4DS MEMORY LIMITED — Interim / Quarterly Report 2012

Apr 29, 2012

FITZROY RESOURCES LTD

ABN 43 145 590 110

Fast Facts - April 2012 Share Code ASX: FRY Shares on Issue 41 Million Options 11 Million Market Cap $4.1M @ $0.10c Cash at Bank $ 2.2M

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

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30 April 2012

Quarterly Report for the period ending 31 March 2012

HIGHLIGHTS

 New drilling targets identified from IP at Comanche Prospect

• Further soil sampling areas defined

• Field work to re-commence at Comanche and Wilsons during

• the next quarter

Exploration

Rookwood Project (100% FRY)

Re-interpretation of the historic IP data from the Comanche Prospect has confirmed that there are several robust anomalies along strike from the surface mineralisation that are yet to be tested.

The four chargeability anomalies centred on Line 13600E extend eastwest for at least 500m and are not tested with drilling. The anomalies are not deep (less than 125m) and will be tested with RC holes.

Figure 1 shows the dipole-dipole chargeability pseudosection for line 13600E. Shallow surface drilling can be seen which fails to test the anomalies.

A short RC program has been planned to test these conductors and it is expected that this will be completed during the June quarter once a drill rig becomes available.

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

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----- Start of picture text ----- Line 13600E 2Line 13600E 1Line 13600E 3 Line 13600E 4----- End of picture text -----

Figure 1 – dipole-dipole chargeability section 13600E at Comanche

Field work planned during the next quarter includes further soil sampling and drilling of geophysical and geochemical targets at both Comanche and Wilsons.

Glentanna Project (FRY 100%)

A Fixed Loop EM survey over the Grieves Quarry area which is prospective for VHMS base metal mineralisation was completed early in the quarter. The results confirm the presence of a conductor at Grieves however the modelled extent of the mineralisation is limited in size.

The sharp anomaly seen on line 6857250N (Figure 2) is interpreted as being sourced from a shallow conductor of very small lateral extent. The anomaly is seen over several stations indicating the source is real however the lack of support on lines to the north and south indicate a very short strike length. Position of this anomaly coincides exactly with the location of the massive sulphide intersected in historic drilling.

There is also a second larger but poorly constrained conductor to the east of the main target area. Further work is required to establish the source of this conductor.

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.

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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----- Start of picture text ----- 401850 m 402100 m 402350 m 402600 m 402850 m 403100 m401850 m 402100 m 402350 m 402600 m 402850 m 403100 m Figure 2: Glentanna FLEM channels 16-21 . Modelled plates as shown. Background image TMI1VD 400mdata.6858000 m 6858000 m6857750 m 6857750 m6857500 m 6857500 m6857250 m 6857250 m6857000 m 6857000 m6856750 m 6856750 m6856500 m 6856500 m6856250 m 6856250 m6856000 m----- End of picture text -----