ZincOx Resources PLC
10 November 2005


ZincOx Resources plc ('the Company')

The Company was notified on 9 November 2005 that UBS AG, acting through UBS AG
London Branch, now has a material interest in 1,545,000 Ordinary shares of 25p
each in the Company, representing approximately 5.33% of the issued share
capital of the Company.


This information is provided by RNS
The company news service from the London Stock Exchange

ZincOx Resources PLC
11 November 2005


Aliaga Recycling Project Update 11 November 2005

ZincOx Resources plc is pleased to announce the completion of the first part of
the feasibility study for the Aliaga Recycling Project (Turkey) being undertaken
by SNC- Lavalin Europe. The work to date has included a technical review of the
process, plant layout, engineering design and an estimation of capital and
operating costs to an accuracy of +/-15%.

The Aliaga project envisages the production of high quality zinc oxide from
waste material (EAFD) generated by the steel recycling industry. Further
sampling of the Turkish EAFD over the past 12 months has allowed the company to
increase the initial capacity of the plant by one third so that the study is
examining the production of 20,000 tpa of high quality zinc oxide generated from
the EAFD produced by the steel mills at Aliaga alone.

ZincOx expects to be able to increase production to at least 30,000 tpa zinc
oxide by obtaining EAFD from steel mills located elsewhere in Turkey. The 20,000
tpa plant has been designed so that it may be expanded to 30,000tpa for the
minimum of additional expenditure. Although this adds to the capital of the
20,000tpa plant, it reduces the overall capital cost of the expanded project.
The cost of this expanded capacity provision and the increase in the initial
production rate has led to a revised capital cost of US$39 million for the
initial capacity of the plant.

Based on SNC-Lavalin Europe's cost estimates, ZincOx has revised its previous
cash flow models. For the initial 20,000 tpa capacity without further expansion,
using a zinc price of US$1,150 per tonne (Current price US$1,584 per tonne), the
project would have a post tax net present value of 19 million, at a 10%
discount rate, and an internal rate of return of 23%.

It is intended that the expansion to 30,000tpa would be financed largely out of
the cash flow generated in the first full year of production. A preliminary
financial model based on an expanded project, using a zinc price of US$1,150 per
tonne, has a post tax net present value of 28 million, at a 10% discount rate,
and an internal rate of return of 26%.

SNC-Lavalin Europe is scheduled to complete it's Feasibility Study in March
2006. This will include further engineering design up to a stage that will
consolidate the investment cost and confirm the process performance to enable
ZincOx to satisfy the requirements of the providers of project finance.
Discussions regarding the terms for project finance are well underway and the
terms of a mandate are close to being concluded.

Commenting on the announcement, Andrew Woollett, ZincOx's Managing Director said
'Our two phase approach to the feasibility study confirms the value of the
project ahead of the more detailed engineering required for project finance.
This allows us to commence infrastructural development on the site and to order
long lead-time items of equipment so that the overall development schedule for
the project will not be delayed by the arrangement of project finance.'

For more information please contact:

Andrew Woollett Leesa Peters / Pam Spooner
ZincOx Resources plc Conduit PR
Tel: +44 (0) 1276 455700 Tel: +44 (0) 20 7618 8533

awoollett@zincox.com

ZincOx Resources PLC
23 November 2005


ZincOx Resources plc finalises mandate for the financing of the
Aliaga Zinc Recycling Project in Turkey


23 November 2005


ZincOx Resources plc (ZOX) has, since its update announcement on 11 November
2005 in relation to the Aliaga Zinc Recycling Project in Turkey ('the Aliaga
Project'), entered into a mandate with Investec Bank (UK) Limited ('Investec')
to arrange and conditionally underwrite project debt for the development of the
Aliaga Project.

