Rox Resources Ltd.

Rox Resources Ltd.

July 09, 2007 09:16 ET

Rox Resources Ltd. ("RXRS.PK") to Close Fox Mine Purchase; to Receive up to $150,000 in New Funds for the Company; Appoints Chief Technical Advisor; Receives "Speculative Buy" Recommendation

LYNN LAKE, MANITOBA--(Marketwire - July 9, 2007) - Rox Resources Ltd. (Rox or the Company) (PINK SHEETS:RXRS.PK) today announced the Company is moving to close The Fox Mine purchase. The Company has now received a preliminary environmental evaluation which sufficiently clarifies the corporations responsibilities and allows the Company to close the transaction as previously announced on June 26,2007.

Rox Resources Ltd. additionally wishes to announce that the Company has entered into a proposed Private Placement Agreement to receive up to $150,000 in new funds for the Company. The private placees will subscribe for 1,500,000 units of Rox Resources Ltd. Each unit of Rox consists of one (1) common share of the Company and one (1) share purchase warrant. The price of each common share will be $0.10: these shares will be subject to a statutory hold period. The share purchase warrants entitle the holder to acquire one (1) additional common share of Rox at a price of $0.15 for a period of eighteen (18) months following the close of the transaction. The placement will close in conjunction with the execution of The Fox Mine transaction. The Company anticipates the closing of the above mentioned activities on or before July 31st, 2007.

Rox Resources Ltd. additionally wishes to announce the appointment of Mr. John Steele as the Company's Chief Technical Advisor. Mr. Steele is a geophysicist receiving his education at the University of Toronto and at the University of British Columbia. His undergraduate courses were Honours Mathematics and Physics with a final year specialty in Geophysics. His Masters work involved marine magnetic surveys geology to prove Continental drift and his Ph.D work developed Maximum Entropy Power Spectral techniques as applied to large data sets. Mr. Steele currently acts as a Director for several mining Companies including Carlisle Goldfields Limited which is focused in Lynn Lake Manitoba. Carlisle is actively working towards bringing The McClellan Mine into production, amongst other initiatives.

Rox Resources Ltd. corporate mission is to acquire land claims with superior exploration potential and or past producing mining camps with above average economics.

Rox Resources Ltd. (PINK SHEETS:RXRS.PK) has been rated a "Speculative Buy" with a price target of $0.20 by Beacon Equity Research Analyst, Lisa Springer, CFA. The full report is available at

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-looking 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.

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