ROX RESOURCES LIMITED — Regulatory Filings 2018

Jul 10, 2018

11 JULY 2018 R R L 1 5 7 6 D

MT FISHER GOLD MINERAL RESOURCE UPDATE

Key Points

• Mt Fisher Gold Mineral Resource increases to 1.0 million tonnes at 2.7g/t Au for 89,000 ounces
• Mineral resource comprises:
  • o Measured 170,000t @ 4.1 g/t Au for 23,000 ounces
  • o Indicated 220,000t @ 2.7 g/t Au for 19,000 ounces
  • o Inferred 630,000t @ 2.3 g/t Au for 47,000 ounces
• New Mineral Resource estimate due to new bulk density data

Rox Resources Limited (ASX: RXL) ("Rox" or "the Company") is pleased to provide an update to the previously released gold Mineral Resource at the Company's Mt Fisher Project (ASX:RXL 28 March 2018) located 500km north of Kalgoorlie in Western Australia. The updated resource now takes into account new bulk density measurements carried out on recently acquired drill core.

Mt Fisher comprises three separate gold deposits at Moray Reef, Mt Fisher and Damsel (Figure 2).

At a cut-off grade of 0.8 g/tAu, the Mt Fisher resource is now stated as 1.0 million tonnes grading 2.7 g/tAu for 89,000 ounces (high grade cuts applied as per Table 1).

The Company recently announced plans to spin out Rox's wholly owned subsidiary, Helios Gold, which will become the owner of the Mt Fisher gold tenements and gold mineral resource.

An RC drilling program has been designed to test several targets at Dam, Dam North, Damsel, Damsel South, Dirks and Shiva (Figure 2), which should add to the resource base in due course. Drilling can commence upon completion of the Helios Gold IPO

FURTHER INFORMATION

The mineral resources at Mt Fisher are based on RC drilling completed by Rox during 2011 (48 holes for 8,619 metres) plus previous RC and diamond drilling by other companies.

Resource models are reported using a minimum cut-off of 0.8 g/tAu (Table 1). A second table of total resources at different cut-off grades is given in Table 2.

Details of resource estimation techniques etc. are given in the Appendix, and were fully discussed in the previous resource report (ASX:RXL 28 March 2018).

Moray Reef

Moray Reef (Figure 2) is a high-grade gold deposit hosted in a quartz vein within basalt/dolerite. The deposit is still open at depth and potentially along strike (Figure 3), with parallel lodes also possible. Further drilling is warranted to fully investigate the extent of the mineralisation.

Mt Fisher Mine

The resource estimate is for gold mineralisation up to 60 metres below the Mt Fisher open pit (Figure 4). This ore may be possible to access via a pit cut-back. Drilling conducted by Rox indicates that the gold resource may continue for at least a further 300-500 metres south of the pit as indicated by a strong VTEM anomaly possibly reflecting the presence of the sulphidic chert host unit at depth, and drill hole MFRC033 which intersected 5m @ 1.58 g/tAu from 263 metres down hole (Figure 5).

Damsel

Damsel (Figure 2) is a gold mineralised zone about 500-600 metres long, 50-100 metres wide and 1-15 metres thick, between surface (at the south end) and 100 metres depth (at the north end) (Figure 6). There may be continuation of the mineralisation down dip within the unweathered zone, but this requires further drilling.

Resource Estimate Methodology

Cross-sections showing logged geology, assay results and drillhole traces were examined at appropriate spacing, and mineralised intervals were selected using a minimum thickness of 1 metre and a maximum internal dilution of 1 metre above the selected cut-off grade. The mineralised intervals were plotted on the cross sections, and outlines drawn using known geological interpretation. These outlines were then converted to three dimensional wireframes which constrained the mineralisation. Standard 1 metre downhole composite intervals were used for estimation of grade.

Sampling Techniques and Data

Sampling Techniques

Drill samples were collected in bags online from the drill rig's splitter. There was minimal sample loss and most holes were kept dry by the air pressure and volume. Only a small number of samples were damp.

A sub-split sample was retained from each one metre interval for subsequent re-analysis if required.

Drilling Techniques

Resource outlined were based on results from RAB, Aircore and RC drilling. However only RC assay results were used in the estimation of the resource grade.

The RC drilling used a face-sampling hammer and a closed riffle/cone splitting system which delivered a 2-3kg sample for assay.

Drill sample recovery

Drill sample recovery in RC holes was excellent, estimated to be generally >90%.

Logging

Logging was completed as each hole was being drilled. Data recorded included lithology, sulphide and vein content, as well as depth.

Sub-sampling techniques and sample preparation

A standard sampling length of one metre was chosen for suspected/anticipated mineralised intervals and composite samples of up to four metres length were used for all other parts of the drill hole. Any composite samples grading more than 0.5 g/tAu were re-analysed using the retained one metre subsplits.

All drill samples were appropriately packaged and dispatched to Intertek Genalysis Laboratories in Kalgoorlie by road transport, where sample preparation was undertaken. Sample pulps were then transported to Perth for analysis.

Verification of sampling and assaying

No inter-laboratory check assays have been completed at this stage. The laboratory routinely ran and reported standards at various values as an internal control. The laboratory also ran duplicate analyses on certain samples. In addition, field duplicate splits were submitted along with the routine samples and these results were plotted to detect any inconsistencies.

There were no significant problems detected in the QA/QC data from the primary assay laboratory. Two twinned holes were drilled at the Moray Reef deposit and returned satisfactory comparative results.

Location of data points

Location of each drill hole was established using a hand-held GPS unit accurate to within 1 metre.

Downhole surveys were initially conducted using a multi-shot digital recorder supplied with the drilling rig and surveys were undertaken at approximately 50 metre intervals downhole. Subsequently a continuous downhole logging tool operated by Ranger Surveys was used to survey the drill holes used in the resource estimates.

Data spacing and distribution

Holes were drilled at various spacings varying from 20 x 10 metres at Moray Reef, 40 x 40 metres at Mt Fisher to 100 x 25 metres at Damsel, reflecting the drill evolution of each of these prospects.

