Djibouti Update

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

Stratex International Plc

('Stratex' or the 'Company')

Significant New Gold Vein Discovery in Djibouti - Surface Values up to 25.9 g/t Au

And

Rhyolite-hosted Gold Mineralisation at Asal - 6.64 g/t Au over 1.8 m.

Stratex International plc, the AIM-quoted exploration and development company focussed in Turkey, East Africa and West Africa, is pleased to announce the discovery of another major vein system in the Afar Epithermal Province in Djibouti, East Africa, and new results from detailed sampling of the Hercules rhyolite domes at the Company's Asal project, Djibouti.

Highlights

·; Substantial new vein system 'Pandora' discovered during helicopter reconnaissance as part of wider exploration programme with JV partner Thani Ashanti - 5 km long structure hosting vein with vein up to 2.5 m wide

·; Best results from 43 channel-chip samples across main zone include 9.81, 9.97, 9.99, 10.05, 13.85, and 25.9 g/t Au

·; Float vein sample 6.5 km NW of main zone returned 80.1 g/t (2.56 oz/t) Au

·; Exclusive Exploration Licence ('EEL') awarded over 93 sq. km Oklila area, to cover Pandora vein system and surrounding ground

·; Detailed sampling of Hercules rhyolite domes at Asal returned 0.68 g/t Au over 24 metres and 6.64 g/t Au over 1.8 m, confirming low to moderate disseminated gold mineralisation

·; Both targets will be rapidly advanced to drill testing by the end of Q3 2012

Commenting David Hall, Executive Director East Africa, said: "the discovery of such an extensive new epithermal gold vein system at Oklila shows the continuing potential for the Afar Epithermal Gold Province. The surface grades from the Pandora vein are highly encouraging, especially as the highest grades are focused on a 500 metre zone of the vein, which may indicate the presence of a high grade shoot that we can quickly target. With the bonanza float sample identified 6.5 kilometres NW of the main zone, the system has potential for expansion beyond the current mapped area. At Asal, the rhyolite domes showed early promise from reconnaissance sampling, and these detailed results firmly establish this style of mineralisation as an important new target in the Afar. Interestingly, we have also recently identified rhyolite domes at Blackrock which have been shown to contain anomalous gold. Both Pandora and Asal will be the focus of exploration with Thani Ashanti over the coming weeks, with the aim to drill test by the end of Q3-2012. The Afar Epithermal Gold Province is developing into a new major play that Stratex, either in partnership with Thani Ashanti or in its own right, has first mover competitive advantage".

Further Details

Stratex, with its strategic partner Thani Ashanti, has been undertaking further exploration in the Republic of Djibouti in East Africa

Pandora

During a 4-day helicopter reconnaissance over the country, Stratex and Thani Ashanti geologists discovered a new epithermal vein system, Pandora. The Pandora vein is up to 2.5 metres wide at surface and can be traced north-westwards for approximately 1.5 kilometres, partly concealed by wadi sediments, before it disappears under recent basalt flows. The vein occurs in a major fault structure that extends for at least 5 kilometres. Like the Company's Blackrock project in Ethiopia, the vein comprises classic epithermal colloform quartz with silica-replaced calcite in places. Brecciation and strong alteration is also observed in the immediate wallrock.

A total of 43 rock-chip samples were taken, 26 of which assayed greater than 1 g/t Au with six assaying greater than 9 g/t Au - 9.81, 9.97, 9.99, 10.05 13.85, and 25.9g/t Au, with the bulk of the higher values focussed on a 500 metre stretch of the outcropping vein.

A sample of vein float (surficial) material taken 6.5 kilometres NW of the main zone returned 80.1 g/t Au (equivalent to 2.56 oz/t Au). This highlights the potential scale of this system, which may now extend beyond the current mapped area.

A new 93 sq. km EEL, Oklila, has now been granted to Stratex by the Ministry of Natural Resources in Djibouti, to cover the Pandora vein system and the surrounding prospective ground.

Asal

At Asal, two highly altered and brecciated pyrite-bearing rhyolite domes, Hercules I and Hercules II, showed early promise from reconnaissance sampling, returning grades up to 3.08 g/t Au and 1.67 g/t Au respectively (please see the announcement dated 19th April 2011 for further details). The exposed rhyolite dome at Hercules I, which is a very prominent topographic feature, measures approximately 300 x 170 metres. Most of the dome is covered by a layer of carbonate/travertine, especially to the east and north-east where there are extensive aprons of travertine beds containing angular clasts of rhyolite.

Follow-up detailed sampling has returned the following best results: 0.68 g/t Au over 24.0 m, 0.75 g/t Au over 6.0 m, and 0.11 g/t Au over 4.7 m

The Hercules II dome is located 500 metres north-east of Hercules I and is observed intruding into older basalt and sediments (sandstone-mudstone). It is locally flow banded, in places silicified and brecciated, and cut by calcite veins. Following detailed sampling at Hercules II, all twenty samples collected returned more than 0.39 g/t Au, with fifteen returning over 1.0 g/t Au. Best results include 6.64 g/t Au over 1.8 m, 5.72 g/t Au over 1.4 m, 3.64 g/t Au over 1.3 m, 3.13 g/t Au over 3.3 m, 2.47 g/t Au over 1.3 m, 2.15 g/t Au over 5.1 m and 1.93 g/t Au over 4.0 m.

