TORONTO, ONTARIO--(Marketwired - Jan. 11, 2017) - Starrex International Ltd. ("Starrex" or
the "Company") (CSE:STX)(CSE:STX.CN) filed on Tuesday, November 24, 2016, restated interim financial statements
and a revised management's discussion and analysis ("MD&A") for each of the 2015 second and third quarters
ended June 30 and September 30, 2015 and the 2016 second quarter ended June 30, 2016, together with restated audited annual
financial statements and a revised MD&A for the year ended December 31, 2015. Due to clerical errors discovered in the
MD&As, the Company filed on November 30, 2016, corrected MD&As for each of the 2015 second and third quarters ended June
30 and September 30, 2015 and the 2016 second and third quarters ended June 30 and September 30, 2016, all of which can be found
on SEDAR (www.sedar.com) under the Company's profile.
Following the above-noted filings, the Ontario Securities Commission (the "OSC") identified additional errors
in the MD&As. As Starrex is in discussions with staff of the OSC regarding any comments which such staff may have
regarding the re-filings made to date, on December 2, 2016, the Company filed with the OSC a new application for a management
cease trade order ("MCTO") prohibiting the Company's current Chief Executive Officer from trading, directly or
indirectly, in the securities of Starrex until two full business days following the receipt by the OSC of all filings that the
Company is required to make under Ontario securities law or other order of the Director of the OSC.
The Company anticipates filing revised interim financial statements and MD&As within the next short while. Once the
re-filings are completed, the Company will have completed all of its anticipated restatements and re-filings.
This news release contains forward-looking information. All information (other than statements of historical
fact) that address activities, events or developments that Starrex believes, expects or anticipates will or may occur in the
future are forward-looking statements. Forward-looking information is subject to a variety of risks and uncertainties beyond
Starrex's ability to control or predict that may cause actual events or results to differ materially from those described in such
forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as
may be required by applicable securities laws, Starrex disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events or results or otherwise. Although Starrex believes that the
assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future
performance and, accordingly, undue reliance should not be placed on forward-looking information due to the inherent uncertainty
thereof.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the
United States. The Company's securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the
adequacy or accuracy of this press release.