Oriole Resources Regulatory News (ORR)

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

18 January 2011

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

Expands Afar Epithermal Gold Position - New Licence Acquired

Stratex International plc announces that it has acquired a new Exclusive Exploration Licence ('EEL') in the prospective Afar region in eastern Ethiopia where it has identified further epithermal-style veining, alteration and mineralisation. This is in line with the Company's strategy to expand its already extensive land position in the Afar so that it may continue to investigate the potential of this newly identified gold-mineralised district.

Highlights

·; Mille-Serdo Exclusive Exploration Licence acquired over seven newly identified areas of mineralisation and alteration - includes 510 km² Mille licence areas and 537 km² Serdo licence areas

·; Epithermal alteration & mineralization (pyrite+/- gold) defined at Mille I licence (within Mille licence area) associated with alterted rhyolite domes

·; EEL 100% owned by wholly-owned subsidiary Stratex East Africa ('SEA') and not included in Stratex's Thani Ashanti JV agreement

·; Identified a number of further targets in the Afar region of Ethiopia and additional licence applications submitted

·; Expanding first-mover advantage as continuing exploration demonstrates growing extent of Afar gold district

·; Total land position in the Afar region of Ethiopia is now 3,292 km², including Megenta, and 138 km² in the Main Ethiopian Rift (Gademsa target)

David Hall, Executive Director, commented, "We are highly encouraged by the further definition of extensive epithermal low-sulphidation-type mineralisation and associated alteration outside of our flagship Megenta hot spring epithermal gold discovery in Ethiopia and believe that the Afar region of eastern Ethiopia is emerging as a new gold district. In light of this we are continuing to build upon our already substantial position by utilising our first-mover advantage in the area. We now have defined some 12 epithermal occurrences with further applications submitted over other new discoveries".

"Preparations are underway for the 3000 metre drill programme with Thani Ashanti at Megenta and that is the next exciting stage of this exploration endeavour and I look forward to updating the market on all developments over the coming months".

Further Information

The Mille-Serdo EEL is located in the Afar region of eastern Ethiopia, which is situated at the northern end of the Main Ethiopian Rift where it widens into the Afar Depression. The 537.6 km2 Serdo licence area comprises 4 areas 47 kilometres to the north-east of the Company's initial Megenta discovery and are underlain by Serdo Rhyolites and younger basaltic rocks. Within such a bi-modal (rhyolite-basalt) setting the rhyolite end-member is very important in the generation of gold-bearing hydrothermal fluids.

The 510.1 km2 Mille licence area consists of 3 areas located 45 kilometres southwest of Megenta and is also typified by a series of felsic centres with evidence of epithermal mineralization and alteration. In Mille licence area I, abundant colloform-banded chalcedony and chalcedonic silica veinlets with sulphides were initially identified by Stratex field teams hosted by a series of rhyolitic domes. The scale of the alteration is extensive and will require detailed mapping and sampling.

Stratex's interest in the Mille-Serdo EEL is 100% and not included in the Thani Ashanti joint venture. The EEL is valid for an initial term of three years and thereafter may either be renewed for two years or be converted into mining licences.

Stratex's total land package in the Afar region now stands at 3,292 km2. The Company also has 138 km2 covering an epithermal target at Gademsa in the Main Ethiopian Rift.

Afar Epithermal District

The Megenta prospect, located in the prospective Afar region of eastern Ethiopia, has been reviewed with leading independent epithermal consultant Dr. Richard Sillitoe and was the first discovery of epithermal gold mineralization in the Afar. For more detail please see the Company announcement dated 29th March 2010.

The results of further exploration by Stratex of epithermal gold prospects and colour anomalies in Ethiopia and Djibouti have increased to three the number of geological settings in the Afar Depression where low-sulphidation epithermal gold mineralization may be anticipated.

This recognition clearly highlights the potential of the Afar Depression for systems more deeply eroded than Megenta. Stratex is continuing its exploration for further discoveries and will commence drilling at Megenta in March 2011.

For more information on the Company's Rift Valley projects, please see http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/rift-valley.aspx 

Sampling, assaying, and QA/QC

Stratex's sampling of outcropping rocks conforms to industry-wide good practice, with chain of custody being observed for all samples. Analysis is undertaken by ALS Chemex at its laboratories in Johannesburg, South Africa and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

Executive Director David J. Hall, Fellow SEG and EuroGeol is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

** ENDS * *

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

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company focussing on gold and base metal opportunities in Turkey, Ethiopia and Djibouti.

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 the first quarter of 2012 and at Altıntepe by early 2013. 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 1.17 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver

·; 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

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

·; 5.45% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc ('Sheba')

·; A joint 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 EEL's cover a combined area of 1,225 sq km in northern and central Ethiopia respectively and are prospective for gold and base metals

·; 2,780 sq km land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti, collectively named as the Afar Project

·; Stratex International has signed a binding Heads of Agreement with Thani Ashanti, an AngloGold Ashanti Limited joint venture company, to fast-track development of the Afar prospects. Thani Ashanti can earn 51% of the currently identified prospects (collectively the 'Afar Project') by spending US$3 million on exploration and development over two years