FENIX RESOURCES LTD — Board/Management Information 2010

Oct 6, 2010

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ASX/MEDIA RELEASE ASX Code: EMG

7 October 2010

BOARD AND MANAGEMENT CHANGES

Appointment of Executive Chairman

The Board is pleased to announce the appointment of Mr Wolfgang Fischer as Executive Chairman. Mr Fischer has recently joined the Board and has more than 35 years of top level experience in the Australian and international natural resources industry. He has held executive management and board positions in a range of operational and corporate roles with several large and successful local and international companies exploring for and developing natural resources. Mr Fischer has a strong background in corporate governance, and has considerable mineral and petroleum project management experience in operating joint ventures from project start-up to production.

It is part of the Company’s Business Model and Strategic Plan is to bring on experienced executives to advance the Company in its transition from explorer to the development phase. In accordance with this plan further changes to the Board and Management have been made as set out below.

Appointment of Chief Executive Officer (‘CEO’)

The company has engaged Mr Nathan Lude as Chief Executive Officer. Mr Lude is director of a number of unlisted companies and is a successful businessman with over 14 years experience investing in, developing and operating businesses associated with the asset management industry. He has a Bachelor of Business Marketing and a Masters Degree (Bond University).

Mr Lude’s business skills are focused on developing and implementing effective business systems and operational procedures, financial controls and the management of business operations. Mr Lude has the ability and management experience to play a leading role in the development of Emergent as it enters a new phase.

Resignation of Managing Director

Managing Director Mr Hemming has resigned from his current position and will shift his focus to the advancement of Emergent’s base metal and uranium asset portfolio.

Mr Hemming will continue to provide exploration and technical advice to the Company and assist the CEO during the transition period.

Resignation of Non Executive Director

Mr Kevin Judge has also resigned as non Executive Director.

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The Board wishes to thank Mr Hemming and Mr Judge for their respective contributions as Directors to the development of the company from its initial IPO.

The current Board of Emergent Resources Limited comprises:

Mr Wolfgang Fischer – Executive Chairman Mr George McMaster – Non Executive Director Mr Robert Boylan – Non Executive Director

For further information please contact:

Wolfgang Fischer Nathan Lude Executive Chairman Chief Executive Officer Emergent Resources Limited Emergent Resources Limited PH:08 94816600 PH: 08 94816600 E: admin@emergentresources.com.au E: admin@emergentresources.com.au Website: www.emergentresources.com.au Website: www.emergentresources.com.au

About the Beyondie Iron Project

The Beyondie Project is located adjacent to the Great Northern Highway and Goldfields Gas Pipeline in the northern part of WA’s mid-west iron ore precinct. Potential shared rail and port infrastructure developments for the project are in progress.

The project has a JORC Inferred Mineral Resource of 561 million tonnes grading 27.5% Fe and an additional 480–520 million tonne Exploration Target in the drilled area, plus another 3.7-4.2 billion tonne Exploration Target outside the drilled area. (Refer ASX release 25 November 2009). The latter Target mineralisation is based on aeromagnetic data and geological mapping with the interpreted volumes modelled and confirmed as part of the independent Beyondie Mineral Resource Modelling study.

Initial metallurgical test work has shown the potential for the project to produce a high grade magnetite concentrate of +68%Fe, with very low impurities (aluminium, titanium, phosphorous and sulphur).

In addition, Emergent recently announced a new, large Direct Shipping Ore hematite iron discovery at the project, of an independently assessed Exploration Target of 70-120Mt over a 6.5km portion in tenement E52/2215 (Refer ASX release 2 June 2010).

The potential quantity and grade of the Exploration Targets is conceptual in nature. There has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource

The Company plans ongoing exploration programs to expand the size of the magnetite Resource base at the project, and confirm a hematite mineral resource.

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Technical information in this report has been prepared under the supervision of Mr Garry Hemming, an immediate past director of the company and a member of the Australasian Institute on Mining and Metallurgy (AusIMM). Mr Hemming has sufficient experience which is relevant to the style of mineralisation under considerationand to the activity 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” (the JORC Code). Mr Hemming consents to the inclusion in this report of the Information, in the form and context in which it appears.

The information in this statement that relates to Mineral Resources is based on information compiled by Sharron Sylvester who is a full time employee of AMC Consultants Pty Ltd and a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration to qualify as a Competent Person as defined in the JORC Code (2004). Sharron consents to the inclusion of this information in the form and context in which it appears.

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