The spacing of this data is considered adequate to establish geological and grade continuity for the resource categories given the nature and style of the gold mineralisation.

Orientation of data in relation to geological structure

Data from previous drilling allowed the generalised dip and strike of the geological units to be determined, and drillhole orientations were designed to be as perpendicular to this as possible, while still honouring the drill directions preferable to draw cross sections.

A generalised drill hole orientation of -60o towards 270o azimuth was used at Moray Reef and Mt Fisher, while at Damsel the drill hole orientation was -60o towards 090o azimuth.

Audits or reviews

No audits or reviews of the database have been conducted at this stage, although a preliminary resource estimate (not quoted herein) of the Moray Reef deposit was undertaken by an independent consultant.

Estimation and Reporting of Mineral Resources

Database integrity

A database comprising 4 separate files for collar location, assay values, downhole survey and geology was compiled. Sample location data recorded in the field were matched with assay data provided by the laboratory.

Geological interpretation

Lithology and mineralisation were recorded for each hole drilled, and these where matched up between holes to form a coherent geological model. Because of the vein and structural controls on mineralisation, and its cross-cutting nature, mineralisation sometimes crosses lithological boundaries. There is a reasonable to strong confidence in geological and grade continuity.

No extrapolation of mineralisation beyond half the distance to an adjacent drill hole has been made, or where mineralisation is open, half the drillhole spacing has been used.

The depth to the top of fresh rock was observed to vary between 20 and 60 metres below surface at Moray Reef and Mt Fisher, while at Damsel it was up to 100 metres below surface. Appropriate coding of weathering into oxide, transition and fresh rock was applied.

Dimensions

The dimensions of mineralisation so far defined in the resource estimation are:

Moray Reef: 350 metres strike (north-south), 100 metres down dip, 1-4m thick (east-west). Mt Fisher: 200 metres strike (north-south), 100 metres down dip, 2-10 metres thick (east-west). Damsel: 500 metres strike (north-south), 100 metres down dip, 2-15 metres thick (east-west)

Estimation and modelling techniques

The estimation technique used was the inverse distance cubed interpolation method, using an ellipsoidal search method of varying radius depending on the geostatistical parameters of each mineralised zone. These were:

	Ellipse
Deposit	Major Axis	Minor Axis	Thickness	Azimuth	Plunge	Dip
Moray Reef	40m	40m	5m	360	0	-90
Mt Fisher	90m	65m	5m	350	-25 south	-40 east
Damsel	100m	25m	5m	180	-10 north	-45 west

High grades were cut to 80 g/tAu (Moray Reef), 50 g/tAu (Mt Fisher) and 30 g/tAu (Damsel) as indicated by cumulative and log probability graphs. The mineralisation in each deposit was shown to form only one population which was generally a log-normal distribution typical of gold deposits.

Grade interpolation was undertaken using one metre downhole composite assay values constrained within the interpreted wireframes as described above.

One of the deposits, Mt Fisher, was also modelled using ordinary kriging and the results produced were similar to the inverse distance cubed result.

No previous resource estimates for these zones of mineralisation have been made, although a previous ore reserve estimate of the mined mineralisation at the Mt Fisher mine was made in 1986 as 250,000 tonnes grading 5.3 g/tAu to a vertical depth of 100m, at 1 g/tAu cut-off (Powell et. al., 1990). A high grade cut of 30 g/tAu was made and a bulk density of 2.6 t/m3 was used. By the end of 1989 217,705 tonnes had been mined and recovered 22,665 oz of gold by CIP methods (implied recovered grade of 3.24 g/tAu). Reports indicated that mined ROM grade was 4.3 g/tAu implying mining dilution of 19% (5.3 g/tAu reserve grade to 4.3 g/tAu mined grade) and recovery of 75% (4.3 g/tAu mined grade to 3.24 g/tAu recovered grade).

Moisture

The tonnages are estimated on a dry basis. No hygroscopic minerals have been observed or are suspected of being present.

Cut-off parameters

Cut-off parameters were selected based on the current price for gold, and likely mining and processing costs which were estimated from published data relating to similar type operations to that envisaged at Mt Fisher. On this basis a cut-off of 0.8 g/tAu was chosen for reporting of resources.

Mining factors and assumptions

A minimum intersection thickness of 1 metre was used to reflect a likely minimum mining thickness. No mining dilution has been accounted for in the resource model. Internal dilution of a maximum of 1 metres has been accounted for in the intersection calculation.

No specific assumptions about mining technique have been made, although it is envisaged to be open cut.

Metallurgical factors and assumptions

It is assumed that satisfactory metallurgical recoveries will be possible, but no specific metallurgical testwork has been undertaken as yet. A cyanide leach test on a 40kg sample grading about 0.85 g/tAu from the low grade stockpile at Mt Fisher was undertaken and produced a recovery of 97%.

Previous mining at Mt Fisher recovered 75% of gold using the CIP extraction method.

Bulk density

The previously used WA Eastern Goldfields average bulk density value of 2.7t/m3 for fresh rock was checked by measurements on recently acquired diamond drill core from Damsel and Mt Fisher, and surface spoil samples (from underground workings at Moray Reef) using the water displacement method.

For Damsel the bulk density for fresh rock was measured over a number of mineralised intervals and determined to be 2.9t/m3 . For Mt Fisher, measurements were made on mineralised drill core and the bulk density was determined as 2.85t/m3 . For Moray Reef, measurements were made on several samples of fresh mineralised rock collected from surface stockpiles from underground mining. The bulk density of fresh rock was determined to be 2.7t/m3 .

Oxide and transition zone bulk densities remain as WA Eastern Goldfields averages of 1.8t/m3 and 2.2t/m3 respectively.

Classification

The resources have been classified according to the amount of assay information available to inform the block interpolator. This was related to the geostatistical range of mineralisation as indicated on semi-variograms. The categories were determined as follows:

Measured:	Sufficient data within a distance of two-thirds of the semi-variogram range
Indicated:	Sufficient data within a distance of the semi-variogram range
Inferred:	All blocks with sufficient data beyond the semi-variogram range

Essentially this results in the measured category where data is most dense and the inferred category where there is sparse data, and reflects the confidence in estimating grade for any particular block.

