Exclusive $14.8M Agreement for Reward Zinc Project

Exclusive $14.8M Agreement for Reward Zinc Project

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  • July 19, 2016

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that IMI Zinc Exploration Pty Ltd (“IZE”), a wholly owned subsidiary of IM Medical Limited (ASX: IMI) (“IMI“), has today made an offer to acquire Rox’s interest in the Reward zinc-lead project in the Northern Territory (Figure 1) (“Offer“).

Subject to Rox entering into an Exclusivity Agreement, which Rox has agreed to do, the Offer remains open for acceptance until 17 August 2016 (“Exclusivity Period“). Further details of the Exclusivity Agreement and the Offer are set out below.

The Exclusivity Period allows Rox 30 days to complete due diligence on the $14.8 million Offer from IZE, which comprises $2.0 million payable in cash and the issue of $12.8 million worth of shares in IZE’s parent company, IMI.

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