Investec is one of South Africa's leading banks with significant experience in
the arrangement and provision of development loans for projects in the mining
industry. Investec has made a preliminary assessment of the processing
technology to be employed at Aliaga and, based on this and ZincOx's revised cash
flow models, it is envisaged that the project finance loan facility of US$30
million will cover about two thirds of the capital required for the development
of the project and that the loan will be repayable over seven years. The
condition includes legal due diligence, revue of the feasibility study and
Investec final internal approval.

Investec will be paid a mandate fee of 400,000 equity warrants convertible into
ordinary shares in the capital of the Company for a period of three years, at a
conversion price of 2. A further 300,000 warrants will be awarded upon the
provision of the loan. These warrants will be for a period of three years
exercisable at a price representing a 133% of the price of the shares at the
time the loan agreement is finalised. In addition, a fee of 2.5% of the amount
of the loan will be payable at the time of the first draw down. In the event
that Investec do not provide this project finance, the original warrants will be
cancelled.

Investec will shortly commence a detailed evaluation of the project so that the
provision of the development loan can be put in place soon after the completion
of the detailed feasibility study by S.A. SNC-Lavalin Europe B.V., scheduled for
March 2006.

Commenting on the announcement, Andrew Woollett, the Managing Director of
ZincOx, said 'I am delighted to have Investec working with us and we expect the
relationship established for Aliaga to lead to their involvement in other
similar projects elsewhere in the world. Investec's willingness to study the
project even before the feasibility study is completed should enable the project
development to progress without delay.'

For more information please contact:

Andrew Woollett Leesa Peters / Pam Spooner
ZincOx Resources plc Conduit PR
Tel: +44 (0) 1276 455700 Tel: +44 (0) 20 7618 8533

awoollett@zincox.com

The newswires are full of Chinese zinc smelters putting expansion projects on hold due to the shortage of raw materials, while further fuel to the bullish flames was added in the form of reports that the government is moving to ban any new zinc smelter project with annual capacity of less than 100,000tpy.



Icing on the bulls' party cake came with the announcement from Korea Zinc it was mothballing its Big River Zinc refinery in the US due to the tightness in the concentrates market.



That takes another 90,000tpy of refined capacity out of the equation, following on from the (permanent) closure of the 90,000tpy Duisburg refinery in Germany and the 130,000tpy being closed by Belgian producer Umicore.



More may well follow with few significant additions to mined zinc production in the pipeline. So will new cycle highs with this market in full bull mode right now. The correction is still overdue but there are plenty of players just itching to join the bandwagon at lower numbers. Weakness, if it comes, will almost certainly be triggered by copper, but with zinc back in the party mood, it's not going to let anyone spoil things for too long.

ZincOx Resources PLC
07 December 2005

Press Release 6 December 2005



ZincOx Raises 13.2 million for the Development of the Aliaga Recycling Project



ZincOx Resources plc ('ZincOx' or the 'Company') (Symbol ZOX) has raised
approximately 12.7 million net of expenses in a placing (the 'Placing')
arranged by Numis Securities Limited ('Numis'). The Placing, which is
conditional inter alia on the passing of certain shareholder resolutions,
involves the issue of 8,787,333 new ordinary shares in the Company at a price of
150p per share. Immediately following the Placing the total number of shares in
issue will be 37,761,422. The proceeds from the Placing will be used principally
to fund the equity component of the development of the Aliaga Zinc Recycling
Project in Turkey ('Aliaga').



On 23rd November 2005, ZincOx announced that it had entered into a mandate with
Investec Bank (UK) Limited ('Investec') to arrange and conditionally underwrite
project debt for the development of the Aliaga Project. This project finance is
intended to provide approximately two thirds of the funding required to bring
the Aliaga plant up to operational capability, with the 12.7 million raised by
the Placing intended to provide the remainder and general working capital.



Commenting on the announcement, Andrew Woollett, ZincOx's managing director,
said 'Raising these funds more than covers our equity component of the Aliaga
project and enables us to start development early in the new year. This marks
the start of our transition to a producing company.'





