announcement

101.2Mt Inferred Resource
Bundaberg Project
Highlights:
? Maiden Coking Coal Inferred Resource of 101.2Mt
at the Bundaberg Project.
? Recently released Initial Coal Quality sampling
confirms Coking Coal within EPC1523.
? Initial discussions with possible offtake parties
planned.

Fox Resources Ltd (ASX Code: FXR) (“Company”) is thrilled to
announce that an Inferred Resource had been estimated at the
Bundaberg Project. The coking coal Resource is estimated at an
Inferred level of confidence at 101.2Mt. Similar parameters were
applied to the coal deposit as used in the Resource estimate
published by the ICX/QCI JV in the neighbouring EPC2196. The
Resource has been estimated in accordance with the 2012 JORC
Code (2012) and the draft 2014 Coal guidelines with all information
outlined in Appendix 2 below.

More TXT exists in announcement