Disclaimer. Q

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1 GENERATE, DEVELOP, GROW 22nd October 2015

2 Disclaimer 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. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given by or on behalf of the Company, Northland Capital Partners Limited, or their respective shareholders, directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud). Any decision in connection with the purchase of shares in the Company must be made solely on the basis of the information contained in the Company s Admission Document dated 22 December 2005 and any other publicly available information relating to the Company. Accordingly, neither the Company nor its directors makes any representations or warranty in respect of the contents of the Slides. The Slides contain forward-looking statements, which relate, inter alia, to the Company s proposed strategy, plans and objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements. The Slides and their contents are directed only at persons who fall within the exemptions contained in Articles 19 and 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (such as persons who are authorised or exempt persons within the meaning of the Financial Services and Markets Act 2000 and certain other persons having professional experience relating to investments, high net worth companies, unincorporated associations or partnerships and the trustees of high value trusts) and persons to whom distribution may otherwise lawfully be made. Any investment, investment activity or controlled activity to which the Slides relates is available only to such persons and will be engaged in only with such persons. Persons of any other description, including those that do not have professional experience in matters relating to investments, should not rely or act upon the Slides. The Slides should not be distributed, published, reproduced or otherwise made available in whole or in part by recipients to any other person and, in particular, should not be distributed to persons with an address in the United States of America, Australia, the Republic of South Africa, the Republic of Ireland, Japan or Canada or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement. No securities commission or similar authority in Canada has in any way passed on the merits of the securities offered hereunder and any representation to the contrary is an offence. No document in relation to the Placing has been, or will be, lodged with, or registered by, The Australian Securities and Investments Commission, and no registration statement has been, or will be, filed with the Japanese Ministry of Finance in relation to the Placing or the Shares. Accordingly, subject to certain exceptions, the Shares may not, directly or indirectly, be offered or sold within Canada, Australia, Japan, South Africa or the Republic of Ireland or offered or sold to a resident of Canada, Australia, Japan, South Africa or the Republic of Ireland. The Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the US Securities Act ) or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any US Person as that term is defined in Regulation S under the US Securities Act. The Company has not been registered and will not register under the United States Investment Company Act of 1940, as amended. The Slides and their contents are confidential and should not unless otherwise agreed in writing by Northland Capital Partners Limited be copied, distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. Northland Capital Partners Limited has not authorised the contents of, or any part of, the Slides and no representation or warranty, expressed or implied, is made by as to any of its contents. Q

3 An Exploration Company with a Difference Altıntepe, Muratdere Turkey Listed on AIM in one of the few diversified plays Active in Turkey, Senegal and Ghana with investments in Ethiopia, Djibouti, Egypt and Tanzania Dalafin Senegal Thani Stratex Egypt, Ethiopia, Djibouti First gold pour imminent from 45%-owned gold mine 30%-owned copper-gold project at feasibility stage GoldStone Ghana Tembo Tanzania Focused on growing West African portfolio Debt free with recurrent cash-flow pending Experienced and respected management team Q

4 Strategy for Growth the Stratex Model GREENFIELD DISCOVERY PROJECT ACQUISITION JOINT VENTURE / STRATEGIC ALLIANCE ALTINTEPE MURATDERE CASHFLOW PROJECT STRATEX GENERATION PARTNERSHIPS DEVELOPMENT CONTINUED SUSTAINABILITY GROWTH Q

5 Generating Projects - Delivering Cash >50% of Stratex s funding to date has been generated via off-market financing strategies Over 2.26 Moz Au, 7.0 Moz Ag and 186,000 t Cu discovered to date Historical income 17 M from sale/partial sale of four key projects Inlice, Altintepe, Öksüt and Muratdere Future sources of income Cash flow from production at 45%-owned Altintepe (Q4-2015); Reduced financial exposure to market Minimal shareholder dilution Development of 30%-owned Muratdere coppergold-molybdenum project; and 1% NSR royalty from Öksüt project capped at US$20 M (anticipated from Q2-2017). Q

6 Cash-flow from Gold Production: Altıntepe, Turkey Altıntepe gold development project 593 koz Au, 3.2 Moz Ag total resource Incl. 491 koz Au oxide + transition Bahar Mining vested at 55% - Carrying all pre production capital costs No financial exposure to Stratex First gold pour anticipated Q Q