The resources are considered to be suitable for preliminary mine planning, which upon further drilling and metallurgical testwork could result in ore reserves being defined.

Audits or reviews

An independent external review of the resource estimation methodology by a reputable consultant was conducted and the resource estimation methodology was determined to be appropriate.

Discussion of relative accuracy/confidence

As further drilling is completed, the spatial location of the mineralisation will become better known and the thickness and grades in these locations will become better defined. Within the resource now estimated, because of the consistency in grade and thickness of the mineralisation between drillholes already observed, it is believed that this initial estimate of the volume and grade herein estimated will not vary beyond reasonable limits.

However, the detail within the resource may change, and at certain cut-off grades more or less tonnes at higher or lower grades will be estimated. Also, as more drill holes extend the mineralisation the tonnage is expected to increase at any given cut-off grade.

ENDS

For more information:

Shareholders/Investors Media

Ian Mulholland Michael Weir Managing Director Citadel-MAGNUS Tel: +61 8 9226 0044 Tel: +61 8 6160 4903 admin@roxresources.com.au mweir@citadelmagnus.com

				Uncut		Cut
			Grade	Metal (oz	Grade	Metal (oz	Value
Deposit	Category	Tonnes	(g/tAu)	Au)	(g/tAu)	Au)	g/tAu
Damsel	Inferred	591,820	2.29	43,627	2.23	42,339	30
	Indicated	151,464	2.33	11,358	2.27	11,060	30
	Measured	23,712	2.80	2,135	2.59	1,974	30
	TOTAL	766,997	2.32	57,120	2.25	55,373	30
Mt Fisher	Inferred	40,934	3.44	4,528	3.41	4,494	50
	Indicated	59,533	3.63	6,948	3.63	6,948	50
	Measured	125,605	3.73	15,045	3.61	14,569	50
	TOTAL	226,073	3.65	26,521	3.58	26,011	50
Moray
Reef	Inferred	1,242	3.87	155	3.87	155	80
	Indicated	4,930	6.09	966	5.95	943	80
	Measured	25,521	10.92	8,960	8.02	6,577	80
	TOTAL	31,693	9.89	10,081	7.53	7,675	80
TOTAL	Inferred	633,997	2.37	48,309	2.31	46,987
	Indicated	215,928	2.78	19,273	2.73	18,951
	Measured	174,838	4.65	26,140	4.11	23,121
	TOTAL	1,024,762	2.84	93,721	2.70	89,059

Table 1: Mineral Resources – Mt Fisher, 0.8 g/tAu minimum cut-off

Table 2: Resource Summary at Different Cut-offs

Cut-off	Tonnes		Grade (g/tAu)		Metal (oz Au)
		Uncut	Cut	Uncut	Cut
3.0	306,622	5.13	4.66	50,529	45,930
2.0	584,931	3.88	3.64	73,022	68,369
1.0	975,633	2.94	2.79	92,244	87,584
0.8	1,024,762	2.84	2.70	93,721	89,059
0.0	1,089,856	2.71	2.57	94,881	90,218

* Figures may not add up because of rounding errors

Figure 1: Mt Fisher Gold Project Location

Figure 2: Mt Fisher Prospect Locations showing recent aircore drilling results

Figure 3: Moray Reef Long Section

Figure 4: Mt Fisher Resource Model

(Colour Legend: Magenta >10 g/tAu, Red 5-10 g/t Au, Orange/Brown 4-5 g/tAu, Green 3-4 g/tAu, Light Blue 2-3 g/tAu, Dark Blue 1- 2 g/tAu, Grey 0.5-1 g/tAu, Black <0.5 g/tAu)

Figure 5: Mt Fisher Mine Long Section

Figure 6: Damsel Resource Model

(Colour Legend: Magenta >10 g/tAu, Red 5-10 g/t Au, Orange/Brown 4-5 g/tAu, Green 3-4 g/tAu, Light Blue 2-3 g/tAu, Dark Blue 1-2 g/tAu, Grey 0.5-1 g/tAu, Black <0.5 g/tAu)

About Rox Resources

Rox Resources Limited is an emerging Australian minerals exploration company. The company has a number of key assets at various levels of development with exposure to gold, nickel, copper and platinum group elements (PGE's), including the Mt Fisher Gold Project (WA), the Fisher East Nickel Project (WA), the Collurabbie Nickel-Copper-PGE Project (WA), and the Bonya Copper Project (NT).

Fisher East Nickel Project (100%)

The Fisher East nickel project is located in the North Eastern Goldfields region of Western Australia and hosts several nickel sulphide deposits. The total project area is ~350km2 , consisting of a ~300km2 area 100% owned by Rox and an Option to purchase area of a further 50km2 of nickel prospective ground.

Discovery of, and drilling at the Camelwood, Cannonball and Musket nickel prospects has defined a JORC 2012 Mineral Resource (ASX:RXL 5 February 2016) of 2.0Mt grading 2.5% Ni reported at 1.5% Ni cut-off (Indicated Mineral Resource: 1.9Mt grading 2.5% Ni, Inferred Mineral Resource: 0.1Mt grading 2.3% Ni) comprising massive and disseminated nickel sulphide mineralisation, and containing 50,600 tonnes of nickel. Higher grade mineralisation is present in all deposits (refer to ASX announcement above) and is still open at depth beneath each deposit. Additional nickel sulphide deposits continue to be discovered (e.g. Sabre) and these will add to the resource base. Exploration is continuing to define further zones of potential nickel sulphide mineralisation.

Mt Fisher Gold Project (100%)

The Mt Fisher gold project is located in the North Eastern Goldfields region of Western Australia, adjacent to the Fisher East nickel project, and hosts several gold deposits. The total project area is ~220km2 , consisting of a ~170km2 area 100% owned by Rox and an Option to purchase area of a further 30km2 of gold prospective ground.

