Result of General Meeting and Open Offer

29 November 2013

Not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States of America, Canada, Australia, The Republic of South Africa, Japan, New Zealand or Russia.

ZincOx Resources plc

("ZincOx" or the "Company")

Result of General Meeting and Open Offer

On 12 November 2013, the Board of ZincOx Resources plc, the developer of Asia's largest zinc recycling project (AIM: ZOX),announced details of a proposed Subscription of New Ordinary Shares, a proposed Placing of New Ordinary Shares and a proposed Open Offer of New Ordinary Shares to raise up to approximately £5.59 million in total.

At the General Meeting held earlier today, all Resolutions proposed in connection with the Proposals were passed by Shareholders.

The Open Offer closed for acceptances at 11.00 a.m. on 27 November 2013. The Company received valid acceptances from Qualifying Shareholders in respect of 3,620,341 Open Offer Shares, including applications for 993,932 Open Offer Shares under the Excess Application Facility. This represents approximately 49 per cent. of the maximum Open Offer Shares available under the Open Offer. The Company has therefore raised the gross proceeds of approximately £0.56 million through the Open Offer.

In addition, at an exchange rate of GBP1.00/US$1.6166, the IFC will subscribe for 15,963,412 Ordinary Shares.

Also following the Resolutions in relation to the Capital Reorganisation, the nominal value of each Ordinary Share is now 1p per share.

Application has been made to AIM for the admission of the Open Offer Shares, the Subscription Shares and the Placing Shares, aggregating to 32,113,913 New Ordinary Shares of 1p each. It is expected that Admission will become effective at 8.00 a.m. on 3 December 2013. The New Ordinary Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Ordinary Shares of 1p each.

The following table sets out the Directors' shareholding and percentage interest in the issued share capital of the Company following Admission, including shares taken up by Directors in the Open Offer:

The New Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on 3 December 2013 and definitive share certificates for the New Ordinary Shares (in certificated form) are expected to be despatched to certificated shareholders by 12 December 2013.

Following Admission of the New Ordinary Shares and in accordance with Disclosure and Transparency Rules, the Company's issued voting ordinary share capital is now comprised of 135,580,629 Ordinary Shares of 1 pence each.

The above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, ZincOx under the FCA's Disclosure and Transparency Rules.

All defined terms in this announcement shall have the meanings ascribed to them in the announcement and/or circular published by the Company on 12 November 2013.

For further information, please visit www.zincox.com or contact: