CADOUX LIMITED — Interim / Quarterly Report 2011

Jul 28, 2011

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QUARTERLY REPORT FOR THE PERIOD ENDING 30 JUNE 2011

Yarlarweelor Exploration Highlights

• RAB drilling program testing various magnetic, uranium and thorium anomalies completed. Assays pending

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Yarlarweelor Location Map

Corporate Highlights

• Successful capital raising finalised subsequent to the end of the quarter via a share placement to sophisticated investors and all FYI directors raising $600,000 for project generation.

• Board and management strategy meeting held to establish strategic direction and growth options for FYI.

• A intensive review of selected projects initiated during quarter.

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REVIEW OF OPERATIONS JUNE QUARTER 2011

SUMMARY

During the June quarter at Yarlarweelor, the Company completed a RAB drilling program consisting of thirty six holes totalling 1,306 metres. Full assay results from this program are pending. An archaeological clearance survey was also completed over selected sites.

YARLARWEELOR: Uranium project – WA (100% interest) The Yarlarweelor uranium project is located 125 kilometres north of Meekatharra in Western 2 Australia and consists of two granted exploration licences covering an area of 656km .

As reported in the June 2010 Quarterly report, the Company confirmed the presence of significant primary uranium mineralisation in the form of uraninite within the Archaean Despair Granite on E52/2095. Drilling at the Kangaroo Ridge prospect intersected wide zones of uranium mineralization associated with biotite schists returning drill intersections such as:

• 35m @ 503ppm U3O8 from 125.1m, including 5m @ 1,069ppm U3O8; and

• 7.8m @ 588ppm U3O8 from 47.8m, including 1m @ 1,873ppm U3O8

The mineralized biotite schists are related to shear zones developed within the Archaean Despair Granite. Results from a previous detailed airborne radiometric survey and geological mapping indicates shear zones with a combined strike length in excess of 25 kilometres exist within the Company’s tenements and may be prospective for uranium mineralization.

At the Doris prospect assaying of diamond drill core from DD10-01 has indicated that uranium mineralization is not restricted to shear zones but may also occur within the surrounding granite (Figure 3). Prospective areas for this style of mineralization were identified during the December 2010 quarter and remain a high priority drill target.

Due to access problems, the current RAB drilling program was restricted to the central portion of the project area separate from the areas previously drilled at Kangaroo Ridge and Doris. The drilling was designed to test a number of discrete magnetic, uranium and thorium anomalies defined from previously flown radiometric and aeromagnetic surveys.

Thirty six holes totalling 1,306 metres were drilled. Assay results have been received for seven of these holes with only low uranium and thorium values reported. Assays for the remaining twenty nine holes are due in August.

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Yarlarweelor Geology

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Yarlarweelor Mineralised Section Yarlarweelor U308 Drill Targets

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MT JAMES CREEK: Uranium project – WA (100% interest)

The Company has applied for two exploration licences in the Gascoyne region of Western Australia which are prospective for uranium mineralization. These two licences cover an area of 43sq km in the Morrissey Metamorphics and are located 300km east of Carnarvon, see Figure 5.

The area contains a number of historical uranium prospects which were investigated during the 1970’s. RC and diamond drilling recorded the presence of uraninite mineralization eg 455ppm U3O8 over 1.3m and 11m @ 137ppm U3O8 , in a sequence of quartz-biotite-chlorite schists and coarse grained siliceous granites.

No work was undertaken during the quarter.

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Mt James Creek Project Location Map

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NEW PROJECTS

Following a strategic review of FYI’s business model, the Company has identified and actively undertaken detailed reviews of a number of new projects both in Australia and overseas. These projects are prospective for uranium, rare earths, and other commodities.

An extensive review of several of the selected key assets that were determined by the board to be analogous to our corporate goal is now well on the way.

CORPORATE

FYI undertook a capital raising during the quarter to allow for adequate funding for the company to effectively pursue its growth ambitions.

The raising of $600,000 was successfully placed to interested sophisticated investors with all the directors of the Company and the CEO also taking an allocation of the placement.

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Further Information:

Adrian Jessup Director Tel: (08) 9361 3100

Roland Hill Chief Executive Officer Tel: 0414666178

eU and eU3O8 are values obtained using a calibrated Exploranium GR-135 spectrometer.

The information in this report that relates to Exploration Results has been compiled by Mr. David Ross B.Sc(Hons), M.Sc. who is an employee of Empire Resources Ltd. He is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. He has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. David Ross consents to the inclusion in the public release of the matters based on his information in the form and context in which it appears.