Drilling by Rox has also defined numerous high-grade gold targets and a JORC 2012 Measured, Indicated and Inferred Mineral Resource (ASX:RXL 28 March 2018) of 973,000 tonnes grading 2.75 g/t Au reported at a 0.8 g/tAu cut-off exists for 86,000 ounces of gold (Measured: 171,900 tonnes grading 4.11 g/t Au, Indicated: 204,900 tonnes grading 2.82 g/t Au, Inferred: 596,200 tonnes grading 2.34 g/t Au) aggregated over the Damsel, Moray Reef and Mt Fisher deposits.

Collurabbie Gold-Nickel Project (100%)

The Collurabbie project is located in the highly prospective North Eastern Goldfields region of Western Australia and is prospective for gold and nickel. The project area of 123km2 hosts the Olympia nickel sulphide deposit and a number of other prospects for nickel sulphide mineralisation. A JORC 2012 Inferred Mineral Resource of 573,000t grading 1.63% Ni, 1.19% Cu, 0.082% Co, 1.49g/t Pd, 0.85g/t Pt has been defined at Olympia (ASX:RXL 18 August 2017). The style of nickel sulphide mineralisation is different to that at Fisher East, with a significant copper and PGE component at Collurabbie, and has been compared to the Raglan nickel deposits in Canada (>1Mt contained nickel).

In addition, there is potential for gold mineralisation, with several strong drilling intersections including 2m @ 2.4g/t Au from the Naxos prospect.

Bonya Copper Project (40%)

Rox (40%) has entered into an agreement with Thor Mining PLC to sell its interest in the Bonya project for A$550,000 in Thor shares (29 March 2018). Completion is expected during the June quarter 2018.

Competent Person Statements:

Resource Statements

The information in this report that relates to gold Mineral Resources for the Mt Fisher deposits is based on information compiled by Mr Ian Mulholland BSc (Hons), MSc, FAusIMM, FAIG, FSEG, MAICD, who is a Fellow of The Australasian Institute of Mining and Metallurgy, and a Fellow of the Australian Institute of Geoscientists. Mr Mulholland has sufficient experience which is relevant to the style of mineralisation and type of 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 "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Mulholland is employed full-time by Rox Resources Limited and consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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 nickel Mineral Resources for the Collurabbie project was reported to the ASX on 18 August 2017 (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 18 August 2017, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 18 August 2017 continue to apply and have not materially changed.

Exploration Results

The information in this report that relates to previous Exploration Results, was either prepared and first disclosed under the JORC Code 2004 or under the JORC Code 2012, and has been properly and extensively cross-referenced in the text to the date of original announcement to ASX. In the case of the 2004 JORC Code Exploration Results and Mineral Resources, 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.

Appendix

The following information is provided to comply with the JORC (2012) requirements for the reporting of the mineral resource estimate on tenements E53/1061, M53/009 and M53/127.

Criteria	JORC Code explanation	Commentary
Samplingtechniques		Drilling techniques used were of 5.5" (140 mm)reverse circulation percussion (RC) and x diamond(DD) drillholes at the Mt Fisher mine and Damsel. Thecore size is dominantly NQ size diameter.
		The summary of drilling used in the Mineral Resourcefor;
	Nature and quality of sampling (e.g. cut channels,-random chips, or specific specialised industry-standard measurement tools appropriate to theminerals under investigation, such as down hole-gamma sondes, or handheld XRF instruments, etc).These examples should not be taken as limiting thebroad meaning of sampling.	Moray Reef is 58 RC holes for 4,675m.Mt Fisher mine is 129 RC holes for 7,133m and 29 DDholes for 2215m.Damsel is 21 RC holes for 3225m.The majority of holes were angled to intersect themineralised zones at close to perpendicular aspossible.
		The Moray Reef deposit has been sampled onnominal 20m x 20m grid.
		The Mt Fisher deposit has been sampled on a 40m x80m grid.
		The Damsel deposit has been sampled in a nominal40m by 40m to 80m by 80 m spacing.
	Include reference to measures taken to ensuresamplerepresentivityandtheappropriatecalibration of any measurement tools or systemsused	Rox Drillhole locations were picked up with a DGPSunit with an accuracy of +/- 0.1m. Historical RC andDiamond holes were surveyed by a mine surveyor ona local grid. Several historical drill collars have beenidentified and checked with DGPS. RC samples werecollected by a cone splitter. Diamond core drilling wasloggedforlithology,structure,alterationandmineralisation.The Rox sampling protocols andQAQC are as per industry best practice procedures.
	Aspects of the determination of mineralisation thatare Material to the Public Report. In cases where'industry standard' work has been done this wouldbe relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kgwas pulverised to produce a 30 g charge for fireassay'). In other cases more explanation may berequired, such as where there is coarse gold thathasinherentsamplingproblems.Unusualcommodities or mineralisation types (e.g. submarinenodules) may warrant disclosure of detailedinformation	RC drillholes were sampled on 1m intervals usingcone splitter units. Diamond core is dominantly NQsize, sampled on geological intervals, with a minimumof 0.1 m up to a maximum of 1.5 m. NQ2 core is cutinto half, or quarter for HQ holes. Samples were sentto Intertek Genalysis in Kalgoorlie, crushed to 10mm,dried and pulverised (total prep) in LM5 units (Somesamples > 3kg were split) to produce a sub-sample.The pulps were then sent to Perth for analysis by FireAssay with an AAS finish. Internal laboratory QA usesCRM's, blanks, splits and replicates, along with 10%repeats.
Drillingtechniques	Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc)and details (e.g. core diameter, triple or standardtube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, bywhat method, etc).	Drilling techniques were Reverse Circulation (RC) anddiamond core (DD). The RC hole diameter was140mm face sampling hammer. DD hole diameterwas NQ2 with HQ pre-collar and upper hole portions.

