ROX RESOURCES LIMITED — Regulatory Filings 2021

Oct 26, 2021

==> picture [720 x 80] intentionally omitted <==

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

ASX:RXL
----- End of picture text -----

Alex Passmore | Managing Director

1

==> picture [720 x 80] intentionally omitted <==

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

Disclaimers
----- End of picture text -----

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 to 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.

Competent Person Statements

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.

Resource Statements

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, amongst others, the risk of adverse or unanticipated market, financial or political developments.

The information in this report that relates to gold Mineral Resources for the Youanmi Gold project was reported to the ASX on 23 June 2021 (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 23 June 2021, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 23 June 2021 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 11 July 2018 (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 11 July 2018, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 11 July 2018 continue to apply and have not materially changed.

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.

2

==> picture [720 x 80] intentionally omitted <==

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

Investment Highlights
----- End of picture text -----

Quality high grade resource at flagship project, Youanmi (1.7Moz at 2.85 g/t)[(1)]

Strong potential for resource growth

Feasibility studies commenced into restart of Youanmi Mt Fisher - Mt Eureka Project, renewed focus with VMS prospectivity identified Attractive entry price ($40 per attributable resource ounce)

Cornerstone investment by Hawkes Point

Notes:

• (1) Refer ASX announcement 23 June 2021

3

==> picture [720 x 80] intentionally omitted <==

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

Near-term Strategy
----- End of picture text -----

“ Active exploration company, progressing studies with near term cash flow opportunities”

Active Exploration

• Near Mine Resource Growth

• Regional Youanmi

• Mt Fisher - Mt Eureka Project

Studies

• Production - potential restart

• Early cash flow opportunities  Existing mine with pits & decline

==> picture [161 x 82] intentionally omitted <==

4

==> picture [720 x 80] intentionally omitted <==

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

Corporate Information
----- End of picture text -----

==> picture [704 x 288] intentionally omitted <==

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

About Rox Resources
Shareholders
Rox Resources Limited (ASX:RXL) is a West Australian focused
gold exploration and development Company. It is 70% owner
and operator of the historic Youanmi Gold Project near Mt 13% 2% Hawke's Point 13%
Magnet, approximately 480 kilometres northeast of Perth, and
wholly owns the Mt Fisher Gold Project approximately 140 Directors & Management 2%
kilometres southwest of Wiluna.
Retail & Other 85%
85%
Top 20 Holders 27%
Capital Structure
ASX Code RXL Top 70 Holders 41%
Shares on Issue 157.6M
RXL Share Price History
Share Price A$0.38
$1.25
Unlisted Options 21.1M
$1.00
Market Capitalisation $60M
$0.75
Cash (as at 30 September 2021) $10.7M
$0.50
Debt Nil $0.25
$0.00
Jul 17 Jan 18 Jul 18 Jan 19 Jul 19 Jan 20 Jul 20 Jan 21 Jul 21
----- End of picture text -----

5

==> picture [720 x 80] intentionally omitted <==

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

Experienced Team
----- End of picture text -----

Board

==> picture [684 x 10] intentionally omitted <==

==> picture [80 x 119] intentionally omitted <==

Stephen Dennis Non-Executive Chairman

==> picture [80 x 119] intentionally omitted <==

Alex Passmore Managing Director

==> picture [80 x 119] intentionally omitted <==

John Mair Non-Executive Director

Management

==> picture [80 x 120] intentionally omitted <==

Chris Hunt Chief Financial Officer

==> picture [81 x 120] intentionally omitted <==

Matthew Antill General Manager Operations

==> picture [81 x 120] intentionally omitted <==

Gregor Bennett Exploration Manager

6

==> picture [720 x 332] intentionally omitted <==

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

Comparable Gold Explorers [(1), (2), (3)]
350 3.50
300 3.00
M&I
46%
250 2.50
200 M&I 2.00
43%
150 M&I 1.50
M&I
74%
20%
100 1.00
M&I M&I
57% 48% M&I
M&I
50 44% 72% 0.50
0 0.00
Musgrave Degrey Alto Metals Apollo Breaker Resources Black Cat Rox Resources Horizon Gold
Notes:
Consolidated
1. Enterprise value calculated as follows:
Grade (g/t Au)
EV/attributable resource ounce (A$)
----- End of picture text -----

• closing share prices for all entities as at 18 October 2021

• cash and debt balances as at 30 June 2021, sourced from respective Quarterly Reports

2. Resources are sourced from the most recent ASX announcements from each entity 3. Each entity is considered comparable to Rox Resources Limited stage which is exploration and scoping study phase

7

==> picture [720 x 80] intentionally omitted <==

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

Youanmi Gold Project
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

Notes:

Rox holds a 70% interest in the Youanmi Gold Mine (OYG Joint Venture). It is the manager of the JV.

