Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

ZincOx Resources Plc

Sedol 3112463

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Participation in placing

x

3. Full name of person(s) subject to thenotification obligation: iii

Höegh Capital Partners Services (Guernsey) Ltd.

4. Full name of shareholder(s)  (if different from 3.):iv

Citco Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

22 November 2012

6. Date on which issuer notified:

22 November 2012

7. Threshold(s) that is/are crossed orreached: vi, vii

12%-14%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

10,634,375

10,634,375

15,214,375

15,214,375

14.70%

GB0031124638

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

15,214,375

14.70%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Höegh Capital Partners Services (Guernsey) Ltd. shares are held by the companies: Vind AS (3,071,922 or 2.97%), Overstrom Investments Limited (94,252 or 0.09%), Astronomy Domine Investments Ltd (1,184,806 or 1.15%), Aequitas Investments Limited (10,463,418 or 10.11%), Brompton Cross IV Limited (206,370 or 0.20%), Brompton Cross V Limited (193,607 or 0.19%)

14. Contact name:

Ian Halliwell

15. Contact telephone number:

+44 (0) 1276 450100