Rox Rewarded with up to $20.6 Million for Sale of Zinc Project

Rox Rewarded with up to $20.6 Million for Sale of Zinc Project

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  • October 19, 2016

Rox Resources Limited (ASX:RXL) (“Rox” or “the Company”) wishes to announce that Teck Australia Pty Ltd (“Teck”) has advised Rox that it has exercised its pre-emptive right to match the offer previously received from Marindi Metals Limited (“Marindi”) (“Marindi Offer”) (ASX:RXL 17 August 2016) for the purchase of Rox’s minority interest in the Reward Zinc Project ( the “Reward Project” or the “Project”) in the Northern Territory.

Pursuant to the Earn-in and Joint Venture Agreement (“JVA”) between Rox and Teck, Teck retained a pre-emptive right over Rox’s interest in the Project. Rox was obliged to offer to sell its interest in the Reward Project to Teck under the pre-emptive right.

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