Last checked at 15 Jan 2009 11:59
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
15 January 2009
Stratex International Plc ('Stratex' or the 'Company')
Holdings in Company
Stratex International Plc, the AIM-quoted international exploration and development company currently focusing on gold and base metal opportunities in Turkey, has been notified that on 13 and 14 January 2008, Kairos Investment Management Ltd, as agent for Kairos Fund Ltd and Kairos Eurasian Fund Ltd, sold a total of 18,900,000 ordinary shares in the Company. This sale has resulted in Kairos Fund Ltd fully closing its position (prior holding 8.07%). There has been no change in the holding of Kairos Eurasian Fund Ltd since the previous notification on 17 December 2008, which remains at 33,900,000 ordinary shares in the Company, being 14.47% of the issued share capital of the Company.
**ENDS**
For further information visit www.stratexinternational.com or contact:
| David Hall / Bob Foster | Stratex International Plc | Tel: +44 (0)20 7830 9650 |
| Tim Metcalfe / Harry Barraclough | Hanson Westhouse Limited | Tel: +44 (0)20 7601 6100 |
| Victoria Thomas / Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0)20 7236 1177 |
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 is actively seeking a technically capable and well-financed partner with the view to rapidly developing the 542,318 oz oxide resources present at the Altıntepe and Inlice projects.
Stratex's portfolio covers 11 licence blocks in central and western Turkey totalling approximately 1,724 sq km. The Company's latest discovery is the Öksüt high-sulphidation gold deposit with early drilling reporting best intersections of 270.2 m from surface averaging 1.22 g/t Au and 62.45 m grading 2.16 g/t Au from 14.75 m down hole. Additional key projects include Doğanbey - one of four porphyry gold targets within the Konya Volcanic Belt, Muratdere - a porphyry gold-copper-molybdenum occurrence, and Karaağaç - a partially exposed, gently dipping gold-bearing zone. Ongoing drilling and exploration programmes are underway or anticipated on a number of these licences, focused on increasing Stratex's total resources, currently standing at circa 1 million oz of gold and approximately 3.2 million oz of silver. Additionally 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 Limited, which holds an 8.8% stake in the Company, enabling the two parties to pool expertise, skills and databases to identify potential projects.