7 Cash-flow from Gold Production: Altıntepe, Turkey Stage 1 to recover c.110 koz oxide gold from Camlik East zone over 34 months based on resource of g/t Au g/t Au (130 koz) Potential 8-9 year total mine life as other zones are brought into production Camlık Camlık East N Extension Ridge Kayatepe 500 m Camlık East - section US$530/oz AISC previously estimated to deliver taxable operating income of US$74.7 M for Stage 1 Pre-production capital costs, including US$39 M of construction costs, funded by Bahar Stratex to receive 20% of free cash flow, moving to 45% once Bahar have recovered costs Q

8 Diversified Portfolio: Muratdere (Cu-Au-Mo), Turkey In-house resource of % Cu (186 kt), 0.12 g/t Au (205 koz) and % Mo (6 kt) Lodos completed feasibility as part of earn-in to 70% Initial optimised resource of 16 Mt resource (Ind. & Inf.) based on three-pit design using 0.3% Cu cutoff 16 Mt optimised pit design: 80,000 t 0.54% 48,000 oz 0.10 g/t 0.5 km Metallurgical flotation testwork of supergene material yielded 80% recovery of sulphide-copper with concentrates averaging 33.6% Cu Total net income after tax of US$90 M, IRR of 29%, and NPV of US$35.9 M at 7.6% discount Q

9 Conventional Exploration: Dalafin, Senegal sq km licence in prospective gold belt Stratex holds 85% equity in JV company 33,400 m RAB/AC drilling programme completed multiple mineralised zones intersected First phase RC and diamond drilling completed on four key gold targets excellent early results from Faré Trenching programme at Madina Bafé has identified m-wide mineralised zone over 1,500 m strike Q

10 Investment: GoldStone (AIM:GRL) 1.25 M cash injection completed November 2014 Stratex owns 33.45% and has warrants to go to 50.1% Christopher Hall and Bob Foster on GoldStone Board Review of assets and exploration in progress, including: 602,000 oz Homase/Akrokerri project, Ghana - exploration to add resources Manso Amenfi project, Ghana Sangola project, Senegal Ngoutou and Oyem projects, Gabon Homase/Akrokerri Project Located within the Ashanti Gold Belt (~70 Moz Au), adjacent to AngloGold Ashanti s 42 Moz Obuasi gold mine. Q

11 GoldStone Homase-Akrokerri Exploration Objectives: N Build on existing 100, g/t Au oxide resource Identify new drill targets in wider area Long-term potential of high-grade ore shoots at depth Total resource: Homase: 407, g/t Au Akrokerri: 195, g/t Au Tenement acquisition in major structural corridor Auger drilling over key targets has confirmed two new zones of mineralisation Q

12 Investment: Tembo Gold Corp. (TSX(V):TEM) 100 sq. km licence in prospective gold belt in Tanzania Stratex holds 12.89% and has warrants to go to 22.84% Adjacent to 14 Moz Bulyanhulu Mine 4,000 m x 2,000 m >11 g/t Au Promising results returned from structurally-focused drilling during targeting multiple NW magnetic zones along strike from Bulyanhulu 20 km N Programme currently suspended pending further data review, structural interpretation and planning and further financing activities Q

13 North and East Africa Thani Stratex Resources Ltd 40% interest in private vehicle for growth in Egypt, Ethiopia, and Djibouti HODINE Stratex-vended assets: Oklila gold project, Djibouti - best channel to date g/t Au Blackrock gold project, Ethiopia - 9,792 metres drilled BLACKROCK OKLILA Thani-vended assets: Hodine licence, Egypt - incl. Hutite 0.52 Moz Au resource (non-jorc) Stratex and Thani have each contributed US$1 M working capital Thani Stratex undertaking exploration of extended portfolio Q

14 Summary GENERATE DEVELOP GROW Low-cost exploration at Dalafin Continued project generation in Turkey via strategic partnerships Advanced project acquisition in West Africa 40%-interest in multi-prospect Thani Stratex portfolio Partnerships to progress projects Completion of construction at Altintepe anticipated Q Development of 30%-owned Muratdere Expansion of 602,000 oz Homase/Akrokerri gold resource (GoldStone) Cash flow from 45%-owned Altintepe first gold pour forecast for Q Muratdere monetisation 1% NSR (up to US$20 M) from Öksüt project commencing Q Potential investments and acquisitions Q

