CADOUX LIMITED — Interim / Quarterly Report 2012

Oct 29, 2012

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QUARTERLY REPORT FOR THE PERIOD ENDING 30[th] SEPTEMBER 2012

ACTIVITY SUMMARY

• A diamond drill hole was completed testing the Anomaly 18 prospect at Yarlarweelor.

• Management continues to review other projects.

• An R&D rebate of $119,600 was received in respect to past expenditure on the Yarlarweelor project .

REVIEW OF OPERATIONS SEPTEMBER QUARTER 2012

YARLARWEELOR: Uranium project – WA (100% interest)

The Yarlarweelor uranium project is located 125 km north of Meekatharra in Western Australia 2 and consists of two granted exploration licences covering an area of 656km .

The Company is targeting significant uranium mineralization (in the form of uraninite) present within the Archaean Despair Granite where it is associated with biotite schists in shear zones.

Previous FYI mineralised drill intersections on the project at Kangaroo Ridge include:

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

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

Results from a detailed airborne radiometric survey and geological mapping indicate shear zones prospective for uranium mineralization have a combined strike length in excess of 25 kilometres exist within the Company’s tenements.

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ACTIVITY REVIEW

During the quarter a diamond drill hole, YAD12-01, was completed for a total depth of 199metres. The hole was collared at 7180907N 627387E and drilled at an azimuth of 090 degrees and a dip of 50 degrees. It targeted the northern end of a 1500metre long zone of anomalous surface radioactivity associated with biotite schist shear zones. While the hole intersected several targeted zones of biotite schist cutting granite, uranium values were low.

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Yarlarweelor Location Map

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Yarlarweelor Geology

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Location of Drill hole YAD12-01

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Yarlarweelor Mineralised Section Yarlarweelor U308 Drill Targets

RESEARCH AND DEVELOPMENT REBATE

The Company applied for, and received, a rebate from the Federal Government for approximately $119,600 in respect to past expenditure on metallurgical testwork on the uranium mineralization that the Company had previously intersected at the Kangaroo Ridge prospect which forms part of the Yarlarweelor project.

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NEW PROJECT REVIEW

The Company has identified a number of broader growth opportunities and has actively undertaken detailed reviews on a number of selected key projects. The projects are prospective for uranium, copper and other commercial commodities both in Australia and overseas. This work is continuing with the strategy of identifying a principle project in which FYI can develop into a long term value accretive asset.

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Further Information:

Adrian Jessup Roland Hill Director Chief Executive Officer Tel: (08) 9361 3100 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.

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