FMR RESOURCES LIMITED — Capital/Financing Update 2011

Mar 28, 2011

ASX Announcement

& Media Release

29 March 2011

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Entitlement to Loyalty Options

Orrex Resources Ltd ( Orrex or the Company; ASX: ORX) is pleased to announce the offer of an entitlement to 1 option for every 2 shares held in Orrex at an issue price of $0.005 per option ( Rights Issue ). The Rights Issue is being offered to shareholders as indicated in the Company’s prospectus dated 23 September 2010. It is in recognition of the invaluable support Orrex has received from its shareholders.

The Rights Issue will be open to eligible shareholders, being registered holders of Orrex shares at 5pm (WST) on 7 April 2011 (the Record Date ) and whose registered address is inside Australia and New Zealand. The options will be exercisable at $0.25 each on or before 5pm on 30 November 2012. Orrex will not be applying for quotation of the options but will apply for quotation of the shares issued through exercise of the options.

Under the Rights Issue Orrex will issue up to 20,830,000 options to raise up to approximately $104,000. The funds raised will be used for working capital including on‐going exploration activities at the Golden Mile South and Barlee projects.

A prospectus for the Rights Issue has been lodged with ASIC and filed with the ASX and is available on both the ASX and Orrex websites. Orrex expects the Rights Issue to be conducted according to the following timetable:

following timetable:
Lodgement of Prospectus and Appendix 3B with ASIC	Tuesday,29 March 2011
Notice of Issue sent to eligible shareholders	Thursday,31 March 2011
Ex‐date (Existing Shares commence trading without the	Friday, 1 April 2011
entitlement toparticipate in the Rights Issue)
Record Date to determine Entitlement to New Shares	Thursday,7 April 2011
Prospectus and Application Form despatched	Monday,11 April 2011
OpeningDate for acceptances	Tuesday,12 April 2011
ClosingDate for acceptances	Friday,29 April 2011
Expected allotment,and issue of options	Thursday,5 May2011
Expected despatch date of option certificates	Thursday,5 May2011

An Appendix 3B in relation to the Rights Issue is attached.

Yours Faithfully,

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Sonja Felderhof Managing Director