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BRIEF-Fox Resources-option to acquire Queensland coal assets

Oct 9 (Reuters) - Fox Resources Ltd :

* Option to acquire Queensland coal assets

* Says has agreed an option to acquire 16 coal exploration permits

* Says executed a binding terms sheet to give it an exclusive option to acquire

100% of a number of coal tenements in Queensland

* Says deal for exercise of the option comprises $1 million in cash, $725,000

worth of shares in Fox following exercise of option

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