SECTION 1 SAMPLING TECHNIQUES AND DATA

Criteria	JORC Code explanation	Commentary
Drill samplerecovery		RC drill recoveries were very good (>95% estimated);the majority of samples were dry.
	Method of recording and assessing core and chipsample recoveries and results assessed	Diamond drill core recoveries were logged andrecorded. Overall recoveries were >95%, and therewere no significant core loss or recovery problems.
	Measures taken to maximise sample recovery and	Diamond core was laid out in trays and depths weremeasured and checked against marked depths on thecore blocks.
	ensure representative nature of the samples	RC samples were visually checked for recovery,moisture and contamination, and notes made in thelogs.
	Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	Samples used in the Mineral Resource estimate comefrom both RC and historical diamond core drilling,both of which had high recoveries. There is noobservable relationship between recovery and grade,and therefore no sample bias.
Logging	Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.	Detailed geological logging was completed for allholes to a level of detail that is adequate for a MineralResource estimation.
		Detailed geological and geotechnical logs werecarried out on all diamond drill holes for recovery,RQD, structures etc. which included structure type,dip, dip direction, alpha angle, beta angle, texture, fillmaterial, and this data is stored in the database.
	Whether logging is qualitative or quantitative innature.Core(orcostean,channel,etc)photography.	Logging of RC chips records lithology, mineralogy,mineralisation, structure (DD only), weathering,colour, and other sample features. Historical corephotographs are unavailable. Some of the core ispresently stored in metal core trays and has beeninspected for logging quality assurance. RC chips arestored in plastic RC chip trays.
	The total length and percentage of the relevantintersections logged	All holes were logged in full.
Sub-samplingtechniques andsamplepreparation	If core, whether cut or sawn and whether quarter,half or all core taken.	Drill core was cut in half using a core saw. One halfwas selected for assay.
	If non-core, whether riffled, tube sampled, rotarysplit, etc and whether sampled wet or dry.	RC samples were collected on the drill rig using acone splitter. The majority of these samples werecollected dry. Very few of the mineralised sampleswere collected wet, and these were noted in the drilllogs and database.

Criteria	JORC Code explanation	Commentary
	For all sample types, the nature, quality andappropriatenessofthesamplepreparationtechnique.	The sample preparation followed industry bestpractice. This involved oven drying, coarse crushingof diamond core to ~10mm, followed by pulverisationof the entire sample in an LM5 or equivalentpulverising mill to a grind size of 85% passing 75micron.
	Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples.	Field QC procedures involve the use of CertifiedReference Materials (CRM's) as assay standards,along with blanks, duplicates and barren wastesamples.Theinsertionrateofthesewasapproximately 1:20.
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected,includingforinstanceresultsforfieldduplicate/second-half sampling.	No diamond core field duplicates were taken. For RCdrilling field duplicates were taken at an approximate1:40 ratio using the same sampling techniques (i.e.cone splitter) and inserted into the sample run.
	Whether sample sizes are appropriate to the grainsize of the material being sampled.	The sample sizes are considered more than adequateto ensure that there are no particle size effects relatingto the grain size of the mineralisation which lies in thepercentage range.
Quality of assaydata andlaboratory tests	The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.	The analytical technique was a 50gram Fire Assayfollowed by AAS finish (Intertek analysis codeFA50/AA).
	For geophysical tools, spectrometers, handheldXRF instruments, etc, the parameters used indetermining the analysis including instrument makeand model, reading times, calibrations factorsapplied and their derivation, etc.	No geophysical or portable analysis tools were usedto determine any assay values stored in the database.
	Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished.	Internallaboratorycontrolproceduresinvolveduplicate assaying of randomly selected assay pulpsas well as internal laboratory standards. All of thesedata are reported to the Company and analysed forconsistency and any discrepancies.
Verification ofsampling andassaying	The verification of significant intersections by eitherindependent or alternative company personnel.	Senior technical personnel from the Company(Managing Director and Exploration Manager) havevisually inspected mineralisation in drill chips andexisting core samples.
	The use of twinned holes.	One historical drillhole at Moray Reef drilled by Avocawas twinned by Rox with similar results.
	Documentationofprimarydata,dataentryprocedures, data verification, data storage (physicaland electronic) protocols.	Primary data was collected using a standard set ofExcel templates on Toughbook laptop computers inthe field. These data are transferred to an externaldatabase consultant for data verification and loadinginto the database.
	Discuss any adjustment to assay data.	No adjustments or calibrations have been made toany assay data.

Criteria	JORC Code explanation	Commentary
Location of datapoints	Accuracy and quality of surveys used to locatedrillholes (collar and down-hole surveys), trenches,mine workings and other locations used in MineralResource estimation.	Surveying of Rox drillhole collars was undertaken bythe Company using a DGPS unit. Historical drillcollars were surveyed by a licensed surveyor. Severalof these RC and Diamond collars were checked withDGPS.
	Specification of the grid system used.	The grid system is MGA_GDA94, zone 51 for easting,northing and RL. A mine grid was used for historicalMt Fisher mine holes and converted back toMGA_GDA94.
	Quality and adequacy of topographic control.	The topographic surface was generated from drillcollar surveys and also digital terrain modelsgenerated from low level airborne geophysicalsurveys.
Data spacingand distribution		Data spacing is regarded as sufficient to determinethe extent and degree of geological and gradecontinuity for the Mineral Resource estimation.
	Data spacing for reporting of Exploration Results.	The nominal drill hole spacing is;
	---	For the Moray Reef 20 x 20m.For the Mt Fisher Mine 80 x 80m, with some areas infilled to 40 x 40m spacing.For Damsel 40 x 40m and 40 x 20m.
	Whether the data spacing and distribution issufficient to establish the degree of geological andgradecontinuityappropriatefortheMineralResource and Ore Reserve estimation procedure(s)and classifications applied.	The mineralisation and geology showed adequatecontinuity from hole to hole and is sufficient to supportthe definition of a Mineral Resource and theclassifications contained in the JORC Code (2012Edition).
		For RC samples all mineralised zones were sampledat a one metre interval.
	Whether sample compositing has been applied.	No sample compositing has occurred for diamondcore drilling. Sample intervals are based on geologicalboundaries with even one metre samples between.
Orientation ofdata in relationto geological		The Moray Reef deposit strikes at about 355o and dipssteeply to the west to subvertical. The deposit hasbeen drilled at -60otowards both 270o and 090o
structure	Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering the	The Mt Fisher deposit strikes at about 20o degreesand dips towards the east at -50o. Drill orientation wasboth vertical and angled towards 250o
	deposit type.	The Damsel deposit strikes N-S and dips ~-40oto thewest. All RC and DD holes were drilled at between -50o and -60oto the east, designed to intersectmineralisation generally perpendicular.
	If the relationship between the drilling orientationand the orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	No sampling bias is believed to have been introduced.

