10 February 2012, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 10 February 2012 continue to apply and have not materially changed.

Exploration Results

Exploration Results herein are based on information compiled and released to the ASX as follows:

Fisher East (ASX:RXL Between 1 December 2012 and the present)

Collurabbie (ASX:FCN 17 August 2004, 10 November 2004, 3 December 2004, 8 March 2005, 5 July 2010, and 8 July 2011).

In the case of the Exploration Results and Mineral Resources reported under the 2004 JORC Code, they have not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Court Action

On 15 November 2016 Rox Resources Limited (ASX: RXL) (Rox or the Company) advised that it had received correspondence from legal representatives acting on behalf of Marindi Metals Limited (ASX:MZN) (Marindi) in which Marindi has alleged that it considers the Company remains bound to complete the sale of its interest in the Reward Zinc Project to Marindi, notwithstanding the exercise by the Company's joint venture partner, Teck Australia Pty Ltd (Teck), of its pre-emptive right over the project.

The Company continues to maintain that Teck has validly exercised its pre-emptive right to acquire the Reward Zinc Project and will vigorously defend the legal action initiated by Marindi.

Mineral Resources

Fisher East Nickel, ASX:RXL 5 February 2016 Mt Fisher Gold, ASX:RXL 10 February 2012

Inferred 596,200 2.41 46,288 2.34 44,821 TOTAL 973,000 2.91 90,976 2.75 86,080

Deposit	Category	Tonnes (Mt)	Ni%	Ni (kt)	Deposit	Category	Tonnes		Uncut		Cut
								Grade(g/tAu)	Metal(Ozs)	Grade(g/tAu)	Metal(Ozs)	Value(g/tAu)
					Moray Reef	Measured	25,700	10.84	8,957	7.96	6,577	80
Camelwood	Indicated	0.99	2.56	25.3		Indicated	4,900	6.09	959	5.95	937	80
	Inferred	0.08	2.52	2.0		Inferred	1,200	3.87	149	3.87	149	80
	Total	1.06	2.56	27.3		TOTAL	31,800	9.85	10,066	7.50	7,664	80
Cannonball	Indicated	0.15	3.43	5.1
	Inferred	0.01	2.41	0.2	Mt Fisher	Measured	119,600	3.72	14,304	3.60	13,843	50
						Indicated	56,700	3.62	6,599	3.62	6,599	50
	Total	0.16	3.38	5.3		Inferred	38,900	3.44	4,302	3.41	4,265	50
Musket	Indicated	0.79	2.21	17.4		TOTAL	215,200	3.64	25,206	3.57	24,707	50
	Inferred	0.03	1.94	0.7
	Total	0.82	2.20	18.0	Damsel	Measured	26,600	2.91	2,489	2.68	2,292	30
						Indicated	143,300	2.47	11,380	2.39	11,011	30
TOTAL	Indicated	1.92	2.49	47.8		Inferred	556,100	2.34	41,837	2.26	40,407	30
	Inferred	0.12	2.35	2.9		TOTAL	726,000	2.39	55,705	2.30	53,710	30
	Total	2.04	2.48	50.6
					TOTAL	Measured	171,900	4.66	25,750	4.11	22,712
						Indicated	204,900	2.87	18,938	2.82	18,548

Fisher East: 1.5% Ni block cut-off grade. Values may not sum due to rounding. JORC 2012 Mt Fisher: 0.8 g/tAu block cut-off grade. Values may not sum due to rounding. JORC 2004