STRIKE RESOURCES LIMITED — Share Issue/Capital Change 2005

Dec 28, 2005

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

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).

$\mathbf{1}$ +Class of $+$ securities issued or to be $\lceil$ issued

Fully paid ordinary shares

$\overline{2}$ Number of +securities issued or to be issued (if known) or maximum number which may be issued

3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if +convertible securities. the conversion price and dates for conversion)

9,710,000 shares; and $(a)$

350,000 shares. (b)

$10,060,000$ shares in total

Same as for other fully paid ordinary shares on issue

+ See chapter 19 for defined terms.

Do the *securities rank equally in all4Yesrespects from the date of allotmentwith an existing "class of quoted*securities?If the additional securities do notrank equally, please state:the date from which they dowhichtheextenttothey۰participate for the next dividend,of(inthecaseatrust,distribution) or interest payment• the extent to which they do notrank equally, other than$\mathbf{m}$relation to the next dividend,distribution or interest payment5Issue price or consideration10 cents each; and(a)(b)Consideration for the acquisition of anininteresttheUOGTenementpursuant to the UOG Agreement (asdefined in the FSL Notice of AGMdated 22 November $2005$ ) – accountedfor at a notional value based on FSL'sclosing bid price of 8 cents per shareon 21 December 2005 (on the eve of theAGM prior to the Company beingsuspended from ASX)Purpose of the issue6.(a)Share placement to sophisticated ad(If issued as consideration for theprofessional investors to raise funds foracquisition of assets, clearly identifygeneral working capital purposes andthose assets)towards the fulfilment of the $2 millioncapital raising condition in the HumeMining Agreement (as defined in theFSLNotice ofAGM.dated22November 2005);Consideration for the acquisition of an(b)iпthe.UOGTenementinterestpursuant to the UOG Agreement (asdefined in the FSL Notice of AGMdated 22 November 2005),(as approved by shareholders at the FSLAGM held on 22 December 2005)

+ See chapter 19 for defined terms.

• $\overline{\mathcal{L}}$ Dates of entering *securities into 23 December 2005 uncertificated holdings or despatch of certificates $\overline{C}$ lass Number ORDINARY 8 Number and +class of all 114,909,095 ASX *securities quoted on (including the securities in clause 2 if applicable) Number +Class $\overline{9}$ Number and tclass of all $N/A$ Nil *securities not quoted on ASX (including the securities in clause 2 if applicable)
• 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	holderapprovalsecurityIsrequired?	N/A
12	Is the issue renounceable or non-renounceable?	N/A
13	Ratio in which the *securities will $N/A$be offered
14	*Class of *securities to which the N/Aoffer relates
15	determine*Recorddateto.entitlements	N/A
16	Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?	N/A
17	Policy for deciding entitlements in $N/A$relation to fractions

+ See chapter 19 for defined terms.

18	Names of countries in which theentity has *security holders whowillnotbesent newissuedocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.	N/A
19	Closingfor receiptofdateacceptances or renunciations	N/A
20	Names of any underwriters	N/A
21	Amount of any underwriting fee orcommission	N/A
22	Names of any brokers to the issue	N/A
23	Fee or commission payable to thebroker to the issue	N/A
24	Amount of any handlingfeepayable to brokers who lodgeacceptances or renunciations onbehalf of *security holders	N/A
25	If the issue is contingenton*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 their $N/A$

+ See chapter 19 for defined terms.

entitlements in full through a broker?

• $31$ How do +security holders sell part $\overline{N/A}$ of their entitlements through a broker and accept for the balance?
• 32 How do *security holders dispose $N/A$ of their entitlements (except by sale through a broker)?

33 +Despatch date $N/A$

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)
$\left( a\right)$	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

+ 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	for whichClass of "securities"quotation 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 towhichthethey۰participate for the next dividend,(in the case of atrust,distribution) or interest paymentthe extent to which they do not٠rank 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$(f$ issuedupon conversionοf	N/A
	another security, clearly identify thatother security)
42.	Number and + class of all + securitiesquoted on ASX (including thesecurities in clause 38)	NumberN/A	$^\mathrm{+}\mathrm{Class}$

+ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{I}$ *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.
  • $\bullet$ The issue of the *securities to be quoted complies with the law and is not 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 give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any $\bullet$ 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.
• $\overline{3}$ 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.
• $\overline{4}$ 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:		Date: 29 December 2005
	(Company Secretary)

Print name: VICTOR HO

$= 1.4$

+ See chapter 19 for defined terms.

Notice under Section 708A(5)(e) Corporations Act

On 23 December 2005, Fast Scout Limited (the "Company") issued 10,060,000 fully paid ordinary shares.

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The Company issued the shares without disclosure to investors under Part 6D.2 of the Corporations Act.

The shares are part of a class of securities quoted on the Australian Stock Exchange Limited.

The Company, as at the date of this notice, has complied with:

• the provisions of Chapter 2M of the Corporations Act as they apply to the Company; $(a)$ and
• $(b)$ Section 674 of the Corporations Act.

As at the date of this notice, there is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.

For and on behalf of the Board.

Victor Ho Company Secretary 29 December 2005

www.fastscout.com

FAST SCOUT LIMITED

Level 14, 221 St Georges Terrace, Perth WA 6000 $T$ | + 61 (8) 9214 9700 $F$ | + 61 (8) 9322 1515