Partial surrender report for the period 30 March 2011 to 20 June 2012

Abstract

The Marqua Project in the Northern Territory is located 400km east of Alice Springs and 300km southwest of Mount Isa. The area is highly prospective for minerals, with known occurrences of phosphate, base metals and uranium. Rox Resources Limited now holds three contiguous Exploration Licences in the area, EL 28275, EL 28276, and EL 28611. This report covers the relinquished portion of EL 28276 from 30 March 2011 to 20 June 2012 the date the surrender was effected. Previous exploration of the adjacent area (EL 28275) has identified five phosphate prospects over a strike length of 30 km with outcrops grading up to 39.4% P2O5 along the phosphorus bearing Cambrian age Thorntonia Limestone. These prospects occur near the southern extent of the Georgina Basin, which is rapidly becoming Australia's major hard-rock phosphate province. After field mapping and prospecting, areas not considered prospective for phosphate or base metal mineralisation on EL 28276 were surrendered. The surrender represents 50% of the original licence area.