Pandora and Asal will be the focus of further exploration in collaboration with Thani Ashanti over the coming weeks, with the aim to commence drill-testing both properties by the end of Q3 2012.

For further information on the Pandora and Asal projects, please visit:

http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/afar-project.aspx

Sampling, assaying, and Quality Assurance / Quality Control

Stratex's sampling of outcropping rocks, drill core, and other geological materials conforms to industry-wide good practice, with chain of custody being observed for all samples. Gold analysis is undertaken by ALS Chemex at its laboratories in Romania and South Africa and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

David J. Hall, Executive Director East Africa, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information

* * ENDS * *

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

Glossary of Technical Terms

"bonanza" greater than 1 ounce per tonne (31.103 grammes)

"breccia" coarse-grained rock composed of broken, angular rock

fragments enclosed in a fine grained matrix or held together by

a mineral cement

"carbonate" a mineral composed of calcium, magnesium and/or iron, e.g.

calcite, dolomite

"channel-chip sample" a sample comprising small chips of rock collected across the

face of a rock body or vein

"colloform" semi-rounded, kidney-like texture

"epithermal system" formed from hydrothermal solutions within about one kilometre

of the Earth's surface in the range of 50-200 °C. Typically

found in volcanic rocks; chief metals are gold, silver, copper,

lead and zinc

"float" loose rock fragments that are often found in the soil, usually

found downhill from the source material

"rhyolite" extrusive equivalent of granite, commonly forming domes

"travertine" fine-grained crystalline calcite deposit of white, cream or tan

colour, often banded, formed by chemical precipitation from

solution by inorganic processes from hot or cold water e.g. in

lakes, springs

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company focussing on gold and base metal opportunities in Turkey, East Africa, and West Africa.

Stratex - Turkey Portfolio

In Turkey, Stratex is moving to gold production at the Inlice project through its partnership with its Turkish partner NTF. Altıntepe is also targeted to go into production through a joint venture with Turkish partner Bahar Madencilik, subject to outcome of an Environmental Impact Study (EIS) and technical studies. The Company also remains focused on discovering and developing new projects through low-cost exploration, adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company. 

·; Total resources stand at approximately 2.26 million oz of gold (combined oxide and sulphide gold) and 7.1 million oz of silver, on a global resource basis

·; Partnership with NTF, a technically capable Turkish company, to rapidly develop the 59,600 oz gold reserve at the Inlice project

·; Partnership with Turkish company Bahar Madencilik to advance development of the 490,000 oz Altintepe oxide-gold project in northern Turkey to production

·; An option/joint venture agreement with Centerra Exploration B.V., a wholly owned subsidiary of Centerra Gold Inc., to explore and develop the Öksüt project, a high-sulphidation gold discovery located in Central Anatolia. Resources here were recently expanded to 1,047,871 oz Au in Ortaçam and Ortaçam North zones at a cut-off grade of 0.2 g/t Au.

·; A further option/joint venture agreement with Centerra Exploration B.V. to explore the multiple high-sulphidation alteration zones of the Altunhisar project in Central Anatolia

·; An option/joint venture agreement over the Hasancelebi project, a high-sulphidation gold project in central Turkey with Teck Madencilik Sanayi Ticaret A.S., a Turkish subsidiary of Teck Resources Limited of Canada, a major shareholder in Stratex

·; Exploration agreement with Antofagasta to explore Turkey for porphyry copper and other copper deposit-types that will be vested into an established JV 

Stratex East Africa Ltd ('SEA') - Ethiopia and Djibouti Portfolio 

·; A joint venture with Centamin plc to (i) evaluate the prospective 37 sq km Shehagne gold project in Ethiopia (Stratex has 60% of the project), and (ii) explore targets in northern Ethiopia on a 70:30 joint venture basis.

·; Berahale EEL covers an area of 1,107.44 sq km in northern Ethiopia and is prospective for gold and base metals

·; Multiple low-sulphidation vein systems recently discovered in the Blackrock EEL with bonanza gold values up to 34.6 g/t Au and 60.4 g/t in outcrop

·; A significant land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti

·; Stratex International has signed a binding Heads of Agreement with Thani Ashanti, an AngloGold Ashanti Limited joint venture company, to fast-track development of the Megenta discovery in Tendaho EEL and licences within Djibouti (collectively the 'Afar Project'). Thani Ashanti can earn 51% of the Afar Project by spending US$3 million on exploration and development over two years. Recent results from the scout drilling programme at Megenta have confirmed epithermal gold mineralisation 

Stratex interest in West Africa 

Stratex has acquired the entire issued share capital of former private company Silvrex Limited (renamed Stratex West Africa Ltd), including its gold portfolio in Senegal, where the Company is now earning-in to an eventual 75% of an exploration licence in the highly prospective Kédougou-Kenieba area. The portfolio also includes four exploration licences acquired in Mauritania.