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Forte Energy NL (FTE)

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Friday 06 July, 2012

Forte Energy NL

68% Increase in Firawa Uranium Resource, Guinea

                                                                                            Forte Energy NL

                                                                                            ACN 009 087 852

6th July 2012

                                                                                 ASX, AIM and Media Release


International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") announces that
following  completion  of the 63 hole Reverse Circulation (RC) drilling campaign at the  Firawa  Project  in
Guinea  and receipt of all of the chemical assay results and additional bulk density information, CSA Global
(UK) Ltd has finished the JORC Compliant Mineral Resource update.

In  comparison  to  the  maiden resource compiled in July 2009, the total uranium  resource  at  Firawa  has
increased by 68% to 19.5Mlbs U3O8 at a 100ppm U3O8 cut-off grade.


    *   68% increase of the Firawa Project Inferred Resource to 19.5Mlbs of contained U3O8 from 11.6Mlbs
        at an average grade of 295ppm U308 (100ppm U3O8 cut-off)

    *   71% increase in the Firawa Project resource tonnage from 17.7Mt to 30.3Mt

    *   Mineralisation occurs along an undulating east-west orientated ridge, of up to 60m in height from
        the surrounding plain and extends over 3km. The majority of the mineralised zones dip moderately to steeply
        towards the north and remain open at depth

    *   Forte Energy's total resource inventory increased 21% to 44.9Mlbs U3O8 from 37Mlbs U308

    *   Forte Energy's JORC compliant Resource Statement for Firawa as at  July 2012 (100ppm U3O8 cut-off)

              Area                    Resource        Tonnage           Grade           Contained U3O8
                                      Category         (Mt)           (ppm U3O8)            (Mlbs)
              Firawa Project          Inferred         30.3              295                 19.5
              Firawa Total            Inferred         30.3              295                 19.5

The  Firawa  Project  consists  of  two  100%  owned licences  totalling  over  509km2  which  are  located
approximately 25km to the east of Kissidougou.

To view Figure 1: Guinea Licences, please open the following link in a new window:

Mineralisation  occurs  along an undulating east-west orientated ridge, of up to 60m  in  height  from  the
surrounding plain and is concentrated in Fe-rich parts of the laterite/saprolite, which covers a hard  rock
of  granite, gneiss, mafic intrusive and carbonatite. The majority of the mineralised zones dip  moderately
to steeply towards the north.

Previous Drilling and the 2009 Resource Estimate

The maiden resource estimate for the Firawa Project of 17.7Mt grading 296ppm U3O8 for 11.6Mlbs of contained
U3O8  was  estimated by Coffey Mining Pty Ltd in July 2009 and was based on the results from  29  RC  holes
totalling 1,809m undertaken in May 2007 and 56 diamond drill holes, totalling 5,859m, completed in  January

The July 2009 Resource statement was based on chemical uranium assays prepared by ALS Chemex - Mali. The RC
chip  samples were analysed at ALS Chemex - Vancouver and the diamond drill core was analysed at ALS Chemex
- Johannesburg.

The  method  used to obtain the U3O8 grade estimates was Ordinary Kriging using top cut 3m composite  data.
Parent cell dimensions of 50m EW by 10m NS by 25m RL were used with sub-celling to 5m EW by 5m NS by 5m  RL
to enable adequate volume resolution.

At  the  time  of  the report the density database only comprised of 5 grab samples with an  additional  96
samples awaiting bulk density determination by both Pycnometer and Archimedean methods. A more conservative
bulk density value of 2.2t/m3 was applied to the rock-types hosting the mineralised zones.

The recommendations in the resource report by Coffey included that the drilling should be stepped out 50 to
100m  to  the  north to test the down dip continuation of mineralisation into fresh rock, drilling  in  the
central  area should be completed where access was not possible and drilling should be carried out  to  the
east and west along strike to understand the limits of the mineralisation.

The 2012 Drilling Programme

A  second  RC drilling programme at the Firawa Project was completed in February 2012 by AMCO Drilling  Ltd
and consisted of 63 holes drilled, totalling 4,712m, including:

     *   14 RC holes in the central section, which had not been accessible previously, to test potential
         down dip extensions to the north.

