4DS MEMORY LIMITED — Capital/Financing Update 2013

Dec 22, 2013

ASX: FRY

23 December 2013

Completion of Premier Coking Coal Option Agreement

• Fitzroy has exercised and completed the option to acquire Premier Coking Coal Ltd

• As per terms of the option agreement, Fitzroy issued 20 million Fitzroy ordinary shares and 20 million performance shares to owners of Premier Coking Coal Ltd

• Additional drill program at Emmaus to commence

• Appointment of Benjamin Lane as Chief Executive Officer

Fitzroy Resources Limited (“Fitzroy” or “the Company”) has exercised and completed the option to acquire Premier Coking Coal Ltd.

On 14 August 2013, Fitzroy announced that it had signed an option agreement to acquire 100% of Premier Coking Coal Limited and its subsidiary, Premier Coking Coal LLC (“Premier”), a US based coal exploration and development company (“Option”).

Fitzroy has acquired the right to exercise the options to acquire the Emmaus and Blackstone properties in West Virginia, USA. A full technical report on both properties is available on the home page of the Fitzroy website.

In accordance with the option agreement, the Company has issued 20 million ordinary shares and 20 million performance shares to the owners of Premier.

Fitzroy welcomes our new shareholders to the register.

Project Update

As announced on 6 December 2013, during due diligence drilling, Fitzroy intersected 3.8 feet (1.2m) of coal in the Beckley seam. This is a significant coal intersection and warrants further testing. The same hole penetrated 1.7 feet (0.5m) of the Fire Creek seam. After the drill rig pulled that section of core, it was unable to continue the hole and it was abandoned without determining whether the whole Fire Creek seam had been intersected. (Refer ASX announcement 6 December 2013)

There are three permitted drill hole locations at the north western, eastern and southern boundaries of the Emmaus property. Fitzroy will drill the three holes to test whether the Beckley and Fire Creek seams extend to these boundaries of the Emmaus property and report the results during the early part of 2014.

Fitzroy has submitted an application to the West Virginian Department of Environmental Protection for drilling permits at Blackstone and is in the process of finalising the design of the program for further below drainage exploration at Emmaus.

Fitzroy Resources Limited Level 1, 35 Havelock Street PO Box 839 T +61 8 9481 7111 E admin@fitzroyresources.com.au West Perth WA 6005 West Perth WA 6872 F +61 8 9320 7501 W www.fritzroyresources.com.au

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Appointment of Fitzroy Chief Executive Officer

The Fitzroy Board is pleased to announce the permanent appointment of Benjamin Lane as the Chief Executive Offer of Fitzroy.

The key terms of the employment agreement includes:

• Annual remuneration of base salary of $200,000 plus superannuation of $18,500 (plus an away from home allowance of $250 per night)

• 2 million Fitzroy ordinary shares under the Fitzroy Employee Share Acquisition Plan

• Bonuses, subject to the determination of the board that may be earned if operational, financial and total shareholder return milestones are met

Termination conditions are as follows:

• Up to six months termination pay, depending on length of service

• Twelve months termination pay if termination occurs where no continuing role of similar level is available following a successful takeover of Fitzroy

• Two months’ notice in the event of resignation

For further information contact:

Mr Benjamin Lane Mr Simon Robertson Chief Executive Officer Company Secretary +61 8 9481 7111 +61 8 9481 7111

About Fitzroy Resources

About Fitzroy Resources
Capital Structure
Share Code	ASX: FRY
Shares on Issue	73.5 Million
Options	6 Million
Performance Shares on issue	20 Million
Directors and Management		Projects
Tom Henderson,Chairman		Emmaus:	Rookwood:
Will Dix,Director		Hard Coking Coal Property	VHMS copper/gold prospect
Ric Vittino,Director		West Virginia, USA	70km NW of Rockhampton, Qld
Russell Lynton-Brown**, Director**		100km S of Charleston, WV	Glentanna:
		Blackstone:	VHMS copper/gold prospect
Benjamin Lane**, Chief Executive**	Officer	Hard Coking Coal Property	140km SW of Brisbane, Qld
Simon Robertson,Company Secretary		West Virginia, USA100km S of Charleston, WV

Fitzroy Resources Ltd is an Australian based coal development company, with two hard coking coal projects in West Virginia, USA.

Fitzroy’s main focus is to explore the coal potential of the Emmaus and Blackstone projects for hard coking coal and to rapidly develop into a producer of hard coking coal to the US domestic and export markets.

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FIGURE 1 – LOCATION OF EMMAUS AND BLACKSTONE

Fitzroy also owns the Rookwood and Glentanna exploration tenements in Queensland, Australia. Rookwood contains significant potential for the discovery of substantial VHMS copper/gold deposits beyond the existing resource.

Competent Person Statement

The information in this report that relates to Exploration Results is extracted from the report entitled “Independent Technical Report Completed for the Emmaus and Blackstone Properties” created on 6 December 2013 and is available to view on www.asx.com.au and www.fitzroyresources.com.au . The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcement.

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