Previously produced 670,000 ounces at 5.4g/t Au; closure in 1997 when gold price was A$400/oz – A$450/oz

Last parcel of ore mined underground at Youanmi (November 1997) was at 14.6g/t Au grade

Existing decline in place – to about 600 metres below ground

Quality, high-grade resource recently announced (1.7Moz at 2.85 g/t)[(1)]

==> picture [150 x 256] intentionally omitted <==

Mine Area

(1) Refer ASX announcement 23 June 2021

8

==> picture [720 x 80] intentionally omitted <==

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

Mineral Resource - June 2021
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

	Area ClassificationCut-Off Youanmi Resources Remaining June 2021	Area ClassificationCut-Off Youanmi Resources Remaining June 2021	Area ClassificationCut-Off Youanmi Resources Remaining June 2021	Tonnes	**Au Grade **	Au Metal	Change in Au Metal	Previously Tonnes	(Widenbar **Au Grade **	2018) Au Metal
				(dmt)	(g/t)	(oz)	(%)	(dmt)	(g/t)	(oz)
	Near Surface Deeps	Indicated Indicated	0.5 g/t* 4.0 g/t	7,470,000 1,097,000	1.81 8.23	434,000 290,200	up 63% up 38%	4,720,000 808,000	1.76 8.1	266,200 210,200
	SubTotal	Indicated		8,567,000	2.63	724,200	up 52%	5,528,000	2.68	476,400
	Near Surface	Inferred	0.5 g/t*	7,240,000	1.57	366,000	up 37%	5,360,000	1.55	266,500
	Deeps SubTotal	Inferred Inferred	4.0 g/t	2,279,000 9,519,000	7.73 3.05	566,200 932,200	up 26% up 31%	1,605,000 6,965,000	8.7 3.19	447,700 714,200
	Near Surface	Ind + Inf	0.5 g/t*	14,710,000	1.69	800,000	up 50%	10,070,000	1.65	532,700
	Deeps	Ind + Inf	4.0 g/t	3,377,000	7.89	856,300	up 30%	2,413,000	8.48	657,900
	Near Surface + Deeps Ind + Inf			18,087,000	2.85	1,656,300	up 39%	12,483,000	2.97	1,190,600

Youanmi Total Mineral Resources increased by 466 koz (+39%) to 1,656 koz of contained gold (Au). Junction and Link mineralisation to be incorporated in later models.

$16 per ounce discovery cost for this addition to the resource, well below industry averages.

Grace Maiden Resource defined to contain 109koz of contained gold at 7 g/t Au with upside potential remaining.

==> picture [391 x 179] intentionally omitted <==

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

* Grace 1.5 g/t Cutoff
Tonnes (000 t) Contained Au Metal (koz)
20,000 1,800
18,000 1,600
16,000 1,400
14,000 Inferred 1,200 Inferred
12,000
1,000
10,000
Inferred 800 Inferred
8,000
600
6,000
4,000 Indicated 400 Indicated
2,000 Indicated 200 Indicated
0 0
2018 2021 2018 2021
Note
• Refer ASX Announcements dated 17 April 2019 and 23 June 2021 for full details of Youanmi
mineral resources 9
----- End of picture text -----

Near Surface Resource increased by 50% to 800koz Au in total.

