FENIX RESOURCES LTD — Interim / Quarterly Report 2016

Apr 28, 2016

ASX QUARTERLY REPORT for the Period Ending 31 March 2016

REVIEW OF PROJECTS IN IT AND AGRICULTURAL SECTORS

During the March quarter Emergent Resources Limited ( EMG or the Company ) continued its assessment and evaluation of opportunities in the technology sector and also the agricultural sector, with a particular, but not exclusive, focus on opportunities in Asia given the strong support for this new direction by the Company’s cornerstone Chinese investors. In this regard, during the quarter the Company actively reviewed a number of IT projects and assessed new projects in the agricultural sector. The Company appreciates that this process is taking an extended period of time, however this is a result of EMG’s desire to undertake a high quality investment.

The Company considers that its combination of corporate and technical expertise, significant financial backing and cash reserves makes it ideally placed to grow through investment and acquisition.

CONTINUED SOUND CASH POSITION

The Company’s cash reserves at the end of March 2016 were approximately $1.92 million. The Company is in a very sound cash position to fund exploration on its existing projects and potential future projects.

BEYONDIE IRON ORE PROJECT

During the quarter, having the results of its 2015 technical review of the Project comprising:

• Review of all project data;

• Review of drilling and recommendations (including detailed work proposals) targeting moving tonnes from exploration target into Measured/Indicated/Inferred Resources;

• Preparation of a scope of work for additional metallurgical test work on ‘typical BMS’ which previously returned ‘saleable grades; and

• Review of exploration and completion of regional targeting exercise, generating new targets.

The Company continued its assessment of rationalisation of this Project with a view to best allocate the Company’s resources in the current climate for magnetite projects. It is expected that the results of this process will be finalised and released to the market in the coming quarters.

CORPORATE

On 25 January 2016, the Company advised of the appointment of Mr Matthew Foy as Company Secretary of the Company. Matthew is an experienced Company Secretary and an active member of the WA State Governance Council of Governance Institute Australia (GIA). Matthew was previously a senior adviser at ASX, facilitating the listing and compliance of companies and is currently Company Secretary to several ASX-listed companies.

The Company further advised that Mr Patrick Burke had resigned as Company Secretary. The Company wishes Mr Burke all the best in future endeavours.

During the quarter the Company also advised that its principal and registered office had changed to:

Office J, Level 2 1139 Hay Street, West Perth WA 6005

Telephone: +61 (08) 9486 4036 Facsimile: +61 (08) 9486 4799

TENEMENT SCHEDULE

The Company’s interests in tenements is as follows:

Location	Project	Tenement No.	Interest
Western Australia	Beyondie	E52/2215	80% interest in Iron Ore, Vanadium and
			Manganese (20% De Grey Mining
			Limited)

For further information please contact the Company on:

Bevan Tarratt Non‐Executive Director (T) 9486 4036 (e) btarratt@emergentresources.com.au