ASX Announcement 2 February 2011 Australian Securities Exchange Code: FEL Ordinary Shares: 115,521,575 Unlisted Options: 18,000,000 ($0.12 exp 31 Dec 2012) 375,000 ($0.15 exp 23 Mar 2014) Board of Directors: Tony Sage Non-Executive Chairman Mark Gwynne Executive Director Paul Kelly Non-Executive Director Eloise von Puttkammer Company Secretary Key Projects & Interests: Mooloogool Iron Project Crossroads Project Kalgoorlie Regional Gold Project Kalgoorlie Nickel Project Mt Elvire Project Fe Ltd Contact: Mark Gwynne Executive Director Tel: +61 (8) 9380 9555 Corporate Office: 18 Oxford Close Leederville, Western Australia 6007 Australia Telephone +61 8 9380 9555 Facsimile +61 8 9380 9666 Australian Enquiries: Professional Public Relations David Tasker Tel: +61 8 9388 0944 Mob: +61 433 112 936 Email: david.tasker@ppr.com.au Fe Limited is an Australian domiciled, resources exploration and development company. Company Presentation Fe Limited is pleased to attach a copy of the Company Presentation which will be delivered by Company executives in Perth today. Yours faithfully FE LIMITED Eloise von Puttkammer Company Secretary felimited.com.au
Company Presentation February 2011 Mark Gwynne Executive Director
Disclaimer This presentation has been prepared by Fe Limited ( Fe or the Company ) ). It is not a disclosure document and should not be considered as an offer or invitation to subscribe for, or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. Fe has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, Fe makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation. Throughout this presentation all figures are quoted in A$ dollars unless otherwise stated. You should not act or refrain from acting in reliance on this presentation material. This overview of the Company does not purport to be all inclusive i or to contain all information which h its recipients i may require in order tomake an informed assessment of Fe Limited sit prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on previous announcements made by Fe (or other relevant parties) to the ASX. This presentation does not constitute financial product advice (nor investment, tax, accounting or legal advice) and has been prepared without taking account of any person s investment objectives, financial situation or particular needs. Competent t Persons Statementt t The information in this report that relates to Exploration Results is based on information compiled by Mr. Travis Deane, who is the Exploration Manager and a full-time employee of Fe Ltd., and reviewed by Mr. Gary Powell, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr. Powell is an Independent Technical Advisor to Fe Ltd., and is a geologist with more than 25 years experience and has sufficient i experience 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 Deane and Mr Powell both consent to the inclusion in this report of the matters based on their information in the form and context in which it appears. 2
Corporate Snapshot Capital Structure Shares on issue Share price Market cap 115.5M* 11.5c** $14.2M(undiluted)** Cash and Receivables Current cash $1.4M Receivables $1M Environmental bond, Gympie $1.5M Major Shareholders Maryborough $0.5M Cape Lambert (ASX:CFE) 16.7M Cauldron Energy (ASX:CXU) 10.5M Directors Tony Sage Mark Gwynne Paul Kelly Non Executive Chairman Executive Director Non Executive Director * Options 18,000,000 @ 12c (Dec 2012) 375,000 ($0.15 exp 23 Mar 2014) ** Share price and Market cap calculated as at 1 Feb 2011 3
Project Locations 4
The past year, strong progress August 2009 October 2009 - New board of directors appointed Review of Gympie gold mining operations, share price 7c, market capitalisation $5M - Purchase Jackson Minerals, change of focus to iron ore November 2009 - Sale of 80% Maryborough gold project January 2010 0 - Purchase of Mooloogool oogoo Project, Murchison February 2010 March 2010 April 2010 - Name change from Buka Gold to Fe Limited - Sale of Gympie plant and equipment commences, realising approx $2M, with $1M outstanding - Gympie mill site gold cleanup netted $0.7M August 2010 January 2011 - Maiden drilling at Mt Elvire, outstanding results - Follow up drilling Mt Elvire, confirmation of potential 5
