Oriole Resources Regulatory News (ORR)

8 Aug 2006 11:33

Stratex International PLC08 August 2006 Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining 8 August 2006 Stratex International Plc, ('Stratex' or 'the Company') Issue of Options The Company announces that it has issued options exercisable at 8.5p per newordinary share to the Directors and Senior Management as follows. These optionshave been issued under the Company's unapproved Employee Share Option Scheme: David Hall Executive Chairman 800,000Bob Foster Chief Executive Officer 800,000Perry Ashwood Chief Financial Officer 700,000Paul Foord Non-Executive Director 500,000Gavin Burnell Non-Executive Director 500,000Bahri Yildiz General Manager - Turkey 700,000 These options cannot be exercised for a period of one year from the date ofgrant. * * ENDS * * Contacts:David Hall Stratex International Plc Tel: +44 (0)20 7830 9650Bob Foster Stratex International Plc Tel: +44 (0)20 7830 9650Imran Ahmad HB Corporate Tel: +44 (0)20 7510 1166Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477 Notes to editors: Stratex International Plc is an AIM-listed 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 Company has identifiedwidespread evidence for a 'high-sulphidation' style of gold mineralization onits Inlice property. This style of mineralization occurs at three of the largestand lowest cost gold mines placed into production in the last 15 years, namelyYanacocha, Pierina and Alto Chicama in Peru. Teck Cominco Limited The Company has a 'Strategic Alliance' with Teck Cominco Limited, a diversifiedmining company headquartered in Vancouver, Canada. Teck Cominco holds 14.5% 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