Sheba Exploration (UK) plc
LSE : SHE

September 16, 2010 04:03 ET

Operational Report 38: Bedrock gold mineralization extended to 1.3 kilometres at Shehagne EEL in Northern Ethiopia

                                                                            GB00B02WHQ80/GBP/PLUS-exn
                                                                                          16/09//2010
                                                  
                                     Sheba Exploration (UK) Plc
                                                  
                                     ("Sheba" or the "Company")
                                                  
  Operational Report 38: Bedrock gold mineralization extended to 1.3 kilometres at Shehagne EEL in
                                          Northern Ethiopia
                                                  
Sheba  Exploration  (UK)  Plc, a Plus quoted gold and base metal explorer, are  pleased  to  announce
further  exploration  progress  made by Stratex International Plc,  the  AIM-quoted  exploration  and
development (E&D), at the joint Shehagne project in northern Ethiopia, which has led to a significant
extension of the mineralized Tsemmetti zone.

Highlights reported by Stratex

- Channel-chip  sampling completed across the main Tsemmetti zone has extended bedrock mineralisation
    by 440 m to a total 1,340 metres - mineralisation remains open to the southwest

-  Sampling results include:

        -  24 m grading 0.92 g/t Au
        -  36 m grading 0.92 g/t Au
        -  9 m grading 2.49 g/t Au

-  Maximum  grade of 52.5 g/t Au yielded from selective vein sample located at the extreme  southwest
    end of the Tsemmetti Zone

Stratex's  Executive  Chairman David J. Hall said, "We are encouraged by these  latest  results  from
Shehagne  which  extend an already strike-extensive gold vein system to more  than  a  kilometre  and
suggests a potential for bulk mineable mineralisation. With this in mind we are reviewing the  option
to undertake reconnaissance drill-testing of the zone"

The Directors of Sheba are pleased with the progress being made by Stratex on Shehagne EEL.

Detailed    information   on   the   announcement   can   be   found   on   the    Stratex    website
http://www.stratexexploration.com/

The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.

Enquiries:

Contact Details:
Sheba Exploration (UK) Plc
Richard Brooker                                          Tel: 00 353 87699 8401

St Helens Capital Partners LLP                           Tel: 020 7368 6959
Mark Anwyl or Duncan Vasey

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