Ministry Approves Dalafin Agreement

Stratex International Plc

('Stratex' or 'the Company')

Ministry Approves Dalafin Agreement

Stratex, the AIM-quoted gold-focused exploration and development company in Turkey and Africa, is pleased to report that, further to its announcement on 1 March 2018, it has received governmental approval in Senegal for its Option Agreement with AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of IAMGOLD Corporation ("IAMGOLD"), in respect of the Dalafin gold project (the 'Project') in Senegal.

This was the only condition in respect of the Option Agreement and Stratex and AGEM will now head to site to fast-track exploration at the Project. The initial work programme will focus on the southernmost Madina Bafé prospect, located 12 km to the west-southwest of IAMGOLD's Boto Project ('Boto'), which has NI 43-101 Indicated and Inferred Resources of 1.92 Moz @ 1.6 g/t Au and 0.59 Moz Au @ 1.7 g/t Au, respectively, including a Probable Mineral Reserve of 1.42 Moz @ 1.6 g/t Au[1]. As previously announced, the work programme will

primarily look to prove the continuity of high-grade mineralisation at depth and along strike, with the intention of developing resources for either a stand-alone deposit(s) or a satellite deposit(s) for Boto. Exploration may also be extended to other areas within the licence, including the Faré prospect, where the majority of work to date has been focused.

Tim Livesey, CEO of Stratex, commented:

"We are delighted to have had this agreement formalised so quickly by the Ministry, enabling the work programme at Dalafin to begin in earnest. We look forward to working with IAMGOLD and to keeping our shareholders updated on ongoing developments at the Project."

[1] http://www.iamgold.com/English/operations/reserves-and-resource-summary/default.aspx

** ENDS **

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please visit www.stratexinternational.com, @StratexPLC on Twitter, 

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Notes to Editors:

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns an exciting exploration project in Senegal on which it has signed an option earn-in agreement with IAMGOLD and 14.87% of a copper-gold project at feasibility stage in Turkey, which will likely default to a 1.2% (post-Turkish tax) royalty position during H1-2018. The Company also has significant interests in Thani Stratex Resources Ltd, Tembo Gold Corp. and Aforo Resources Limited for their exploration projects in Djibouti and Egypt, Tanzania and Burkina Faso, respectively. The Company is currently pursuing value-accretive opportunities within its existing portfolio as well as identifying new value-appropriate projects in Africa and Europe.