Deeps Resource shows impressive growth (+30%) to 856koz Au with high grades preserved (7.9g/t Au resource average)

Increase in Au metal ounces per vertical metre for Youanmi Deeps over key potential mining depths

==> picture [720 x 80] intentionally omitted <==

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

Resource Observations
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

Resources start from surface and in many cases do not require a pit cutback (Grace, Plant Zone, Hill End)

Opportunity for a high grade starter pit (Grace, and potentially Hill End) followed by a high grade underground (using 1990’s decline as a starting point) Parallel lodes in the hanging wall a key growth opportunity and adds ounces per vertical metre (lower capital to access) Longer term – larger scale open pit expansion opportunity

Exploration is ongoing with Resource growth likely to continue

==> picture [393 x 300] intentionally omitted <==

10

==> picture [720 x 80] intentionally omitted <==

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

Infrastructure
----- End of picture text -----

The Youanmi Project includes a developed underground mine (dewatering required) and surface infrastructure including:

Midwest Pipeline & Road Infrastructure

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

• Access roads (sealed roads 90km from mine gate) Airstrip

• Core shed and workshop

• Borefield

• Tailings disposal facility

• Mine offices

• Spur line to Mount Magnet has a 4.1TJ/D capacity (APA Group)

• State road network established to/through Youanmi. Sealed road to 90 km from Youanmi Site

• Close to mining service towns

• Very good state roads accessing the site

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

• Process water available from local aquifers Mine village - well equipped for exploration crews.

Youanmi Camp

With a history of mining Youanmi is classified as a disturbed site and is on existing mining leases

==> picture [10 x 10] intentionally omitted <==

• Environmental approvals for development a straightforward process

==> picture [10 x 10] intentionally omitted <==

• Well understood mining considerations (wall stability, angles etc.)

11

==> picture [720 x 80] intentionally omitted <==

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

Progress to date
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

More than 50,000 metres of drilling in the past 18 months

Substantial 39% increase in resource to 18.1M tonnes @

2.85g/t Au for 1.7 million ounces[(1)]

Low discovery cost of just $16 per resource ounce, well below industry averages

Cash injection from major international funds manager Hawke’s Point (A$11m)

Youanmi Gold Project

==> picture [330 x 186] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

Experienced management team appointed

==> picture [10 x 10] intentionally omitted <==

Commenced feasibility studies into Youanmi restart

Notes

(1) Refer ASX Announcements dated 17 April 2019 and 23 June 2021 See Appendix 1 for full resource details

12

==> picture [720 x 80] intentionally omitted <==

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

Resource Growth to Continue
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

Multiple drill rigs working on near mine extension drilling at Youanmi

Targeting the intersection of north-west trending mafic rocks

and north-south accommodation structures

Resource growth momentum building with recent positive results

Adding mineable ounces near existing infrastructure

==> picture [10 x 10] intentionally omitted <==

Link Prospect; and Junction Prospect

==> picture [10 x 10] intentionally omitted <==

==> picture [420 x 292] intentionally omitted <==

Link target area long section (ASX: 19 October 2021)

13

==> picture [720 x 80] intentionally omitted <==

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

Regional Targets - Upside
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

• 424 holes, 22,337m Aircore drilling program recently completed on Youanmi Regional JV tenements. Assays remain pending for all holes

• Program targets an 18.5km long highly-prospective greenstone corridor between the Youanmi and Penny deposits

• 4 high-priority target areas identified from recently completed data review

• I. Numerous demagnetised zones representing alteration and seven HTDEM conductors associated with major WNW subsidiary structures

• II. 9 HTDEM conductors and numerous demagnetised zones associated with multiple WNW structures. Low-level Au anomalism present in historic shallow RAB drilling.

• III. 8 HTDEM conductors and numerous demagnetised zones within the Penny Shear corridor and subsidiary structures.

• IV. Untested granite-greenstone contact and major WNW structure proximal to Penny West.

Targets are new / not tested by historic drilling (shallow RAB)

==> picture [224 x 317] intentionally omitted <==

14

==> picture [720 x 80] intentionally omitted <==

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

Youanmi - Next Steps
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

Feasibility Studies into optimal production scenarios including:

• Metallurgical test work;

• Processing plant design;

• Pit optimisation;

• Dewatering and geotechnical studies;

• Waste rock characterisation; and

• Environmental baseline testing

==> picture [10 x 11] intentionally omitted <==

Focussed on growing the resource base and progressing feasibility studies with the aim of restarting production at the Youanmi gold mine

==> picture [10 x 10] intentionally omitted <==

In parallel undertaking extensive regional and near-mine drilling in parallel with these studies – resource growth is expected to continue

==> picture [10 x 11] intentionally omitted <==

Exploring for Penny West style deposits regionally with Rox managing our regional JVs

