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

Stratex International Plc 

(“Stratex” or “the Company”) 

Dalafin Exploration Update – Further Mineralisation Identified at Faré and Baytilaye Prospects

Stratex International Plc, the AIM-quoted exploration and development company focused on gold and base metals in Turkey, East Africa and West Africa and in Turkey, where it holds a 45%-interest in a producing gold mine, is pleased to provide an exploration update on its 85%-owned Dalafin gold project (“Dalafin” or the “Project”) in eastern Senegal.

Highlights

· Infill soil sampling at the Faré prospect has extended the Faré South anomaly (>30 ppb) by at least 750 metres to the south-west;

· 1,250 m NW-trending anomaly (10-60 ppb) identified in Grid 1, to the east of Faré South;

· Outcrop sampling at the Baytilaye prospect has returned best results of 1.6 g/t Au from Baytilaye East and 1.37 g/t Au, 1.23 g/t Au, and 0.92 g/t Au from Baytilaye West;

· All data, including previous positive drill results for Madina Bafé, currently being reviewed with a view to further exploration.

Bob Foster, Stratex Chief Executive Officer commented: “The ongoing exploration at Dalafin has delivered some encouraging results, most notably the potential south-west extension of the Faré Zone and the newly identified zones of mineralisation in the Baytilaye prospect. These two targets, plus the wide zone of mineralisation previously identified in the Madina Bafé prospect, merit further investigation and ultimately will need to be drill-tested. Not surprisingly, given its location, in the heart of the gold-endowed Kédougou-Kéniéba Inlier, our exploration is continuing to demonstrate the prospectivity of the Dalafin licence area.”

Further Details

During Q1-2016, the Company completed a low-cost exploration programme, comprising mapping, soil sampling, and outcrop and lag sampling, at its Dalafin project in Senegal. At the Faré prospect, 1,136 soil samples were collected across four 250 m x 50 m grids in the vicinity of the Faré South Zone (see map at http://www.stratexinternational.com/project/dalafin) to assess possible SW-trending extensions, as well as the importance of a NNW-trending breccia zone identified during the Phase 2 reverse circulation (“RC”) drilling campaign (Announcement dated 19th January 2015). The most significant results yielded were from Grid 3, which clearly show south-westward extension of the Faré South anomaly (>30 ppb) by at least 750 metres and up to 600 m in width. A possible new gold anomaly (10-60 ppb) has also been identified in Grid 1, extending 1,250 m in a NW-SE direction, and this may correlate with NW-trending structures identified elsewhere in the licence area. Multiple, albeit less distinct, NE- and NW-trends are also evident in Grid 4, with a number of samples yielding 30-60 ppb and >60 ppb.

During the quarter, the Company also undertook detailed mapping of two key targets within the Baytilaye prospect (Baytilaye East and Baytilaye West) on the basis of previous anomalous rock and soil samples. Three phases of shearing have been identified. The apparently later ENE-trending shear orientation (dipping 70-80º SSE) is considered the most important, with gold mineralisation associated with quartz-tourmaline veins at the lithological contact between granitoid rocks and sedimentary units.

During the mapping, 137 outcrop samples and 19 lag samples were also collected. Best outcrop sample results include 1.6 g/t Au from a brecciated quartz vein at Baytilaye East and 1.37 g/t Au, 1.23 g/t Au, and 0.92 g/t Au from strongly sheared quartz (+/- tourmaline) veins at Baytilaye West. No significant results were returned from lag sampling.  

In August 2015, the Company also reported that trench sampling at Madina Bafé had defined a 30-45 m-wide zone of sheeted tourmaline-quartz veins and breccias over a strike length of 1.2 km and within a granodioritic host (Announcement dated 11^th August 2015). This work was undertaken to follow-up on previously reported diamond drill and RC intersections - including 9.6 m @ 16.08 g/t Au and 15.0 m @ 6.10 g/t Au respectively (Announcement dated 16^th July 2014) – that indicated depth continuity to the system. 

The Company is currently reviewing all data with a view to drill-evaluation of the south-west extension of the Faré Zone, of the Madina Bafé sheeted vein zone, and of the gold-bearing quartz-tourmaline veins of Baytilaye East.  

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 for material sampled in this campaign was undertaken by Bureau Veritas Mineral Laboratories in Cote d’Ivoire, using an aqua regia digest/AAS finish with a detection limit of 2 ppb for soils and fire assay finish with a detection limit of 5 ppb for rocks.

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

Dr Bob Foster, Chief Executive Officer, 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:

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 achieved first gold pour at its 45%-owned Altıntepe gold mine in Turkey in November 2015 and recently sold its 1% Net Smelter Returns royalty in the Öksüt gold project for US$4.5 million. It also owns 14.87% of a copper-gold project at feasibility stage. With its current cash position, projected cash returns and no debt, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.