Forte Energy NL ACN 009 087 852 ASX, AIM and Media Release 23rd January 2012 Initial Assay Results in Mauritania confirm mineralisation extensions, drilling commenced in Guinea International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") is pleased to announce that they have received initial assay results for the Reverse Circulation (RC) drilling programme currently underway at the A238 Prospect in Mauritania.and to announce that the new drilling programme at its Firawa Project in Guinea has commenced. Highlights - Mauritania ----------------------- * Initial assay results have been received for 36 drill holes out of a total of 55 drilled to date from the 10,000m RC drilling programme at the A238 Prospect. * The results confirm mineralised extensions to the north west of A238 and at depth below the existing A238 resource. * Notable intersections include: o RC133: 25m @ 357ppm U o RC140: 10m @ 510ppm U o RC142: 8m @ 312ppm U o RC148: 22m @ 320ppm U o RC150: 15m @ 382ppm U& 12m @ 381ppm U o RC151: 15m @ 339ppm U o RC152: 24m@ 315ppm U o RC160: 8m @ 260ppm U & 16m @ 248ppm U * Assay results for the outstanding 19 drill holes are due shortly. * A238 drilling programme progressing on schedule with over 7,600m drilled to date and the remaining 2,400m scheduled to be completed by the end of January. * A238 resource update is expected to be announced in Q1 2012, with an expected increase to the current JORC Code compliant resource for the A238 Prospect of 14.9m lbs of U3O8out of theCompany's total JORC resource of 28.5m lbs. U3O8 (at a 100ppm cut-off). * Initial drilling of calcrete hosted uranium prospects at the Hasi Baida (948) licence is scheduled to start at the end of January. Guinea ------ * A 5,000m RC drilling program commenced at Firawa on the 9th January to test the extensions along strike and at depth. Mauritania ---------- On the 17th October, 2011, a 10,000m drilling program commenced at the A238 prospect in Mauritania, with the objective of drilling outside of the existing inferred resource outline and testing the potential mineralised extensions both at depth and along strike. To date a total of 55 holes (7,600m) have been drilled, including 18 holes at the north west anomaly, situated approximately 800m to the north west of the main zone. To view Figure 1: Mauritania Forte Energy Licences, please open the following link in a new window: [ http://media3.marketwire.com/docs/fig_1_mauritania.pdf ] Initial assay results from the first 36 holes have been received from the Stewart Group Laboratories in Ireland and South Africa. These identified mineralised extensions below the existing resources and to the south of the area. Early assay results have also confirmed mineralisation from surface down to 140m at the north west anomaly. The initial assay results are from representative samples from the current drilling campaign, which represents approximately 40% of the total assays expected. Further assay results are expected in February and will be used by CSA Global Inc (UK) to complete the A238 resource update, which is expected by the end of Q1 2012. Drilling at the A238 Prospect is scheduled to be completed within the next week and the drill rig will then move to Hasi Baida for an initial drilling programme of 3,000m to test several near to surface calcrete deposits, covering over 12km2. Historical works completed by the company, including trenching and pits, have identified high grade mineralisation in close proximity to the surface. Table 1: A238 Prospect - Further drilling assays ------------------------------------------------ ------------------------------------------------------------------------------------------------------- License Prospect Hole_Id East North Inclination From To Interval Average WGS84 WGS84 Degrees (m) (m) (m) Grade U (ppm) ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC121 282413 2772916 50 11 15 4 215 ------------------------------------------------------------------------------------------------------- 18 19 1 226 ------------------------------------------------------------------------------------------------------- 20 25 5 272 ------------------------------------------------------------------------------------------------------- 27 28 1 194 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC124 283314 2772873 50 123 124 1 261 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC125 283859 2772034 50 105 106 1 406 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC126 283918 2772014 50 29 35 6 197 ------------------------------------------------------------------------------------------------------- 37 39 2 264 ------------------------------------------------------------------------------------------------------- 44 47 3 398 ------------------------------------------------------------------------------------------------------- 48 49 1 214 ------------------------------------------------------------------------------------------------------- 58 60 2 286 ------------------------------------------------------------------------------------------------------- 71 73 2 286 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC127 283893 2771997 50 77 79 2 219 ------------------------------------------------------------------------------------------------------- 84 85 1 303 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC128 283974 2771931 60 22 23 1 110 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC129 283974 2771931 60 22 23 1 320 ------------------------------------------------------------------------------------------------------- 26 28 2 217 ------------------------------------------------------------------------------------------------------- 128 129 1 255 ------------------------------------------------------------------------------------------------------- 131 133 2 220 ------------------------------------------------------------------------------------------------------- 139 140 1 218 ------------------------------------------------------------------------------------------------------- 141 144 3 186 ------------------------------------------------------------------------------------------------------- 146 150 4 361 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC130 284060 2771748 70 106 107 1 213 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC133 284198 2771601 70 25 27 2 287 ------------------------------------------------------------------------------------------------------- 172 197 25 357 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC140 284487 2771316 70 89 99 10 510 ------------------------------------------------------------------------------------------------------- 104 106 2 250 ------------------------------------------------------------------------------------------------------- 110 111 1 308 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC141 284466 2771302 70 157 160 3 295 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC142 284531 2771224 50 100 108 8 312 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC146 282388 2772899 50 54 63 9 367 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC147 282310 2772972 50 13 14 1 208 ------------------------------------------------------------------------------------------------------- 20 22 2 185 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC148 282455 2772885 50 40 44 4 231 ------------------------------------------------------------------------------------------------------- 46 68 22 320 