results confirm nickel discovery, page-2

ASSAY RESULTS CONFIRM NICKEL DISCOVERY
Highlights
? Nickel assays confirm generally higher grades and thicker intersections than previously reported portable XRF analyses
? Thickest intersection of 20 metres grading 1.1% Ni in hole MFEC004, included 6 metres grading 1.4% Ni and 5 metres grading 1.5% Ni
? Other highlights include:
o 2 metres grading 1.6% Ni in hole MFEC001
o 4 metres grading 2.0% Ni in hole MFEC002
o 2 metres grading 2.2% Ni in hole MFEC003
o 6 metres grading 1.4% Ni in hole MFEC004, and
o 1 metre grading 3.0% Ni in hole MFEC005
? Camelwood prospect tested over 300m strike length and 200m depth, and still open in all directions
? Preliminary mineralogical examination indicates supergene nickel sulphide mineralisation
Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that assays from RC drilling at its Fisher East nickel sulphide discovery, which forms part of the Mt Fisher project 450km north of Kalgoorlie in Western Australia (Figure 1), have confirmed the previous portable XRF analyses and returned generally higher grade and thicker nickel intercepts than previously logged.
RC drilling by Rox in December 2012 intersected nickel-bearing semi-massive and strongly disseminated sulphides in all five holes drilled at the Camelwood prospect, covering a strike length of 300m and up to 200m vertical depth. The system is open in all directions (Figures 2 & 3).
Managing director Ian Mulholland said, “These results confirm a significant new nickel sulphide discovery at Fisher East, which we believe has the potential to be a very large system. We will be following up these results quickly with more drilling and EM surveys to identify new conductors on our tenements.”
Best assays are shown below with full drill data in Table 1 (see also Appendix). The laboratory assays have returned higher grade and thicker intersections than those initially indicated by the field based portable XRF analyses (with the exception of MFEC005).
ROX RESOURCES LIMITED – ASX RELEASE
14 January 2013
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MFEC001: 3m @ 1.3% Ni, including 2m @ 1.6% Ni from 130m
MFEC002: 4m @ 2.0% Ni from 212m
MFEC003: 3m @ 1.7% Ni, including 2m @ 2.2% Ni from 152m
MFEC004: 20m @ 1.1% Ni from 159m, including 6m @ 1.4% Ni from 159m and 5m @ 1.5% Ni from 169m
MFEC005: 1m @ 3.0% Ni from 147m
The increase in grade and thickness from hole MFEC001 to hole MFEC002 which is below MFEC001 (Figure 4) is encouraging, as is the wide intercept in hole MFEC004, with two zones of strong mineralisation.
Reference to Figure 3 shows that only the top part of the system is interpreted to have been drilled at this stage.
Mineralogical work on a single sample from hole MFEC005 indicates relatively coarse-grained supergene (partially oxidised) nickel sulphide mineralisation, with violarite (FeNi2S4) and pyrite (FeS2) the dominant minerals, and subordinate magnetite (Fe3O4) and chalcopyrite (CuFeS2) (see Figure 6). Violarite is usually the supergene product of pentlandite ((Fe,Ni)9S8) which is expected to occur deeper in the system.
Arsenic (As) and antimony (Sb) (both potential deleterious elements) levels are low. Platinum Group Elements (PGE’s) have yet to be determined.
The Company will now commence the next stage of exploration which will include further ground electro-magnetic (EM) surveys and deeper