Oriole Resources Regulatory News (ORR)

10 Jun 2008 12:45



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

10 June 2008

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

Appointment of New Non-Executive Director 

Stratex International Plc the AIM-quoted international exploration and development company currently focusing on gold and base metal opportunities in Turkey, has appointed Mr Gerry Peter Lacy Addison to its Board as a Non-Executive Director. 

Peter Addison, aged 65, qualified as a solicitor in 1966 and practiced in the City of London specialising in company and commercial law. In 1982, he became a director of English Trust, a corporate advisory bank, and for some twenty years was involved in providing corporate finance advice to a wide range of public companies in the UK and Ireland on all aspects of their businesses. He is currently non-executive chairman of Qualceram Shires plc, an Irish company, and of SiRViS IT plc, a UK company.

David Hall, Executive Chairman, commented, "We are delighted to welcome Peter to the Company. His experience as a solicitor and his extensive involvement in providing corporate finance advice will significantly augment the Board".

Peter Addison has been granted 1,500,000 share options at an exercise price of 6.5p per ordinary share. These options have been issued under the Company's unapproved Employee Share Option Scheme. The options vest over three years and expire at the end of ten years from the date of grant. Christopher has no other interests in the share capital of the Company. 

Peter Addison holds, or has in the last five years held, the following directorships: 

Current Directorships:

Qualceram Shires plc

SiRViS IT plc

Past Directorships: 

Maples and Calder Listing Services Ltd

IAF Group plc

IAF Securities Limited

There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule Two paragraph (g) of the AIM Rules. 

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For further information visit www.stratexinternational.com or contact:

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company currently focusing on gold and base metal opportunities in Turkey. Its proven strategy is to discover and develop new projects by focused low-cost exploration, thus adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company. 

Stratex's portfolio covers 11 licence blocks in central and western Turkey totalling approximately 1,630 sq km. These include the Inlice high-sulphidation gold deposit in the Konya Volcanic Belt, the Altıntepe multi-occurrence prospect comprising a number of discrete gold-bearing zones, Doğanbey - a new porphyry gold-molybdenum target within the Konya Volcanic Belt, Muratdere - a porphyry gold-copper-molybdenum occurrence and Karaağaç - a partially exposed, gently dipping gold-bearing zone. Ongoing resource drilling and exploration programmes are underway on a number of these licences, focused on increasing Stratex's total resources, currently standing at slightly more than 841,000 oz of gold. Furthermore, the Company has a healthy project pipeline portfolio, which it continues to strengthen through the acquisition of additional licences. 

Stratex has a strategic partnership with Canadian major mining company, Teck Cominco Limited, which has an 8.8% stake in the Company, enabling the two parties to pool expertise, skills and databases to identify potential projects. For further information visit www.stratexinternational.com