Proactiveinvestors Australia

Forte Energy NL, (previously Murchison United NL), is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide.

Forte Energy has secured an extensive portfolio of uranium projects in the Republics of Guinea and Mauritania in West Africa. Exploration programs have so far established JORC code compliant uranium resources totaling 44.9Mlbs U3O8 (76.8Mt @ 266ppm U3O8) from its 100% owned Firawa (Guinea), Bir En Nar and A238 (Mauritania) prospects. (See Resources Table for further details).

In 2010 the Company completed the sale of its 50% JV interest in the Maroochydore copper/cobalt project in Western Australia. The Company has also entered into a sale agreement for its Millenium copper/cobalt project in Queensland, Australia, as it focuses on its West African uranium projects.

Forte Energy NL’s shares are listed on both the Australian Stock Exchange (ASX: FTE) and the Alternative Investment Market (AIM: FTE) of the London Stock Exchange.

Mauritania Project

Forte Energy currently holds ten Group 4 uranium exploration licences in the Republic of Mauritania, in West Africa. The licences cover 9,925 square kilometres.

Mauritania represents an attractive opportunity for Forte Energy, with large tracts of prospective exploration ground including historical uranium prospects located within Reguibat Massive, a part of the West African Shield. Exploration is further enhanced by the availability of modern airborne geophysical data and modern geological maps from the PRISM 1 project conducted by the World Bank.

Digital airborne data and processing of radiometric line data has identified several strong uranium anomalies, many of which have been followed up with field surveys. Initial assays from reconnaissance sampling at some of these anomalies returned grades of up to 9,500ppm U3O8 (0.95%).

In December 2007, the Company completed its first drilling program in Mauritania – at its Bir En Nar prospect in the Zednes region – following up on high sample results previously obtained. The 4,006 metre Reverse Circulation (RC) drilling program consisted of 41 holes of between 50m and 150m. Downhole radiometric logging results indicated numerous high-grade uranium intersections, including 1.55m at 18,280ppm U3O8 (1.83%). A follow-up diamond core drilling program of more than 5,500 metres was completed in February 2010 enabling the announcement in July 2010 of an initial JORC code compliant U3O8 resource.

For more information about Forte Energy's Mauritania project please click here.

Guinea Project

Forte Energy holds four Uranium Prospecting Permits in the Republic of Guinea, West Africa. The permits for Uranium and Rare Earth Elements cover 847 square kilometres over two separate concession areas – Firawa and Bohoduo.

Firawa

Previous partial exploration in the 1980s by Davy McKee identified a five-kilometre anomaly lying in an east-west direction at the Firawa prospect. An initial drilling program was successfully completed during May 2007. This program comprised 29 Reverse Circulation (RC) drill holes over 1,809 metres, targeting a highly prospective two-kilometre section within Forte Energy’s licences.

A follow-up diamond drilling program commenced in December 2008, targeting a JORC-compliant resource estimate for Firawa. The initial 4,000 metre program was increased to 5,859 metres based on encouraging initial results.A further 4,412m of RC drilling was completed in February 2012 to test for extensions to the deposit and to test a central section not accessible during previous drilling campaigns.

Bohoduo:

Previous ground work and uncompleted diamond drilling by Davy McKee targeted a 700-metre long, irregular uranium anomaly at Bohoduo. Forte Energy has confirmed the presence of uranium mineralisation, and airborne geophysical data indicates a 12-kilometre long extension of the anomaly to the east.

An initial drilling program was carried out during May 2008. A further programme of 1,277m of RC drilling was completed in February 2012. The Company is encouraged by the results of chemical assay testing from both drilling campaigns, released on 4 July 2012 2012.

For more info regarding Forte Energy's Guinea project please click here.

Glenn Robert Featherby - B.Com, ACA - Non-Executive Chairman

Glenn Featherby joined the Board on 2 August 2004. He has over 20 years experience in corporate advisory work and has worked extensively in the resources sector. Glenn worked with KPMG in Perth and London before establishing his own accounting practice in Perth in 1997. He has previously been finance director of AIM-listed Regal Petroleum Plc and non-executive director of Canadian and AIM-listed European Goldfields Limited.

Mark David Reilly - B.Bus, ACA - Managing Director and Chief Executive Officer

Mark Reilly joined the Board on 2 August 2004. He has over 15 years experience in advisory work with extensive experience in the mining, banking and finance industries. Mark worked with Coopers & Lybrand in Perth before establishing an accounting practice with Glenn Featherby. He is the former administrator of the Company’s previous subsidiary, Renison Bell Limited.

Christopher David Grannell - Non-Executive Director

David Grannell joined the Board on 4 April 2005. He has significant London capital markets experience focused in the natural resources sector and was an executive director and chief financial officer of Canadian and AIM-listed European Goldfields Limited. David is a fellow of the Chartered Association of Certified Accountants based in London.

James Gerald Leahy - Non-Executive Director

James Leahy joined the Board on 26 April 2012. Mr. Leahy has more than 26 years experience in the mining sector as a senior mining analyst and as a specialist corporate broker with expertise in international institutional and hedge funds, foreign capital and private equity markets. As a founding partner of the natural resources team at Mirabaud Securities, one of the leading UK based stockbroking firms, offering specialised and quality stockbroking to corporate and institutional clients, Mr. Leahy has advised a number of natural resource focused funds in the UK, raised more than US$2 billion in equity for resource companies and participated in over 30 IPO’s.

Scott Yelland - Chief Operating Officer

Scott Yelland is a mining engineer with over 28 years experience in the mining industry. Scott has a Masters degree in Mining Engineering from the Camborne School of Mines, is a Chartered Engineer and a Fellow of the Institute of Mining, Mineral and Materials.  Scott joins Forte Energy from Berkeley Resources Ltd, an ASX and AIM listed resources company with advanced uranium exploration and development projects in Spain.  Prior to joining Berkeley in April 2007, Scott held Senior management roles with Kinross in Russia and with Rio Tinto in Brazil and Australia.

Bosse Gustafsson - M.Sc (Geology & Mineralogy), EurGeol - Chief Geologist

Bosse Gustafsson joined the Company on 15 January 2006 as a Consulting Geologist. He served on the Board as Technical Director from 3 October 2006 until 30 April 2012. Bosse has more than 40 years geological experience, including more than 18 years in uranium exploration, and is a lifetime member of the Geological Society of Sweden and a member of the European Federation of Geologists. Bosse oversees the Company's exploration programmes in Africa, having formerly been Senior Geologist in the Mineral Resources Information Offaice of the Geological Survey of Sweden. He has previously managed a number of exploration programmes both in that role and on secondment to private companies in various locations throughout Europe, Africa and Latin America.

Information taken from Comany website 18.12.2012