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STRIKE RESOURCES LIMITED Capital/Financing Update 2006

May 21, 2006

65855_rns_2006-05-21_c77e051c-2d40-446d-a7b6-41d546a91dc8.pdf

Capital/Financing Update

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MARKET RELEASE

22 May 2006

. . .

NO.871 - P.1/2 - -

Strike Resources Limited

TRADING HALT

The securities of Strike Resources Limited (the "Company") will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Wednesday, 24 May 2006 or when the announcement is released to the market.

Security Code: SRK

SRKO

Brendan O'Hara Manager, Issuers (Perth)

$-$ - H0, 871 $-$ - P, 2/2 $-$

22 May 2006

Australian Stock Exchange Limited Level 8 Exchange Plaza 2 The Esplanade Perth WA 6000

Attention: Mr Tony Walsh By Email: [email protected]

Dear Mr Walsh,

REQUEST FOR TRADING HALT FOR STRIKE RESOURCES LIMITED (SRK)

We hereby request a trading halt from quotation of the Company's listed securities pending the release of a market announcement in relation to the acquisition of an iron-

The following information is provided in relation to this trading halt request pursuant

1. Reasons for the trading halt
Pending the release of a market announcement by SRKin relation to the acquisition of an iron-ore project
2. Length of trading halt Until such time as an announcement referred to in (1) isreleased; this is expected to be prior to thecommencement of trading on Wednesday, 24 May 2006
3. Events expected to happento end the trading halt Upon SRK's release of an announcement referred to in$\left(1\right)$
4. Reasons why trading haltshould not be granted SRK is unaware of any reasons why a trading haltshould not be granted
5. Any other informationnecessary to inform themarket about the tradinghalt SRK does not have any other information necessary toinform the market about the trading halt, pending therelease of an announcement referred to in (1)

Yours Faithfully,

$\frac{1}{4}$ $\overline{1}$

Victor Ho Company Secretary

ASX Coda: SRK

www.strikeresources.com.au

STRIKE RESOURCES LIMITED (Formerly Fast Scout Limited) Level 14, 221 St Georges Terrace, Perth WA 6000 T | (08) 9214 9700 F | (08) 9322 1515

A.B.N. 94 088 488 724