Fox Resources Ltd

Published : June 11th, 2009

Capital Raising - Non-Renounceable Entitlement Offer

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10 June 2009                                                                                                                                                                                     

ASX / Media Announcement



Fox Resources Limited (ASX:FXR) is pleased to announce an upcoming one (1) for two (2) non-renounceable pro-rata entitlement offer (Entitlement Offer). A Prospectus for the Entitlement Offer has been lodged with ASIC. A copy of the Prospectus and an Appendix 3B is attached to this announcement.

The key aspects of the Entitlement Offer are as below:

?         Issue price of 13 cents for each new FXR share

?         One (1) free attaching option (exercisable at $0.30 cents and expiring on 30 November 2010) per one (1) new FXR share issued. Application will be made for quotation of the free attaching options

?         Record Date of 19 June 2009

?         Eligible shareholders who take up their full entitlement under the Entitlement Offer will have the opportunity to apply for additional new FXR shares (and free attaching options) that are not subscribed for in the Entitlement Offer (Shortfall Securities)

?         Issue of Shortfall Securities will be at the discretion of the directors

?         The Entitlement Offer will not be underwritten

The Entitlement Offer will result in the issue of up to 100,861,801 new FXR shares (and up to 100,861,801 free attaching new options) and will raise an estimated $13,112,034 if the Entitlement Offer is fully subscribed or, if not, all the Shortfall Securities are placed. The funds will be applied (after paying expenses of the Entitlement Offer) towards:

?         Continued Base metals exploration near mine to increase the Company?s current resources

?         Payment of creditors

?         Working capital for the Heap Leaching test work and operation

?         Working capital to pursue new and relevant opportunities.

The proposed timetable for the Entitlement Offer  is set out below:

Event                                                                                                  Date

Lodgment of Appendix 3B and Prospectus with ASX                        11 June 2009

Record Date for determining eligible shareholders                            19 June 2009

Prospectus dispatched to Shareholders                                             25 June 2009

Closing Date* 5:00pm (AWDT)                                                          14 July 2009

ASX notified of under subscriptions                                                   17 July 2009

Allotment and dispatch of transaction confirmation statements        22 July 2009

Commencement of trading in New Shares and New Options           23 July 2009

This timetable is indicative only and subject to change.  Subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules, the FXR Directors reserve the right to vary these dates including the closing date of the Entitlement Offer, without prior notice.  The Directors also reserve the right not to proceed with the whole or part of the Entitlement Offer at any time prior to allotment.  In that event, application moneys will be returned without interest.  The Directors reserve the right to seek to underwrite the Entitlement Offer or allocate the Shortfall Securities to interested investors as the Directors deem appropriate.

Full details of the terms and conditions of the Entitlement Offer will be contained in the Prospectus to be lodged with ASX and dispatched to eligible FXR Shareholders in accordance with the timetable set out above.

Yours faithfully




Bruno Seneque

Managing Director


For further details please contact:
Bruno Seneque, Managing Director                                                  +61 8 9318 5600
Ryan McKinlay / Warrick Hazeldine ? Purple Communications       +61 8 6314 6300





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Fox Resources Ltd

ISIN : AU000000FXR8
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Fox Res. is a silver and gold producing company based in Australia.

Fox Res. develops silver, gold, cobalt, copper, nickel and palladium in Australia, and holds various exploration projects in Australia.

Its main asset in development is RADIO HILL (FOX) in Australia and its main exploration properties are ASHBURTON, RUTH WELL, WHUNDO and MT REGAL in Australia.

Fox Res. is listed in Australia. Its market capitalisation is AU$ 1.7 millions as of today (US$ 1.3 millions, € 1.1 millions).

Its stock quote reached its highest recent level on November 10, 2006 at AU$ 1.88, and its lowest recent point on March 24, 2016 at AU$ 0.00.

Fox Res. has 847 800 000 shares outstanding.

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10/27/2009Gold Rush on Fox's Tenement
8/25/2009Notice of Meeting 23 September 2009
8/4/2009 Announces Shortfall Placement
6/26/2009 Opens Share Entitlement Offer
6/17/2009Heap Leach Tests Deliver Exciting Results
6/11/2009Capital Raising - Non-Renounceable Entitlement Offer
5/18/2009Opens its Offer to Unlock Value in Hannans Reward Assets
2/12/2009Promising Assay Results From Radio Hill
2/4/2009New Exploration Results At Radio Hill
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