Robex Resources Inc.

Robex Resources Inc.

August 09, 2007 12:35 ET

Robex exercises its option on Sanoula

MONTREAL, QUEBEC--(Marketwire – Aug. 9, 2007) - Robex Resources Inc (TSX-V: RBX) is pleased to announce that it has exercised its option to acquire a 51% interest in the Sanoula property, West Mali, West Africa. Sanoula is located south of the Yatela (reserve of 275Koz Au) and Sadiola (reserve of 1,7Moz Au) mines and north of the Loulo mine (reserve of 7Moz Au), along the same Senegalo-Malian shear zone. Drilling along this shear zone, within the Sanoula permit, yielded promising gold results in mineralization typically found at the Loulo gold mine. Robex had the right to acquire this 51% interest after having filled its commitment to:

  • make an initial cash payment of US $75,000 (2005);
  • spend US $725,000 in exploration work over a three-year period;
  • make a payment of US $100,000, half in cash and the other half by the issuing of 280 446 shares.
The Company can acquire the remaining 49% interest until February 28, 2008, by doing a cash payment of US $ 240,000. Subject to the approval of regulatory authorities.
ON BEHALF OF THE BOARD Richard Savard, Geologist, President and CEO
%SEDAR: 00003615EF

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