FENIX RESOURCES LTD — Capital/Financing Update 2010

Oct 13, 2010

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ASX/MEDIA RELEASE

14 October 2010

ASX Code: EMG,

Issue of Shortfall Shares To Underwriter

In accordance with the Subscription and Underwriting Agreement (Agreement) with Casimir Capital Asia Pacific Pty Ltd (Casimir or Underwriter) the Underwriter has completed its underwriting commitment in respect of the options expiring 30 September 2010. A total of 1,723,308 ordinary fully paid shares have been issued by the Company as per the shortfall notice provided to the Underwriter and announced to the ASX on 7 October 2010.

Emergent has consequently raised $4,253,841 from the options conversion, which sees Emergent in a sound cash position.

Following conversion of the options expiring 30 September 2010 the Company’s current issued capital is 80,076,767 shares.

Emergent’s team is now taking the next steps in progressing the Beyondie deposit to development and advancing the exploration of its exciting base metal, gold and uranium prospects.

For further information please contact:

Nathan Lude Chief Executive Officer

Wolfgang Fischer Executive Chairman

Emergent Resources Limited PH: 08 94816600 E: admin@emergentresources.com.au Website: www.emergentresources.com.au