STRIKE RESOURCES LIMITED — Capital/Financing Update 2006

Feb 9, 2006

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 177/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

STRIKE RESOURCES LIMITED (SRK) (formerly Fast Scout Limited (FSL))

ABN

94 088 488 724

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

	+ Class of + securities issued or to beissued	(a)(b)	Fully paid ordinary shares ("Shares");Options, each to acquire one fully paidordinary at an exercise price of 20 centswith each such option expiring 5 yearsfrom the date of its issue (9 February2011) ("20 cent Options");
		(c)	Options, each to acquire one fully paidordinary share at an exercise price of 30cents with each such option expiring 5years from the date of its issue (9)February $2011$ ) ("30 cent Options").
$\overline{2}$	Number of *securities issued or tobe issued (if known) or maximumnumber which may be issued	(a)(b)$\left( c\right)$	1,666,667 x Shares;1,833,333 x 20 cent Options;1,666,667 x 30 cent Options.

+ See chapter 19 for defined terms.

• 3 Principal terms of the "securities" $(a)$ (eg, if options, exercise price and $\exp$ irv date; if partly paid *securities, the amount outstanding and due dates for payment; if *convertible securities, the conversion price and dates for conversion)
  • $1.666,667$ x Shares same as for other fully paid ordinary shares on issue;
  • $(b)$ 1,833,333 x 20 cent Options:
    • $(i)$ exercise price - 20 cents each;
    • expiry date 9 February 2011 $(ii)$
  • 1,666,667 x 30 cent Options: $(c)$
    • exercise price 30 cents each; $(iii)$
    • expiry date 9 February 2011 $(iv)$

(please also refer to Section 15 of the Fast Scout Limited Prospectus dated 23 December 2005 ("Prospectus") for rights attaching to such securities)

$\overline{4}$ Do the "securities rank equally in all respects from the date of allotment with an existing 'class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

• 1,666,667 x Shares Yes; $(a)$

• $(b)$ 1,833,333 $\times$ 20 cent Options - New Class:

• 1,666,667 $\times$ 30 cent Options New $(c)$ Class:

• $1,666,667$ x Shares pursuant to $(a)$ completion of the Hume Agreement (as defined in the Prospectus) for the acquisition of interests in tenements;

• $1,833,333 \times 20$ cent Options and $(b)$ 1,666,667 x 30 cent Options - $$10,000$ cash, pursuant to subscription under the Hume Agreement

+ See chapter 19 for defined terms.

Purpose of the issue 6 (If issued as consideration for the acquisition of assets, clearly identify those assets)

• $1,666,667$ x Shares pursuant to $(a)$ completion of the Hume Agreement;
• 1,833,333 x 20 cent Options and $(b)$ 1,666,667 x 30 cent Options – pursuant to subscription under the Hume Agreement

(please refer to Section 13.1 of the Prospectus for further information about the Hume Agreement.

• $\overline{\mathcal{L}}$ Dates of entering *securities into uncertificated holdings or despatch of certificates
• 8 Number and *class of all *securities quoted on ASX (including the securities in clause 2 if applicable)

Number	$+$ Class
45,686,345 $^{(A)}$	ORDINARY

Reconciliation of issued ordinary share capital: $(\Lambda)$

	To be Quoted	Subject to Escrow	Total
Current Issued Capital	38,186,345	116,667	38,303,012
New Issue $(9$ February $2006$ ) –
Prospectus $($1.5m)$	7,500,000		7,500.000
New Issue -- Hume Agreement
Settlement		1.666,667	1,666,667
Sub-Total	45,686,345	1,783,334	47,469,679

9 February 2006

		Number	+ Class
9	Number and "class of all"*securities not quoted onASX (includingthesecurities in clause 2 ifapplicable)	116,667(issued to Uranium Oil and Gas LimitedDecember 2005 pursuant-23$_{\rm on}$tosettlement of the UOG Agreement asdefined in the Prospectus)	ORDINARY
		1,666,667(issued to Hume Mining NL on 9 February2006 pursuant to settlement of the HumeAgreement)	ORDINARY
		1,833,333(issued to Hume Mining NL on 9 February2006 pursuant to subscription under theHume Agreement)	20 CENTOPTIONS
		1,666,667(issued to Hume Mining NL on 9 February2006 pursuant to subscription under theHume Agreement)	30 CENTOPTIONS

+ See chapter 19 for defined terms.

Dividend policy (in the case of a 10 trust, distribution policy) on the increased capital (interests)

No change in policy applicable to all fully paid ordinary shares

Part 2 - Bonus issue or pro rata issue

• $11$ security holder approval $N/A$ $Is$ required? 12 Is the issue renounceable or non- $N/A$ renounceable? Ratio in which the "securities will 13 $N/A$ be offered *Class of *securities to which the 14 $N/A$ offer relates 15 *Record $N/A$ date determine to entitlements 16 Will holdings on different registers $N/A$ (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in $N/A$ relation to fractions Names of countries in which the 18 $N/A$ entity has *security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 of $N/A$ Closing date for receipt acceptances or renunciations Names of any underwriters 20 $N/A$ Amount of any underwriting fee or 21 $N/A$ commission 22 Names of any brokers to the issue
• 23 Fee or commission payable to the broker to the issue

N/A
N/A

+ See chapter 19 for defined terms.

24	any handlingfeeofAmountbrokers who lodgepayable toacceptances or renunciationsonbehalf of *security holders	N/A
25	If the issue iscontingenton*security holders'approval,thedate of the meeting	N/A
26	Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled	N/A
27	If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders	N/A
28	Date rights trading will begin (ifapplicable)	N/A
29.	Date rights trading will end (ifapplicable)	N/A
30	How do *security holders sell theirentitlementsin full throughabroker?	N/A
31	How do *security holders sell partof their entitlements through abroker and accept for the balance?	N/A
32	How do *security holders disposeof their entitlements (except by salethrough a broker)?	N/A
33	*Despatch date	N/A

+ See chapter 19 for defined terms.

Part 3 - Ouotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• $(a)$ Securities described in Part 1
• $(b)$ All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35
• If the *securities are *equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• If the "securities are "equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5.001 - 10,000$ $10,001 - 100,000$ 100,001 and over
• 37

A copy of any trust deed for the additional *securities

Note:

The 20 cent Options and 30 cent Options are issued to one holder - Hume Mining NL.

+ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

38	Number of securities for which*quotation is sought	N/A
39	Class of *securitiesfor whichquotation is sought	N/A
40	Do the *securities rank equally in allrespects from the date of allotmentwith an existing "class of quoted*securities?	N/A
	If the additional securities do notrank equally, please state:the date from which they do٠extent to which theytheparticipate for the next dividend,theоfі(incaseàtrust.distribution) or interest paymentthe extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment
41	Reason for request for quotationnowExample: In the case of restricted securities, end ofrestriction period(if issued upon conversion ofanother security, clearly identify thatother security)	N/A
42.	Number and + class of all + securitiesquoted on ASX (including thesecurities in clause 38)	NumberN/A	*Class

+ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{1}$ *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
  • The issue of the *securities to be quoted complies with the law and is not ٠ for an illegal purpose.
  • There is no reason why those *securities should not be granted *quotation.
  • An offer of the +securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to cive this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any "securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the "securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

...................................... Sign here: (Company Secretary)

Print name: VICTOR HO

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+ See chapter 19 for defined terms.