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

Stratex International Plc

('Stratex' or 'the Company')

Revision of Goldstone Loan Agreement

Stratex International Plc, the AIM-quoted exploration and development company focused on gold and base metals in West Africa and in Turkey, where it holds a 45% interest in a producing gold mine, announces that it has revised its loan agreement (the “Agreement”) with Goldstone Resources Limited (“Goldstone”; AIM: GRL), in which the Company holds a 33.45% interest.

Further to the Company’s announcement on 12^th April 2016, Stratex has agreed to increase the amount of the unsecured short-term loan facility (the “Loan”) to Goldstone from US$100,000 to US$350,000. All other terms of the Agreement remain the same, with the Loan being repayable on or before 31 December 2016 and interest accruing on the outstanding amount of the Loan at 5.0% per annum which is payable quarterly in arrears.

The Loan will be used to provide general working capital and to satisfy the agreement between Goldstone and its former CEO Mr Jurie Wessels which has also been announced by Goldstone today.

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

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

Notes to Editors:

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company achieved first gold pour at its 45%-owned Altıntepe gold mine in Turkey in November 2015 and recently sold its 1% Net Smelter Returns royalty in the Öksüt gold project for US$4.5 million. It also owns 14.87% of a copper-gold project at feasibility stage. With its current cash position, projected cash returns and no debt, 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.