Results from Pandora Gold Vein, Djibouti

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

Stratex International Plc

('Stratex' or the 'Company')

Pandora Gold Vein, Djibouti, Returns up to 15.42 g/t Au over 1.65 metres

Stratex International plc, the AIM-quoted exploration and development company focussed in Turkey, East Africa and West Africa, is pleased to announce the first results from channel-chip sampling on the main Pandora epithermal gold structure, in the Oklila Exclusive Exploration Licence in the Republic of Djibouti, East Africa.

Highlights

·; 25 metre-spaced channel-chip sampling of Pandora vein system returned excellent assay results including:

·; 15.42 g/t Au over 1.65 metres including 27.10 g/t Au over 0.50 metres and 17.60 g/t Au over 0.65 metres; 

·; 3.35 g/t Au over 6.90 metres including 11.20 g/t Au over 1.00 metre

·; Sampling continuing over entire 1,500 metre-strike length of main Pandora structure

·; Pandora to be advanced rapidly to drill testing by end Q3 2012

David Hall, Executive Director East Africa, said: "Having just returned from the field in Djibouti, I must say that the Pandora structure is an impressive discovery. The combination of zone width, secondary associated structures and epithermal textures are very exciting and these first channel-chip sampling results clearly show encouraging grades and continuity at surface. The presence of chalcedonic silica with abundant calcite shows that we are high in the system similar to Megenta. The structure is locally masked by recent basalt cover but clearly extends for some 5 kilometres. With our partner Thani Ashanti, we have already started to investigate onsite logistics, including drill availability, and we anticipate commencing drilling before the end of the year. We will also continue to explore for similar systems in the Afar region."

Further Details

Stratex, with its strategic partner Thani Ashanti, has been undertaking further exploration in the Republic of Djibouti in East Africa.

Oklila EEL - Pandora

On 16th April 2012, Stratex reported the discovery of a new epithermal vein system, Pandora, during a helicopter reconnaissance programme with Thani Ashanti. Follow-up exploration has already commenced, including a 25 metre-spaced systematic channel-chip sampling programme over the main 1,500 metre-long vein, with an initial focus on the central portion of the vein, previously identified as a higher-grade zone extending over 500 metre [press release dated 16th April 2012]. Results from the first 8 channel sections cover an initial 200 metre strike length:

These results support previously reported assays from the initial 43 rock-chip samples [press release dated 16th April 2012], 26 of which returned greater than 1 g/t Au, with six samples greater than 9 g/t Au - 9.81, 9.97, 9.99, 10.05 13.85, and 25.9g/t Au.

The Pandora vein is up to 2.5 metres wide at surface and can be traced north-westwards for approximately 1.5 kilometres, partly concealed by wadi sediments, before it disappears under recent basalt flows. The vein occurs in a major fault structure that extends for at least 5 kilometres. Like the Company's Blackrock project in Ethiopia, the vein comprises classic epithermal colloform quartz with silica-replaced calcite in places. Brecciation and strong alteration is also observed in the immediate wallrock.

Channel-chip sampling is on-going over the entire 1,500 metre-strike of the main vein and results will be reported when they become available. It is anticipated that this work programme will result in the start of a substantial drill programme by Q4 2012.

Given the continuing success in the Afar region, Stratex and Thani Ashanti are also moving as quickly as possible to identify and acquire further mineralised systems in the Afar region of Djibouti.

For further information on the Pandora and other Afar Project prospects, please visit:

http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/afar-project.aspx

Sampling, assaying, and Quality Assurance / Quality Control

Stratex's sampling of outcropping rocks, drill core, and other geological materials conforms to industry-wide good practice, with chain of custody being observed for all samples. Gold analysis is undertaken by ALS Chemex at its laboratories in Romania and South Africa and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

David J. Hall, Executive Director East Africa, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information

* * ENDS * *

For further information please visit www.stratexinternational.com, email [email protected], or contact:

Glossary of Technical Terms

"calcite" a mineral composed of calcium carbonate

"channel-chip sample" a sample comprising small chips of rock collected across the face of a rock body or vein

"chalcedonic silica" a cryptocrystalline variety of silica with a compact fibrous structure and waxy

lustre

"colloform" semi-rounded, kidney-like texture

"epithermal system" formed from hydrothermal solutions within about one kilometre of the Earth's

surface in the range of 50-200 °C. Typically found in volcanic rocks; chief

metals are gold, silver, copper, lead and zinc

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company focussing on gold and base metal opportunities in Turkey, East Africa, 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 approximately 2.26 million oz of gold (combined oxide and sulphide gold) and 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. Resources here were recently expanded to 1,047,871 oz Au in Ortaçam and Ortaçam North zones at a cut-off grade of 0.2 g/t Au.

·; 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 plc to (i) evaluate the prospective 37 sq km Shehagne gold project in Ethiopia (Stratex has 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

·; A significant 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 Megenta discovery in Tendaho EEL and licences within Djibouti (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 mineralisation 

Stratex interest in West Africa 

Stratex has acquired the entire issued share capital of former private company Silvrex Limited (renamed Stratex West Africa Ltd), including its gold portfolio in Senegal, where the Company is now earning-in to an eventual 75% of an exploration licence in the highly prospective Kédougou-Kenieba area. The portfolio also includes four exploration licences acquired in Mauritania.