     *   24 RC holes drilled 1.5km to the east along the east - west ridge.

     *   25 RC holes drilled 1km to the west of the initial resource outline.

In the central area 14 holes were drilled in areas that were not previously accessible to test the down dip
continuation  of the mineralisation. 10 of these holes intersected mineralisation confirming the  extension
of the mineralisation down-dip to the north at depth.

A  total of 24 RC holes were drilled to the east based on radiometric anomalies identified from information
from  a  combination  of ground radiometric surveys and an airborne survey conducted in  the  late  1970's.
Encouraging results were obtained from hole FRW 213 approximately 500m to the east of the original inferred
resource,  which  intersected mineralisation from 5m below surface to 13m, for 8m at an  average  grade  of
347ppm  U3O8. A series of shallow holes were drilled over a distance of 1.4km testing the other radiometric
anomalies, with poor results.

To view Figure 2: Firawa Drilling - 2012, please open the following link in a new window:

A  further  25 RC holes were drilled to the west of the initial inferred resource, with 6 holes identifying
intermittent  mineralisation between surface and 50m over a strike length of 0.5km. The best of  these  was
FRW  232,  intersecting 19m of mineralisation from 31m below surface down to 50m at  an  average  grade  of
433ppm  U3O8. Further holes were drilled to the west at 200m centres on radiometric anomalies but  did  not
intersect any mineralisation.

Figure  3  shows  a  cross  section  looking east with the RC holes  FRW  202  AND  216  both  intersecting
mineralisation  dipping  to  the  north  down  to  approximately  80m  below  surface.  FRW202  intersected
intermittent mineralisation from 10m below the surface down to 92m down hole, including 9m from  26m  at  a
grade of 539ppm U3O8. FRW216 collared further to the north intersected intermittent mineralisation from 31m
down  to 83m, including a particularly encouraging intersection of 21m from 62m in the hole grading  528ppm
U3O8, confirming mineralisation dipping and open down-dip to the north.

To Figure 3: Firawa Central Section 411600E, looking east, please open the following link in a new window:

Following  the  completion of the RC drilling programme at the Firawa Project, the sample  preparation  was
completed  in  Kissadougou  by  ALS  Stewart Group - Monrovia. The  samples  were  dried,  split  and  then
transported  to  the  laboratory  facilities in Monrovia, Liberia  where  multi  element  ICP  assays  were
conducted.  From the 63 holes, representative samples were selected from a total of 38 holes  of  which  17
were mineralised.

A  summary of the assay results from the recent drilling campaign is included in Appendix 1 and is based on
a  cut-off grade of 200ppm U3O8 and 2m maximum dilution interval.  Notable intersections from the recent RC
drilling include:

*       FRW 200: 14m @ 447ppm U3O8 and 47m @ 348ppm U3O8
*       FRW 201: 24m @ 311ppm U3O8
*       FRW 202:   9m @ 539ppm U3O8 and   4m @ 445ppm U3O8
*       FRW 203: 12m @ 351ppm U3O8
*       FRW 216:   6m @ 324ppm U3O8 and 21m @ 528ppm U3O8
*       FRW 217: 21m @ 326ppm U3O8
*       FRW 232: 21m @ 414ppm U3O8

Updated Resource Estimate

CSA  Global  (UK) Ltd then compiled a Mineral Resource update incorporating the results from the historical
drilling  completed  in  2007  and  2009 as well as results from the  recent  drilling  campaign.  Thirteen
mineralised  envelopes were created above 100ppm U3O8 and were used to constrain a block model whose  block
dimensions  were  50m  EW x 10m NS x 25m RL, sub-celled down to 5m EW x 2m NS x 5m RL  to  ensure  adequate
volume resolution. The directions and ranges of grade continuity were estimated via geostatistical analysis
and  subsequent  grade  interpolation  was completed using Ordinary Kriging,  using  3m  top-cut  composite

Using  the  results  for  the  bulk density determination from the Pycnometer and  Archimedean  methods,  a
weighted  average of 97 measurements was used to assign an average bulk density of 3.0t/m3 to  the  Mineral
Resource update to estimate inferred resource tonnage.

