Oriole Resources Regulatory News (ORR)

Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

6 May 2011

Stratex International Plc ('Stratex' or 'the Company')

AGM Statement

Stratex International Plc, the AIM quoted gold exploration and development company focussed in Turkey, Ethiopia and Djibouti, held its AGM at 3pm on 5 May 2011 and all resolutions were duly passed. A copy of the presentation, which was presented to shareholders following the formal business of the AGM, is now available on the Company's website.

In summarising the Company's presentation to shareholders, Chairman Christopher Hall said, "The past year has seen Stratex build upon its position as a successful gold exploration and development company in both Turkey and East Africa. Our Turkish portfolio with advanced gold exploration projects and defined JORC resources of 1.31 million ounces of gold (on a JV-inclusive basis) offers us near-term exposure to development and production. Both our Inlice and Altıntepe gold projects are presently being advanced by our partner with the aim of gold production in 2012 and 2013 respectively, which will not only generate important cash flow for the Company, but will mark Stratex as a proven gold producer. Elsewhere in Turkey we are continuing to fast-track exploration at three key targets - Öksüt, Hasançelebi and Muratdere - through our joint-venture agreements with major companies Centerra Gold and Teck Resources, and Turkish private company Aydeniz Group, respectively. At Öksüt, we have already defined an independent JORC resource of 317,256 oz gold, which we hope will continue to grow with our ongoing drilling programme.

"In tandem with this we are also actively exploring our first mover land position of 3,853 sq km in the exciting Afar region in eastern Ethiopia and Djibouti, which we believe provides significant value potential as we continue to make gold discoveries such as Megenta and Blackrock in Ethiopia. At Blackrock we have identified a total of 14km outcropping epithermal veins where recent rock-chip samples returned grades of up to 60.4 g/t gold from the Black Water zone. These discoveries display typical low-sulphidisation epithermal mineralisation textures similar to those seen in Patagonia and the Nevada Rift in the USA. This vein style is renowned for its bonanza grade potential, a phenomenon that we have already identified at Blackrock. It is our intention to continue to build our land position in the region and to implement defined exploration programmes to advance our discoveries through the resource development cycle and in turn prove the economic potential of our East African assets. The next stage of this will be drilling at Megenta, which is anticipated to commence next week.

"Stratex is fortunate in having committed major mining partners, including Centerra Exploration, NTF, Teck Resources and Thani Ashanti, funding the majority of its exploration and development activities in both Turkey and East Africa. However we have also retained significant acreage outside the joint ventures in Ethiopia, which are also being fast tracked towards drilling. Stratex has a highly prospective pipeline of projects from grass roots to near production which undoubtedly positions the company for further growth during 2011."

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For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:

Turkey Portfolio

In Turkey, Stratex's prime objective is to move into gold production through its partnership with its Turkish partner NTF, with initial production targeted at its Inlice project by H1 2012 and at Altıntepe by 2013, subject to outcome of scoping and feasibility 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 1.31 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver, on a JV-inclusive basis

·; Partnership with NTF, a technically capable and well-financed Turkish company, to rapidly develop the 542,318 oz oxide gold resources present at the Inlice and Altıntepe projects

·; An option/joint venture agreement with Centerra Exploration B.V., a wholly owned subsidiary of Centerra Gold Inc., to explore and develop the Öksüt project, a high-sulphidation gold discovery located 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

·; An option/joint venture agreement with private Turkish company Aydeniz Group to explore and develop the Muratdere porphyry copper-gold-molybdenum deposit in western Turkey

Stratex East Africa Ltd ('SEA') - Ethiopia and Djibouti Portfolio

·; 4.93% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc ('Sheba')

·; Ajoint venture with Sheba 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

·; 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.