4DS MEMORY LIMITED — Capital/Financing Update 2011

Feb 1, 2011

==> picture [587 x 59] intentionally omitted <==

----- Start of picture text ----- ASX: FRYwww.fitzroyresources.com.au----- End of picture text -----

FITZROY RESOURCES LTD

ABN 43 145 590 110

Fast Facts ‐ February 2011 Share Code ASX: FRY Shares on Issue 41 Million Options 11 Million Market Cap $ 8.2M Cash at Bank $ 4.9M

Directors and Management Tom Henderson, Chairman Will Dix, Managing Director Ric Vittino, Director

Projects

Rookwood:

• 70km NW of Rockhampton

• 20km S of Marlborough

• • Total area approx. 390km[2]

• 1.75Mt @ 1.7% Cu, 2.1% Zn, 8.5 g/t Ag Inferred JORC Resource

Glentanna:

• 140km SW of Brisbane

• Total area approx. 75km[2]

• Greenfields Exploration

• Drilling identified low level

  • Cu/Zn mineralisation

• Previous drilling intersected 12.3m @ 1.2% Cu and 8.9% Zn

2[nd] February 2011

FITZROY EXPANDS QLD BASE METAL PROJECT WITH NEW

TENEMENT ACQUISITION

Fitzroy Resources Limited (ASX:FRY) has expanded its base metal exploration footprint in Central Queensland with the acquisition of tenement EPM 16749 from Kangaroo Resources Limited (ASX:KRM) for a cash consideration of A$50,000.

Located immediately to the south and east of the current Rookwood Project, EPM 16749 (315Km[2] ) adds further prospective host stratigraphy to the company’s project portfolio. Fitzroy’s combined land holding in the region is now 726 km[2] and the tenements cover around 90% of the known Rookwood Volcanics which are host to the 1.75Mt Develin Creek copper –zinc resource (Figure 1).

Managing director Will Dix said, “This acquisition consolidates our holding in this exciting base metal province of central Queensland and provides the opportunity to expand our exploration activities. Our initial work at Rookwood has given us confidence that the prospective stratigraphy continues well into EPM 16749 and this acquisition maximises our opportunity to return value to shareholders through exploration”.

The company will immediately compile all the technical data for the tenement into the project database and begin short‐listing target areas for on‐ground follow up once the field season commences later this month.

==> picture [158 x 91] intentionally omitted <==

==> picture [158 x 91] intentionally omitted <==

Contact Details

Perth Office Lvl 2, 35 Havelock Street West Perth WA 6005 Postal Address PO BOX 839 West Perth WA 6872 T +61 8 9481 7111 F +61 8 9320 7501 E admin@fitzroyresources.com.au

Media Enquiries Ian Howarth 0407 822 319 ian@collinsstreetmedia.com.au

==> picture [587 x 59] intentionally omitted <==

----- Start of picture text ----- ASX: FRYwww.fitzroyresources.com.au----- End of picture text -----

==> picture [452 x 161] intentionally omitted <==

==> picture [452 x 161] intentionally omitted <==

==> picture [452 x 160] intentionally omitted <==

==> picture [452 x 161] intentionally omitted <==

Figure 1 – New tenement acquisition EPM 16749 with outcropping Rookwood Volcanics shown which host the Develin Creek Resource.

==> picture [587 x 59] intentionally omitted <==

----- Start of picture text ----- ASX: FRYwww.fitzroyresources.com.au----- End of picture text -----

ABOUT FITZROY :

Fitzroy Resources Ltd is an Australian based mineral exploration company, with two significantly underexplored Queensland base metals projects.

Fitzroy’s main focus is to rapidly evaluate the Rookwood project, containing the promising Develin Creek Resource (estimated 1.75Mt @1.7% Cu, 2.1% Zn, 8.5ppm Ag and 0.24ppm Au). Typical VHMS prospects such as Rookwood, often contain multiple ore systems, with Develin Creek the first system discovered to date in this terrain. Rookwood contains significant potential for the discovery of substantial copper/gold deposits beyond the existing resource.

The smaller Glentanna project, to the south, remains in the early exploration stages, with previous drilling suggesting strong potential. Focus on this project will include further first pass geophysics and drilling.

COMPETENT PERSONS STATEMENT :

The information in this document that relates to Mineral Resources has been compiled by Ms Fleur Muller. Ms Muller, who is a Member of the Australasian Institute of Mining and Metallurgy, is a full time employee of Geostat Services Pty Ltd and produced the Mineral Resource Estimate based on

data and geological information supplied by Icon. Ms Muller has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity that she is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code. Ms Muller consents to the inclusion in this document of the matters based on her information in the form and context in which it appears.