FENIX RESOURCES LTD — Regulatory Filings 2008

Nov 25, 2008

Listed on ASX 4thAugust 2008

• EMG CAPITAL STRUCTUREFully Paid SharesFoundation Shareholders 8,500,001 20.2%Vendor Exploration Properties 7,500,000 17.8%Seed Capital Shareholders 6,150,000 14.6%Issue to the Public @ 20c 20,000,000 47.4%42,150,000100%

• • Option Issue - 21,075,000 1 for 2, 1 cent issue October 2008
• •Directors and Promoters 3,700,000 unlisted options
• •Market Capitalisation \$3m
• •Last trade 8 cents
• •

Top 20 58% of issued capital

•EMG Highlights

• • Iron project developer And diverse explorer for Uranium & Base Metals"
• •Successfully listed on the ASX in August, 2008 without any Underwriting
• • Good geological assets with high potential
• ( Prof. Tim O'Driscoll's lineament fracture/shear concept)
• • Expertise to succeed,
• –i.e. M.D. Garry Hemming's successful ore body location history
• • Experienced prospecting team includes Prospector of the Year;-
• –Denis O'Meara and tenements
• •Strategic capital structure and balanced liquidity
• •Sufficient cash reserves to achieve business plan objectives
• •1:2 option issued to shareholders 3 months after listing

• •Highlights (cont)
• • ¹st drilling completed already at the "never drilled before" North Pool in the Glengarry basin for base metals zinc/lead/copper
• • Imminent drilling of Beyondie iron deposit , [30+kms strike length]
• –the Gold Fields Gas Pipeline for local access to energy for product beneficiation
• – Great Northern Highway traverse EMG's ground, for ease of transport of up-graded magnetite under potential mine-gate sales arrangements.
• • Review of the first 3 months progress follows, including a junior's recipe for survival in these uncertain times.

EMG Philosophy

EMG Philosophy in todays market.

Emergent believes that the recent downturn in the commodity markets and demand for iron will return in strength in the medium term.

Projects like the EMG Beyondie Iron Project will succeed due to demand for high grade magnetite concentrate remaining strong for blending with low grade mined ore in China.

Development of the Beyondie Magnetite Project should proceed in spite of market volatility.

Resource commodities such as base metals, precious metals and uranium will dip and will eventually recover, however the exploration risk of EMG projects for these commodities demands caution in spending.

Work to determine drill targets based on the extensive modern data surveys by EMG is a priority.

It is surprising how little is known about the geology and ore forming processes of the worlds mines.

We are excellent at finding what makes up a discovery but ask geologists how it got there and they start arguing.

In view of these facts, grassroots explorationists on moderate budgets employ a "conceptual exploration" ideology

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which essentially means that instead of looking for rocks with metal in them, they predict where metals would accumulate beneath the surface (i.e. concealed deposits)

The technological advances of airborne surveys and computer 3D subsurface imaging means it is possible to find out a lot about the buried geology before drilling.

We believe investor understanding of mining and exploration technology advances plays an important role in gauging future success for the company.

Priority exploration targets

1. Iron (magnetite) Project at Beyondie

• Large Granted exploration licence + 1 application
• Wide multiple magnetite bearing banded-iron-formation +100 m wide
• 30 kilometres strike length
• Near iron mining centre of Newman in WA

2. Base Metal Projects -2500 sq km

• –2. Mt Bartle Base Metal/gold (Glengarry), drill targets defined
• 1. North Pool Base Metal/gold (Glengarry), undrilled base metal gossans
• 1. Gold/copper/uranium Mt Narryer, (Radiometric anomalies and gold prospectivity)
• 1. Diamond Well lead/zinc (1% Pb and 1% Zn at surface)

3. Other Projects

• Rainbow Bore, Clarrie Well, Fenceline
• Uranium potential of Kintyre style mineralisation,
• Rudall River uranium-copper-gold targets
• Marble Bar Archaean gold copper shear targets

Directors- EMERGENT RESOURCES LIMITED

George McMaster, Chairman

40+ years experience in Australian and international corporate goverence, commercial feasibility, finance, mining and hospitality related industries, including several listed public company directorships;Condor Minerals and Energy Ltd, Terrex Resources NL, Takoradi Gold NL, Great Eastern Mines Ltd.

Garry Hemming, Managing Director

Executive Director of listed ASX and AIM companies for over 20 yearsExploration Geologist and Managerfor over 30 years.

Discovered new deposits; Copper in South Australia, Gold in Western Australia (Yilgarn Star, Orion/Sapphire at Kookynie, Geko at Bullabulling), Gold in Queensland at Rishton-Hadleigh Castle, Diamond, heavy minerals, and tantalite in Namibia, Platinum and sulphide nickel at Acoje in the Philippines.