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC149 282284 2772957 50 69 71 2 209 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC150 282427 2772870 60 86 101 15 282 ------------------------------------------------------------------------------------------------------- 104 116 12 381 ------------------------------------------------------------------------------------------------------- 118 125 7 209 ------------------------------------------------------------------------------------------------------- 147 150 3 182 ------------------------------------------------------------------------------------------------------- 153 155 2 210 ------------------------------------------------------------------------------------------------------- 160 163 3 233 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC151 282520 2772862 50 36 51 15 339 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC152 282520 2772836 60 68 75 7 330 ------------------------------------------------------------------------------------------------------- 78 81 3 362 ------------------------------------------------------------------------------------------------------- 83 107 24 315 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC155 282547 2772815 60 120 127 7 219 ------------------------------------------------------------------------------------------------------- 129 133 4 189 ------------------------------------------------------------------------------------------------------- 136 140 4 214 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC156 283245 2773076 60 55 59 4 226 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC157 283318 2773001 60 41 45 4 252 ------------------------------------------------------------------------------------------------------- 54 55 1 206 ------------------------------------------------------------------------------------------------------- 70 71 1 247 ------------------------------------------------------------------------------------------------------- 79 80 1 217 ------------------------------------------------------------------------------------------------------- 81 82 1 233 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC158 283412 2772941 70 88 91 3 216 ------------------------------------------------------------------------------------------------------- 108 110 2 188 ------------------------------------------------------------------------------------------------------- 113 114 1 255 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC160 282490 2772810 60 127 135 8 260 ------------------------------------------------------------------------------------------------------- 144 160 16 248 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC161 282575 2772857 50 25 27 2 193 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC162 282615 2772826 50 42 43 1 270 ------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 NW RC163 282779 2772900 50 22 26 4 265 ------------------------------------------------------------------------------------------------------- 41 42 1 310 ------------------------------------------------------------------------------------------------------- Guinea The 5,000m RC drilling program began at Firawa on the 9th January with a total of 1,800m (20 holes) completed to date. The drilling started in the central area infilling in areas where access was not previously possible and testing the down dip extension of the mineralisation. To view Figure 2: Firawa Project - Guinea: Planned Drilling, please open the following link in a new window: [ http://media3.marketwire.com/docs/fig_2_firawa.pdf ] Drilling is scheduled to continue for the next month testing the anomalies along strike to the east (+2km) and west (+1km). Assay results are expected early in the second quarter, and a resource update is scheduled for the end of the second quarter. Commenting on the initial drilling assay results in Mauritania, Mark Reilly, Managing Director of Forte said: "These results add further confidence to what could be a significant and commercial uranium resource in Mauritania. Though we remain at an early stage of proving up additional resources, we are encouraged by the upside of the A328 Prospect, with 90% of the holes drilled encountering mineralisation. We look forward to completing the drilling on this prospect, receiving further assay results, as well as exploring the potential for the calcrete deposit Hasi Baida, which we will start to drill later this month". 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 Bobby Morse/Louise Hadcocks Buchanan Tel: +44 (0) 207 466 5000 Nicholas Read/Paul Armstrong Read Corporate Tel: +61 (0) 8 9388 1474 Stuart Laing RFC Corporate Finance 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: [ info@forteenergy.com.au ] Email: [ info@forteenergy.co.uk ] Web: [ www.forteenergy.com.au ] Note: 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 Resource at the A238 prospect in Mauritania is based on information compiled by Mr. Bosse Gustafsson or Forte Energy NL and Mr Galen White BSc (hons) FGS, MAUSIMM, Principal Geologist of CSA Global Inc (UK). 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. The information in this report that relates to the Mineral Resource at Firawa in Guinea is based on information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Doug Corley of Coffey Mining Ltd. Mr. Gustafsson, Mr. Corley, 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, Mr. Inwood 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. 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 45.5Mt @ 284ppm U3O8for 28.5Mlbs contained U3O8 (100ppm cut-off). Its flagship assets are the A238 prospect (14.9Mlbs U3O8) and the Bir En Nar project (2.06Mlbs U3O8) in Mauritania, and the Firawa project in Guinea (11.6Mlb U3O8). The Company has also received encouraging rare earth elements results from Firawa, with a re-assay programme confirming correlation of REEs with uranium mineralisation. Forte Energy U3O8 JORC resources (all at a 100ppm cut-off): ----------------------------------------------------------------------------------------------------- Project Resource Category M tonnes ppm U3O8 Contained U3O8 Mlbs ----------------------------------------------------------------------------------------------------- A238 Inferred 26.5 256 14.9 ---------------------------------------------------------------------- Total 26.5 256 14.9 ----------------------------------------------------------------------------------------------------- Bir En Nar Indicated 0.55 886 1.0 ---------------------------------------------------------------------- Inferred 0.78 575 1.0 ---------------------------------------------------------------------- Total 1.33 704 2.0 ----------------------------------------------------------------------------------------------------- Firawa Inferred 17.7 296 11.6 ---------------------------------------------------------------------- Total 17.7 296 11.6 ----------------------------------------------------------------------------------------------------- Total Indicated 0.5 886 1.0 ---------------------------------------------------------------------- Inferred 45 277 27.5 ---------------------------------------------------------------------- Total 45.5 284 28.5 ----------------------------------------------------------------------------------------------------- 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 [ www.forteenergy.com.au ]

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