Oriole Resources Regulatory News (ORR)

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

Stratex International Plc

("Stratex" or "the Company")

Completion of Private Placement in Tembo Gold Corporation

Stratex International Plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey, East Africa and West Africa, announces that it has completed its previously announced non-brokered private placement (the 'Placement') in Tembo Gold Corporation (TSXV: TEM; "Tembo"; announcement dated 18th November 2013).

The wholly-owned subsidiary Stratex Gold AG has been issued 17,500,000 common shares in Tembo priced at C$0.10 per share, and matching warrants, in return for a subscription of C$1.75 million. This will represent approximately 13.2% of the outstanding common shares of Tembo on a non-diluted basis, assuming the Placement is fully subscribed. The Company's holding could increase to 23.4% on exercise of the matching warrants, assuming the Placement is fully subscribed. Each warrant will be exercisable for one common share in Tembo until 2nd December 2016, at a price of C$0.12.

The Placement was for an aggregate of C$5.95 million co-investment with New Africa Mining Fund II (C$2.5 million) and Concept Capital Management Ltd (C$1.0 million), together with other investors. Tembo expects to close a second, non-brokered tranche of the Placement by mid-December 2013 for up to approximately C$2.3 million. Funds invested are to be focussed largely on exploration drilling and resource definition at the Tembo gold property in Tanzania, a package of c.100 km2 of highly prospective licences adjacent to African Barrick Gold's Bulyanhulu Mine. The Placement remains subject to the final approval of the TSX Venture Exchange.

Commenting on the proposed investment, Stratex Chief Executive Officer Dr Bob Foster said: "We are delighted that the equity financing has now been completed, subject only to final approval by the TSX Venture Exchange, and we anticipate working closely with our co-investors and the Tembo technical team to unlock the potential of this very exciting licence package adjacent to the multi-million-ounce Bulyanhulu Gold Mine. Tembo's drilling has already returned some high-grade gold intersections and it is our collective task now to define the mineralized zones in greater detail and drive the project towards resource definition. We look forward to updating our shared investors as the programme progresses through the coming year."

Further details are set out in the Tembo press release that can be accessed on Tembo's SEDAR profile at www.sedar.com.

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

Notes to editors:

AIM-quoted (2006) Stratex International is focussed on the exploration and development of gold and high-value base-metal deposits in Turkey and East and West Africa.

It has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver and has a strong cash position following the US$ 20M sale of its interest in the Öksüt gold project in Turkey, and its c. US$ 20M future production royalties, along with the sales of 45 and 51 per cent of its Inlice and Muratdere projects, respectively. Stratex has a well-developed strategy to use its cash balance to move it towards a sustainable cash flow position from operations.

Its focus has been to form joint-venture partnerships with local private companies and major international mining companies, such as Antofagasta and Centerra in Turkey, and Thani Ashanti in East Africa while the corporate objectives are to progress majority-owned projects towards economic evaluation and development and to take advantage of quality opportunities in the smaller exploration company sector.