ITX - CHINA TENGFEI GROUP UPDATE

1/2/2013 4:05 AM EST

Reference is made to the announcement by Intex 
Resources on December-10, 2012 regarding China 
Tengfei Group (Tengfei) and their interest in 
purchasing 90% of Mindoro Nickel for USD 180 million. 
Intex has an ongoing dialog about this process with 
Tengfei. 

On December-31, 2012 MCC8 Group Company Limited 
(MCC8) released an announcement regarding the status 
and progress of the discussions with Tengfei and 
other potential parties (attached). Intex Resources 
would like to clarify that the discussions are 
ongoing, no agreement has been signed and an LOI can 
be signed upon a confirmation of who the consortium 
members are, and available funding can be 
demonstrated.

Intex is currently in discussions with several 
parties about a realization plan for Mindoro Nickel, 
projected as one of the lowest cost nickel producers 
and the first carbon-neutral mining operation. The 
prospects of producing a range of important metals 
independent of fossil fuel has generated interest 
from a range of industry players. 

We consider the offer from Tengfei as interesting 
along with other options currently emerging. Included 
in the current discussions is new test work regarding 
extraction of additional by-products and alternative 
cost-effective methods of nickel extraction. 

Intex Resources will make further announcements about 
this process in due course.


Jan A. Vestrum
Chairman,
Intex Resources ASA

For further information, please contact:

Intex Resources ASA
Munkedamsveien 45A
0250 Oslo, Norway
Phone:	+47 2311 3344
Fax:	+47 2311 3345
Email: