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STRATEX INTERNATIONAL - MAIDEN RESOURCE FOR MURATDERE PORPHYRY COPPER-GOLD PROJECT, TURKEY



Stratex International plc / Index: AIM / Epic: STI / Sector: Mining 15 June 2011 Stratex International plc Maiden resource for Muratdere porphyry copper-gold project, Turkey Stratex International plc (Stratex or the Company) announces a maiden assessment prepared in accordance with the guidelines of the JORC Code (2004) for the Muratdere multi-metal porphyry copper-gold project in western Turkey.

The project is being developed through a joint venture with leading Turkish construction company Aydeniz Group (Aydeniz). Highlights
* JORC-compliant Inferred Resource of at least 51 million tonnes grading 0.36% copper (Cu), 0.12 g/t gold (Au), 2.40 g/t silver (Ag), 0.0125% molybdenum (Mo), and 0.34 ppm rhenium (Re) * Total metal contents of 186,000 tonnes Cu, 204,296 oz Au, 3.9 million oz Ag, 6,390 tonnes molybdenum, and 17,594 kg Re * Blanket of supergene-enriched copper present at shallow depth * Resource primarily defined within a 2,000 metre-long section of a 4,000 metre-long porphyry system - main resource remains open along strike and at depth * Metallurgical test work underway and further drilling planned to increase and upgrade initial resource CEO Dr Bob Foster commented, "This maiden JORC-compliant resource has considerably exceeded our expectations and demonstrated the potential for a substantial mineralised porphyry copper system containing multi-element credits of gold, silver, molybdenum, and rhenium that at todays metal prices add very significantly to the potential value of the project.

Since signing the joint venture agreement with Aydeniz in November last year we have had an active work development programme and have completed a total of 27 diamond drill holes for a total of 3,075 metres, the focus being almost entirely on the shallow near-surface part of the system where we anticipated the presence of a zone of copper enrichment related to weathering processes. "Drilling has also focused largely on the central and eastern part of the 4,000 metre-long porphyry system, where our earlier drilling, undertaken in 2007, suggested copper and gold grades were relatively elevated.

The defined Inferred Resource extends over a distance of approximately 2,000 metres but is open-ended to the east and west and at depth, suggesting considerable potential to increase the resource. "The most appropriate way to recover the various metals will be determined by metallurgical test work that is currently being undertaken by mining consultants Wardell Armstrong International.

The flotation-concentrate tests and supporting mineralogical studies are estimated to take three months to complete.

In the meantime we will continue drilling to determine the true lateral extent of the mineralisation and to enable us to upgrade and assign a substantial part of the resource to Indicated and even Measured categories." Further Information The Muratdere prospect is located in western Turkey, approximately 250 km west of Turkeys capital city Ankara.

Previous exploration work in 2006-2007 had confirmed the presence of a mineralised porphyry system extending almost 4,000 metres east-west and 200-500 metres in width.

A limited drilling programme undertaken at that time included a best intersection of 284.7 metres grading 0.30 % Cu, 0.13 g/t Au, and 0.013 % Mo.

(see press release dated 10 October 2007). Following signing of a joint venture agreement with Aydeniz in November 2010 (see press release dated 23 November 2010) drilling commenced almost immediately and interim results were announced on 23 January and 7 March 2011.

The drill programme confirmed the continuity of the mineralisation along strike and at depth and, as a result, Wardell Armstrong International was commissioned to complete a desk-based resource estimation in accordance with JORC guidelines (Table 1).

Statistical analysis of the data, together with evaluation of QA/QC data by Wardell Armstrong indicated that the quality of the work and the analytical data were in accordance with the guidelines of the JORC Code (2004).

Density determinations were undertaken for multiple samples of gold-bearing rock types by the Middle East Technical University, Ankara, using the standard wax-immersion technique, and yielded an average value of 2.61 t/m3. Table 1.

