FENIX RESOURCES LTD — Board/Management Information 2011

Dec 21, 2011

ASX / MEDIA RELEASE

22 December 2011

EMERGENT ANNOUNCES BOARD CHANGES

• Appointment of Mr Nathan Lude as Managing Director

• Mr Wolfgang Fischer moves from Executive Chairman to Non‐Executive Chairman

• Appointment of Mr Francis De Souza as Non‐Executive Director

• Mr Stuart Hall and Mr Nicholas Martin step down from Board as Non‐Executive Directors

Emergent Resources Limited (Emergent or the Company) (ASX:EMG) is pleased to announce a number of changes to its Board effective from 22 December 2011.

Appointment of Managing Director – Mr Nathan Lude

The Board advises that the Company’s Chief Executive Officer, Mr Nathan Lude, has moved to the role of Managing Director.

Mr Lude was appointed Chief Executive Officer of the Company on 7 October 2010 and has been responsible for management of the Company since that date and has successfully overseen the Company’s recent capital raisings.

Mr Wolfgang Fischer changes from Executive Chairman to Non‐Executive Chairman

The appointment of Mr Lude as Managing Director has enabled Mr Wolfgang Fischer to move to a non‐ executive role as the Company’s Non‐Executive Chairman.

Appointment of Non‐Executive Director ‐ Mr Francis De Souza

Highly regarded finance professional Mr Francis De Souza has been appointed as a non‐executive director

Mr De Souza, who has a Bachelor of Commerce from Curtin University in Western Australia, has 12 years experience in financial services, especially in corporate advisory and equity markets with a specific focus in the resources sector. Mr De Souza's business experience has included equity structured sales and trading, mergers and acquisitions, asset divestments, equity and hybrid financing, corporate business development and project evaluation across a range of mineral commodities.

He is a co‐founder of Otsana Capital, a boutique advisory firm specialising in mergers and acquisitions, capital raisings, Initial Public Offerings (IPO's) and corporate restructuring. Mr De Souza is a Director of Epic Resources Ltd and Conto Resources Ltd, both junior exploration companies with projects in Australia.

Emergent Resources also announces that Mr Stuart Hall and Mr Nicholas Martin have stepped down as Non‐ Executive Directors.

The Board would like to thank Mr Hall and Mr Martin for their valuable contribution and service to the Company during their time as Non‐Executive Directors on its Board.

Mr Martin has generously agreed to remain as an adviser to the Board.

Commenting on the changes Emergent Chairman, Wolfgang Fischer, said the positional changes and the appointment of Mr De Souza were part of the corporate refinement of the Company in light of its signing of a binding co‐investment agreement with Chinese firm International Natural Resources Ltd (INR) (see ASX announcement 16 December 2011).

“The changes have been made as part of the Company’s ongoing cost reduction strategy, whilst ensuring that the composition of the Board retains the required business and leadership qualities to advance the Company.

“The smaller Board will provide Emergent with the flexibility to build the Board in the future in response to the requirements of new projects that it adds to its portfolio.

“With this in mind we believe that Mr De Souza’s experience and skills are a excellent fit,” Mr Fischer said.

Wolfgang Fischer

Chairman

The Board of Emergent Resources Limited currently comprises:

Mr Wolfgang Fischer – Chairman Mr Nathan Lude – Managing Director Mr Francis De Souza – Non‐Executive Director

For further information please contact:

Nathan Lude Managing Director

Wolfgang Fischer Executive Chairman

Emergent Resources Limited PH: +61 8 9380 9122 E: admin@emergentresources.com.au Website: www.emergentresources.com.au