Progress Update

 

TIDMZOX 
 
RNS Number : 5358P 
ZincOx Resources PLC 
19 July 2010 
 

19 July 2010 
 
                              ZincOx Resources plc 
                          ("ZincOx" or "the Company") 
 
                                Progress update 
 
ZincOx is pleased to provide an update on progress: 
 
Korea recycling plant (KRP) 
The Korean authorities have confirmed that the agreement for the purchase of the 
land for the site of the KRP has now been entered into by all relevant parties. 
The site which lies within the Cheonbuk Industrial Complex has been purchased by 
the Ministry of Knowledge Economy, the Gyeonsangbuk-Do Province and Gyeongju 
City. The land has been purchased with the sole intention of leasing it to 
ZincOx for the construction of the KRP. The Gyeongju City government on behalf 
of the Korean government has presented ZincOx with a draft lease agreement that 
provides for a 50 year free lease extendable every 10 years thereafter.  The 
Company expects the lease to be finalised before the end of August. 
 
An engineering costing study is underway and negotiations with financing 
partners have started. 
 
Jabali zinc mine and processing plant 
Negotiations for a re-financing are continuing with a number of interested 
parties. All options for Jabali, ranging from an outright sale to traditional 
project finance, are still under consideration. 
 
Commenting on the announcement, Andrew Woollett, Executive Chairman, said: 
"We are delighted with the progress being made in Korea and we will update 
shareholders further at the end of August." 
 
 
For further information, please contact: 
 
ZincOx Resources plc                                            Conduit PR 
 
Peter Wynter Bee, Managing Director                  Charlie Geller 
Tel: [phone]                                Tel (Direct): +44 (0) 20 
7429 6604 
 
Numis Securities 
John Harrison, as Nominated Adviser 
James Black, as Corporate Broker 
Tel: [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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