November 22, 2008

Aurox clarifies China connection

Aurox Resources Ltd last week in response to media reports clarified the relationship between the Western Australia based explorer and China's state owned Chengde Iron and Steel Group.

The company said that media reports in Hong Kong and Western Australia have reported that China's state owned Chengde Iron and Steel Group was in talks to buy a stake in Aurox Resources Limited.

Aurox said in the announcement that Chengde Iron and Steel Group entered into a 15 year sales agreement for iron ore concentrate from the Company's Balla Balla project in March 2007.

The company's share register already includes RockCheck Steel Group Company Ltd of China with approximately 8% of the issued capital of Aurox.

Aurox has held discussions in recent months with a number of parties concerning equity investment, including Chengde, and although those are ongoing there is no certainty that a transaction will be concluded.