FENIX RESOURCES LTD — Capital/Financing Update 2011

Apr 6, 2011

ASX/MEDIA RELEASE

7[th] April, 2011

EMERGENT RESOURCES SECURES GROUND WITH SIGNIFICANT GOLD EXPLORATION POTENTIAL

KEY POINTS

• Emergent Resources has secured ground which covers a possible continuation of the gold bearing Plutonic Well Greenstone Belt.

• The new tenements, which expand Emergent’s Beyondie footprint by 673 km[2] , include two tenements secured by Emergent entering into a joint venture with Raven Resources Pty Ltd.

• The Joint Venture with Raven Resources targets gold zones lying in the interpreted extension of the Plutonic Well Greenstone Belt.

• Detailed geophysical studies are underway to test Emergent’s geological concepts and identify prospective gold zones.

Diversified mineral explorer Emergent Resources Limited ( ASX: EMG ) (“ Emergent ” or the “ Company ”) is pleased to announce that it has secured the right to earn an 80% interest in two substantial blocks of granted tenure held by Raven Resources Pty Ltd. Emergent has also secured a further two 100% owned blocks immediately adjacent to its flagship, Beyondie Iron Project in Western Australia.

The four new leases cover 673 km[2] combining with the other Beyondie leases to form a contiguous block 2368km[2] in area. The eastern leases, including E69/2685, ELA52/2680, and ELA69/2919, lie over possible extensions to the Plutonic Well Greenstone Belt; the western lease, E52/2525, covers a substantial calcrete body known to carry plentiful high-quality water. Leases E69/2685 and E52/2525 are held by Raven Resources Pty Ltd (Raven) and will be managed under joint venture by Emergent. (see attached map) The significance of Raven’s holdings was identified during the recent detailed geological assessment of Emergent’s assets.

Emergent CEO, Nathan Lude, said “Gold at Beyondie adds exciting potential to Emergent’s portfolio of gold exploration assets and by securing the additional tenements it significantly adds to the Company’s coverage of the gold bearing Plutonic Well Greenstone Belt”. “The Company has recently conducted field reconnaissance and we are very excited by the potential of this ground,” said Mr Lude.

Gold at Beyondie

Emergent announced recently that a 21 km extension to the gold-rich Plutonic Well Greenstone Belt, northeast of the Marymia gold deposit, is covered by two of its 100% exploration licences 52/2474 and 52/2559. Numerous shallow 2+ g/t gold intercepts have been identified from the compiled historic exploration drilling of the area. This area has not been systematically explored nor has it been adequately tested by previous explorers. Primary sources have yet to be identified for many of the supergene gold intercepts.

Much of the Archaean-aged greenstone belt’s north-eastern extension, including the Raven farmin ground, lies under sand cover or shallow sediments associated with the Proterozoic Earaheedy Group and the Collier Basin. Outcrop of the underlying target greenstones is limited.

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Figure 1: Geological map identifying Emergent tenure, newly acquired tenure and Greenstone trend

If Emergent’s geological model is confirmed, the Company’s acreage has the potential to host both gold and base metal mineralisation similar to that found in the Plutonic Well Greenstone Belt to the southwest.

Emergent is very excited by these developments and will seek to finalise a comprehensive review of the new tenure, and undertake detailed aeromagnetic surveys to test and validate its geological concepts over the coming months. Detailed geophysical interpretation to qualify zones considered prospective for the targeted style of gold and base metals mineralisation sought, will follow.

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. The Company’s Mt Bartle Project lies adjacent to the world largest pure lead mine, Ivernia Inc’s, Magellan Lead Mine.

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Emergent Tenement
Location Map
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