Exercise of Options and Warrants

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

24 February 2011

Stratex International Plc ('Stratex or 'the Company')

Exercise of Options and Warrants

Stratex International Plc announces that, following the exercise of warrants, 2,342,399 ordinary shares are to be issued at an exercise price of 4 pence per share, and a further 15,000 ordinary shares are to be issued as a result of the exercise of share options at an exercise price of 3 pence per share. Application has been made to have the shares admitted to AIM on 1 March 2011.

Following the exercise of the warrants and options, the total number of ordinary shares in issue will be 298,424,434 ordinary shares of 1p each.

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

Notes to editors:

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

Turkey Portfolio

In Turkey, Stratex's prime objective is to move into gold production through its partnership with its Turkish partner NTF, with initial production targeted at its Inlice project by the first quarter of 2012 and at Altıntepe by early 2013. The Company also remains focussed 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 1.17 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver

·; Partnership with NTF, a technically capable and well-financed Turkish company, to rapidly develop the 542,318 oz oxide gold resources present at the Inlice and Altıntepe projects

·; 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

·; 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

·; An option/joint venture agreement with Turkish company Aydeniz Group to fast-track drilling at the Muratdere copper-gold porphyry project in north-west Turkey

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

·; 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 eleven of the Afar prospects. Thani Ashanti can earn 51% of the 5 EEL's in Ethiopia and 6 EEL's in Djibouti (collectively the 'Afar Joint Venture') by spending US$3 million on exploration and development over two years. 3,000 m drilling programme expected to commence in mid-April at the Megenta project

·; 3,554 sq km land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti, collectively named as the Afar Depression Project, including Megenta, Asal and Mille-Serdo

·; 5.14% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc ('Sheba')

·; Ajoint venture with Sheba to (i) earn-in to an initial 60% of the prospective 29 sq km Shehagne gold project in Ethiopia, and (ii) explore targets in northern Ethiopia on a 70:30 joint venture basis

·; Berahale and Gademsa EEL's cover a combined area of 1,244 sq km in northern and central Ethiopia respectively and are prospective for gold and base metals