Oriole Resources Regulatory News (ORR)

14 May 2007 09:41

Stratex International PLC14 May 2007 Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 14th May 2007 Stratex International Plc (Stratex or the "Company") New Non-Executive Director Stratex International Plc ("Stratex"), the AIM-quoted international explorationand development company currently focusing on gold and base metal opportunitiesin Turkey, has appointed Andrew Malim to its Board as a Non-executive Director. Mr. Malim has over 30 years experience in mining exploration and finance. He wasa founding member of the award wining James Capel & Co. mining team in 1969,where he acted as a precious metals analyst and institutional salesman. In 1980,he founded the Lion Mining Group and over a 20 year period played an active rolein mining fund management and the finance of numerous precious and base metalprojects in North and South America, Asia and Africa. In 1985, via the Lion Group, he co-founded with N M Rothschild Asset Management(London), Mining Finance Corp (TSX) which brought the Blackdome high-grade goldmine into production. Afterwards, he was involved in the funding and developmentof the Snip high-grade underground gold project in British Columbia via DelawareResources and became a specialist in the funding of vein-type and bulk tonnageheap-leach precious metal deposits. David Hall, Executive Chairman, commented, "We are delighted to welcome Andrewto the Board. His outstanding achievements and extensive mining experience,coupled with his strong financial credentials, give us confidence that he hasthe qualities needed to advance the development of Stratex as it moves into itsnext growth phase." Mr. Malim has been granted 500,000 share options at an exercise price of 11.87pper ordinary share. These options have been issued under the Company'sunapproved Employee Share Option Scheme. These options are exercisable betweenone and ten years from the date of grant. Mr. Malim holds, or has in the last five years held, the followingdirectorships: Current Directorships Past Directorships Kryso Resources Plc Dragon Resources IncTexada Capital Corporation Big Shots Studio LtdJust Imagine Ltd Pershore Media LtdHainan Mining Corporation Plc Megabeam Networks LtdJermyn Street Promotions Ltd Abbeygate Ventures LtdIpsotek Ltd Lion Capital Corporation LtdArmorstar Ltd Lion Mining Finance Ltd Lion Mining Corporation Lion Resource Management Ltd There is no further information required to be disclosed in respect of the aboveappointment pursuant to Schedule Two paragraph (g) of the AIM Rules. * * ENDS * * For further information visit www.stratexinternational.com or contact: David Hall Stratex International Plc Tel: +44 (0)20 7830 9650Bob Foster Stratex International Plc Tel: +44 (0)20 7830 9650Anita Ghanekar Hanson Westhouse Limited Tel: +44 (0)20 7601 6100 Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477 Notes to editors: Stratex International Plc is an AIM-quoted exploration and development companycurrently focusing on gold and base metal opportunities in Turkey. Directed by ahighly experienced resource sector management team, Stratex's activities willidentify quality mineral resources, primarily gold, silver, copper, molybdenum,zinc, and nickel. Stratex has developed four high-priority prospects in central and western Turkeyand is undertaking an extensive exploration and resource drilling programme,together with mapping and sampling of key prospects. The potential of the Inliceand surrounding Konya projects has been substantiated by the comparison made byDr. Richard Sillitoe with the Maricunga district in Chile. Prior to 1980, theMaricunga had no known copper or gold mineralization and due to new explorationhas past production and reserve / resources of 40 million ounces. Teck Cominco Limited The Company has a 'Strategic Alliance' with Teck Cominco Limited, a diversifiedmining company headquartered in Vancouver, Canada. Teck Cominco holds 13.35% ofthe Company. This enables the two parties to pool expertise, skills anddatabases to identify potential projects. Technical and financial risks are alsobeing reduced through the alliance with a major metal producer providingadditional project funding, a wealth of technical expertise and a ready buyerfor new resources, ensuring rapid returns from discoveries. This information is provided by RNS The company news service from the London Stock Exchange