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Released 07:00 10-February-2015

Number 4420E

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

Stratex International Plc

('Stratex' or 'the Company')

Operational Update: Homase/Akrokerri Project, Ghana

 

Stratex International Plc, the AIM-quoted exploration and development company, is pleased to announce that GoldStone (AIM:GRL), in which the Company holds a 33.45% interest, has today released an operational update for its Homase/Akrokerri gold project (‘Homase/Akrokerri’ or the 'Project’) in Ghana.

Highlights:                                                                           

  • Completion of a comprehensive internal and peer review of existing geological data;
  • Potential identified for the discovery of additional oxide resources;
  • Auger programme to be conducted to identify drill targets, following pitting programme to confirm regolith profiles;
  • Priority drill targets to be aimed at identifying near-surface oxide-gold resources to augment existing oxide resource of approximately 100,000 oz gold.

The full text of the announcement by Goldstone can be found at http://www.goldstoneresources.com/investors/news-releases.html.

 

* * ENDS * *

 

For further information please visit www.stratexinternational.com, email [email protected], or contact:

Stratex International Plc

Tel: +44 (0)20 7830 9650

Bob Foster / Christopher Hall / Claire Bay

 

Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Philip Secrett / Melanie Frean / Jen Clarke

 

Northland Capital Partners Limited

Tel: +44 (0)20 7382 1100

Gerry Beaney / David Hignell/

Alice Lane /John Howes

 

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3470 0500

Ewan Leggat / Tercel Moore

 

Yellow Jersey PR Limited

Tel: +44 (0)7747 788 221

Dominic Barretto / Philip Ranger / Anna Legge

Notes to Editors:

Focused on the exploration and development of gold and high-value base metals, Stratex International is active in Turkey and Senegal and has strategic interests in East Africa and Ghana. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.

To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company is looking to completion of construction of its 45%-owned Altintepe gold project in Turkey in Q1-2015 and anticipates gold production soon thereafter. Additionally a 1% production royalty capped at US$20 million will be due from the Öksüt project, also in Turkey, with first production provisionally targeted for late-2016 by owners Centerra Gold. With its current cash position and projected cash returns, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.

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