Kevin Judge,Non Executive Director

Former President of the West Australian division of CPA Australia, former Chairman of the DisciplinaryCommittee of the West Australian division of CPA Australia, former Member of Regional Liaison Sub Committee (Insolvency) conducted by Australian Securities & Investments Commission (ASIC), former Chairman of the West Australian division of Chartered Secretaries Australia and former Member of the Australian Board of Chartered Secretaries Australia. Former Chairman and Director of companies listed on the Australian Stock Exchange.

Denis O'MearaProject Vendor

JP, AsMAusIMM, Mining Registrar Marble Bar, and Mines and Crown Law Department.Board Member, AGIC (Australian Gold Industry Council) for over 10 yearsPort Hedland Port Authority 1973-1985 (Aust Largest Tonnage Port Iron Ore)Kings Park Botanical Gardens 1994- 1996, AMEC Prospector of the Year 2004, Australia Day award. Eight other ASX listings have been supported by D O'Meara.

•The Iron Ore Industry

-The Iron Ore Industry

-World annual iron production- one billion tons of ore The primary ore is banded iron formation (BIF) Hematite is the main ore type - -Brazil and Pilbara (WA), hematite also known as "natural ore" that is "direct shipping". Contains magnetite (Fe3O4), hematite (Fe2O3), goethite, limonite or siderite. Impurities increase with low grade.Magnetite is "exothermic"

that is it does not require coking coal to smelt-Magnetite mines are located in BIF in;

North America; Michigan/Minnesota, Labrador, Ontario iron provinces, Western Australia; Pilbara, Murchison/Mid-West iron provinces, Brazil; Quadrilatero Ferifero iron province.

Impurities:

• Phosphorus, sulphur silica alumina, sodium, and potassium reduce the value of product shipped to the customer;

-Impurities disrupt production.

With magnetic separation, magnetite concentrate has lowest level of impurities.

Main Iron Bearing Minerals:

1. Magnetite

• Very high grade (up to 72.4% Fe, typical grade shipped is +70% Fe) 72.4% Fe to Fe2O3 x 1.43 = 100% Fe
• Processing magnetite concentrate grinding and magnetic separation, –
• simple and highly effective method for removal of all unwanted impurities.
• The fact that magnetite does not require coking coal will mean an increasing proportion of steel will be made by direct reduction (DR) due to shortages of coking coal.

2. Hematite (Direct shipping ore)

• lump or fines product 57 to 63% Fe,
• Hematite (lump and fines) main type exported by Brazil and Australia.
• Hematite lump and fines simple and cheap as ore excavated only requires crushing and classification by sieving.
• Hematite lump can be fed into a blast furnace without any further processing at the steel mill. However requires 0.6 tonnes of coking coal for each tonne of steel.

3. Limonite

• Typically found in Channel Iron Deposits
• grade of limonite pisolite product shipped 55- 59% Fe.

Focussing on Developing Iron Production, Exploring for Copper, Lead, Zinc, Gold (and Uranium)

Quality of product shipped to customer - key factor for long term success:

A mine producing a quality magnetite concentrate with low levels of impurities will sell production at a relatively good price due to considerable cost savings in the iron and steel production process and less risk of problems from impurities.

Current iron ore scene and future trends:

• Hematite mines in Australia are being depleted (increasing phosphorus, silica, alumina with lower iron content).
• Magnetite concentrate is highly sought after to blend with Chinese mine product of 30 – 40% Fe.
• Magnetite is exothermic and does not require high cost coking coal
• North American mines have always had magnetite concentrate as the main feedstock for the very large and successful North American steel industry. The competitive advantage of magnetite concentrate, which is suitable for Direct Reduction (DR) process, must increase with time because;
• Each tonne of steel from the blast furnace needs 1.6 tons of iron ore (blended hematite lump and sintered fines) and 0.6 tons of coking coal.
• Coking coal is becoming increasingly expensive due to shortages caused by congestion in ports and depletion of open cut reserves; production of steel by direct reduction method (for which no coking coal is needed) must increase.