Criteria	JORC Code explanation	Commentary
Sample security	The measures taken to ensure sample security.	Sample security is managed by the Company. Afterpreparation in the field samples are packed intopolyweave bags and despatched to the laboratory.For a large number of samples these bags weretransported by the Company directly to the assaylaboratory. Insome cases, the samples weredelivered to a transport contractor who then deliveredthe samples to the assay laboratory. The assaylaboratory audits the samples on arrival and reportsany discrepancies back to the Company. Nodiscrepancies were recorded.
Audits orreviews	The results of any audits or reviews of samplingtechniques and data.	A review of the sampling techniques and data wascarried out in house as part of the Mineral Resourceestimate. The database is considered to be ofsufficient quality to support the Mineral Resourceestimate. In addition, from time to time, the Companycarries out its own internal data audits.

SECTION 2 REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
Mineral tenementand land tenurestatus	Type,referencename/number,locationandownership including agreements or material issueswiththirdpartiessuchasjointventures,partnerships,overridingroyalties,nativetitleinterests, historical sites, wilderness or national parkand environmental settings.	Moray Reef is located within Mining Lease M53/009. MtFisher is located within Mining Lease M53/127. Damselis located within Exploration License E53/1061. RoxResources owns 100% of E53/1061, M53/009 andM53/127 which contain the mineral resources.
	The security of the tenure held at the time ofreporting along with any known impediments toobtaining a licence to operate in the area.	The tenements are all in good standing and no knownimpediments exist.
Exploration doneby other parties	Acknowledgment and appraisal of exploration byother parties.	Significant previous exploration has been carried out atall 3 deposits by various companies, including RCdrilling and diamond drilling

Criteria	JORC Code explanation	Commentary
Geology		The geological setting is of a generally north-southtrending Archaean greenstone belt. The belt is acomplex series of refolded tholeiitic to high-magnesiumbasalts with numerous dolerite to gabbroic intrusivesand lesser felsic volcanoclastics, intrusives, interflowsediments and talc chlorite ultramafics. Metamorphismis mid-upper Greenschist.
		Mineralisation at Moray Reef is hosted by a coherentquartz vein bounded by basalt and dolerite.
	Deposit type, geological setting and style ofmineralisation.	Gold mineralisation at Mt Fisher is hosted by a bandedsulfidic chert and BIF which is bounded by tremolitechlorite schist (hanging wall) to the east anddolerite/basalt to the west (footwall). The mineralisationis dipping at about 50oto the east and plungingmoderately southwards beneath the southern end of thepit and is open at depth.
		Gold mineralisation at Damsel is situated within apackage of strongly sheared chlorite-altered maficrocks, in a series of sub- parallel lodes. Mineralisation isdipping about -40oto the west and plunging gently to thenorth.
Drill holeInformation	A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:•easting and northing of the drill hole collar•elevation or RL (Reduced Level –elevation above sea level in metres) of thedrill hole collar•dip and azimuth of the hole•down hole length and interception depth	Refer to drill results tables and the Notes attachedthereto in the text as applicable.
Data aggregationmethods	•hole length.InreportingExplorationResults,weightingaveraging techniques, maximum and/or minimumgrade truncations (e.g. cutting of high grades) andcut-off grades are usually Material and should bestated.	All reported assay intervals have been length weighted.No top cuts were applied. A nominal cut-off of 0.8 g/tAuwas applied with up to 2m of internal dilution allowed inthe low grade zone.Cut-off grades for the boundary outlines were 1.0g/t forMoray Reef and Mt Fisher mine, and 0.5g/t for Damsel.
	Where aggregate intercepts incorporate shortlengths of high grade results and longer lengths oflow grade results, the procedure used for suchaggregation should be stated and some typicalexamples of such aggregations should be shown indetail.	High grade mineralised intervals internal to broaderzones of lower grade mineralisation are reported asincluded intervals.
	The assumptions used for any reporting of metalequivalent values should be clearly stated.	No metal equivalent values have been used or reported.

Criteria	JORC Code explanation	Commentary
Relationshipbetweenmineralisationwidths andintercept lengths	These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width notknown').	Drillholeazimuthsareplannedtointersectmineralisation as close to perpendicular as possible.However reported intercepts will usually be more thantrue width.Gold mineralisation at Moray Reef is sub-vertical andangled RC downhole drill intercepts are significantlylonger than true widths.Mineralisation at Mt Fisher and Damsel is dippingmoderately and angled drillhole intercepts are slightlymore than true widths.
Diagrams	Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	Refer to Figures in text.
Balancedreporting	Where comprehensive reporting of all ExplorationResults is not practicable, representative reportingof both low and high grades and/or widths should bepracticedtoavoidmisleadingreportingofExploration Results.	All results are reported.
Othersubstantiveexploration data	Other exploration data, if meaningful and material,should be reported including (but not limited to):geological observations; geophysical survey results;geochemical survey results; bulk samples – sizeand method of treatment; metallurgical test results;bulk density, groundwater, geotechnical and rockcharacteristics;potentialdeleteriousorcontaminating substances.	No extraordinary data were collected.
Further work	The nature and scale of planned further work (e.g.tests for lateral extensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting the areas of possibleextensions,includingthemaingeologicalinterpretations and future drilling areas, providedthis information is not commercially sensitive	Further work is being planned for extensional RC anddiamond drilling at Damsel and Mt Fisher. The majorityof Moray Reef is measured and no further drilling isplanned at this stage.

