Last checked at 20 Nov 2009 14:45
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
20 November 2009
Stratex International Plc ('Stratex' or 'the Company')
Issue of Equity
Stratex International Plc, the AIM quoted international exploration and development company, has received notice from an employee of its wholly owned Turkish subsidiary that he wishes to exercise 85,000 options which were granted to him under the Option Agreement dated 30th April 2009. These Options vested on 1st August 2009 are exercisable at a price of 3.0p. The new shares have been issued and allotted and rank pari passu with the existing Ordinary Shares of 1p each in the Company.
Application has been made for these new shares to be admitted to trading at 08.00 on Thursday, 26 November 2009. The total number of Ordinary Shares in issue following this exercise of options will be 249,546,923.
Enquiries:
| David Hall / Bob Foster | Stratex International Plc | Tel: +44 (0)20 7830 9650 |
| Tim Metcalfe/ Martin Davison | Hanson Westhouse Limited | Tel: +44 (0) 20 7601 6100 |
| Jason Bahnsen | Fox Davies Capital | Tel +44 (0) 20 7936 5230 |
| Felicity Edwards/ Isabel Crossley/ | 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 focussing on gold and base metal opportunities in Turkey and Ethiopia. Its proven strategy is to discover and develop new projects by focussed low-cost exploration, thus adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company. In this respect Stratex now has four major associations:
Stratex has joined with NTF, a technically capable and well-financed Turkish company to rapidly develop the 570,000 oz oxide resources present at the Altıntepe and Inlice projects.
Additionally, Stratex has signed an option/joint venture agreement with Centerra Gold Inc. to explore and develop the Öksüt project, a high-sulphidation gold discovery located in Central Anatolia in Turkey.
Stratex has a joint venture agreement with Teck Resources of Canada, a major shareholder in Stratex, over the Hasancelebi project, a high-sulphidation gold project in central Turkey.
A joint venture agreement with Sheba Exploration (UK) plc to earn-in to an initial 60% of the prospective 50 sq km Shehagne gold project in Ethiopia and explore targets in northern Ethiopia on a 70:30 joint venture basis.
Stratex's portfolio covers 11 licence blocks in central and western Turkey totalling approximately 1,690 sq km. Stratex's total resources in Turkey stand at circa 1 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver.
The Company has a 5.45% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc and signed a binding letter of intent with Sheba to explore highly prospective gold licences held by Sheba in Ethiopia. The management of Stratex believes that Ethiopia is highly underexplored and offers exciting opportunities for discovery of a wide range of metal and mineral deposits, particularly gold and base metals.