The Board of Directors and senior management of Stratex International Plc (the Company) are committed to acting responsibly, ethically and with high standards of integrity in their aim to achieve shareholder value. The Board of Directors has developed and adopted corporate governance policies as set out below.

Board of Directors

The Board is responsible for providing strategic direction for the Company and guiding management in the execution of this strategy for the benefit of shareholders.

Current composition of the Board is three Executive Directors, David Hall, Bob Foster and Perry Ashwood, and two Non-Executive Directors, Christopher Hall and Peter Addison.

Ethical Standards

All Directors, management and staff are expected to consistently apply the highest ethical standards to their conduct to ensure that the Company's affairs and reputation are at all times maintained at the uppermost level.

Board Committees

The Board has established two committees to consider specific issues and report back to the full Board. These are: The Audit Committee and the Remuneration Committee. Other committees can be convened as required.

Audit committee. This comprises Christopher Hall, Perry Ashwood, and Peter Addison. The purpose of this committee is to independently review the financial and audit matters of the Company.

Remuneration committee. This comprises Christopher Hall and Peter Addison. The purpose of this committee is to advise the full Board on remuneration and incentives and make recommendations regarding compensation for employees and other Board members.

Disclosure of Company Information to the Market

The Directors have a formal policy whereby disclosure of information that could have a material impact on the Company's share price is released to the market as soon as possible. This information is also made available on the Company's website.

In addition to the above, shareholders and other interested parties who are on the Company's mailing list, receive regular information on Company releases.

Risk Management

The Directors place great importance on creating an environment within the company where risks have been properly assessed and measures have been put in place to ensure that risks identified are effectively managed so that the Company is not prevented from achieving its objectives

Advisory Committee

Stratex and Teck Cominco (Joint Venture Partner) have established a joint Advisory Committee to formally screen all potential prospects before any commitment is made to proceed. This process ensures an unbiased and professional approach is adopted for all major project decisions. The Advisory Committee comprises David Hall and Bob Foster from Stratex, two of TC's senior managers, and is chaired by an independent internationally acknowledged consulting geologist.

Company Memorandum and Articles of Association

The company Memorandum and Articles of Association maybe accessed via the following links:

• Memorandum - 212kb
  
• Articles of Association - 401kb