ZincOx specialises in the recovery of zinc from non-sulphide zinc bearing
materials. The Aliaga project envisages the production of high quality zinc
oxide from waste material (Electric Arc Furnace Dust - EAFD) generated by the
steel recycling industry.



On 11th November 2005, ZincOx announced the completion of the first part of the
feasibility study for the Aliaga project undertaken by S.A. SNC-Lavalin Europe
N.V. ('SNC'), which includes a technical review of the process, plant layout,
engineering design and an estimation of capital and operating costs to an
accuracy of +/-15%.



The plant is initially being designed to produce 20,000 tonnes per annum ('tpa')
of high quality zinc oxide generated from the EAFD produced by the steel mills
at Aliaga, although, in due course, the Company expects to be able to increase
production up to 30,000 tpa zinc oxide by obtaining EAFD from steel mills
located elsewhere in Turkey. The 20,000 tpa plant has also been designed so
that it may be expanded to 30,000tpa for a reduced additional expenditure per
tonne. Although this adds to the initial capital cost of the 20,000tpa plant,
it reduces the overall capital cost of the expanded project. The cost of this
expanded capacity provision and the increase in the initial production rate to
20,000tpa has led to a revised capital cost of US$39 million for the initial
capacity of the plant.



Based on SNC's cost estimates, ZincOx has revised its previous cash flow models.
For the initial 20,000 tpa capacity without further expansion, using a zinc
price of US$1,150 per tonne (price as at 5 December 2005 - US$1,731 per tonne),
the project is estimated to have a post tax net present value of 19 million, at
a 10% discount rate, and an internal rate of return of 23%. It is intended that
the expansion to 30,000 tpa will be financed largely out of the cash flow
generated in the first full year of production. A preliminary financial model
based on an expanded project, using a zinc price of US$1,150 per tonne, has a
post tax net present value of 28 million, at a 10% discount rate, and an
internal rate of return of 26%.



The full SNC feasibility study is expected by the end of March 2006, but to
avoid any unnecessary delay in the development of the Aliaga plant, the Company
is raising funds at this stage.



In addition to the development of the Aliaga project, the Company has completed
a feasibility study on the Jabali zinc deposit in Yemen and will shortly be
commencing a feasibility study in the Mid West of the United States for the
recovery of zinc oxide from EAFD similar to the Aliaga project. ZincOx is also
continuing its research into other potential recycling projects including
testwork on the viability of the Polykiln technology for the potential
re-processing of slag.



Following completion of the sale of the Shaimerden deposit in Kazakhstan for
US$7.5 million in 2004, ZincOx is entitled to receive, subject to the zinc price
being above US$800 per tonne, further deferred receipts relating to the first
200,000 tonnes of zinc mined. These payments will be at a rate equivalent to
US$0.2375 per tonne for every dollar that the LME zinc price is above US$800 per
tonne. At a zinc price of US$1,600 per tonne (price as at 5 December 2005 -
US$1,731 per tonne), the further deferred receipts would amount to approximately
US$38.0 million. Providing the zinc price remains above US$800 per tonne,
further deferred receipts are anticipated to be received between 2007 and 2010.



Under the Placing, the Company has conditionally placed 8,787,333 new ordinary
shares of 25p each (the 'New Shares') at a placing price of 150p per share to
raise approximately 13.2 million before expenses (approximately 12.7 million
after expenses). The Placing has been arranged by Numis who have also
underwritten the issue. The Placing is conditional, inter alia, upon the
placing agreement between ZincOx and Numis becoming unconditional and not being
terminated prior to 6 January 2006, the expected date of admission, or such
later date (being no later than 13 January 2006) which the Company and Numis may
agree. The New Shares will rank pari passu in all respects with the existing
ordinary shares of 25 pence each in issue. It is expected that dealings in the
New Shares will commence on AiM on 6 January 2006.

