FMR RESOURCES LIMITED — Capital/Financing Update 2014

Sep 17, 2014

20 Howard Street Perth WA 6000 PO Box Z5207 Tel: +61 (0)43 8885 055 St Georges Terrace Email: info@orrexresources.com WA 6831

ASX: ORX ACN: 107 371 497 www.orrexresources.com

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18 September 2014

Manager – Company Announcements Office Australian Securities Exchange Level 40, Central Park 152-158 St George's Terrace Perth WA 6000 By e-lodgement (ASX code: ORX)

Dear Sir/Madam

COMMENCEMENT OF AIRCORE DRILLING PROGRAM AT GOLDEN MILE SOUTH

Orrex Resources Ltd (“Orrex” or the “Company”) is pleased to advise that it has commenced an aircore drilling program at the Golden Mile South Project (“GMS”) to test the Lakewood Target (Figure 1).

This drilling program represents a focused, up to 3,000m program, designed as a first pass test of this priority target.

In additional to cautiously advancing the GMS Project, the Board is actively reviewing business opportunities in Australia and other favourable investment jurisdictions with the aim of securing a more advanced gold or copper-gold project that could deliver shareholder value in the nearer term.

Lakewood Target

The Lakewood target is located in the northern portion of the GMS Project area proximal to Silver Lake Resources Lakewood Gold Mill (Figure 1). This target was generated and prioritised as part of the whole-of-project technical review that was completed during the first quarter 2014.

As shown on Figure 2, the target represents a compelling conceptual lithostructural setting where the northeast trending Hannans Fault (which controls mineralisation at the historic Hannans South gold mine) intersects the south-southwest trending Gidji Shear system (which north of Kalgoorlie controls the multimillion ounce Paddington deposits). This intersection occurs at the margin of an interpreted buried intrusive body that can be seen in the Company’s high resolution aeromagnetic data, and represents a potential “pressure shadow” setting known within the Goldfields to be potentially prospective.

Historic limited and broadly spaced reconnaissance aircore drilling in this target area on 350m line-spacings with 200m spaced holes resulted in a single line across the centre of the target area (Figure 3). Three of these drill holes intersected anomalous gold including 4m @ 1.23g/t Au from 52m in hole 07LKA178, 8m @ 0.50g/t Au from 52m in hole 07LKA177 and 4m @ 0.18g/t Au from 56m in hole 07LKA176. These intersections all occur at the “cover – bedrock interface” (“CBI”) and thus in part represent alluvial gold being mobilised within the base of the palaeochannel.

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Figure 1 - GMS Project – Lakewood Target Location

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However some gold anomalism persists past the CBI and into bedrock supporting a potential “local source” for the alluvial gold. The combination of the strong lithostructural setting and the strong gold anomalism in the current single line of historical aircore drilling represents a priority target for the Company. The planned drilling program will be completed during September 2014 with assay results likely to be available in mid-October 2014.

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Figure 2 - GMS Project - Lakewood Target - Lithostructural Setting on Aeromagnetics

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Figure 3 - GMS Project - Lakewood Target - Historical Drilling Showing Max Gold in Hole. Note That Shown Gold Intersections Are Located At CBI And As Such In Part Represent Alluvial Gold Being Mobilised Within The Base Of The Channel.

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Jonathan Asquith Company Secretary

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Simon Rigby who is a Member of the Australian Institute of Geoscientists and a Consultant Geologist to Orrex Resources Limited. Mr Rigby has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves’. Mr Rigby consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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