FENIX RESOURCES LTD — Board/Management Information 2011

May 15, 2011

ASX/MEDIA RELEASE 16th May, 2011

EMERGENT RESOURCES STRENGTHENS BOARD WITH APPOINTMENT OF HIGHLY REGARDED ENGINEER AND TRANSPORTATION SPECIALIST

Diversified Western Australian exploration and development company, Emergent Resources Limited (ASX: EMG) (“Emergent” or “the Company”), is pleased to announce the appointment of Mr Geoff Cowie to its Board as a Non-Executive Director.

Mr Cowie brings more than 35 years experience in the fields of resource and infrastructure development, project management and construction contracting, having worked on major resource development projects in Australia, China, Bulgaria, Malawi, India and Africa.

Commenting on the appointment, Emergent Resources’ Executive Chairman, Wolfgang Fischer, said “Geoff Cowie is a perfect fit for the restructured Emergent Resources Board and he fills in another important piece of the Beyondie development picture”.

“As we progress the development of our exciting Beyondie Iron Project a key aspect will be identifying and implementing the optimal solution for the development and transportation of a large tonnage, bulk commodity. Geoff’s experience and knowledge in that area will prove invaluable”.

“Geoff possesses a remarkable insight into assessing and identifying innovative transportation and infrastructure solutions, which will be well utilised as Emergent moves forward to commercialise the Beyondie iron resource,” Mr Fischer said.

ROBERT BOYLAN TO STEP DOWN

Emergent Resources also announces that Non-Executive Director, Robert Boylan, has elected to step down from the Company’s Board at the end of June, 2011.

Mr Boylan, the Company’s largest shareholder, said, “I accepted appointment to the board, to focus on restructuring Emergent’s leadership team. I am now satisfied that Emergent possesses the appropriate experience and knowledge to allow it to achieve its full potential”.

“With the complimentary skill sets and experience of the board and management I now believe we have a team that will take Emergent to the next level and develop its exciting suite of assets.”

Thanking him for his important contribution to Emergent as a Non-Executive Director, Mr Fischer said that Mr Boylan had been an invaluable source of business experience and skill in the restructuring of the Company.

GEOFF COWIE BACKGROUND

Mr Cowie was previously the Project Director of Oakajee Port and Rail (OPR) where he worked on the $4.5 billion OPR infrastructure development, which comprises 570km of heavy haulage rail and a deepwater port at Oakajee in Western Australia’s Mid-West Region.

Prior to joining OPR in 2009, Mr Cowie was the Senior Project Manager, Engineering of Kellogg Brown and Root where he was responsible for a suite of projects and studies for Rio Tinto in the Pilbara Region of Western Australia which were undertaken in collaboration with Lycopodium.

During his extensive career, Mr Cowie has undertaken a range of feasibility studies for several Australian nickel and iron ore companies, a port upgrade, been involved with the Marandoo and West Angelas iron ore process plants, the Mining Area C development for BHP Billiton and 115km of heavy haul railway and access roads for the iron ore mines in the Pilbara regions of Western Australia.

Mr Cowie’s overseas experience covers work on a range of other civil engineering projects including a major aluminium development in India, rail bridges in South Africa and airport construction work in Malawi.

Other significant projects during his career include a major nickel development in New Caledonia, preparatory works for a plant upgrade at a copper/gold mine in Bulgaria, the China Coil coating project for BlueScope Steel in Suzhou, and MIM Newlands Coal Project, Ticor’s Cooljarloo Mineral Sands development and iron ore, coal, uranium and gold projects in South Africa.

Mr Cowie commenced his career in 1974 as a Senior Engineer for Roberts Construction in South Africa, before moving back to Australia in 1980 to take on the role of Project Manager for Robert Construction where he was responsible for the construction of the Leach Highway Bridge project and minor civil works at the Newman mine site in the Pilbara Region of Western Australia.

He holds a Bachelor of Engineering from the University of Tasmania, a Graduate Diploma in Municipal Engineering from the Warrnambool Institute of Technology in Victoria, obtained the Victorian Local Government Engineer qualification and is a Graduate of the Australian Institute of Company Directors 2010.

ENDS

For further information please contact:

Nathan Lude Wolfgang Fischer Chief Executive Officer Executive Chairman Emergent Resources Limited PH: +61 8 9380 9122 E: admin@emergentresources.com.au Website: www.emergentresources.com.au

MEDIA:

David Brook Professional Public Relations +61 8 9388 0944 Em: david.brook@ppr.com.au