Conditional on the completion of the Placing, the directors intend, pursuant to
the terms of the Company's Unapproved Executive Share Option Scheme previously
approved by the shareholders ('the Scheme'), to grant options over 878,333
ordinary shares in the capital of the Company at the same exercise price as the
New Shares.

For the purposes inter alia of giving the directors authority to allot and issue
the New Shares and to disapply statutory pre-emption rights in respect of such
New Shares, an extraordinary general meeting of the Company will be convened for
Thursday 5 January 2006 at 11.00 am. The Placing is conditional upon those
resolutions being duly passed.



For more information please contact:

Andrew Woollett David Poutney / Leesa Peters / Pam Spooner
Chris Wilkinson
ZincOx Resources plc Numis Securities Ltd Conduit PR
Tel: +44 (0) 1276 455 700 Tel : +44 (0) 207 776 1500

Up 5.5 at 160--164

Good boost on the back of the financing deal. I'm a bit surprised that it gave up a little today. This is a definate long term hold IMHO, since the market cap is still tiny.

>>aldwickk - I recently opened a spreadbet buy on Zinc. A serious rollercoaster ride, not for the fainthearted - but longer term could pay off - although the price may bit a bit frothy at the moment.

rgrds
gk

13 Jan 11:30
Zinc set to smash records as demand grows
Economic Times - ZINC prices are set for strong gains this year as fast-growing Chinese demand and a global shortage eat into stocks, analysts have said, as the metal soared above $2,000 a tonne for the first time ever. But they said zinc - which in percentage terms rose in value more than any other metal on the London Metal Exchange last year was vulnerable to any wider sell-off by funds that have ploughed money into commodities...

Gallick,

How's your spreadbet doing ?

ZincOx Resources PLC
13 January 2006

ZincOx Resources plc - Holding(s) in the Company


ZincOx Resources PLC ('the Company') was notified on 13 January 2006 that
Fidelity International Limited (FIL), and its direct and indirect subsidiaries,
hold 98,700 ordinary shares of 25p each in the Company and FMR Corp. (FMRCO),
and its direct and indirect subsidiaries, hold 970,000 ordinary shares of 25p
each in the Company. Together, this represents 2.83% of the Company's issued
share capital.

The shares are held in various nominee accounts and include the notifiable
interest of Mr. Edward C. Johnson 3rd, a principal shareholder of FIL and FMRCO.
The notifiable interest also includes interests held on behalf of authorised
unit trust schemes in the UK, notwithstanding the exemption from reporting
pursuant to Section 209(1) (h) of the Companies Act 1985.

The Company was also notified on 13 January 2006 that, following the sale of
225,000 ordinary shares on 11 January 2006, INVESCO English and International
Trust PLC no longer has a notifiable interest in the ordinary shares of 25p each
in the Company.

>>aldwickk

My spreadbet went great. I walked away with a 1200 profit - but I got out too early (at about $1800/tonne). The price is now over 2000. At 10 per point if I had sat tight I would have made another 2K.

But I'm making money on lead which has not yet spiked up anything like zinc. I would seriously recommend it, you can buy 3 month lead (zinc tin etc - call the traders) on IG index.

It raises a question about investing in ZOX. The progress they are making seems slow. They do benefit from the previous sale on the back of the rise in the zinc price, but they need to get on and start producing - otherwise they may be producing when the price is starting to fall again (but I reckon that is in at least 5 years).

I will continue to hold zox, but I want to some some news!

Good luck aldwickk - but I recommend that you check out IG index - if you want to make some serious dosh, since in my view you are better off investing in the physical, than shares in companies!

rgrds
gk

Gk,

I already have a IG index account, have a look at this interesting GFM / Zinc chart it would be interesting to see what ZOX looks like.

