FENIX RESOURCES LTD — Capital/Financing Update 2009

Apr 19, 2009

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ASX/MEDIA RELEASE

20 April 2009

EMERGENT RESOURCES COMMENCES DISCUSSIONS WITH POTENTIAL CHINESE OFFTAKE PARTNERS

Perth-based exploration company Emergent Resources Limited (ASX: EMG) (Emergent) is pleased to announce that it has commenced discussions with Chinese parties for participation in its Beyondie Iron Project in the mid-west region of Western Australia.

In response to interest expressed by a number of Chinese groups, Managing Director Garry Hemming is meeting with several steel smelting groups in China for initial discussions to develop mutually acceptable parameters for future off-take arrangements and investment partnerships for the development of the Beyondie Project.

Mr Hemming will also take the opportunity to meet with other steel smelters and end-user groups in China to identify other future potential off-take and investment partners for Beyondie.

The project is located in the northern part of the WA’s mid-west iron ore precinct, immediately adjacent to the Great Northern Highway and Goldfields Gas Pipeline. The project will directly benefit from the recent WA Government-OPR mid-west infrastructure agreement which will provide certainty for Beyondie’s future mine-to-port infrastructure requirements.

The Company is currently completing its Phase II reverse circulation (RC) 3,700 metre 30 hole drill program over the initial 7km segment of the known 45km total strike length at Beyondie. Results will be announced to the market as soon as the independent assay results and interpretation have been completed.

Emergent plans to develop its world class Beyondie project into a robust, long term, high grade magnetite mining operation. EMG and has now completed its internal business model on the financial and logistic parameters for the development of Beyondie.

ENDS

For further information please contact:

Garry Hemming Managing Director Emergent Resources Mob: 0419 835 757 E: ghem@westnet.com.au Website: www.emergentresources.com.au

James Moses Media and Investor Relations Mandate Corporate Mob: 0420 991 574

Technical information in this report has been prepared under the supervision of Mr Garry Hemming, a 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 consideration and 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.

Project Location Map

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