Forte Energy NL ACN 009 087 852 29th February 2012 ASX, AIM and Media Release Further Assay Results in Mauritania at the A238 Prospect indicate higher grades at depth International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") announces further positive assay results from another four holes from the recent Reverse Circulation (RC) drilling programme completed at the A238 Prospect in Mauritania. Two of the holes were deep holes, further confirming the extension of mineralisation at depth below the existing resources to the south of the A238 Prospect. The remainder of the assays from the last seven holes drilled were dispatched from Mauritania on the 25th February and assay results are expected in mid-March. Compilation of the A238 resource upgrade is progressing well and is scheduled to be completed before the end of March. Highlights * Assay results from two holes drilled in the southern part of the A238 prospect have identified mineralisation below the existing resources down to 180m below surface. * Assay results from 8 angled RC holes drilled over a strike length of 1.2km have now confirmed mineralisation down to 200m below surface, with the grades in the main structure at depth generally exceeding those identified in the original A238 resource (256ppm U308). * RC 167 drilled at 60 degrees intercepted intermittent mineralisation from 195m to 241m with grades up to 711ppm U. * Assay results received for another 4 holes. Notable intersections include: - RC 166: 4m @ 199ppm U - RC 167: 23m @ 262ppm U 11m @ 300ppm U 4m @ 251ppm U - RC 168: 12m @ 371ppm U * RC 169 was drilled 1.25km to the north of RC 168; assay results have been received for the first 63m confirming some bands of mineralisation commencing towards the end of this section. However, down the hole gamma surveys and scintillometer readings over 5,000cps have indicated mineralisation to 140m and down to 100m below surface. * A short RC drilling campaign aimed to test the down dip extensions to the south of RC 168 and to the north of RC 169 is planned in March. Mauritania The Company has now received further assay results from the Stewart Group Laboratories in Ireland for another four RC holes (RC 165, 166, 167, 168 and part 169) from the 63 hole programme drilled at the A238 Prospect. To view Figure 1: A238 Drilling, please open the following link in a new window: [ http://media3.marketwire.com/docs/forte_0229_fig_1.pdf ] Two RC holes namely RC 167 and RC 168 were drilled to the west of the A238 Prospect on profiles L66 and L68 respectively (See Figure 1), with the aim of testing the potential down dip extensions of the mineralisation. Historical holes were only drilled to 50m below surface on profile L68 and 90m below surface on profile L66. RC 167, located on section L66, was drilled at 600 to a depth of 251m (See figure 2). The assay results have confirmed the mineralised zone with the following intercepts: * from 195m to 220m, with 25m @ 261ppm U, * from 223m to 234m, with 11m @300ppm U, * and from 237m to 241, with 4m @ 251ppm U. Higher grades have also been seen in the assay results with grades up to 711ppm U. To view Figure 2: A238 Section L66, please open the following link in a new window: [ http://media3.marketwire.com/docs/forte_0229_fig_2.pdf ] Assay results from RC 168 drilled 100m to the south of RC 167on section L68 also confirm mineralisation at depth towards the southern part of the A238 Prospect with mineralisation identified from 145m to 157m, grading 371ppm U over 12m. As seen in the previous announcement (15th February 2012) all of the assay results In the 8 deeper holes are showing consistently higher grades than the original resource grade of 256ppm U308 (at a cut-off grade of 100ppm U308). To view Figure 3: A238 Section L68, please open the following link in a new window: [ http://media3.marketwire.com/docs/forte_0229_fig_3.pdf ] Assay results for the first 63m of RC 169 drilled on section L43 have been received confirming some bands of mineralisation commencing towards the end of this section. The hole was drilled to 143m, approximately 100m below surface. A combination of scintillometer readings and down the hole gamma surveys indicate narrow zones of mineralisation commencing at 60m from surface and becoming more dense down to 139m (See Figure 4). The scintillometer readings show values as high as 6,000cps. To view Figure 4: A238 Section L43, please open the following link in a new window: [ http://media3.marketwire.com/docs/forte_0229_fig_4.pdf ] The recent assay results indicate that the mineralisation extends to depth in the central area of the A238 Prospect between sections L42 and L68 (1.3km). Historical drilling by the Company to the south and north of this area included only shallow drill holes, down to approximately 60m below the surface. A further short RC drilling campaign (~3,000m) has been planned to drill these potential extensions to the north from section L42 and to the south of section L68. Samples from the final 7 holes drilled in the initial A238 drilling campaign were sent to the Stewart laboratories in Ireland on the 25th February and assay results are due in mid-March. These assay results will be incorporated in the CSA Global A238 Resource update, which is on schedule to be completed before the end of March. Table 1: A238 Prospect - Further drilling assays ---------------------------------------------------------------------------------------------------------- License Prospect Hole East North Inclination From To Interval Average Id WGS84 WGS84 Degrees (m) (m) (m) Grade U (ppm) ---------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC165 284526 2771465 60 104 106 2 213 ---------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC166 284600 2771395 60 218 222 4 199 ---------------------------------------------------------------------------------------------------------- 225 227 2 227 ---------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC167 284482 2771190 60 195 220 25 261 ---------------------------------------------------------------------------------------------------------- 223 234 11 299 ---------------------------------------------------------------------------------------------------------- 237 241 4 251 ---------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC168 284567 2771128 60 145 157 12 371 ---------------------------------------------------------------------------------------------------------- LEGLEYA 286 A238 RC169 283839 2772144 60 27 28 1 174 ---------------------------------------------------------------------------------------------------------- 49 50 1 323 ---------------------------------------------------------------------------------------------------------- 60 62 2 253 ---------------------------------------------------------------------------------------------------------- Commenting on the drilling programme in Mauritania, Mark Reilly, Managing Director of Forte said: "Forte's understanding of the A238 Prospect continues to improve with every assay result. Rather than a relatively shallow deposit, the prospects of a high grade and deeper resource look increasingly likely. We are greatly encouraged by the results of the latest drilling programme to date and look forward to updating our resource model. The company will be undertaking a roadshow to North American investors and attending the PDAC conference in Toronto in early March." 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 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). 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 ]

Contributing Sources

---

Market Wire