• Target reviews have identified compelling regional anomalies

• 22,337m of Aircore drilling completed, assays remain pending

15

==> picture [720 x 80] intentionally omitted <==

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

Mt Fisher - Mt Eureka
----- End of picture text -----

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

Following the demerger of its nickel assets, Rox has a renewed focus on targeting orogenic gold mineralisation and strata-bound VMS style mineralisation VMS prospectivity identified through extensive project review

Planned immediate work programs: 160 holes, 7,000 metre Aircore drilling program commenced at Mt Fisher Gold Project; RC program circa 4,000 metres to commence mid November 2021; and High resolution airborne magnetic survey to commence late November 2021.

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [347 x 242] intentionally omitted <==

Long-section of the Mt Fisher Mine displaying downhole gold grades and modelled EM conductor plates (ASX: 26 October 2021)

16

==> picture [720 x 80] intentionally omitted <==

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

Investment Highlights
----- End of picture text -----

Quality high grade resource at flagship project, Youanmi (1.7Moz at 2.85 g/t)[(1)]

Strong potential for resource growth

Feasibility studies commenced into restart of Youanmi Mt Fisher - Mt Eureka Project, renewed focus with VMS prospectivity identified Attractive entry price ($40 per attributable resource ounce) Cornerstone investment by Hawkes Point

Notes:

• (1) Refer ASX announcement 23 June 2021

17

==> picture [720 x 80] intentionally omitted <==

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

Appendix 1 – Youanmi Mineral Resources
----- End of picture text -----

Youanmi Resources Remaining June 2021 (ASX:RXL 23 June 2021)

Area	Classification	Cut-off (g/t)	Tonnes (dmt)	Au Grade (g/t)	Au Metal (oz)
Near Surface	Indicated	0.5*	7,470,000	1.81	434,000
Deeps	Indicated	4.0	1,097,000	8.23	290,200
Sub-total	Indicated		8,567,000	2.63	724,200
Near Surface	Inferred	0.5*	7,240,000	1.57	366,000
Deeps	Inferred	4.0	2,279,000	7.73	566,200
Sub-total	Inferred		9,519,000	3.05	932,200
Near Surface	Ind + Inf	0.5*	14,710,000	1.69	800,000
Deeps	Ind + Inf	4.0	3,377,000	7.89	856,300
Total	Ind + Inf		18,087,000	2.85	1,656,300

Notes

* Grace 1.5 g/t cutoff

The information in this report that relates to gold Mineral Resources for the Youanmi Gold project was reported to the ASX on 23 June 2021 (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 23 June 2021, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 23 June 2021 continue to apply and have not materially changed.

The ASX release can be viewed at https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02387031 . Rox is of the view that as the resource estimate is JORC 2012 compliant, was prepared in the last 12 months, indicates the Modifying factors which remain relevant, and the estimate was prepared by well-known and industry respected Competent Persons for the Youanmi Near Surface Deposits and Youanmi Deeps Mineral Resource, the Mineral Resource estimate can be relied upon.

18

==> picture [720 x 80] intentionally omitted <==

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

Appendix 2 - Mt Fisher Gold Mineral Resources
----- End of picture text -----

Mt Fisher Gold (ASX:RXL 11 July 2018)

Deposit	Category	Tonnes	Grade (g/t Au)	Gold (oz)
Moray Reef	Measured	25,521	8.02	6,577
	Indicated	4,930	5.95	943
	Inferred	1,242	3.87	155
	Total	31,693	7.53	7,675
Mt Fisher	Measured	125,605	3.61	14,569
	Indicated	59,533	3.63	6,948
	Inferred	40,934	3.41	4,494
	Total	226,073	3.58	26,011
Damsel	Measured	23,712	2.59	1,974
	Indicated	151,464	2.27	11,060
	Inferred	591,820	2.23	42,339
	Total	766,697	2.25	55,373
TOTAL	Measured	174,838	4.11	23,121
	Indicated	215,928	2.73	18,951
	Inferred	633,997	2.31	46,987
	Total	1,024,762	2.70	89,059

0.8 g/tAu block cut-off grade. Values may not sum due to rounding.

19

==> picture [720 x 80] intentionally omitted <==

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

ASX:RXL
----- End of picture text -----

W: www.roxresources.com.au

20