Gold Alliance

In March 2013, the Company announced a new strategy alliance with a subdiary of Centerra Gold, leading North American-based gold mining company, to explore for gold in a defined area in central Turkey. Under the terms of the Agreement, Centerra is committed to funding US$500,000 in year one and thereafter has the option to fund further work at a minimum level of US$250,000 per annum. Identification and acquisition of exploration targets will be managed by Stratex until further notice.

Results of the work will remain confidential for the foreseeable future to ensure that the alliance retains first-mover advantage in the identified high-priority exploration areas.