Forte Energy NL

June 01, 2009 02:00 ET

Update on Firawa Uranium Project in Guinea

                                                                                                                          FORTE ENERGY NL
                                                                                                                          ACN 009 087 852
                                                                                                           ASX CODE:  FTE,  AIM CODE: FTE, 
                                                                                           Telephone: +618 9322 4071, Fax: +618 9322 4073

                                                                                                               ASX, AIM and Media Release
                                                                                                                              1 June 2009


* Preparation of initial JORC Code-compliant resource for the Firawa Uranium Project now underway ~ expected to be finalised within 3-4 weeks.

* +5,800m resource drilling programme completed in January following extension of original 4,000m programme due to positive results.

* Unforeseen delays experienced in processing of assay samples by ALS Chemex,  which has advised that final results are now imminent.

* Forte Energy is encouraged by results received so far, which are in line with those from initial drilling in May 2007. 

* $10m placement also announced today ensures funding available for accelerated exploration programmes.

International uranium company Forte Energy NL (ASX: FTE, AIM: FTE) is pleased to announce that it has engaged leading mining consultants Coffey
Mining to prepare an initial JORC Code-compliant resource estimate for the Company's Firawa Uranium Project, located in the Republic of Guinea,
West Africa. 

Coffey Mining has been provided with all data from the Company's maiden 1,800 metre reconnaissance Reverse Circulation (RC) drilling campaign at
Firawa, which was undertaken in May 2007, as well as all results obtained to date from the latest drilling programme. Subject to any further
delays in processing of assay results, the announcement of a JORC Code-compliant uranium resource statement for Firawa is expected within three 
to four weeks.

The May 2007 drilling campaign identified a potentially significant zone of uranium mineralisation over a 2km strike length, which became the 
subject of the resource drilling programme completed in January this year.

The plan for the recent resource drilling initially comprised 50 diamond core drill holes for 4,000 metres of predominantly in-fill drilling at 
100 metre intervals, with drill spacing reduced to 50 metres where better results were observed. 

During the course of drilling, highly encouraging results were observed based on handheld scintillometer readings from core samples. Importantly, 
some of these results were in areas with no previous history of mineralisation. This resulted in a decision to significantly extend the programme 
by undertaking over 1,800 metres of additional drilling, for a total of around 5,850 metres. 

Altogether, 56 holes were drilled to depths of between 80 and 154 metres, generally inclined at 50 degrees. The drilling targeted a 2.5km section of 
uranium mineralisation which follows an east-west trending tectonic structure, interpreted as a fault zone, over a distance of approximately 5km. 

Assay samples were dispatched to ALS Chemex for analysis; however unexpected delays have been experienced in obtaining assay results. Results 
received so far are in line with, and confirm, the results obtained from the initial May 2007 drilling campaign.

Drilling at the eastern end of the target area was expected to confirm the end of the mineralised zone. However, results observed from the 
easternmost holes indicate that the mineralisation remains open in this direction. The mineralised zone also extends to the west of the drilled 
area, although the difficult terrain encountered prevented further drilling to extend the zone during the recent programme.

The Firawa Project is the most advanced of Forte Energy's three uranium exploration projects in Guinea and the delineation of a maiden uranium 
resource estimate is an important step towards the Company's ultimate development and production goals.

Forte Energy also announced today details of an A$10 million capital raising to sophisticated institutional clients of Blackwood Capital and 
StoneBridge Group. 

Forte Energy is currently finalising preparations for another resource drilling programme, at the Bir En Nar uranium project in Mauritania, which 
is scheduled to commence in July.

Mark Reilly
Managing Director

Forte Energy's Nominated Advisor for the AIM market is RFC Corporate Finance Ltd.
Contact: Stuart Laing, Ph: +618 9480 2506

Conduit PR
Jos Simson/Ed Portman
+44 (0) 207 429 6603


The information in this report that relates to exploration results in West Africa 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"). Mr Bosse 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 the 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 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve'. 
Mr Gustafsson consents 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 emerging international uranium company focused on the exploration and development of a high-quality portfolio of uranium assets in 
the Republics of Mauritania and Guinea, West Africa. These assets have the potential to develop as long-life uranium production projects, representing 
a significant new strategic source of uranium supply for world markets. 

Forte is progressing its Mauritanian assets through a Strategic Alliance and Cooperation Agreement with the French-based multinational industrial and 
nuclear energy giant, Areva NC, a global expert in nuclear energy. Areva also holds a strategic 15% equity interest in Forte Energy.

Under this agreement, Forte Energy has access to Areva's extensive uranium exploration database in Mauritania as well as technical cooperation and 
on-ground support from Areva in advancing the exploration and evaluation, in particular of the rapidly emerging Bir En Nar Uranium Project, located in 
the Zednes region of northern Mauritania. 

Forte Energy and Areva have agreed to establish a joint venture to develop the Company's Mauritanian assets if a minimum 60-80 million pounds of JORC 
Code compliant inferred uranium resources are established within the next two years. 

Forte Energy's growth strategy in the international uranium industry is being driven by an accomplished Board and management team focused on maximising 
shareholder value and returns. 

Figure 1 -Forte's Guinea Projects including Firawa, please open the following link in new window:

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