ZincOx Resources PLC
18 January 2006


ZincOx Resources plc ('the Company')


The Company was notified on 13 January 2006 that UBS AG, acting through UBS AG
London Branch, has a material interest in 2,878,333 Ordinary shares of 25p each
in the Company, representing approximately 7.62% of the issued share capital of
the Company.

ald>>
great chart

but only makes the point again that it is better to be in the physical than the mining company.

rgrd
gk

ps lead has not fallen on a single day in the last 4 or 5 (I forget which).

Record zinc prices on global shortage

Zinc prices have risen so fast that Robin Bhar, a metals analyst for 22 years, is about to raise his forecast for the second time in two months.

Tuesday, January 31, 2006

Zinc prices have risen so fast that Robin Bhar, a metals analyst for 22 years, is about to raise his forecast for the second time in two months.
"We've all been left behind," said Bhar, who follows the market in London for UBS. "It's just phenomenal. No one in their wildest imagination thought it would get to these levels."

Zinc for delivery in three months on the London Metal Exchange was US$6 (HK$46.8) lower at US$2,244 a tonne in early trade Monday. It traded at US$2,320 Thursday, the 11th consecutive day the metal rose to a record.

Little relief is in sight, as mining companies restrain investment in expanding output and China stops exports and begins imports of the metal. "There is a global shortage," said Greig Gailey, chief executive officer of Melbourne- based Zinifex, the world's second- largest zinc supplier.

"New mine development is a lengthy process and it's difficult to see new mines coming on stream in the short to medium term." His company has no new mines planned until 2008 at the earliest.

Driving the market is China, stoking demand for zinc, used as a rust-resistant coating for steel in buildings, cars and appliances.

Pension funds and speculators are joining the rally in zinc and metals including copper, aluminum and gold, seeking an alternative to stocks and bonds. The Reuters Jefferies CRB Index, which tracks commodity futures, gained 17 percent last year, compared with a 3 percent increase in the Standard & Poor's 500 Index of US companies.

"Two, three, four, five years ago, we would have seen that with the hedge funds, but not the big state pension funds," said Bob Diamond, chief executive officer of Barclays Capital. "We are seeing an asset class shift." The shortage of zinc is a legacy of lower prices in the past and a lack of investment by the industry. Prices dropped to a record low of US$742 a tonne in August 2002, prompting mine closures and leaving producers such as France's Metaleurop bankrupt.

London-based Anglo American and Xstrata are now struggling to meet the world's zinc needs. Labor disputes this month at Mexico's Industrias Penoles and mines run by Peru's Volcan Cia Minera have added to concern that zinc production will lag behind demand this year. Inventory will drop this year as demand outpaces supply from the world's mines. Nick Hatch, an analyst at Investec Securities in London, estimates zinc use will exceed global production this year by 310,000 tonnes. The stockpiles monitored by the LME have declined by 40 percent in the past month to 375,750 tonnes.

"There is a dearth of new projects as a consequence of a lack of exploration," said Alan Heap, Citibank's Sydney-based director of commodity analysis. "Deficits are set to persist."

Heap, who said in 2005 that metal markets were entering a "super cycle" jump in prices, last week raised Citibank's first-half average zinc price forecast 44 percent to 97.5 cents a pound, or US$2,150 a tonne.

Morgan Stanley this month raised its 2006 zinc forecast 12 percent to 95 cents a pound, or US$2,094 a tonne.

Zinc is already up 18 percent this year. The price was forecast to rise 21 percent for the whole of 2006, averaging US$1,666 a tonne, according to the median estimate of 24 analysts polled by Bloomberg.

"We expect the deficit to persist into 2007, implying a price peak may be over a year away," said Simon Toyne, an analyst in London at Dresdner Kleinwort Wasserstein.

China became a net importer of zinc in 2004 as its economy boomed, according to Canada's Teck Cominco.

