🕐12.12.11 - 09:27 Uhr

STRATEX - NEW PARTNER BUYS INTO MURATDERE PORPHYRY COPPER PROJECT IN TURKEY



Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 12 December 2011 Stratex International Plc - Turkey Update New Partner Buys into Muratdere Porphyry Copper Project in Turkey and Positive Metallurgical Test Results Stratex International plc (Stratex or the Company), the AIM-quoted exploration and development company in Turkey and Africa, is pleased to announce that it has signed a Heads of Agreement (the Agreement) with a leading private Turkish financial institution and investment company (InvestCo), to enter into a joint venture to develop the Muratdere porphyry copper-gold project in Turkey (Muratdere or the Project).

The Agreement is conditional upon satisfactory due diligence being undertaken by InvestCo which has asked for its identity not to be disclosed until the final Agreement is concluded. Overview * Stratex has resumed 100% interest in Muratdere following withdrawal of previous partner * New partner InvestCo to acquire 51% of project for US$1.7 million, subject to due diligence � Option to increase interest to 61% for US$500,000 and 3,000 metres of diamond drilling � Further option to increase to 70% by funding feasibility study � Metallurgical test work confirms potential to produce saleable grade floatation concentrates (>24% contained copper) Stratexs CEO Bob Foster said, "We are delighted to have secured a new partner for the development of our Muratdere copper porphyry project.

InvestCo is a well-funded private financial institution and investment company with a proven track record of raising substantial funds and is actively focussing on using its technical and financial strengths to develop mining projects, with a particular focus on copper.

InvestCo shares our belief that Muratdere now shows potential for successful economic development, which is enhanced by the presence of potentially valuable co-product metals, particularly gold and molybdenum.

We are encouraged by the positive results of the metallurgical testwork on a range of single and composite samples of different ore types demonstrating that saleable concentrates can be produced from this exciting multi-element project." Detailed Information The Agreement InvestCo, a successful Turkish investment banking company, has requested that its identity is not disclosed until successful completion of its due diligence.

It has signed a Heads of Agreement with Stratexs 100%-owned Turkish subsidiary company Stratex Madencilik Sinayi ve Ticaret Ltd Sti (Stratex Madencilik) to act as a joint-venture partner on the Muratdere porphyry copper project.

The terms of the Agreement, subject to a three-month due diligence period (which may be extended to four months in exceptional circumstances) are as follows:
� Payment of US$1.7 million to Stratex to acquire 51% of the Project � InvestCo may acquire a further 10% by making a cash payment to Stratex of US$500,000 and completing and funding a further 3,000 metres of diamond drilling within 15 months of acquiring the 51% of the Project � Thereafter InvestCo can acquire a further 9%, for a total of 70%, by funding a comprehensive feasibility study to be completed within a further twelve months � Subsequent to InvestCo vesting at 70% all subsequent costs to be shared pro rata by InvestCo and Stratex Madencilik � In the event that either Party does not contribute, its equity interest will be reduced according to a standard contribute-or-dilute formula as defined by expenditures � In the event that a Partys equity interest falls below 10% its interest shall be converted to a 1.5% Net Smelter Returns royalty Metallurgical test work On 15 June 2011, Stratex announced an initial Inferred JORC-compliant Resource of 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).

These grades equate to 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. The resource has been primarily defined within a 2,000 metre-long section of a 4,000 metre-long porphyry system and remains open along strike and at depth. The upper part of the porphyry is oxidised and there is evidence of a blanket of supergene-enriched copper present at shallow depth.

This is underlain by a transition zone composed of mixed oxide and partially oxidised sulphide material which passes into the underlying unoxidised sulphide material. Metallurgical test work has been undertaken by UK-based consultancy Wardell Armstrong International (WAI) on five types of material, including two composite (blended) samples. The results indicate that saleable copper concentrate grades (>24% Cu) could be produced from all but the unoxidised sulphide material, which returned slightly less than 22% Cu at a recovery of just below 84%.

WAI believes that concentrate grades could be increased to over 24% by flowsheet improvements, which is encouraging given the potentially large scale of unoxidised sulphide material within the porphyry body. For more information on the Muratdere project, please visit: http://www.stratexinternational.com/operations/exploration/turkey/muratdere.aspx * * ENDS * * For further information please visit www.stratexinternational.com, email , or contact: Stratex International Plc Tel: +44 (0)20 7830 9650
Bob Foster / Claire Bay
Grant Thornton Corporate Finance Tel: +44 (0)20 7383 5100 Gerry Beaney / Melanie Frean
Northland Capital Partners Limited Tel: +44 (0)20 7796 8800 Gavin Burnell / Tim Metcalfe Charles Vaughan (Sales)
St Brides Media & Finance Limited Tel: +44 (0)20 7236 1177 Felicity Edwards / Elisabeth Cowell
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, and West Africa. Stratex - Turkey Portfolio In Turkey, Stratex is moving to gold production at the Inlice project through its partnership with its Turkish partner NTF.

Alt�ntepe is also targeted to go into production through a joint venture with Turkish partner Bahar Madencilik, subject to outcome of an Environmental Impact Study (EIS) and technical 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 1.53 million oz of gold (combined oxide and sulphide gold) and approximately 7.1 million oz of silver, on a global resource basis * Partnership with NTF, a technically capable Turkish company, to rapidly develop the 59,600 oz gold reserve at the Inlice project * 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 * A further option/joint venture agreement with Centerra Exploration B.V.

to explore the multiple high-sulphidation alteration zones of the Altunhisar project 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 * Exploration agreement with Antofagasta to explore Turkey for porphyry copper and other copper deposit-types that will be vested into an established JV
Stratex East Africa Ltd (SEA) - Ethiopia and Djibouti Portfolio
* A joint venture with Centamin Egypt Limited (which recently acquired Sheba Exploration (UK) plc) 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 * Multiple low-sulphidation vein systems recently discovered in the Blackrock EEL with bonanza gold values up to 34.6 g/t Au and 60.4 g/t in outcrop * 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.

Recent results from the scout drilling programme at Megenta have confirmed epithermal gold mineralization Stratex interest in West Africa
� Stratex has made a recommended offer for recommended offer (the Offer) to acquire the entire issued share capital of Silvrex Limited (Silvrex).

Silvrex is a private company incorporated in the UK with a prospective gold portfolio in Senegal and Mauritania (press release dated 2 December 2011)
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