West Africa Update

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

Stratex International Plc

('Stratex' or the 'Company')

West Africa Update: New Gold Target at Dalafin License in Senegal and Drilling to Commence Early 2013

Stratex International plc, the AIM-quoted exploration and development company operating in Turkey, East Africa and West Africa, is pleased to provide an update on the Company's portfolio in Senegal, where the Company is earning-in to 75% of the Dalafin Exclusive Exploration License (EEL).

Highlights

·; Stratex has now exercised its option to vest 51% of Dalafin gold EEL in eastern Senegal - 636 sq km of highly prospective terrain in the centre of the Birimian Kédougou-Kenieba gold belt which has already seen multiple major gold discoveries

·; Results of extensive soil and rock-sampling programmes have now led to a detailed understanding of the Konkonou, Baytilaye, Saroudia, and Madina Bafé areas and the identification of a fifth target area - Faré

·; Results integrated with high-resolution airborne geophysical survey (magnetic and radiometric) data to generate multiple drill targets

·; Rotary Air Blast ("RAB") drilling due to commence in January 2013

·; In Mauritania reconnaissance visits to each licence have been completed, Environmental Impact Notes submitted and mapping and outcrop sampling continues on the Azrag licence

Commenting, Stratex CEO Bob Foster, said: "Progress continues to be made by our team working on the Dalafin project in eastern Senegal. Our continued soil geochemical surveys and other reconnaissance studies have now identified a total of five priority areas. The results of the recently completed airborne geophysical survey have allowed us to interpret the associated geochemical anomalies with a much greater degree of confidence and we will commence a substantial drill programme on the five targets early in the New Year.

"We have also completed reconnaissance work on all four licences in Mauritania and are commencing soil geochemical programmes over the most promising target areas."

Further Details

Following the acquisition of Silvrex, a private company incorporated in the UK with a prospective gold portfolio in Senegal and Mauritania, Stratex has undertaken extensive soil-geochemical surveys in the Dalafin licence in eastern Senegal and this work has been reinforced by the completion of a high-resolution geophysical (magnetic and radiometric) survey and additional infill geochemical surveys to pinpoint specific areas of interest. Reconnaissance studies of the Company's four licences in Mauritania have also been completed.

Senegal - Dalafin

Following preliminary identification of four areas of interest within the 636 km2 licence - Konkonou, Baytilaye, Saroudia, and Madina Bafé (press release dated 20 August 2012) - an additional area, Faré, has also been identified. Previously reported results, together with the latest geochemical data integrated with the geophysical survey data, are summarised below. Geochemical anomalies in soil, where identified below, have been defined at >15 ppb Au, a lower limit defined by 3 x analytical detection limit. Experience in similar terrains elsewhere in West Africa has demonstrated that values above 15 ppb Au are very significant.

Faré

·; A weak soil-geochemistry anomaly, originally identified from a regional geochemical survey undertaken by the BRGM, was followed up and proved to be related to extensive gold diggings (orpaillages) along several kilometres of the Faré River that drains towards the SE from the soil anomaly area. The anomaly trended NE-SW along the regional strike, recognised as a potentially important structural orientation for gold mineralisation in the wider area.

·; Stratex's recent soil survey has confirmed and extended the anomaly, with a number of significantly higher values recorded, up to a maximum of 229 ppb Au.

·; The anomaly extends at least 4 km along the NE-SW strike, is up to 300 m wide and remains open along strike in both directions.

·; Further geochemical sampling is being carried out to establish the full extent of the anomaly.

Konkonou

·; Identified initially from the regional geochemical survey and the presence of extensive orpaillages along the Konkonou stream

·; A prominent NNE structural grain, with NE cross-structures also apparent from the magnetic data.

·; A geochemical anomaly in soils, with values up to 1,167 ppb Au, loosely aligned with the NNE trend over a strike length of approximately 2,000 m.

Baytilaye

·; Soil-geochemistry surveys have defined two strongly anomalous zones in this area. One aligned along a prominent NNE trending lithological (defined by rock type) and structural trend in the western part of the study area and a second zone in the east related to both NNE and NE trending structural corridors.

·; The western anomaly extends NNE for a distance of at least 2,000 m and further soil sampling is planned to determine whether the anomaly extends a further 5,000 m to link up with the Konkonou anomaly, which appears to be associated with the same lithological and structural zone.

·; Exploration work reported previously in this area (press release dated 20 August 2012) identified a NNE to NE-striking 5 m wide quartz vein assaying 3.79 g/t Au and trenching within the same zone that returned multiple values >0.1 g/t Au and a maximum of 1.23 g/t Au.

·; In the eastern area, anomalous gold-in-soil values define a 12,000 m-long NE-SW trend that intersects a 10,000 m-long NNE trend, both related to prominent structural corridors as defined by the geophysical survey. A number of high-order gold values have been returned with a maximum of 392 ppb Au.

Saroudia

·; Previous termite mound sampling had shown a number of gold anomalies that were not especially coherent but occurred over a total area of about 4,000 m by 3,000 m. This was confirmed by the follow-up soil-sampling programme, with anomalous gold values occurring intermittently over an area of 5,000 m by 4,000 m.

·; Within the broadly anomalous area, five zones of more-focused anomalism have been identified and these are broadly associated with NE and ENE trending structural trends revealed by the magnetic survey.

·; Previously reported pitting across one anomaly yielded assays of 0.23 g/t Au and 0.32 g/t Au from sampling of adjoining pits but trenching only exposed weak gold enhancement to

Madina Bafé

·; Extensive veining in this area has been reported previously (press release dated 20 August 2012) and one sample from an artisanal pit returned a value of 18.6 g/t Au.

·; The recent geochemical results have shown two major areas of anomalous values that again appear to be associated with both NE and NNE trending structural corridors.

·; The western zone extends approximately 2,500 m N and is approximately 600 m in width. Although roughly coincident with a granite contact to the east, the anomaly may also be controlled by the presence of a structural transfer zone between two NE trending structures.

·; The eastern zone comprises two interlinked anomalies, one extending approximately 1,500 m NE and the second trending NW for approximately 1,200 m-long zone but the prominent structural controls again appear to be NE and NNE trending.

Following a review of all the target areas, a significant programme of RAB drilling should commence in January 2013.

Stratex has exercised its option to vest 51% of the Dalafin joint venture, having met the required expenditure level, and now has the option to spend a further US$1.5 million to acquire an additional 24%, for a total of 75%.

Mauritania

Following the original review of the licences based on satellite imagery, reconnaissance mapping and outcrop sampling of the four licences continues and soil sampling over the Azrag licence will commence shortly. The Company should be in a position to provide a full update on the Mauritania programme by the end of Q1 2013.

For more information on our West African projects, please visit:

http://www.stratexinternational.com/operations/exploration/west-africa.aspx

For a glossary of technical terms, please visit:

http://www.stratexinternational.com/investors/technical-glossary.aspx

Sampling, assaying, and QA/QC

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 Mali and the Company maintains QA/QC on all analytical work via the use of certified reference materials, preparation duplicates, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

Dr Bob Foster, CEO, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

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

Notes to editors:

Stratex International is an AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.

It currently has a substantial portfolio of projects, with Altıntepe in Turkey that is scheduled for gold production in 2013. To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper.