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FENIX RESOURCES LTD Capital/Financing Update 2011

Oct 24, 2011

64910_rns_2011-10-24_a26260f5-a828-4ee4-9fc1-0cd5f2b0f148.pdf

Capital/Financing Update

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25 October 2011

Company Announcements Office

Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Non‐Renounceable Entitlement Issue – Notification of Under‐subscription

The Directors advise that on Thursday, 20 October 2011, the Company’s Non‐Renounceable Entitlement Issue (Offer) closed.

A total of 36,453,203 ordinary fully paid shares at 3 cents each have been subscribed for pursuant to the Offer. In addition the Company has received applications for 5,858,462 shortfall shares pursuant to the Offer. The issue has raised a total of $1,269,350.

The Directors will now seek to place the shortfall of 49,811,531 shares at 3 cents each in accordance with the conditions of the ASX Listing Rules.

Yours sincerely

EMERGENT RESOURCES LIMITED