STRIKE RESOURCES LIMITED — Board/Management Information 2005

Oct 26, 2005

Thursday, 27 October 2005

MARKET ANNOUNCEMENT

APPOINTMENT OF NEW CHAIRMAN

The Company is pleased to announce the appointment of Dr John Stephenson as the new Chairman of Fast Scout Limited.

Dr Stephenson is a highly experienced and well regarded geologist with over 35 years experience in the mining sector. Dr Stephenson's formal qualifications are a BSc (Hons) from the University of London (through the former University College in Rhodesia) and a PhD in Geology from the University of Manitoba, Canada.

He has held senior positions in large mining companies, most recently as Director of Exploration for Rio Tinto Australasia where he led Rio Tinto's exploration activities for five and a half years based in Perth.

Dr Stephenson has also during his career led and managed exploration teams for both junior and major mining companies in several parts of the world, mainly in Southern and East Africa, North America and Australia exploring for gold, uranium, diamonds and base metals. He has also been involved with projects in Europe, South America and India. He led teams responsible for the discovery of a world class diamond deposit, the Diavik diamond mine in Canada's Northwest Territories and a high grade gold deposit, the former Golden Patricia gold mine in Ontario.

Of particular attraction to Fast Scout is the fact that Dr Stephenson's career has encompassed roles of increasing responsibility with both major and junior mining and exploration companies in all facets of the exploration business.

Dr Stephenson has particular experience in the uranium sector having in the early to mid 1970's led reconnaissance airborne and ground surveys for uranium in Canada.

Between 1978-1981, Dr Stephenson headed the ground follow-up of a country-wide airborne radiometric and magnetic survey for uranium and other minerals in Tanzania.

In the early 90's Dr Stephenson led exploration for a subsidiary of Rio Tinto exploring for uranium and base metals in eastern Canada.

Dr Stephenson also led Rio Tinto's exploration activities in Australia in the late 90's which included the search for uranium.

The appointment of a Chairman of Dr Stephenson's calibre is an important step in the proposed change in direction of Fast Scout to the resources sector.

www.fastscout.com

FAST SCOUT LIMITED

A.B.N. 94 088 488 724

Dr Stephenson's significant knowledge and experience will be of importance in quiding the Board and the Company in its transition to that of a mining company.

Dr Stephenson has advised that one of his first priorities will be to formulate with the Board a strategic direction for the future mining activities of the Company and to provide the market with a strategic vision for the future.

With the appointment of Dr Stephenson, Mr Farooq Khan retires as Chairman of Fast Scout. The Company thanks Mr Farooq Khan for his past role as Chairman of Fast Scout. Mr Khan was the founding Chairman of the Company and will remain as a Director.

Further information:

Victor Ho Company Secretary $T$ | (08) 9214 9700 E | vho@fastscout.com