The  updated resource model incorporating the historical drilling, the recent RC drilling programme and the
revised  bulk  density of 3.0t/m3 has resulted in an Inferred resource of 30.3Mt at  an  average  grade  of
295ppm U3O8 containing 19.5Mlbs U3O8 at a cut-off grade of 100ppm U3O8.

To view Figure 4: Firawa Resource - 2012, please open the following link in a new window:

                        Table 1: Firawa JORC Compliant Resource Statement (July 2012)

Area                       Resource       Tonnage           Grade          Contained U3O8
                           Category         (Mt)          (ppm U3O8)           (Mlbs)
Firawa Project             Inferred         30.3             295                19.5
Firawa Project Total       Inferred         30.3             295                19.5

   Note: Figures have been rounded and are stated at a 100ppm U3O8 cut off.

The inferred resource outline now extends over a strike length of 3km and lies between the surface and down
to  depths  of 100m in the Fe-rich laterite/saprolite, but remains open at depth. It is believed  that  the
underlying  hard  rock  is a granite, gneiss mafic intrusive and carbonatite, which could  be  the  primary
source  of  mineralisation. Several longer diamond drill holes are planned later  this  year  to  test  the
basement rocks.

Commenting on the updated resource at Firawa, Mark Reilly, Managing Director of Forte Energy said:

"The latest upgrade at Firawa takes Forte Energy's total JORC compliant resources to almost 45Mlbs U3O8, an
increase of around 60% in the year to date.  With the success of the last drilling season, we look  forward
to building on this base and taking our projects onto the next stage of their development."

Mark Reilly
Managing Director

For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                          Tel: +44 (0) 203 3849555

Rob Collins/Tarica Mpinga
Canaccord Genuity Limited                Tel: +44 (0) 207 050 6500

Geoff Nash/Ben Thompson                  Tel: +44 (0)207 220 0550
Elizabeth Johnson (broking)

Bobby Morse/Louise Hadcocks/Cornelia Browne
Buchanan                                Tel: +44 (0) 207 466 5000

Stuart Laing
RFC Ambrian Ltd                          Tel: +61 (0) 8 9480 2506
(AIM Nominated Adviser to the Company)

Forte Energy NL

Australia                                        United Kingdom

Suite 3, Level 3                                 3C Princes House
1292 Hay Street                                  38 Jermyn Street
West Perth WA 6005                               London SW1Y6DN
Ph: +61 (0)8 9322 4071                           Ph: +44 (0)203 3847474
Fax: +61 (0)8 9322 4073                          Fax: +44 (0)207 2878387
Email: [email protected]                   Email: [email protected]

Appendix 1

                                 Table 2: Summary of Firawa Assay Results
 Hole Id       East         North      Inclination     From        To        Interval      Average Grade
              WGS84         WGS84       (Degrees)      (m)         (m)          (m)          U308 (ppm)
 FRW200       411450       1017880         50           14         28           14              447
                                                        30         31            1              248
                                                        36         83           47              348
                                                        88         89            1              262
                                                        88         89            1              262
 FRW201       411550       1017910         50           10         34           24              311
                                                        76         78            2              265
                                                        80         81            1              254
 FRW202       411600       1017950         50           10         14            4              234
                                                        26         35            9              539
                                                        48         50            2              332
                                                        60         62            2              413
                                                        71         75            4              445
                                                        83         84            1              265
                                                        89         92            3              419
 FRW203       411700       1017975         50           26         38           12              351
                                                        58         63            5              300
 FRW204       411800       1018025         50           48         54            6              292
                                                        56         57            1              322
 FRW205       411900       1018025                      7           8            1              205
                                                       121         127           6              480
 FRW207       412310       1018000         50           35         36            1              461
                                                        59         60            1              206
 FRW209       412200       1018060         50           26         27            1              213
                                                        51         52            1              250
                                                        54         55            1              203
                                                        58         59            1              236
 FRW213       413700       1018150         50           5          13            8              347
 FRW216       411600       1017955         80           31         37            6              324
                                                        41         46            5              403
                                                        47         49            2              322
                                                        51         52            1              221
                                                        62         83           21              528
 FRW217       411550       1017930         50           25         46           21              326
 FRW232       410700       1017975         50           11         14            3              240
                                                        29         50           21              415
 FRW233       410700       1017950         50           0           2            2              277
                                                        20         21            1              283
 FRW234       410600       1017975         50           13         16            3              345
                                                        28         39           11              254
 FRW236       410600       1017975         50           34         39            5              279
                                                        42         43            1              274
 FRW237       410400       1018003         50           15         16            1              243
                                                        25         26            1              313
 FRW238       410800       1017975         50           25         31            6              278
Average U308 grades based on a cut-off grade of 200ppm U308 and a maximum dilution interval of 2m.