Mineral resource estimate for Muratdere project, completed by Wardell Armstrong International in accordance with the guidelines of the JORC Code (2004) Cut-off grade (% Cu) 0.2 % Cu 0.3 % Cu Inferred Tonnage (million tonnes) 51.117 32.671 Cu (%) 0.36 0.42 Cu metal (thousand tonnes) 186 138 Au (g/t) 0.12 0.13 Au metal (ounces) 204,296 136,763 Ag (g/t) 2.40 2.42 Ag metal (thousand ounces) 3,948 2,544 Mo (ppm) 125 139 Mo metal (tonnes) 6,390 4,532 Re (ppm) 0.34 0.38 Re metal (kilograms) 17,594 12,415 Note that any slight apparent discrepancies between tonnages, grades, and contained metals reflect rounding of grades to two decimal points. Stratexs attributable share of the above resource is 45 %, its partner Aydeniz having earned a 55 % interest.

On completion of a further 3,000 metres of drilling or equivalent expenditure Aydeniz will have earned a 75% interest giving Stratex an attributable interest of 25 %. The resource is mostly confined to a 2,000 metre-long section of the central and eastern part of the porphyry system with a small outlier in the western sector.

The main resource remains open along strike and at depth. The resource is classified as "Inferred" as the drill holes are spaced at least 100 metres apart and down-hole surveys are not available for all drill holes.

Nevertheless the very nature of a porphyry-type body is that it is broadly speaking homogeneous and thus the Directors believe that there is a good degree of confidence in the continuity of the resource and the grade and hence in the estimated tonnages of contained metals. An in-house estimate by Stratex, not yet verified independently, indicates that within the total of 186,000 tonnes of contained copper (at a 0.2 % Cu cut-off) in excess of 20,000 tonnes of copper at a grade of 0.75 % occurs in a near-surface blanket of supergene enriched (oxide) mineralisation.

A further 20,000 tonnes of metal at 0.54 % Cu is contained in mixed supergene and transition material.

Whilst further drilling is required to confirm these tonnages, there is the possibility that such enriched "oxide copper" could be recovered by leaching, which, if confirmed, could support the rapid development of a modest scale oxide-copper operation. The extent to which the deposit and the various contained metals can be exploited economically will depend critically on the mineralogy of the mineralised material and the responses of the different kinds of metal-bearing materials to mineral processing techniques.

Bulk samples of supergene-enriched material, mixed supergene + transition material, and hypogene (sulphide) material have been submitted to UK-based Wardell Armstrong International for metallurgical test work, with the initial emphasis on preparation of copper-rich sulphide concentrates and accompanying mineralogical studies.

This work should be completed by the end of July 2011. Since November 2010, Aydeniz has funded the drilling programme and in turn it has vested 55% of the project and has indicated that it intends to complete further funding for the metallurgical test work, additional drilling, and other work to vest at 75%.

This also triggers payment of two tranches of US$250,000 to Stratex; the first is due by the end of July and the second on Aydeniz vesting at 75%.

Thereafter both parties have the right to contribute or dilute on standard industry terms. Glossary of Technical Terms
"Ag" "Au" "Cu"
chemical symbol for silver chemical symbol for gold chemical symbol for copper
"cut-off"
"flotation" "concentrate"
the lowest grade value that is included in a resource statement.

It must comply with JORC requirement 19: "reasonable prospects for eventual economic extraction" the lowest grade, or quality, of mineralised material that qualifies as economically mineable and available in a given deposit.

It may be defined on the basis of economic evaluation, or on physical or chemical attributes that define an acceptable product specification
a selective concentration of minerals generated by a froth flotation process
"g/t"
"hypogene"
grammes per tonne, equivalent to parts per million (ppm)
material below the limit of weathering processes and, in the case of Muratdere, likely to contain metals in combination with sulphur as metal-bearing sulphide minerals
"Inferred Resource"
that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence.

It is inferred from geological evidence and assumed but not verified geological and/or grade continuity.

It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability
"Indicated Resource"
that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence.

It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed
"JORC"
the Australasian Joint Ore Reserves Committee Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2004 (the "JORC Code" or "the Code").

The Code sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves
"Measured Resource"
"Mineral Resource"
"Mo"
A measured Mineral Resource is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence.

It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

The locations are spaced closely enough to confirm geological and grade continuity
a concentration or occurrence of material of intrinsic economic interest in or on the Earths crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction.

