Stratex International Plc has signed an option/joint venture agreement with Centerra Gold Inc to advance its 455 sq km Altunhisar gold project in central Turkey.

Highlights

• Centerra to fund US$1.5 million to acquire a 51% interest in the Project within three years
• Minimum expenditure of US$500,000 committed to exploration in year 1
• Option for Centerra to increase its interest to 75% by expending an additional US$2 million within the subsequent two years
• Multiple high-sulphidation systems already identified at the Project with porphyry potential also evident
• Stratex to manage the initial exploration programme

Stratex CEO Dr. Bob Foster said, "Working with Centerra on our Turkish Öksüt gold project we have developed an excellent professional relationship and we are delighted that this is now being extended to the Altunhisar Project. Our exploration work at Altunhisar in 2008 identified at least five substantial areas of hydrothermal alteration focussed on high-sulphidation gold systems that are characterised by anomalous gold and other trace elements. One of these, Karanlikdere, is also characterised by high molybdenum values and the presence of porphyry-type quartz veinlets. The various alteration zones are very extensive and merit the detailed follow-up exploration that this funding will allow us to undertake.

"The financial and technical support provided by Centerra enables us to fast-track the evaluation of these extensive mineralised systems. We anticipate drilling at least two targets later this year or early during the 2012 field season and look forward to updating shareholders on our progress."

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