New Geophysical Surveys (IP) at Mt Fisher - Mt Eureka Project Identify Numerous High-Priority Gold Targets

West Australian gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), is pleased to report results from recently completed geophysical Gradient Array Induced Polarisation (GAIP) surveys at its Mt Fisher and Mt Eureka Projects in Western Australia.

• Mt Fisher greenstone belt is one of the most remote and least explored greenstone belts within the gold-prolific Yilgarn Craton
• Past drill intercepts at Mt Fisher of 9m @ 34.34 g/t Au demonstrate the high-grade potential of the belt
• Currently, limited drilling in the Mt Fisher - Mt Eureka corridor has delineated a gold Mineral Resource of 187koz Au within 100km of Strickland Metals’ Milrose Project, which was recently acquired by Northern Star for approximately A$61m.
• Rox holds a dominant tenure position over the Mt Fisher-Mt Eureka belt and has recently conducted a Gradient Array Induced Polarisation (GAIP) survey over the project area
• The geophysical surveys have identified multiple walk-up drill targets, located along strike from known gold mineralised trends that are characterised by high-sulphide content (consistent with the causative geology of GAIP anomalies).
• Rox is progressing opportunities to advance and monetise the highly-prospective Mt Fisher - Mt Eureka Project, given the Company’s priority focus on developing its flagship high- grade Youanmi Gold Project in WA

The 100% Rox Resources owned Mt Fisher Gold Project and the 51% gold rights (rights to earn uo to 75%) Mt Eureka Gold Project are located in the Northern Goldfields, with a gold Mineral Resource of 187koz Au defined within a 1,150km² tenement package that is highly prospective for gold and nickel mineralisation.

Managing Director Comments

Rox Resources’ Managing Director, Mr Robert Ryan, said:

“The geophysical surveys conducted recently at Mt Fisher and Mt Eureka have highlighted a number of walk- up drill targets. The surveys have detected potential sulphide-bearing structures, which could host gold mineralisation as seen elsewhere in the tenement package.

"The 1,150km² tenement package represents a district-scale exploration opportunity for both gold and nickel sulphides, that Rox will continue to advance in order to generate value for our shareholders.”

The 100% Rox Resources owned Mt Fisher Gold Project and the 51% gold rights (rights to earn uo to 75%) Mt Eureka Gold Project are both located in the Northern Goldfields, approximately 500km north of Kalgoorlie (120km east of Wiluna) (Figure 1).

The Projects are at an advanced exploration stage with an existing gold Mineral Resource of 187koz Au defined at Mt Fisher - Mt Eureka and significant exploration upside identified across the broader 1,150km² tenement package.

Rox has completed six Gradient Array Induced Polarisation (GAIP) geophysical surveys at the Mt Fisher and Mt Eureka Projects (Figure 2).

Each of the GAIP surveys were designed to advance the project exploration pipeline by defining potential sulphide-rich chargeability anomalies that represent drill-ready targets along the known gold mineralised trends.

The GAIP survey technique works particulary well at Mt Fisher and Mt Eureka due to the moderate percentages of disseminated sulphide, generally present as pyrite at the known gold deposits and along the mineralised trends within the project areas.

GAIP surveys are also able to cost effectively cover large strike lengths of mineralised trends to identify drill- ready targets for potential gold mineralisation associated with rich zones of disseminated sulphides.

Figure 1: Mt Fisher and Mt Eureka Regional Location Map

Figure 2: Mt Fisher and Mt Eureka Project Map

GAIP survey #1 was completed on E53/1061 within the Damsel Project area (Figure 3), with the survey located at the southern end of the Damsel-Dam gold mineralised trend that hosts the underdrilled Damsel deposit containing 75koz Au, that was last drilled by Rox in December 2021 and July 2022 returning the following drilling results:

• 18m @ 6.99g/t Au from 69m, including 10m @ 10.27g/t Au from 74m;
• 11m @ 2.7g/t Au from 40m, including 4m @ 6.0g/t Au from 45m;
• 5m @ 3.18 g/t Au from 37m and 2m @ 4.64 g/t Au from 70m;
• 8m @ 2.55 g/t Au from 53m, including 5m @ 3.17 g/t Au from 53m; and
• 6m @ 2.84 g/t Au from 142m.

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