Stratex International plc announced a positive update with regards to its interests in the prospective Tigray State province in northern Ethiopia which includes the 967 sq km Abi-Adi Gichke Gold Project, owned by Loz-Bez Mining Ltd, and the Company‟s wholly owned 923 sq km Tigray Exclusive Exploration Licence.

• High-grade gold-silver („Au-Ag‟) mineralisation has been identified at AbiAdi during a due diligence programme comprising 212 rock samples

1. 43% graded greater than 0.1 g/t Au and 16% greater than 1 g/t Au
2. 5% greater than 100 g/t Ag
3. Gold grades up to 48.9, 39.3 and 23.6 g/t Au in quartz veins
4. Silver grades up to 470 g/t, 577 g/t and 618 g/t Ag within same quartz veins
5. Gold bearing quartz-vein system identified over a strike length of 2.86 km with vein widths of up to 8m
6. Stratex agreed to exercise the option to earn 75% of project from Loz-Bez to fast-track AbiAdi towards drilling – extensive rock sampling programme to commence Q2 2011 

• Identified „Mariam Hill‟ gold discovery at Tigray EEL – regional work to continue during 2011

1. Selective rock-chip sampling of the veins yielded up to 8.65 g/t Au, 205 g/t Ag, 0.12 % Cu and 1.32 % Pb from a single rock-chip sample

Executive Director David Hall commented, “These excellent results from AbiAdi underpin the exciting prospectivity of the Tigray region of northern Ethiopia and highlight the potential of our increasing project pipeline in the region. Geologists have defined a significant corridor of high-grade gold-silver mineralisation which extends over a strike length of nearly 3km, which bears similarities to Chalice Gold‟s Zara deposit in Eritrea, which has defined circa 840,000oz gold grading 5.3 g/t Au where, the mineralisation is likewise hosted by granite which is brecciated and quartz veined over widths up to 20m. The presence of multi-ounce silver with the current silver price above US$30/oz enhances the potential economics if the project moves along to development as we hope it will. Based on these encouraging results, and the wider potential of the licence area, we will exercise our option to continue work at AbiAdi to further delineate mineralisation so that we may rapidly progress the project to a drill-ready status before the end of the year. The discovery at Mariam Hill is intriguing, showing a similar association of gold with lead in quartz veins and we look forward to examining this further.”

AbiAdi Licence

The AbiAdi licence is located in the Tigray region of Ethiopia approximately 55km west-northwest of the regional capital of Mekele. The licence occurs within the highly prospective Arabian Nubian Shield, which hosts several world-class precious and base metal deposits.

The geology of the key prospect, Gidemi Berashua, is dominated by a series of granitoid dikes and/or sills hosted within deformed slates (phyllites). Gold and silver mineralisation, which is closely associated with galena (lead sulphide), is hosted within three generations of quartz veins, which form a quartz-vein system that is continuous over a distance of 2.86km. The individual veins vary in thickness from sub-centimetre to 8m. In addition to the gold/silver mineralisation, arsenic, antimony, lead and copper are all highly elevated within the quartz veins.

AbiAdi Results

The due diligence exploration programme saw a total of 212 rock samples collected, of which 43% graded greater than 0.1 g/t Au and 16% greater than 1 g/t Au. Furthermore, 5% assayed greater than 100 g/t Ag with some exceptionally high grades (refer below).

Highlights are as follows:

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