4DS MEMORY LIMITED - Interim / Quarterly Report 2012

www.fitzroyresources.com.au

FITZROY RESOURCES LTD 28 October 2011 ABN 43 145 590 110 Fast Facts - October 2011 - October 2011 Quarterly Report for the period ending 30 September 2011

Fast Facts - October 2011 - October 2011 Share Code ASX: FRY Shares on Issue 41 Million Options 11 Million Market Cap $5.3M @ $0.13c Cash at Bank $ 2.7M Directors and Management Tom Henderson, Chairman Will Dix, Managing Director Ric Vittino, Director

HIGHLIGHTS

Drilling continues to extend the mineralisation south of the Develin Creek Resource limits.
Narrow zones of mineralisation identified in 3 of 4 diamond holes.
Initial RC program completed at the Lygon Prospect

Projects Rookwood:

Regional exploration push gaining momentum
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

Corporate

Fitzroy has on issue a total of 41,000,005 Shares and 11,000,000 unlisted 30 cent options. On 30 September 2011 3,937,500 were released from escrow which brings the total number of tradeable Fitzroy securities to 31,062,505.

Glentanna:

140km SW of Brisbane
Total area approx. 75km[2]

The Company continues to review additional projects both in Australia and offshore for value-accreting opportunities.

Greenfields Exploration
Drilling identified low level Cu/Zn mineralisation
Previous drilling intersected 12.3m @ 1.2% Cu and 8.9% Zn

Cash at the end of the quarter totalled $2.7 million

Exploration

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Rookwood Project (100% FRY)

Two drilling campaigns were completed in the September quarter to firstly follow up drilling from earlier in the year and secondly to test two of the regional targets identified from geophysical surveys.

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The follow up drilling program to that completed during the June quarter has successfully extended the mineralisation further south at the Sulphide City resource but failed to intersect economic widths. Three holes were drilled to follow up FRWD0002 which intersected 13m @ 3.3%Cu, 4% Zn and 30g/t and each returned narrow intersections of copper, zinc and silver mineralisation with the results tabulated in Table 1 and shown on the plan projection of the Sulphide City mineralisation in Figure 1.

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 [email protected]

An additional 2 RC drillholes were completed a further 200m south of the sulphide city resource and one of these (FRWC0007) intersected a broad zone of disseminated to semi-massive sulphides. Analytical results from these holes are pending.

Even though drilling south of Sulphide City failed to intersect economic mineralisation it has continued to identify sulphides to the south of the limits of the resource confirming the mineralised system extends further than first thought. Follow up work to establish the limits of the resource

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will continue however regional exploration will take a more prominent role going forward.

To the east of Develin Creek resource hole FRWD0006 was drilled into a geophysical target and intersected a broad hematite alteration zone but no mineralisation.

All diamond holes have been prepared for future downhole EM surveying.

4 RC drillholes were also drilled into EM and IP targets at the Lygon Prospect but failed to intersect any visible sulphide mineralisation. Analytical results for these holes are pending and the collar details are shown below in Table 2 and in Figure 2.

Hole ID	Northing	Easting	Rl	From	Width	Cu	Zn	Ag	Au
FRWD0003	7450262	788954	134	174.00	0.8	2.9	3.4	26	0.2
FRWD0004	7450321	789084	121	122.20	1.05	3.5	1.7	21	0.6
FRWD0005	7450346	789035	126	142.92	0.3	4	0.03	12	0.3
FRWC0007	7450210	789087	120			Resultspending
FRWC0008	7450200	788923	115			Resultspending

Table 1 – Drilling details for holes completed at Sulphide City during the quarter.

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Hole ID	Prospect	Northing	Easting	Rl	Cu
FRWD0006	Sulphide CityEast	7450318	789581	115	Resultspending
FRWC0009	Mexico	7449828	789264	125	Hole Failed
FRWC0010	Lygon	7444763	790781	115	Resultspending
FRWC0011	Lygon	7444705	790065	115	Resultspending
FRWC0012	Lygon	7445133	789966	115	Resultspending

Table 2 – Drilling details for regional holes completed during the quarter.

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Most of the historic IP and gravity data has now been reviewed and has continued to identify areas that require further work. Specifically these include Jabiru, Mexico, Comanche and Glenroy. These areas will be the focus of much of the desktop work over the coming summer months. The areas can be seen on Figure 3.

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Further Work

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Work during the next quarter and the wet summer months will include:

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Review and work program development of the Comanche area where previous work has identified secondary copper mineralisation at surface
Ongoing work on the large number of unresolved geophysical and geochemical anomalies specifically at Jabiru, Glenroy and Mexico.
Revision of the original stream sediment data and evaluation of this to create target basins

A combination of these can then be used to prioritise targets for follow-up, including additional surface geochem (additional stream sediment sampling if stream density allows or Niton soils) and/or RAB drilling over areas of cover.

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Glentanna Project (FRY 100%)

A work program has been formulated for the Glentanna Project and timing is dependent on geophysical crew availability. It is expected that the survey will be completed late in the year or early next year.

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.

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COMPETENT PERSONS STATEMENT :

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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.

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The information in this document that relates to Exploration Results has been compiled by Mr William Dix. Mr Dix, who is a Member of the Australasian Institute of Mining and Metallurgy is a full time employee of the Company. Mr Dix 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. Mr Dix consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

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Figure 1 – Plan projection showing the projection of the Sulphide City resource and the outline of massive sulphide mineralisation.

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Figure 2 – Plan showing RC drillhole locations at the Lygon Prospect.

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ASX: FRY
www.fitzroyresources.com.au
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Figure 3 - showing the areas of short to medium term regional exploration focus.

AI assistant

4DS MEMORY LIMITED Interim / Quarterly Report 2012

64258_rns_2011-10-27_e8e9f87a-f665-487d-8968-381845581dfc.pdf

HIGHLIGHTS

Corporate

Glentanna:

Exploration

Rookwood Project (100% FRY)

Contact Details

Further Work

Glentanna Project (FRY 100%)

ABOUT FITZROY :

COMPETENT PERSONS STATEMENT :

AI assistant

4DS MEMORY LIMITED — Interim / Quarterly Report 2012

64258_rns_2011-10-27_e8e9f87a-f665-487d-8968-381845581dfc.pdf

HIGHLIGHTS

Corporate

Glentanna:

Exploration

Rookwood Project (100% FRY)

Contact Details

Further Work

Glentanna Project (FRY 100%)

ABOUT FITZROY :

COMPETENT PERSONS STATEMENT :

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4DS MEMORY LIMITED Interim / Quarterly Report 2012