About Forte Energy
Forte  Energy is an Australian-based minerals company focused on the exploration and development of uranium
and  associated bi-products in Mauritania and Guinea in West Africa. The Company has an extensive  pipeline
of assets and total JORC resources of 76.8Mt @ 266ppm U3O8for 44.9Mlbs contained U3O8 (100ppm cut-off).

Its  flagship  assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs  U3O8)  in
Mauritania, and the Firawa project in Guinea (19.5Mlb U3O8).

Forte Energy U3O8 JORC resources (all at a 100ppm cut-off):
Project            Resource Category        M tonnes         ppm U3O8          Contained U3O8 Mlbs
A238*                       Inferred            45.2              235                         23.4
Bir En Nar                 Indicated             0.5              886                          1.0
                            Inferred             0.8              575                          1.0
Firawa                      Inferred            30.3              295                         19.5
Total                      Indicated             0.5              886                          1.0
                            Inferred            76.3              262                         43.9
                               Total            76.8              266                         44.9

        * A238NW Anomaly included in the A238 Inferred Resources

Forte  Energy's  strategy is to target high grade uranium ore bodies and build a  low  cost  West  African-
focused uranium producer. The Company is quoted on the Australian Stock Exchange (ASX: FTE) and AIM  market
of the London Stock Exchange (AIM: FTE). For more information, visit

The  information in this report that relates to Exploration Results is based on information compiled by Mr.
Bosse  Gustafsson,  who  is  a  Member  of the European Federation of Geologists,  a  'Recognised  Overseas
Professional  Organisation'  ('ROPO') included in a list promulgated by the  ASX  from  time  to  time.  Mr
Gustafsson  is  a  full  time  Technical Director of Forte Energy NL and  is  responsible  for  exploration
activities  in  Mauritania and Guinea. Mr. Gustafsson has sufficient experience which is  relevant  to  the
style of mineralisation and type of deposit under consideration and to the activity which he is undertaking
to  qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'. Mr. Gustafsson consents to the inclusion in  this
report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Mineral Resources at the A238 prospect in Mauritania and
at  Firawa  in Guinea is based on information compiled by Mr. Bosse Gustafsson of Forte Energy  NL  and  Mr
Galen White BSc (Hons) FGS, FAUSIMM, Managing Director and Principal Geologist of CSA Global (UK) ltd.

The information in this report that relates to the Mineral Resource at Bir En Nar in Mauritania is based on
information  compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Neil Inwood of Coffey Mining  Ltd.
Neil  Inwood is the Competent Person responsible for the resource estimation and classification. Mr  Inwood
is  a  Fellow  of  the AusIMM. As Mr Inwood is now no longer employed by Coffey Mining, Coffey  Mining  has
reviewed  this  information  release  and  consent to the inclusion,  form  and  context  of  the  relevant
information  herein  as  derived  from the original resource reports for  which  Mr  Inwood's  consent  has
previously been given.

Mr.  Gustafsson,  Mr. Inwood and Mr. White have sufficient experience which is relevant  to  the  style  of
mineralisation  and type of deposit under consideration and to the activity which they have  undertaken  to
qualify  as  a  Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting  of
Exploration Results, Mineral Resources and Ore Reserves". Mr. Gustafsson, Mr. Corley and Mr. White  consent
to  the inclusion in this report of the matters based on their information in the form and context in which
it appears.

Forte Energy NL

a d v e r t i s e m e n t