EMG's Beyondie Iron Joint Venture E52/1806, ELA52/2215

Emergent to Earn rights to iron ore, manganese and vanadium

Expend \$250,000 in first year (after listing - prior to withdrawal)

60% equity earn by expending \$750,000 over 2 years 80% equity earn by expending total \$1,750,000 over 3 years

De Grey equity 20% is free carried to decision to mine or Either reduce to 2% of value of minerals produced or contribute 20% of development costs and retain 20% equity

Western Australia Pilbara and Mid-

Flat featureless plain with magnite bearing BIF's outcrop

Minor BIF's can outcrop well

Small hill with exposure of massive magnetite BIF

Typical massive magnetite BIF

Development Program

• • 1. Drilling to establish resource-
• including scoping study, grade determinations, metallurgy, and transport options
• •2. Develop production to 3mt per annum
• •By beneficiation and trucking to nearby rail systems
• 1. Develop to 30mt per annum

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By beneficiation and rail to port

Transport routes north to Pilbara or south to Mid-west

EMERGENT RESOURCES LIMITEDExploring for Iron Ore, Copper, Lead, Zinc, Gold (and Uranium)

2. Base Metal Projects

EMERGENT RESOURCES LIMITEDFocussing on Developing Iron Production, Exploring for Copper, Lead, Zinc, Gold (and Uranium)

Zinc Prices and stocks past 5 years To 18 Nov 08

Lead Prices and stocks past 5 yearsTo 18 Nov 08

Base Metal Projects

Mineralising and Structural Setting (O'Driscoll tectonic framework)

• O'Driscoll's fracture framework for Australia was developed before the discovery of a host of world class ore bodies
• eg; Olympic Dam, Ernest Henry, Abra and Century

The framework can be utilised in exploration in the 21st century by focussing on particular structural settings and prioritising of targets within large prospective areas.

Concealed deposits - the framework of intra-cratonic structural dislocation is important for predicting the location of world class ore bodies.

EMG to concentrate on targets already known in conjunctionwith those to be detailed from modern data packages and exploration techniques such as high resolution airborne magnetics, electromagnetics, gravity and spectrographic surveying.

Relationship of the O'Driscoll lineament to the subsequently discovered Olympic Dam orebody.

Focussing on Developing Iron Production, Exploring for Copper, Lead, Zinc, Gold (and Uranium)

2. Base Metal Projects -2500 sq km

1. Mt Bartle Base Metal/gold (Glengarry), drill targets defined 3. North Pool Base Metal/gold (Glengarry), undrilled base metal gossans 4. Gold/copper/uranium Mt Narryer, (Radiometric anomalies and gold prospectivity) 5. Diamond Well lead/zinc (1% Pb and 1% Zn at surface)largely never been explored!

3. Other Projects

Rainbow Bore, Clarrie Well, FencelineUranium potential of Kintyre style mineralisation,Rudall River uranium-copper-gold targets Marble Bar Archaean gold copper shear targets

Glengarry Basin Regional Mineralisation

Proterozoic environments have strong association of copper, gold and uranium in this and other basinal areas,

for example;

• 10km to the southeast of the Mt Bartle is Ivernia West's Magellan Lead Mine,
• hosted by the same age rocks EL, and
• exploration shows potential for further copper-lead-zinc (Cu Pb Zn) base metal deposits.

Also

• Paterson Province (adjacent to the Glengarry region) containing • the huge Telfer Gold Mine,
• Nifty Copper Mine (28,250,000 tonnes 3.16% Cu, 2005),
• Maroochydore copper/cobalt (51 million tonnes averaging 1% Cu and 0.04% Co) and, Kintyre Uranium Deposit (containing 36,000 tonnes of U3O8 with average grades of 0.15% to 0.4% U3O8);
• Jillawarra basin of the adjacent Bangemall Basin
• Abra base metal deposit (historical resource estimated as 130,000,000 tonnes 0.25% Cu, 1.15% Pb and 2.5 % Barium;
• Bryah and Padbury basins, (adjacent to Glengarry region), contain Horseshoe Copper-Gold-Silver Mine, Peak Hill Gold Mine,
• Stuart Shelf region of South Australia
• (containing the world class Olympic Dam (Cu-U-Au), Prominent Hill (Au) and
• •Carapateena (Au-Cu) deposits).

showing magnetics highlighting strong mineralising structures

Base Metals -Priority Target #1North pool Base Metal Project

E51/977, ELA53/1301 (80% EMG)

Results to date show high base metal values 2000 to 2950ppm Cu and Zn.

Interpreted grabenparalleling the structures related to a gravity amomaly within the Archaean basement

^Amajor O'Driscoll lineament traverses the tenement Located adjacent to the significant Magellan base metal deposit.

Known widespread surface mineralisation in felsic volcanics2950 Zn, 760 Pb, 2000 Cu never been drilled.

North Pool intersection of mineralsing structures

North Pool Base Metal Project

Showing magnetics, grid for geochem survey and line for aircore drill holes.

Recent drilling by EMG returned highly anomalous results

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5km

Mineralised

volcanics

corridor

North Pool Base Metal Project

Showing HyVista processed data, grid for geochem survey and line for aircore drill holes.