Mt Elvire Iron Ore (100% FEL) Located in emerging Yilgarn iron ore province with current and future development Other players include Cleveland Cliff, Macarthur Minerals, Polaris, Jupiter, Cashmere. Port options Esperance, Kwinana and Oakajee Open access rail to Kwinana and Esperance Possible synergies with other producers (Newly formed Yilgarn Iron Producers Association) Road haulage for DSO to rail head Options include Menzies, Southern Cross. 6
Mt Elvire (Continued) Two drill programs completed for 60 RC drill holes. Exploration Target* upgraded to: 515Mt- 675Mt @ 26%-46%, including 15Mt 25Mt 56%-62%DSO Camelback and Jigsaw drilled, results confirm grade and potential initial results highly encouraging, better Fe grade than regionally Metallurgical test work started, initial results within acceptable ranges Drilling tested 5km strike of 40km strike geophysical and outcrop targets *In accordance with Clause 18 of the JORC Code, the Company wishes to state that the potential quantity and grade of the Exploration Target is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource. 7
Mt Elvire (Continued) Iron Crescent Prospect Drilled 5km outcrop and adjacent geophysical targets Potential DSO grade intercepted t de-risking under surficial cover geophysical targets Better results include: 16m @ 61.3% Fe from 12m, ICRC01 20m @ 60.0% Fe from 4m, ICRC02 16m @ 61.2% Fe from 20m, ICRC33 16m @ 57.3% Fe from 8m, ICRC37 20m @ 57.5% Fe from 32m, ICRC43 85m @ 44.87% Fe from surface, ICRC 04 100m @ 32.5% Fe from surface, ICRC21 120m @ 32% Fe from 36m, ICRC28 8
Peak Hill (20% FEL) Mooloogool (100% FEL) Peak Hill Project Grosvenor Gold (80%) funded by European Investment bank with intention to start field work Near term. Close to Sandfire Resources DeGrussa Project. Free carried to DTM Weld Range 281Mt DSO Wiluna West Mooloogool l Iron 160Mt @ 59.1% fe Project Large (2023km²), underexplored land package in emerging Mid West Iron Province. Prelim field work conducted, targeting coincident geochemical/geophysical target. Drilling anticipated Q2 2011. 9
Robinson Range (20% FEL) PepiniNini Minerals Ltd (40% iron ore rights, Operator), Grosvenor Gold (40%). Fel free carried to DTM 390km² highly prospective Robinson Range, Mid West Iron Ore region. JVA finalised allowing commencement of ffield work. Rock chips averaging >60% Fe. Statutory approvals for drill program closeto completion. 5,000m RC drill program to define initial JORC inferred resource, starting soon? Courtesy PepinNini Minerals Ltd 10
Kalgoorlie Nickel (100% FEL) High quality nickel sulphide exploration play with near term/ long term potential ti Great location, close to existing mines and infrastructure. t Drill ready with walk up targets. Extensive geological database In discussion i for farm out 11
Kalgoorlie Gold (70-100% Fel, Barrick earning 75%) Extensive land package in Golden Triangle Targets include Kanowna Belle, Frogs Legs/ Raleigh style geology Surrounded by BIG mines, oustanding location, close to existing mines and infrastructure. Drill ready with walk up targets. Extensive geological database Under review. 12
Other Projects Northcote, Far North Queensland Fel 20%, free carried to DTM (Republic Gold 80%) 573,000 ounces Au Crossroads Project, Kalgoorlie WA (Barrick Gold) FEL 2% NSR 73,000 ounces Au Mining anticipated 2011 Vettersburg, Goldfields WA (FEL 65%) 13
Investment Highlights New board with proven track-record of project generation and value creation Focus on value creation (already established and expected to continue) Continue aggressive exploration push at key projects Focus on consolidation within established iron ore province with infrastructure advantages Continue review and divestment of non-core assets 14
Thank you Contact: Mark Gwynne Executive Director Fe Limited 18 Oxford Close West Leederville WA 6007 Phone: (08) 9380 9555 15