Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

21 February 2011

Stratex International plc ('Stratex' or 'the Company')

High-Grade Gold-Silver Mineralisation Identified at AbiAdi Project and Mariam Hill Discovery at Tigray Licence

Stratex International plc is pleased to announce 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 ('AbiAdi'), owned by Loz-Bez Mining Ltd ('Loz-Bez'), and the Company's wholly owned 923 sq km Tigray Exclusive Exploration Licence ('EEL').

Highlights

• High-grade gold-silver ('Au-Ag') mineralisation has been identified at AbiAdi during a due diligence programme comprising 212 rock samples
  • 43% graded greater than 0.1 g/t Au and 16% greater than 1 g/t Au
  • 5% greater than 100 g/t Ag
  • Gold  grades up to 48.9, 39.3 and 23.6 g/t Au in quartz veins
  • Silver grades up to 470 g/t, 577 g/t and 618 g/t Ag within same quartz veins
  • Gold bearing quartz-vein system identified over a strike length of 2.86 km with vein widths of up to 8m
  • 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
  • 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:

These highly encouraging results justify Stratex's decision to exercise the option with Loz-Bez to acquire 75% of the project, and the Company will re-commence work in Q2 2011 with an extensive rock sampling programme throughout the Gidemi Berashua prospect. Work will also be undertaken on the wider 967 sq km licence, focussing initially on targets identified through a regional stream sediment sampling programme that was also undertaken as part of the due diligence process at the time Stratex entered into the agreement with Loz-Bez.

Further Information

Stratex International plc signed a Heads of Terms agreement with local company, Loz-Bez, on 11 November 2010. According to the terms of the agreement Stratex can earn up to 75% of the AbiAdi project following the expenditure of US$1 million including the completion of 3,000m of Diamond core drilling. Upon earning the 75% Stratex and Loz-Bez will form a joint-venture company and Stratex may then earn a further 10% by funding the project to a bankable feasibility study, for a total of 85%. Should Loz-Bez be unable to contribute beyond the point where Stratex has earned 85%, its equity interest will be reduced according to industry standard contribute or dilute formula and, if falling below 10%, it's interest will be reduced to a 2% net smelter royalty (NSR).

Based on the recent positive due diligence exploration programme, Stratex will be continuing exploration on the project, focussing primarily on the high-grade gold-silver mineralisation, building towards a first-phase drill programme and exercising its option to earn 75% of the project.

For more information on the Company's AbiAdi project, please see http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/abiadi.aspx

Arabian-Nubian Shield Targets - Tigray Licence

Exploration has also been on-going at Stratex's Tigray EEL, located in the northern part of the Tigray State and approximately 75km north of the AbiAdi project. The 923 sq km Tigray EEL is being explored, together with the adjacent Shehagne EEL, under the terms of an agreement with PLUS-quoted Sheba Exploration (UK) plc.

Regional work has comprised a licence-wide stream sediment sampling programme at a spacing of approximately 1 sample per 3 sq km.  The work has identified several discrete gold, silver, arsenic, antimony, tellurium, copper and lead anomalies, leading to the discovery of the Mariam Hill prospect.  The prospect comprises a large granodioritic intrusive body which is cut by a series of flat-lying quartz veins, typically 30cm thick and extending over several metres.  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.

Located on the eastern margins of the Mariam Hill prospect, and at the granodioritic contact, is a zone of sericite-altered tuffs which hosts a series of quartz veins approximately 5-10cm thick over a combined thickness of up to 10m.  These veins were channel-chip sampled and yielded the following continuous intervals:

�        7m at 0.82 g/t Au

�        10m at 0.23 g/t Au

Work is expected to continue later in the year, following up several outstanding stream sediment anomalies, and ground-truthing multiple Landsat-identified alteration anomalies.

For more information on the Company's Tigray project, please see http://www.stratexinternational.com/operations/exploration/ethiopia-djibouti/tigray.aspx

Sampling, assaying, and QA/QC

Stratex's sampling of outcropping rocks conforms to industry-wide good practice, with chain of custody being observed for all samples. Analysis is undertaken by ALS Chemex at its laboratories in Johannesburg, South Africa and the Company maintains QA/QC on all analytical work via the use of certified reference materials, field duplicates, and blank samples in addition to monitoring of internal laboratory check-analyses.

Executive Director David J. Hall, Fellow SEG and EuroGeol is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

** ENDS * *

For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:

Notes to editors:

Stratex International Plc is an AIM-quoted exploration and development company focussing on gold and base metal opportunities in Turkey, Ethiopia and Djibouti.

Turkey Portfolio

In Turkey, Stratex's prime objective is to move into gold production through its partnership with its Turkish partner NTF, with initial production targeted at its Inlice project by the first quarter of 2012 and at Alt�ntepe by early 2013. The Company also remains focussed on discovering and developing new projects through low-cost exploration, adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company.

• Total resources stand at 1.17 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver
• Partnership with NTF, a technically capable and well-financed Turkish company, to rapidly develop the 542,318 oz oxide gold resources present at the Inlice and Alt�ntepe projects
• An option/joint venture agreement with Centerra Exploration B.V., a wholly owned subsidiary of Centerra Gold Inc., to explore and develop the �ks�t project, a high-sulphidation gold discovery located in Central Anatolia
• An option/joint venture agreement over the Hasancelebi project, a high-sulphidation gold project in central Turkey with Teck Madencilik Sanayi Ticaret A.S., a Turkish subsidiary of Teck Resources Limited of Canada, a major shareholder in Stratex
• An option/joint venture agreement with Turkish company Aydeniz Group to fast-track drilling at the Muratdere copper-gold porphyry project in north-west Turkey

Stratex East Africa Ltd ('SEA') - Ethiopia and Djibouti Portfolio

• Stratex International has signed a binding Heads of Agreement with Thani Ashanti, an AngloGold Ashanti Limited joint venture company, to fast-track development of the eleven of the Afar prospects. Thani Ashanti can earn 51% of the 5 EEL's in Ethiopia and 6 EEL's in Djibouti  (collectively the 'Afar Joint Venture') by spending US$3 million on exploration and development over two years. 3,000 m drilling programme expected to commence in mid-April at the Megenta project
• 3,554 sq km land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti, collectively named as the Afar Depression Project, including Megenta, Asal and Mille-Serdo
• 5.14% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc ('Sheba')
• A joint venture with Sheba to (i) earn-in to an initial 60% of the prospective 29 sq km Shehagne gold project in Ethiopia, and (ii) explore targets in northern Ethiopia on a 70:30 joint venture basis
• Berahale and Gademsa EEL's cover a combined area of 1,244 sq km in northern and central Ethiopia respectively and are prospective for gold and base metals

Felicity Edwards

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