SECTION 3 ESTIMATION AND REPORTING OF MINERAL RESOURCES

Criteria	JORC Code explanation	Commentary
Databaseintegrity	Measures taken to ensure that data has not beencorrupted by, for example, transcription or keyingerrors, between its initial collection and its use forMineral Resource estimation purposes.	Data templates with lookup tables and fixed formattingwere used for logging and sampling data recording.Data transfer is via email with a copy sent to both theCompany and the external database consultant.Sample numbers are unique and pre-numbered bagsare used. These procedures minimise any potentialerrors.

Criteria	JORC Code explanation	Commentary
	Data validation procedures used.	Data validation checks are run by Geobase Pty Ltd,and they maintain a "master copy" of the database.The Company uses working copies which areprovided by Geobase on a regular basis.
Site visits	Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.	The competent person, Mr Ian Mulholland, regularlyvisits site during Rox drilling campaigns and alsosupervises drillhole logging.
	If no site visits have been undertaken indicate whythis is the case.	Not applicable.
Geologicalinterpretation	Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.	There is a high degree of confidence in the geologicalmodel of all 3 deposits, based on continuity ofgeological units and mineralisation.
	Nature of the data used and of any assumptionsmade.	Petrography and lithogeochemistry have been used toassist in the identification and characterisation of therock units.
	The effect, if any, of alternative interpretations onMineral Resource estimation.	The geological models are consistent with thedeposits (along strike and down dip/plunge) and noalternative interpretations of geology are plausible.Infill drilling has supported the continuity of thegeological model.
	The use of geology in guiding and controllingMineral Resource estimation.	The key geological control on the Mineral Resourceestimate at Moray Reef is visible quartz veining, andat Mt Fisher and Damsel is the presence of sulfideswithin the continuous geological units.
	The factors affecting continuity both of grade andgeology.	There was good continuity of grade (indicated by asemi-variogram range of 170 metres along the majoraxis), which exceeds the drill spacing, and geology.
Dimensions		The mineralisation at Moray Reef extends over a350m strike length (N-S) 100m down-dip and 1-4mthick. The Mineral Resource begins from 10m belowsurface.
	The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise), planwidth, and depth below surface to the upper andlower limits of the Mineral Resource	At the Mt Fisher mine, the mineralisation extends overabout 200m strike, 100m down-dip and varies inthickness between 2-10m. The Mineral Resourcebegins at the base of the old pit at about 80m belowsurface.
		The Damsel mineralisation extends over 500m strikelength, 100m down-dip, dips gently to the west andplunges gently to the north. The top of the MineralResource is at about 20m below surface.

Criteria	JORC Code explanation	Commentary
Estimation andmodellingtechniques	The nature and appropriateness of the estimationtechnique(s)appliedandkeyassumptions,including treatment of extreme grade values,domaining, interpolation parameters and maximumdistance of extrapolation from data points. If acomputer assisted estimation method was choseninclude a description of computer software andparameters used.	Theestimation technique used was an inversedistance cubed interpolation method, using anellipsoidal search of varying radius depending on thegeostatistical parameters of each mineralised zone.All estimations were undertaken within the Microminesoftware package.
		The mineralisation in each deposit was shown to formonly one population which was generally a log-normaldistribution typical of gold deposits.
		Assays were composited to 1m intervals and top cutsof 80g/t, 50g/t and 30g/t Au (based on log probabilitygraphs) were applied for Moray Reef, Mt Fisher andDamsel respectively.
		One of the deposits, Mt Fisher, was also modelledusing ordinary kriging and the results produced weresimilar to the inverse distance cubed result.
		This is an update of the Mineral Resource estimatepreviously made for the Moray Reef, Mt Fisher andDamsel deposits under JORC 2004 (ASX:RXL 10February 2012).
	The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takesappropriate account of such data.	No previous resource estimates for these zones ofmineralisation had been made, although a previousore reserve estimate of the mined mineralisation atthe Mt Fisher mine was made in 1986 as 250,000tonnes grading 5.3 g/tAu to a vertical depth of 100m,at 1 g/tAu cut-off (Powell et. al., 1990). A high gradecut of 30 g/tAu was made and a bulk density of 2.6t/m3 was used. By the end of 1989 217,705 tonneshad been mined and recovered 22,665 oz of gold byCIP methods (implied recovered grade of 3.24 g/tAu).Reports indicated that mined ROM grade was 4.3g/tAu implying mining dilution of 19% (5.3 g/tAureserve grade to 4.3 g/tAu mined grade) and recoveryof 75% (4.3 g/tAu mined grade to 3.24 g/tAurecovered grade).
	The assumptions made regarding recovery of byproducts.	No recovery assumptions have been built into themodel.
	Estimation of deleterious elements or other nongrade variables of economic significance (e.g.sulphur for acid mine drainage characterisation).	No estimation of elements other than gold was carriedout.

Criteria	JORC Code explanation	Commentary
	In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.	Block sizes at Moray Reef were 1m x 5m x 5m.
		Block sizes at Mt Fisher and Damsel were 10m x 5mx 5m.
		A sub-blocking method was used with 5 sub-blocks inall directions.
		A search ellipse was created for each depositdepending on the known geological trends ofmineralisation and also the geostatistical parametersof the mineralisation. The parameters of the searchellipse for each deposit are;
		At Moray Reef 40m in the major direction, 40m in thesemi-major direction and 5m in the minor directionwith no plunge and a vertical dip.
		At Mt Fisher 90m in the major direction, 65m in thesemi-major direction and 5m in the minor direction,with a plunge of the major axis of -25 degrees to 350degrees azimuth and a dip of -40 degrees to the east.
		At Damsel 100m in the major direction, 25m in thesemi-major direction and 5m in the minor direction,with a plunge of 10 degrees to 180 degrees azimuthand a dip of -45 degrees to the west.
		The nominal drill hole spacing is;
	---	For the Moray Reef 20 x 20m.For the Mt Fisher Mine 80 x 80m, with some areas infilled to 40 x 40m spacing.For Damsel 4 0x 40m and 4 0x 20m.The block size is appropriate for the drill spacing.
	Any assumptions behind modelling of selectivemining units.	No selective mining units were assumed in theestimate.
	Anyassumptionsaboutcorrelationbetweenvariables.	There was no assumed correlation between variables.
	Description of how the geological interpretation wasused to control the resource estimates.	The mineralized zones followed geological units, andguided the resource estimate, but grade continuitywas more important.
	Discussion of basis for using or not using gradecutting or capping.	Statistical analysis showed the populations hadmoderate coefficients of variation (CV). Statisticalanalysis by way of log probability graphs were used todetermine high-grade cuts.
	The process of validation, the checking processused, the comparison of model data to drillhole data,and use of reconciliation data if available.	Model validation included a visual comparison ofblock grades with drill assay sections.
Moisture	Whether the tonnages are estimated on a dry basisor with natural moisture, and the method ofdetermination of the moisture content.	The tonnages are estimated on a dry basis.

