Rox Resources (RXL) Status update summary

Transition to development and financial position

• Transitioned from explorer to developer with AUD 57 million in cash reserves, following a successful AUD 40 million placement.

• Clear plan communicated to move into gold production, aiming to de-risk the business and deliver shareholder value.

Youanmi Gold project highlights

• Historical site with over 670,000 ounces mined at 5.4g/t; dormant until recent acquisition and resource expansion.

• July 2023 PFS outlined an eight-year mine life, 100,000+ ounces per year, and over AUD 2 billion in projected cash flow at current gold prices.

• All-in sustaining costs under AUD 1,700/oz, placing it in the industry's lower quartile.

Resource growth and upcoming milestones

• Current resource base is 2.3 million ounces at 4.4g/t, with 47,000 meters of drilling completed since January 2023.

• Mineral Resource Estimate (MRE) update expected in July 2024, anticipated to be significant.

• Dewatering updates, metallurgical results, and ongoing drilling news expected through mid-2024.