15 Looking ahead Proven Track Record in Project Generation Experienced Management Team Project Development via Strategic Relationships Committed to Sustainable Growth Successful Asset Monetisation Q

16 Corporate Data Share data: AIM-listed (STI) 20 th October 2015 Shares in issue Fully diluted shares Share price Market cap. Cash balance (as at 30 th September 2015) Key Shareholders M M 1.95 p 9.10 M 1.78 M Source: ANGLOGOLD ASHANTI 11.49% BLACKROCK INC. 9.72% TECK RESOURCES LTD 7.65% ORION TRUST LIMITED 5.66% G.P. (JERSEY) LIMITED 4.28% ANTOFAGASTA 2.22% THANI EMIRATES RESOURCES 2.20% Nomad Grant Thornton Broker Northland Capital Partners PR adviser Yellow Jersey Q

17 Directors and Management Christopher Hall, Non-Executive Chairman Christopher has over 40 years of wide-ranging experience in the mining sector. He is currently the in-house mining adviser to Grant Thornton UK LLP, principally assisting the Public Company Advisory team with clients listed on London Stock Exchange and the AIM market. Christopher joined Stratex in February 2008 as a Non-Executive Director. Bob Foster, Chief Executive Officer Bob has 40 years of experience as a professional economic geologist in exploration, mining, and applied academic posts, with particular expertise in the genesis and exploration of gold deposits, having worked in Europe, Central Asia, North and South America and throughout Africa. Perry Ashwood, Chief Financial Officer Perry qualified as a Chartered Accountant in 1971, training with Spain Brothers & Co. and KPMG. During his 40-year professional career he has worked in senior management with British Oxygen Ltd, Rank Xerox Ltd, and Intermec International Inc. before becoming an independent consultant in Emma Priestley, Executive Director Peter Addison, Non-Executive Director Peter qualified as a solicitor in 1966 and practiced in the City of London, specialising in company and commercial law. In 1982, Peter became a director of English Trust, a corporate advisory bank, and for some twenty years was involved in providing corporate finance advice to a wide range of public companies in the UK and Ireland on all aspects of their businesses. He is currently non-executive chairman of SiRViS IT plc, a UK company. Emma has a background in mining and financial services having worked with mining companies and consultants, IMC Mackay & Schnellmann, investment bank CSFB, advisers VSA Resources, Ambrian Partners, where she worked as corporate broker and adviser, and most recently as an executive director of Lonrho Plc until its recent successful takeover. Emma is a graduate of Camborne School of Mines, is a chartered Mining Engineer and Chartered Mineral Surveyor. Q

18 Directors and Management John Cole-Baker, Director Stratex West Africa Limited With over 40 years of experience, John has been involved in infrastructure and mining development projects, at various levels up to Project Director, as well as restructuring projects in Africa, Europe, the Former Soviet Union, the Middle East, and the Indian sub-continent. Since the 1990 s he has also been director of a number of consultancy companies and is currently an adviser to UNCTAD. Bahri Yildiz, General Manager, Turkey A Turkish national with a career spanning more than 30 years dedicated to mineral exploration and mining geology throughout Turkey. Bahri commenced his career in 1980 with the government's General Directorate of Mineral Research and Exploration. More recently he was Exploration Manager Turkey for Dardanel Madencilik, the Turkish subsidiary of major Canadian mining company Inco Ltd, before joining Stratex in Issouf Ouedraogo, General Manager, West Africa A national of Burkina Faso, Issouf has built his 18 year career through exploration and evaluation of brownfield and greenfield gold projects across Africa, including Burkina Faso, Mali, Guinea, Tanzania, DRC, Ghana and Ethiopia. In Ethiopia he made a substantial contribution to finalising a positive due diligence that led to the signing of a US$21 M dollar agreement, securing two strategic gold projects for his former employer, Gold Fields Exploration. Claire Bay, Group Manager A geologist with 8 years experience in the resources sector, Claire joined Stratex in 2007 and has been instrumental in supporting and managing the group at all levels from project to senior corporate. In addition to managing the Company s corporate and investor-based activities, Claire is heavily involved in data review and interpretation and project generation. Q Piccadilly London W1J 9HF Tel: +44 (0) info@stratexplc.com 18