FENIX RESOURCES LTD — Director's Dealing 2009

Feb 22, 2009

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Emergent Resources Ltd ABN 68 125 323 622

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	George James McMaster
Date of last notice	13/11/2008

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.
Date of change	18/02/2009	31/01/2009
No. of securities held prior to change	Ord Shares 757,500Sept 2010 Options 378,500	Ord Shares 2,500,000Aug 2012 Option 500,000Sept 2010 Options 1,250,000
Class
Number acquired	Sept 2010 Options -	Sept 2010 Options 1,233,620
Number disposed	Ord Shares 120,000Sept 2010 Options 250
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	Ord SharesNil considerationGifted to family membersOptions$2	Sept 2010 Options $12,336
No. of securities held after change	Ord Shares 637,500Sept 2010 Options 378,750	Ord Shares 2,500,000Sept 2010 Options 2,483,620Aug 2012 Options 500,000
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back		Options – Option Issue

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002