Update on Feasibility Study on Inlice - Turkey

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

23 February 2011

Stratex International plc

Update on Feasibility Study on Inlice

Stratex International plc ('Stratex' or 'the Company') announces that the Company, and its joint venture partner at the Inlice project, NTF Insaat Ticaret Ltd Sti ("NTF"), have received a preliminary draft of the Inlice project feasibility study (the "Draft Study") undertaken by Kappes Cassidy & Associates of Reno, Nevada ("KCA"), with DAMA Engineering of Ankara, Turkey ("DAMA"). Stratex and NTF are reviewing the Draft Study in detail with a particular focus on the cost assumptions and mining plan and the release of the final report will be delayed until March. The Board does not anticipate a significant delay to the overall project timing but will provide further guidance in this regard upon publication of the final report.

The feasibility study was commissioned with the objective of ascertaining the feasibility of exploiting the Inlice deposit by open pit mining and heap leaching of the oxide material. The Draft Study supports the economic viability of the project but the Board and NTF are working closely with KCA and DAMA to define andutiliselocal cost parameters and on optimization of the resource to maximum economic benefit.

Stratex and JV partner NTF have held meetings with a considerable number of local, provincial, and Government agencies and received positive support from all parties. Covering letters from all these agencies will be incorporated within the Environmental Impact Assessment Report that is in the final stages of compilation and this will be submitted to the appropriate Government department for review and approval in due course.

CEO Dr. Bob Foster, FIMM, CEng, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

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