Holdings in Company

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

7 February 2012

Stratex International Plc

('Stratex' or 'the Company')

AngloGold Ashanti and Thani Ashanti Maintain Equity Stakes in Stratex

Stratex International Plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey and East Africa, is pleased to announce that AngloGold Ashanti Ltd ('AngloGold') and Thani Ashanti ('Thani'), an AngloGold joint venture company, have subscribed for additional shares in the Company in order to maintain their equity stakes following the issue of shares for the acquisition of Silvrex Limited.

AngloGold has subscribed for 1,375,000 Stratex Ordinary shares at 8.0p raising £110,000. This increases their holding in the Company to 41,785,104 ordinary shares and maintains their percentage shareholding at 11.5%.

Thani has subscribed for 260,000 Stratex Ordinary shares at 8.0p raising £20,800. This increases their holding in the Company to 7,983,669 ordinary shares and maintains their percentage shareholding at 2.2%.

Stratex Chief Executive Bob Foster said, "We are pleased that AngloGold and Thani have again decided to support their investment in Stratex and maintain their equity stake. This continues to demonstrate their commitment to Stratex as well as their belief in our management team and business strategy."

Further Information

Under the terms of the original subscription agreements with both parties, AngloGold and Thani may participate in future fund raisings in order to maintain their equity stake. Such additional shares are to be issued at the same price as the future fund raising. In this case the subscriptions are in response to the issue of shares announced on 10th January 2012, for the acquisition of Silvrex Limited. The issue price is 8.0p per share, which represents a premium of 5% to the current mid-market price.

Application for the shares to be admitted to trading on AIM has been made and the shares are expected to be admitted on 10 February 2012. Following the issue of the shares, the total number of ordinary shares of 1p in the capital of the Company will be 362,684,813. This number may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules.

Under the AIM rules, the subscription by AngloGold constitutes an AIM Rule 13 related party transaction. The directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

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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 focusing on gold and base metal opportunities in Turkey, Ethiopia and Djibouti, 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 1.53 million oz of gold (combined oxide and sulphide gold) and approximately 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

·; 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 Egypt Limited (which recently acquired Sheba Exploration (UK) plc) to (i) evaluate the prospective 37 sq km Shehagne gold project in Ethiopia (now earned into 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

·; 3,853 sq km 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 first 11 prospects identified within the Afar Depression (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 mineralization 

Stratex interest in West Africa 

·; Stratex has acquired the entire issued share capital of Silvrex Limited. Silvrex is a private company incorporated in the UK with a gold portfolio in Senegal, where the company is earing-in to an eventual 75% of an exploration licence in the very prospective Kédougou-Kenieba area in eastern Senegal and Mauritania, where the company has acquired four exploration licences.