The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.

Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories when reporting under JORC
chemical symbol for molybdenum
"oxide zone"
weathered rock occurring at or close to the Earths surface
"oz" "porphyry"
"Re" "supergene" "sulphide gold"
"sulphide zone"
troy ounce (= 31.1035 grammes) an igneous rock in which relatively large crystals (phenocrysts) constitute 25% or more of the volume and are set in a fine-grained ground mass.

Can also be used in conjunction with a mineral/metal name where the rock is rich in that component, e.g.

copper porphyry chemical symbol for rhenium physical and chemical processes associated with weathering gold mineralisation occurring within the "sulphide zone", often locked within sulphide crystal structure un-weathered rock occurring below the "oxide zone" and containing metal-sulphide minerals
"t" "transition"
tonne (= 1 million grammes) material that has been only partially altered by weathering processes and usually marking a downward transition into material that has not been affected by weathering processes
Sampling, assaying, and QA/QC Stratexs sampling of drill core and outcropping rocks conforms to industry-wide good practice, with drill core being split using a diamond saw, and with chain of custody being observed for all samples.

Analysis is undertaken by ALS Chemex at its laboratories in Vancouver, Canada, and Romania, and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses. CEO Dr.

Bob Foster, FIMM, CEng, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information. ** ENDS * * For further information please visit www.stratexinternational.com, email , or contact: Bob Foster / Claire Palmer Stratex International Plc Tel: +44 (0) 20 7830 9650 Martin Davison / Richard Baty Westhouse Securities Limited Tel: +44 (0) 20 7601 6100 Felicity Edwards / Elisabeth Cowell St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Notes to editors: Stratex International Plc is an AIM-quoted exploration and development company focussing on gold and base metal opportunities in Turkey, Ethiopia and Djibouti. Turkey Portfolio In Turkey, Stratexs prime objective is to move into gold production through its partnership with its Turkish partner NTF, with initial production targeted at its Inlice project by H1 2012 and at Alt�ntepe by 2013, subject to outcome of scoping and feasibility studies.

The Company also remains focussed on discovering and developing new projects through low-cost exploration, adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company. * Total resources stand at 1.31 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver, on a JV-inclusive basis * Partnership with NTF, a technically capable and well-financed Turkish company, to rapidly develop the 542,318 oz oxide gold resources present at the Inlice and Alt�ntepe projects * An option/joint venture agreement with Centerra Exploration B.V., a wholly owned subsidiary of Centerra Gold Inc., to explore and develop the �ks�t project, a high-sulphidation gold discovery located in Central Anatolia * An option/joint venture agreement over the Hasancelebi project, a high-sulphidation gold project in central Turkey with Teck Madencilik Sanayi Ticaret A.S., a Turkish subsidiary of Teck Resources Limited of Canada, a major shareholder in Stratex * An option/joint venture agreement with private Turkish company Aydeniz Group to explore and develop the Muratdere porphyry copper-gold-molybdenum deposit in western Turkey Stratex East Africa Ltd (SEA) - Ethiopia and Djibouti Portfolio * 4.93% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc (Sheba) * A joint venture with Sheba to (i) earn-in to an initial 60% of the prospective 37 sq km Shehagne gold project in Ethiopia, and (ii) explore targets in northern Ethiopia on a 70:30 joint venture basis * Berahale and Gademsa EELs cover a combined area of 1,225 sq km in northern and central Ethiopia respectively and are prospective for gold and base metals * 3,853 sq km land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti * Stratex International has signed a binding Heads of Agreement with Thani Ashanti, an AngloGold Ashanti Limited joint venture company, to fast-track development of first 11 prospects identified within the Afar Depression (collectively the Afar Project).

Thani Ashanti can earn 51% of the Afar Project by spending US$3 million on exploration and development over two years.
Elisabeth Cowell St Brides Media & Finance Ltd Chaucer House 38 Bow Lane London EC4M 9AY T: +44 (0) 207 236 1177 | M: +44 (0) 7900 248 213 | F: +44 (0) 207 236 1188 | www.sbmf.co.uk



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