FENIX RESOURCES LTD — Board/Management Information 2013

Jun 23, 2013

Emergent Reinvigorates Board and Secures Further Strategic Chinese Shareholder

• Appointment of Dr Andrew Tunks as Executive Director to drive project acquisition and growth

• Appointment of Hong Kong based lawyer SK Wong as Non-Executive Director

• Placement of 20M shares at 1.3c to strategic Chinese shareholder, being a 30% premium to the current share price, to raise $260,000, taking total cash to in excess of $3,000,000

Emergent Resources Ltd (EMG or the Company) is pleased to announce the appointment of Dr Andrew Tunks, a geologist and resource company director of 25+ years’ experience, as an Executive Director. Dr Tunks has led successful exploration teams in Africa leading to the discovery of several gold deposits in Ghana as well as Botswana’s largest Uranium deposit and two coal discoveries. As Managing Director of A-Cap Resources Ltd he raised over $40M to fund its Botswana uranium exploration. Dr Tunks has been charged with developing the Company’s existing assets and leveraging the Company’s excellent capital structure and strong cash position to grow the Company through acquisition and investment.

In addition, the Company has appointed Mr SK Wong, a Hong Kong based lawyer, as a NonExecutive Director. Mr Wong is admitted to practice law in Hong Kong and New York and also has Chinese legal qualifications. He has been involved in the restructuring, financing and listing of commercial enterprises in Hong Kong and mainland China as both a lawyer and executive and brings excellent legal and commercial contacts to the Company.

The Company has also appointed existing Director Mr Jian Hua Sang as Non-Executive Chairman in the place of Mr Wolfgang Fischer. Mr Fischer will continue as a Non-Executive Director.

The Company has agreed to place 20,000,000 shares at 1.3c per share to raise $260,000 to Advanced Endeavour Enterprises Limited, a company associated with sophisticated investor Mr Wei Rong Yang. Mr Yang is a successful businessman and investor in both the minerals and real estate sector based in Hong Kong. He has many years of commercial experience in the Asia-Pacific Region and has established a long-term interest in precious and nonferrous metals . The Board welcomes Mr Yang as a significant strategic shareholder and looks forward to a long and fruitful relationship with him. The funds raised from the Placement will be used, along with

existing cash, for the development of the Company’s existing projects and for acquisitions and investments.

Development of Existing Projects

Dr Tunks has commenced an immediate review of the Company’s existing Extension and Extension North Gold Projects and its Beyondie Iron Project with a view to the development of both of these projects. The Company shall advise shortly as to next steps to be taken with each of these projects.

New Projects

As previously announced, the Company has allocated part of its working capital budget to the identification and evaluation of new mineral resource opportunities in Australia and overseas. In this regard the Company is actively reviewing a number of potential acquisitions across a range of commodities. Dr Tunks brings a wealth of experience in sourcing, review, securing and development of new mineral resource projects, and along with continuing to develop the Company’s existing assets, will be focussed on growing the Company through strategic acquisitions and investments.

Dr Andrew Tunks

Dr Tunks holds B.Sc. (Hons) from Monash University and a Ph.D. in geology from the University of Tasmania. He has over 25 years of experience in exploration and mining in Australia, Africa and South America. Dr. Tunks’ core expertise is in structural and economic geology relating to gold deposits. As a former Senior Lecturer in Geology at the University of Tasmania he has been published in peer-reviewed journals and presented at various international conferences. He is also an accredited member of The Australian Institute of Geoscientists.

Dr Tunks has been able to combine his academic credentials with a very successful career in exploration leading successful exploration teams in West Africa and Botswana. Prior to becoming the CEO at A-Cap Resources Ltd, he was Chief Geologist with IAMGOLD Corporation and held gold exploration positions with Ranger Minerals Limited in West Africa, North Ltd and Western Mining Corporation in Western Australia. Dr Tunks has held Managing Director positions at A-Cap Resources Ltd, Botswana Metals Ltd and was CEO at Ausgold Limited, during that time he has managed several capital raisings in domestic and international financial markets raising over $50M for exploration activities.

Dr Tunks will initially be employed as an Executive Director on a part time basis of not less than two days per week. It is anticipated that this will expand to a full time role upon the securing of a further project for the Company. The term of Dr Tunks engagement is ongoing subject to either party giving three months’ notice.

Dr Tunks salary as a part time Executive Director is $95,000 per annum excluding mandatory superannuation contributions, to be reviewed upon the securing of a further project for the Company. In addition, the Company has agreed to grant Dr Tunks the following options:

• 5 million options exercisable at 2.5c within 4 years of date of grant and vesting on first anniversary of grant provided Dr Tunks is still employed by EMG; and

• 5 million options exercisable at 5c within 5 years of date of grant and vesting on first anniversary of grant provided Dr Tunks is still employed by EMG.

For further information please contact:

Patrick Burke Director Emergent Resources Limited PH: +61 8 9420 9300 E: admin@emergentresources.com.au Website: www.emergentresources.com.au