Disposal

11 March 2013

ZincOx Resources plc

("ZincOx" or the "Company")

ZincOx sells its interest in the Jabali Project to its JV partner, Ansan Wikfs

ZincOx Resources plc (symbol "ZOX") is pleased to announce that it has entered into an agreement for the sale of the entire issued share capital of ZincOx Resources (Yemen) Limited, which holds a 52% interest in Jabal Salab Company (Yemen) Ltd ("Jabal Salab"), to its JV partner, Ansan Wikfs (Jabal Salab) Ltd ("Ansan"). Jabal Salab has the right to exploit the Jabali deposit in Yemen, which contains both silver and zinc, and the consideration for the sale comprises a series of deferred payments to be made from cash generated from the (currently undeveloped) Jabali deposit once it has been developed, with a nominal payment of US$1 made by Ansan at signing, acknowledging that the value will be in the project once developed. The structure is similar to the one that ZincOx successfully employed in respect of the sale of its interest in the Shaimerden deposit in 2003.

Commenting on the announcement, Andrew Woollett, ZincOx's Chairman said "Due to the realignment of our corporate strategy towards recycling, our interest in primary natural resources has diminished and it is right therefore that our JV partner takes over the management and development of this exciting project. With their very strong connections in the Middle East generally and Yemen in particular we believe they are best placed to pursue the financing of the project."

The continuity for the technical support of the metallurgical process to be used in the project will be maintained under a Licence Agreement and a Consultancy Services Agreement, whereby ZincOx's technical team will be available to provide process and other engineering support to ensure successful commercialisation.

The deferred payments are totally dependent on the project being financed and developed and the products being sold. They are further dependent on the LME zinc and silver prices at the time of future sales of the products and are designed to recover the Company's past investments in Jabal Salab.

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