Mount Clark West - CCA and Drill Contracts Signed

HIGHLIGHTS:

- CCA signed with landowners (Conduct and Compensation Agreement).

- On the Edge – Previous drilling at MCW intersected low-grade copper mineralisation, within altered volcanics, including 0.1% Cu over 104m from 114m, with a higher-grade interval of 0.23% Cu over 14m from 180m (hole MCDD002). The results infer close proximity to a potential mineralised porphyry system.

- Porphyry Targets Defined – To assist in defining the extents of the potential porphyry targets, FEG undertook a detailed 21-line km MIMDAS deep ground penetrating geophysics survey. That data, when combined with historical soil geochemistry, rock chip sampling, and ground magnetic data defined numerous targets, with FEG selecting 3 priority drill targets to test. Each target is manifested as a distinct circular low magnetic zone about 500m across encircled by high chargeability and magnetic anomalies in part associated with copper-molybdenum -in soil geochemical anomalies. FEG believes these features reflect the presence of one or more potentially mineralized porphyry systems.

- Planned Drill Program - The Company has engaged Eagle Drilling NQ Pty Ltd to undertake an initial 1,800m drill program to directly test each of the defined targets.