The nation's zinc demand jumped 16 percent to 2.7 million tonnes in the first 11 months of 2005. BLOOMBERG

ZincOx Resources PLC
01 February 2006

ZincOx Resources plc ('the Company')



The Company notes the recent speculation regarding its interest in the Big River
Zinc smelter in Sauget, USA, which is scheduled to be closed down in early
February 2006.



The Company can confirm that it is in preliminary talks with Big River Zinc
Corporation regarding the potential acquisition of the smelter from the parent
company Korea Zinc Limited. These talks are at an early stage and may or may not
lead to the acquisition going ahead.



The Company will update its shareholders in due course.

Big River Zinc has tentative buyerBig River Zinc President George Obeldobel has announced that the company in Sauget has reached a tentative deal with a buyer who would save the plant and its 300 jobs.
In December, Obeldobel announced that current owner, Korea Zinc, decided to shutter the plant in February if a buyer couldn't be found.
The identity of the buyer, which has a "conditional agreement" to buy the plant, has not been identified.
The process of closing the plant had already started. Obeldobel said 47 workers were laid off Sunday and production was shut down. More workers are expected to be laid off before the plant resumes production sometime in February.
For more information, see Wednesday's News-Democrat.

Latest Trades
Time Price Volume Value Buy/Sell Type
14:54 240.00p 562 1,349 Buy O
14:20 240.00p 825 1,980 Buy O
11:45 240.00p 25,000 60,000 Buy O
13:36 240.00p 410 984 Buy O
11:28 250.00p 10,000 25,000 Buy O

More ZincOx latest trades
Largest Trades Over 10k
Time Price Volume Value Buy/Sell Type
10:55 240.00p 30,000 72,000 Sell T
10:37 239.00p 30,000 71,700 Buy O
11:45 240.00p 25,000 60,000 Buy O
11:21 250.00p 10,000 25,000 Buy O
11:28 250.00p 10,000 25,000 Buy O

More ZincOx largest trades

ZincOx Resources PLC
02 June 2006


General Update on Projects

Aliaga Recycling Project Feasibility Study Completed


The basic engineering for the Aliaga Recycling Project (ARP) in Turkey has been
completed by SNC Lavalin Europe, and a Feasibility Study produced. The ARP is on
schedule for production of 20,000 tonnes per annum of industrial grade zinc
oxide (16,000 tonnes of zinc contained) in the third quarter of 2007. Following
the commissioning of the plant, an expansion to 30,000 tonnes per annum of zinc
oxide is planned, and this should be operational before the end of 2008.

Over the past year costs in the mining and mineral processing industries have
risen substantially throughout the world. Furthermore modifications have been
made to the design of the production flowsheet for Aliaga that involve
additional process steps. There have also been increases to the sizing of
several elements of the plant that will allow a rapid and relatively less
expensive expansion. As a result capital costs have increased from US$39 million
to US$51 million, but a preliminary estimate of the additional cost required to
expand the plant output by 50% (10,000 tonnes per annum) to 30,000 tonnes per
annum of zinc oxide will require only about a further US$12 million.

Zinc oxide has several industrial applications for which there are numerous
different grades. Almost all applications sell at a premium to the LME value of
the zinc metal contained. Testwork on samples produced in the Company's pilot
plant in Belgium have demonstrated that the zinc oxide product will be suitable
for ceramic and agricultural applications. By the addition of further equipment,
to be installed as part of the expansion, material suitable for the largest
application, vulcanisation of rubber, can also be produced.

Almost all zinc oxide is produced from zinc metal or zinc secondary materials
the price of which is linked to the LME zinc price. At Aliaga the feed is a
waste obtained at no cost and so operating margins are substantial at the
elevated zinc prices currently prevailing.

The Turkish tax regulations have recently been revised, so that the rate of
corporate tax has been reduced to 20% from 30% but the generous depreciation
allowances for environmentally positive projects, such as ARP, have been
abolished.

