Rox Resources Ltd. (“RXRS.PK”) Renegotiates “Letter of Intent” to Acquire Four Properties Located in the Thompson Nickel Belt Near Wabowden, Manitoba
Rox Resources Ltd. (Rox or the Company)(PINK SHEETS: RXRS.PK) today announced that the Company has renegotiated on significantly better terms, it’s “Letter of Intent” to acquire four properties, located in the Thompson Nickel Belt, near Wabowden, Manitoba. All four properties have historic drill holes, which show significant; nickel, copper and Platinum Group Minerals (PGM’s). Rox Resources further anticipates that the Company will be able to announce the closing of the proposed transaction this month.
Rox Resources Ltd. will acquire 15 claims, spread over four properties which are: the SAM, TOP, BEST and BIRCH properties. This acquisition would represent a land package of approximately 25 square kilometers. The four properties are accessible by highway and have available power. Crowflight Minerals Inc. recently announced that construction is close to complete at their Bucko Lake Nickel Mine, and that they are expected to ramp up production in the remainder of 2008. Crowflight is located south of our TOP property and just east of our SAM property. Additionally, the Inco mining camp is located just north-west of our BEST property.
Falconbridge Limited, performed in 1993 a Horizontal Loop Electro Magnetic Survey (EM Survey) that highlighted the location of DDH 12-03 which showed 1.18% Ni/1.5ft. This EM survey is of importance in that we believe this confirms we are located within the same geologic structure consistent with our neighbours.
Additionally, we are pleased to announce that PK Geologic Services Ltd will begin the compilation work on the Fox Mine property. This compilation work will take a significant period of time as there is an abundance of geophysics and drilling data to be taken from a hard copy form to a computer based form.
Prospecting work will also begin concurrent with the data compilation and will initially involve whole rock analysis. Of note VMS Ventures Inc. is located adjacent to and south of the Fox Mine property along with Carlisle Goldfields Limited located to the east.
The Company is also pleased to announce that Rox Resources Ltd. will be featured in a business interview to be aired on October 20, 2008. http://ca.finance.yahoo.com/ then click: videos then click: Agoracom.
Rox Resources Ltd. Is a Nevada based junior mining company, whose corporate mission is to acquire land claims with superior exploration potential. Rox Resources Ltd. currently owns the Fox Mine south-west of Lynn Lake, Manitoba.
Statements contained in this news release, aside from those identifying historical facts, are ‘forward-looking statements’ within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the private Securities Litigation Reform Act of 1995. Such forward-thinking statements relating to the Company’s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contacts: Rox Resources Ltd. D. Mark Appleby (416) 804-0280 Email: email@example.com Website: www.agoracom.com/ir/rox
SOURCE: Rox Resources Ltd.