0

5km

Mineralised

volcanics

corridor

• North Poll Base Metal Project • Drilling results for the October 2008 program

• – Anomalous copper, lead and zinc with accompanying silver and gold is a strong indicator for being in the right geological environment for large scale graben style massive sulphide deposits. –
• The results are being assessed along with recently acquired airborne magnetics, radiometrics, and hyper-spectral data as well as extensive MMI geochemical surveying in progress to determine priority deeper drilling targets.determine

Priority Target #2Mt Bartle Base Metal ProjectE53/893, ELA53/1302 & 1332 (100% EMG)

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Results to date show high copper, lead, and zinc values.

Interpreted grabenparalleling the structures related to a gravity amomaly within the Archaean basement

^Amajor O'Driscoll lineament traverses the tenement Located adjacent to the significant Magellan base metal deposit.

Sampling of the Rabbit Warren Gossan Prospect displays a strong Zn anomaly over 600 metres of one of three sampling traverses with coincident lead, nickel and cadmium.

Mt Bartle important magnetic features

Mt Bartle detailed geology and rock chip sample positions (GDA 94)

Other Projects;Diamond Well Base Metal ProjectELA51/1191, 1204, 1205 (EMG 100%)

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• Results to date show high base metal zinc values within fault zones of an interpreted graben.
• Prospecting has returned up to 890 ppm Cu and 10,300 ppm Zn (1.03% Zn).
• At Diamond Well a mineralised zone 500 metres long
• 2 metres wide returned up to 1% Pb and 19 g/t Ag.

Southern Cross Well Copper and Uranium Project

radiometric anomalies defined in 1956-61 numbered;

BMR 18 to 22

Marble Bar Gold, Copper Project ELA45/2684, 2223, PLA45/2575-6 (EMG 100%)

significant number of high grade gold producers

Copper anomalies require follow up.

Marble Bar Gold Project

gold

Landsat imagery Important copper targets in volcanics

Uranium Potential of the Glengarry / Mt Bartle Region

Target -Uranium deposits of the unconformity and sandstone type.

ground adjoining E53/1208 has been included in Oklo Uranium Ltd ASX company.

Unconformity-related deposits - 33% of the World uranium resources;

• Canada's Athabasca Basin, Saskatchewan and Thelon Basin, Northwest Territories);
• Australia's Alligator Rivers region in the Pine Creek Geosyncline, NT and
• Kintyre region of the Rudall River area, WA.

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Unconformity deposits - 20% of Australia's total uranium resources, Nabarlek (mined out) and Ranger 1 & 3, Alligator River Region are Jabiluka, Koongarra and Ranger 68.

EMG will be exploring for uranium in all its grounddue to the strong possibility of locating conglomerates and sandstones around structural traps and basement highs where the uranium may be introduced by various acid intrusive and volcanics rocks during sedimentation and deformation.

Rudall River Uranium Copper ProjectELA53/3052, 3053, 3092. 3096, 3097 (EMG 100%)

Three ELA's covering significant radiometric anomalies which warrants a modern exploration approach to determine if concealeduranium, copper, gold deposits are present.

In Australia there has been very little exploration to locate concealed deposits lying above unconformity similar to the very high grade deposits in Canada. All of Canada's uranium production is from unconformity-related deposits - Key Lake, Cluff Lake, Rabbit Lake (all now depleted), and McClean Lake and McArthur River deposits.

Paterson Uranium Copper Project

Note the blue colour areas related to uranium channel on radiometric surveying

Paterson Uranium Project showing the important uranium anomalous area (in red) within Emergent's application

Focussing on Developing Iron Production, Exploring for Copper, Lead, Zinc, Gold (and Uranium)ASX-EMG

•Proposed Project Exploration Budget

		Y 1 e a r	2 Y e a r	l T t o a
•	d i O B I e o n e o n e y r r	\$ 2 0 0 0 0 5 ,	\$ 0 0 0 0 0 5 ,	\$ 0 0 0 0 7 5 ,
•	l M B t t a e r	\$ 0 0 0 0 1 5 ,	\$ 8 0 0 0 1 5 ,	\$ 3 3 0 0 0 5 ,
•	h l N P t o r o o	\$ 1 6 0 0 0 0 ,	\$ 1 9 0 0 0 5 ,	\$ 3 0 0 0 5 5 ,
•	i d l l D W a m o n e	\$ 0 0 0 1 1 5 ,	\$ 0 0 0 1 5 5 ,	\$ 2 0 0 0 0 7 ,
•	M N t a e r r y r	\$ 1 5 0 0 0 0 ,	\$ 1 2 0 0 0 0 ,	\$ 2 7 0 0 0 0 ,
•	l T t o a	\$ 8 2 0 0 0 5 ,	\$ 0 0 0 1 1 5 5 , ,	\$ 9 8 0 0 0 0 1 , ,