Zincox Resources Plc Regulatory News (ZOX)

8 September 2010

ZincOx Resources plc

("ZincOx" or "the Company")

Korean Recycling Project Update

ZincOx (AIM:ZOX) confirms that it intends the Korean Recycling Project (KRP) located in the Cheonbuk Industrial Estate, near Pohang, to be the Company's first recycling project to be put into production.

The Company expects to receive confirmation of the capital cost estimate for the development of the KRP in the near future and is continuing to pursue various potential sources of third party financing.

To date, work has concentrated on the basic engineering for the KRP which is nearing completion. Detailed design work is scheduled to commence before the end of this month and plant construction will take place during the course of next year with first EAFD deliveries targeted for December 2011 and first zinc production expected shortly thereafter.

The KRP is being designed to produce a high quality zinc oxide concentrate by processing waste (EAFD) generated by recycling galvanised steel and scrap in electric arc furnaces. The zinc oxide concentrate will be of an exceptional quality that will enable it to be added directly to the leach circuit of a conventional zinc electro-refinery. The operation will also produce low grade hot briquetted iron suitable for sale to steel mills and foundries.

With the assistance of the Iron and Steel Association of Korea (KOSA), ZincOx has ten-year EAFD supply agreements with all the major scrap recycling companies in Korea. Together, these contracts provide for the delivery of about 400,000 tonnes per annum of EAFD, which would represent one of the largest EAFD supply transactions.

ZincOx has also been awarded Foreign Investment Zone status for its project site at the Cheonbuk Industrial Estate. In May 2010, various Korean government bodies purchased a site for the main processing plant with the specific intention of leasing the site to ZincOx for the KRP. A draft lease agreement was obtained by ZincOx at the end of July. This has been reviewed and, subject to some final amendments, the lease is expected to be ready for signature by the various parties in the near future.

It is intended that the KRP will be developed in two phases of equal capacity. In the first phase the equipment purchased in January of this year from Severstal North America will be transported to Korea and used in combination with new equipment. It will aim to treat 200,000 tonnes of EAFD annually and produce 60,000 tonnes per annum of zinc concentrate (73% zinc) and 95,000 tonnes per annum of hot briquetted iron. The development of the second phase will proceed immediately after the commissioning of phase one.

Once ZincOx has demonstrated the efficacy of its recycling technology in Korea the Company plans to develop similar recycling plants in Thailand, Turkey and North America.

Commenting on the announcement, Andrew Woollett, ZincOx's Executive Chairman said:

"We have had terrific support for our plans in Korea and I am delighted that the provision of land allows us to accelerate the Korean development. This will be a flagship project for ZincOx and a showcase for the technology. While KRP has moved ahead of our plans to develop a plant in Ohio, the United States of America remains a strategic priority and we look forward to maintaining our presence there in anticipation of the construction of a recycling plant in the medium term."

For more information please contact:

ZincOx Resources plc

Andrew Woollett, Executive Chairman

Tel: +44 (0) 1276 450100

Numis Securities

John Harrison (Nominated Adviser)

James Black (Corporate Broker)

Tel: +44 (0) 20 7260 1000

Conduit PR

Charlie Geller/ Leesa Peters

Tel (Direct): +44 (0) 20 7429 6604/ + 44(0) 7528 233 383