STRATEX IN DJIBOUTI – A CASE HISTORYDAVID J. HALL – Executive Director

These presentation slides (the “Slides”) do not comprise an admission document, listing particulars or a prospectus relating to Stratex International plc (“the Company”) or any subsidiary of the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The Slides and the accompanying verbal presentation are confidential and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose. 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MAY 2013 2

Disclaimer

Overview

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WHO IS STRATEX ?

Focussed on exploration and development of gold and high-value base metals, AIM-quoted STRATEX INTERNATIONAL is active in Turkey, East Africa and West Africa and, in the seven years since it was listed, has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver.

The Company has a successful track record in forming joint-venture partnerships with both successful local private companies and major international mining companies, including Antofagasta, Centerra and Teck in Turkey, and Thani Ashanti in East Africa.

Company Value - £24 Million Company cash - £17.5 Million

Redefining Exploration Success

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Stratex in Djibouti – invested over US$1.5 million to date

October 2009: Stratex discover epithermal gold in Afar in Ethiopia.

January 2010: First visit to Djibouti – meet with HE President Ismail Omar Guelleh

May 2010: Sign agreement for 5 EEL’s with Minister Moussa Bouh

October 2010: Field review with Dr. R. Sillitoe, world renowned consultant Joint venture with Thani Ashanti – introduce one of world’s largest

gold mining companies into Djibouti

June 2011: New Minister Natural Resources - Fouad Ahmed Aye

February 2012: Pandora discovery Oklila EEL

June 2012: Exploration suspended by Minister Fouad

September 2012: Work recommences

April 2013: New Minister #3 – HE Ali Jacoub Mahamoud

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Thani Ashanti – joint venture company (50:50) between Thani Group of Dubai and AngloGold Ashanti – world’s 3rd largest gold mining company.

Thani Ashanti funded first US$1.4 million to earn 51% of Stratex projects in Djibouti

Thani Ashanti now investing US$4 million per EEL to earn 70%.

Standard industry joint venture sharing early stage exploration risk

NOTE Exploration HIGH RISK – no guarantee of economic success

Djibouti no domestic mining industry

Stratex initially identified potential for gold mineralization

View shared by Thani Ashanti

Number of early stage discoveries to be tested by first pass drill programmes in 2013

Stratex-Thani Ashanti Joint Venture

Discovery Development Production

VALUE

TIME

High risk ExplorationUS$1M to US$20MNo cost to Djibouti

POSITIVE FEASIBILITY

FINANCING & START-UPCONSTRUCTION PROBLEMS

The E & DBusiness

The Mining Business

LONG TERM VALUE ADDED

For countries and companies

Resource definitionUS$10MPre-feasibilityTo Feasibility US$30MConstruction US$200M

Stratex-Thani-Ashanti At this point

The Exploration-Mining Value Curve

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Public policy factors that encourage or discourage investment include:

uncertainty concerning the administration of current regulations and environmental regulations;

regulatory duplication; the legal system and taxation regime; uncertainty concerning protected areas and disputed land

claims; Infrastructure; Socioeconomic and community development conditions; trade barriers; political stability; labour regulation; quality of geological database; and security, labour and skills supply, corruption and uncertainty.

Key Factors for Attracting Investment

TARGET 2 Million Ounce Contained Gold Deposit

In-situ value at US$1500/oz = US$3 Billion

Capital expenditure to build mine US$200 million

Production of 200,000 oz / annum at total production cost of US$1000/oz

Gross annual cash flow US$100 million

Djibouti state 5% plus 2% royalty = US$7 million per yearDjibouti tax revenues at 35% = US$35 million per year

Total of potential US$42 million per year direct income to Djibouti

PLUS employment, training, school and medical support for mine

ALL FINANCIAL RISK TAKEN BY THANI ASHANTI / STRATEX

SUCCESS BENEFITS EVERYONE - Republic of Djibouti, local population through employment,development of infrastructure, etc.

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What would a New Gold Mine mean to Djibouti?

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Pandora Prospect, Oklila Licence, Djibouti

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Pandora, Afar Project

Early channel sampling over main 1,500 m vein has identified wide gold-mineralised zones with multiple higher-grade intervals

Follow-up drilling anticipated Q3/Q4 2013 – timing dependent on logistics

11.91 g/t Au over 2.60 m (P-CH-22) 20.35 g/t Au over 1.90 m (P-CH-17)

15.42 g/t Au over 1.65 m incl. 27.10 g/t Au over 0.50 m (P-CH-4)

23.28 m @ 1.52 g/t Au (P-CH-29)

13.50 m @ 2.14 g/t Au (PS-CH-3)

18.31 m @ 1.43 g/t Au (P-CH-30)

13.90 m @ 5.75 g/t Au (PS-CH-4)

High-grade zones

65.7 g/t Au )

KEY

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Drilling - US$180 per metre - 5000m = US$900,000

Assays for gold, silver and other elements US$35/sample = US$175,000

Plus camp support - US$500,000

Local labour

First testing drill programme to cost excess of US$1,575,000

Drilling – Key to Exploration Success

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ONGOING REVIEW OF GEOLOGY AND GEOCHEMISTRY

FORMAL RECOGNISION OF JV BY MINISTRY; AWAITING NEW LICENCES FROM MINISTRY

PREPARE ROAD ACCESS AND CAMP SUPPORT AT OKLILA

FIRST PASS 5,000 METRE DRILL PROGRAMME IN Q3-2013 TO TEST PANDORA –

AIMS TO PROVE EXISTENCE OF ECONOMIC GOLD GRADES AT DEPTH ALONG 1,500 METRES STRIKE

INSHALLAH SUCCESS

LEAD TO MORE INVESTMENT

10,000 METRES OF ADDITIONAL DRILLING

DEVELOPMENT

DJIBOUTI’S FIRST GOLD MINE

The Next Steps in Djibouti

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Thank You!