Criteria	JORC Code explanation	Commentary
Cut-offparameters	The basis of the adopted cut-off grade(s) or qualityparameters applied	Cut-off parameters were selected based on the priceof gold, and likely mining and processing costs whichwere estimated from published data relating to similaroperations to that envisaged at Mt Fisher. On thisbasis a cut-off of 0.8 g/t Au was chosen for reportingof resources.A nominal grade cut-off of 1.0 g/t Au was used todefine the mineralisation envelope for Moray Reef.For Mt Fisher and Damsel a 0.8g/t cut-off grade wasused.
Mining factors orassumptions	Assumptions made regarding possible miningmethods, minimum mining dimensions and internal(or, if applicable, external) mining dilution. It isalways necessary as part of the process ofdetermining reasonable prospects for eventualeconomic extraction to consider potential miningmethods, but the assumptions made regardingmining methods and parameters when estimatingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the miningassumptions made.	No assumptions regarding the mining methodologyhave been built into the model.
Metallurgicalfactors orassumptions	The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary aspart of the process of determining reasonableprospects for eventual economic extraction toconsider potential metallurgical methods, but theassumptionsregardingmetallurgicaltreatmentprocesses and parameters made when reportingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the metallurgicalassumptions made.	Metallurgical testwork indicates that more thansatisfactory metallurgical recoveries will be possible.Standard direct cyanidation bottle-roll tests achievedexcellent recoveries on Moray Reef and Damsel bulksamples (>95%).Previous mining at Mt Fisher recovered 75% of goldusing the CIP extraction method, which was replicatedby Rox's testwork.
Environmentalfactors orassumptions	Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonableprospectsforeventualeconomicextraction to consider the potential environmentalimpacts of the mining and processing operation.While at this stage the determination of potentialenvironmental impacts, particularly for a greenfieldsproject, may not always be well advanced, the statusofearlyconsiderationofthesepotentialenvironmental impacts should be reported. Wherethese aspects have not been considered this shouldbereportedwithanexplanationoftheenvironmental assumptions made	No assumptions have been made regarding waste orprocess reside disposal.

Criteria	JORC Code explanation	Commentary
Bulk density	Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, themethod used, whether wet or dry, the frequency ofthemeasurements,thenature,sizeandrepresentativeness of the samples.	Average bulk densities of 1.8 t/m3for oxide and 2.2t/m3for transition were assumed based on averagevalues used in the WA Eastern Goldfields, whilemeasured bulk densitiesfor fresh rockweredetermined using the water displacement methodfrom drill core and surface spoil samples as 2.9t/m3for Damsel, 2.85t/m3for Mt Fisher, and 2.7t/m3forMoray Reef.
	The bulk density for bulk material must have beenmeasured by methods that adequately account forvoid spaces (vugs, porosity, etc), moisture anddifferences between rock and alteration zoneswithin the deposit,	Not Applicable
	Discuss assumptions for bulk density estimatesused in the evaluation process of the differentmaterials.	See notes above.
Classification	The basis for the classification of the MineralResources into varying confidence categories	The resources have been classified according to theamount of assay information available to inform theblockinterpolator.Thiswasrelatedtothegeostatistical range of mineralisation as indicated onsemi-variograms. The categories were determinedas follows:Measured:Sufficient data within a distance oftwo-thirds of the semi-variogramrangeIndicated:Sufficient data within a distance ofthe semi-variogram rangeInferred:All blocks with sufficient data beyondthe semi-variogram rangeEssentially this results in the measured categorywhere data is most dense and the inferred categorywhere there is sparse data, and reflects theconfidence in estimating grade for any particularblock.The resources are considered to be suitable forpreliminary mine planning, which upon further drillingand metallurgical test work could result in orereserves being defined.
	Whether appropriate account has been taken of allrelevantfactors(i.e.relativeconfidenceintonnage/grade estimations, reliability of input data,confidence in continuity of geology and metalvalues, quality, quantity and distribution of the data).	Validation of the block model shows acceptablecorrelation of the input data to the estimated grades.The input data is comprehensive and no biases arebelieved to have been introduced. The geologicalmodel has a high degree of continuity and confidence.Infill drilling has confirmed this continuity.
	Whether the result appropriately reflects theCompetent Person's view of the deposit.	The Mineral Resource estimate appropriately reflectsthe view of the Competent Person.

Criteria	JORC Code explanation	Commentary
Audits orreviews	The results of any audits or reviews of MineralResource estimates.	This is an update of the Mineral Resource estimate forMoray Reef, Mt Fisher and Damsel previouslycompleted under JORC 2004. The Resource wasreviewed by Rox personneland an reputableindependent resource consultant.
	Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach or proceduredeemed appropriate by the Competent Person. Forexample,theapplicationofstatisticalorgeostatistical procedures to quantify the relativeaccuracy of the resource within stated confidencelimits, or, if such an approach is not deemedappropriate, a qualitative discussion of the factorsthat could affect the relative accuracy andconfidence of the estimate	The relative accuracy of the Mineral Resourceestimate is reflected in the reporting of the MineralResource as per the guidelines of the JORC Code(2012 Edition). See above note on the classification ofthe Mineral Resource into varying confidencecategories.
	The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshouldincludeassumptionsmadeandtheprocedures used	The statement relates to global estimates of tonnesand grade.
	Thesestatementsofrelativeaccuracyandconfidence of the estimate should be compared withproduction data, where available	No production data is available.