FENIX RESOURCES LTD — Capital/Financing Update 2011

Apr 17, 2011

ASX/MEDIA RELEASE

18[th] April, 2011

EMERGENT PROGRESSES EXPLORATION PROGRAMME AT GLENGARRY

KEY POINTS

• Soil Sampling completed at Mt Bartle and Diamond Well

• Analysis underway and results expected late May

• Drill Targets will be delineated from soil sampling and geochemical survey results

• Drilling to commence upon positive results being received

Western Australian based mineral exploration and development company, Emergent Resources Limited ( ASX: EMG ) (“ Emergent ” or the “ Company ”), advises that initial exploration activity at the Company’s Glengarry Project, near Wiluna in Western Australia has been concluded. Soil sampling of the priority targets at Mt Bartle and Diamond Well have been completed and the samples have arrived at the Perth laboratory for analysis. The aim of the MMI soil geochemical survey is to identify areas that are geochemically anomalous in the target commodities, being base metals, uranium and gold.

The laboratory results are expected late May and targets will be further delineated from the soil sampling geochemical survey. While the heavy rains in February and March delayed the exploration programme, Emergent is set to commence a targeted drill campaign upon receipt of positive results.

ENDS

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

Media: David Brook Professional Public Relations +61 8 9388 0944 Em: david.brook@ppr.com.au

Competent Persons Statements

Technical and resource information in this report has been prepared under the supervision of Mr Jonathan King, Chief Geologist for the company and a member of the Australasian Institute on Mining and Metallurgy (AusIMM). Mr King 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 King consents to the inclusion in this report of the Information, in the form and context in which it appears.

About Emergent Resources:

Emergent Resources Limited (ASX: EMG) is a multi‐commodity exploration and development company which listed on the Australian Stock Exchange in August 2008. Emergent has secured over 4500 square kilometres of highly prospective acreage in Western Australia, including the Company’s prospective flagship Beyondie Iron Project, with an undeveloped JORC Inferred Magnetite Resource of 561 million tonnes at 27.5% Fe. The Company has significant potential to increase the resource base as it explores more than 60 kilometres of available strike in the magnetite‐bearing unit.

The Yerrida Basin, which forms a part of the Capricorn Orogen, hosts the Company’s Glengarry Project. Emergent is quickly establishing new Base Metal and Uranium targets in this under‐explored region of Western Australia near Wiluna. Sandfire’s Doolgunna Copper‐Gold Project lies within this important orogenic domain.