Grant of Options

ZincOx Resources plc

("ZincOx" or the "Company")

Options Granted

ZincOx, the developer and operator of one of Asia's largest zinc recycling plants, announces that on 28 January 2015 the Directors of the Company and certain other employees were granted options to subscribe for ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a subscription price of 10 pence per Ordinary Share. The number of Ordinary Shares under option and performance share plan awards ("PSPs") granted to each director were as follows:

All options granted are subject to a three year vesting period and the satisfaction of a performance condition before they can be exercised. 

A total of 2,937,500 options and PSPs were granted under the above schemes to Directors and employees, representing 1.77% of the issued share capital. The total number of options and PSPs in issue, following the grant, are 16,089,462, representing approximately 10% of the issued share capital.

The Remuneration Committee of the Board considers that the award of these options is in line with the Company's policy of providing incentives to its senior management as part of its objective of becoming a major zinc recycling company.

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