Investec Bank is mandated to arrange the debt finance for the development of the
project. Investec has reviewed the revised costs and indicated they are prepared
to increase the amount of debt they can provide to the project. However, some
additional equity will also be required. The study is being evaluated by
independent consulting groups on behalf of Investec Bank as part of the due
diligence for the arrangement of project finance. The strength of medium term
zinc price forecasts is such that the price may be hedged forward up to seven
years at levels far in excess of the prices seen over the past seven years.
Using a zinc price of US$1,800 per tonne (price currently US$3,450 per tonne)
for the first four years of production, falling to US$1,300 thereafter, the
project has a net present value of 22 million and an internal rate of return of
21%. If the project expansion is commenced immediately following the
commissioning of the 20,000 tonnes per annum plant, the net present value
increases to 41 million and the internal rate of return to 26%.

Most mineral resource projects are based on a raw material reserve that is a
finite size; since the reserve has a limited life, projects are traditionally
valued on the basis of discounted cashflow over the fixed life of the reserves.
In the case of Aliaga, however, the raw material (EAFD) is being constantly
renewed and so the life is unlimited and an earnings based valuation would be
considered to be more appropriate by the Company. Based upon the assumptions
above, the average annual earnings generated by the 30,000 tonnes per annum
project would be about 8 million per annum. (NB if these earnings are
repatriated to the UK, further tax may be payable).

Commenting on the study, ZincOx's Chairman, Andrew Woollett said 'While
operating costs at Aliaga have increased, the rise is more than compensated for
by the increase in the zinc price. Furthermore, it is now possible to hedge zinc
forward at prices and over periods that would have been unthinkable even a year
ago, giving us the possibility of ensuring a strong early cashflow from the
project'.

Jabali, Yemen

The Exploitation Agreement for the Jabali deposit has been reviewed by several
government authorities and has recently been passed to the cabinet for final
approval, prior to ratification by parliament. The Jabali feasibility study was
completed in March 2005. In order to update the capital and operating cost
estimates in line with the general increase in costs throughout the industry, a
review is being undertaken. The cost review is expected to be completed within
the next three months. Discussions with a number of banks for the provision of
non-recourse project finance are progressing well.


Shaimerden, Kazakhstan

Part of the consideration for the sale of the Shaimerden zinc deposit to Kazzinc
in 2003, was a deferred payment related to the first 200,000 tonnes of zinc
mined. Kazzinc started to develop the mine in 2005. The ore lies under about 50
meters of overburden and the pit is currently at a depth of 45 meters. Some 6.5
million cubic metres of waste has been removed to date. It was planned to start
ore production in May 2006. However, the high water inflow in the pit has forced
Kazzinc to increase the slope of the open pit walls, resulting in a higher
proportion of overburden removal and a delay to the mining of ore. Under the
agreement with Kazzinc, mining is deemed start in October 2006 at the equivalent
of approximately 10,000 tonnes of zinc, on which the 2006 deferred payment is to
be based. This payment will be made at the end of January 2007 and will depend
on the average zinc price during the final quarter of 2006. If the zinc price
was to average US$2,500 per tonne during the final quarter (price currently
US$3,450 per tonne), the deferred payment for 2006 would amount to US$4 million.
Using Kazzinc's projections we expect the deferred payment for 2007 to be based
on the deemed maximum output of 60,000 tonnes of zinc (deemed minimum 40,000
tonnes of zinc) and, assuming an average price of US$2,500 per tonne, this would
amount to a payment of US$24 million in January 2008.


Big River Zinc

Negotiations regarding the purchase of the Big River Zinc Smelter are being
concluded and an announcement is expected imminently.


For more information please contact:

Andrew Woollett, ZincOx Resources plc
Tel: +44 (0) 1276 450 100

David Poutney /Chris Wilkinson, Numis Securities Ltd
Tel : +44 (0) 20 7776 1500

Laurence Read/Abigail Singleton, Conduit PR
Tel : +44 (0) 20 7429 6666