Result of Open Offer

14 August 2015

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 Open Offer

On 23 July 2015, the Board of ZincOx Resources plc (AIM: ZOX), the developer and operator of one of the largest Electric Arc Furnace Dust recycling facilities in the world, announced details of a Placing of 16.1 million new Ordinary Shares at 13p with gross proceeds of approximately £2.1 million and a proposed Open Offer to existing shareholders of new Ordinary Shares at a price of 13p to raise up to approximately £1.1 million.

The Open Offer closed for acceptances at 11.00 a.m. on 13 August 2015. The Company received valid acceptances in respect of 2,854,709 Open Offer Shares and 4,636,369 shares under the Excess Application Facility. The total number of new shares under the Open Offer amounted to 7,491,078 new Ordinary Shares which is approximately 86 per cent. of the new Shares available so that the Company has raised gross proceeds of approximately £1.0 million through the Open Offer.

The gross proceeds of the Placing and Open Offer comes to approximately £3.1 million.

Application has been made to AIM for the admission of the Open Offer Shares. It is expected that Admission will become effective at 8.00 a.m. on 18 August 2015 following the General Meeting. The Open Offer is being made utilising the existing authorities taken by the Company at its Annual General Meeting held on 22 May 2015.

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' shareholdings and percentage interests in the issued share capital of the Company following Admission, for shares taken up by Directors in both the Placing and Open Offer:

*Gautam Dalal received 354,861 shares under the Excess Application Facility, but only after all other applications under the Facility had been satisfied.

The new Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on 18 August 2015 and definitive share certificates for the new Ordinary Shares (in certificated form) are expected to be despatched to certificated shareholders by 25 August 2015.

The Company's issued voting ordinary share capital currently comprises 182,422,341 Ordinary Shares of 1 pence each. Following Admission of the new Ordinary Shares and in accordance with Disclosure and Transparency Rules, the Company's issued voting ordinary share capital will comprise of 189,913,419 Ordinary Shares of 1 pence each.

The figure of 189,913,419 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 Placing Announcement and/or "Circular" published by the Company on 23 July 2015.

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