FENIX RESOURCES LTD — Capital/Financing Update 2011

Nov 17, 2011

18 November 2011

Company Announcements Office

Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

Placement of Shortfall Shares – Non-Renounceable Entitlement Issue

Emergent Resources Limited (Emergent) is pleased to announce that is has raised $1,494,345 from placement of the Company’s shortfall shares arising from the non-renounceable Entitlement Issue that closed on 20 October 2011.

Emergent advises that it has successfully placed 49,811,531 ordinary fully paid shares, at a price of 3 cents per share, of its Entitlement Issue shortfall to sophisticated and professional investors on Thursday 17 November 2011.

This placement of shares completes the placement of the Entitlement Issue shortfall.

Following completion of the shortfall placement the Company has the following securities on issue:

184,246,392 Ordinary fully paid shares 3,700,000 Unlisted options exercisable at $0.20 each on or before 31 August 2012 300,000 Unlisted options exercisable at $0.26 each on or before 8 September 2012 125,000 Unlisted options exercisable at $1.00 each on or before 30 September 2012 1,046,443 Unlisted options exercisable at $0.26 each on or before 27 October 2012 125,000 Unlisted options exercisable at $1.50 each on or before 30 September 2013

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