Stratex International plc, the AIM-quoted exploration and development company, announced a revised in-house JORC-compliant gold resource estimate for its Altıntepe Project in Turkey, and to report on the Company's strategy for ensuring a successful and rapid move to production at the Project.

Overview

• New in-house resource estimate for Altıntepe increases total contained gold to 593,131oz from 574,013 oz based on infill drilling of the Kayatepe and Extension Ridge zones
• Excellent gold grades confirmed in oxide (1.8-2.1 g/t Au) and transition material (1.7-2.4 g/t Au) at Extension Ridge and Kayatepe zones
• Measured and Indicated oxide and transition material now accounts for approximately 90% of the resource in the two zones
• Stratex resumes 100% interest of the Project - Turkish partner NTF was unwilling to commit to a feasibility study at Altıntepe before start of production at Stratex's first gold production project at Inlice in Turkey in 2012
• Discussions have commenced with another Turkish company with extensive construction and mining expertise with a view to advancing Altıntepe to production by 2013

Stratex CEO Bob Foster said, "We are delighted that infill drilling of the Kayatepe and Extension Ridge zones at Altıntepe has produced an increased JORC-compliant resource estimate total for the Project of 593,131oz of contained gold and, equally importantly, an upgraded resource with approximately 90% of the gold in these two zones now contained in the higher-confidence Measured and Indicated categories. We also now have a much clearer idea of the nature of the transition zone between oxide and sulphide material, a factor that is critical to the future mine planning of Altıntepe.

"Our original partners NTF, who continue to manage our first Turkish gold production project at Inlice with a 55% interest, have advised that they are unwilling to commit to a feasibility study on Altıntepe before Inlice comes into production in 2012. We fully understand NTF's rationale but due to our commitment and confidence in the Altıntepe project we declined to agree to its request to defer the study. We have therefore opened discussions with another Turkish company, highly experienced in gold mining and processing, which had expressed an interest in Altıntepe previously. The new company has indicated that its objective would be to fast-track the Project into gold production by 2013 subject to reaching agreement on terms and permitting. We look forward to updating shareholders on these developments in due course."

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