Forte Energy NL
LSE : FTE

April 19, 2012 02:00 ET

Encouraging Initial Assay Results in Guinea

                                                                                           Forte Energy NL
                                                                                                           
                                                                                            ACN 009 087 852
                                                                                                       
                                                                                 ASX, AIM and Media Release
19th April 2012
                                                     
                                Encouraging Initial Assay Results 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 completed on 1st February 2012 at the Firawa project, in Guinea.

The  Firawa drilling programme included 63 holes, totalling 4,712m, of which 38 holes have been assayed.
Assay  results have been received from the Stewart Group laboratories in Ireland for the first 16  holes
and remaining results are expected in May 2012


Highlights

     *       Notable intersections include:

                - FRW 200:  32m @ 359ppm U308 and 13m @ 347ppm U308
                - FRW 201:  17m @ 364ppm U308
                - FRW 202:   8m @ 585ppm U308
                - FRW 203:   9m @ 402ppm U308
                - FRW 213:   8m @ 347ppm U308
                - FRW 216:  16m @628ppm U308
                - FRW 217:  18m @344ppm U308
                     
    *       Assay results from 9 holes have confirmed the continuity of the mineralisation in the central
            area, which had not been accessible previously.
      
    *       The Firawa resource update remains on schedule for the end of Q2 2012.
        
    *       Remaining assay results for Firawa and Bohoduo expected in May.


To   view   Figure   1:   Guinea   Licences,  please  open  the   following   link   in   a   new   window:
http://media3.marketwire.com/docs/fte_0419_fig_1.pdf


The  RC  drilling program at the Firawa Project was completed in February with a total of 63 holes drilled,
totalling  4,712m.  The programme included 14 holes in the central section, which had not  been  accessible
previously, 24 holes to the east and 25 holes to the west to test the potential extensions along strike.


To  view  Figure  2:  Firawa  RC drill hole locations, please open the following  link  in  a  new  window:
http://media3.marketwire.com/docs/fte_0419_fig_2.pdf

Samples have been prepared for 38 of the drilled holes and were sent to the Stewart Group Omac laboratories
in Ireland for assaying. Assay results have been received from the first 16 holes drilled, predominantly in
the central area and are summarised below in table 1.

Table 1: Summary of Firawa Assay Results

-----------------------------------------------------------------------------------------------------------
Hole Id        East         North       Inclination       From        To        Interval       Average
              WGS84         WGS84        (Degrees)        (m)         (m)          (m)        U308 (ppm)
-----------------------------------------------------------------------------------------------------------
FRW200        411450       1017880           50            14         26            1            485
                                                           27         28            1            265
                                                           30         31            1            248
                                                           36         68           32            359
                                                           70         83           13            347
                                                           88         89            1            262
-----------------------------------------------------------------------------------------------------------
FRW201        411550       1017910           50            10         11            1            207
                                                           12         13            1            245
                                                           14         15            1            202
                                                           17         34           17            364
                                                           76         78            2            265
                                                           80         81            1            254
-----------------------------------------------------------------------------------------------------------
FRW202        411600       1017950           50            10         11            1            247
                                                           13         14            1            316
                                                           26         34            8            585
                                                           48         50            2            332
                                                           60         62            2            413
                                                           71         75            4            445
                                                           83         84            1            265
                                                           89         92            3            419
-----------------------------------------------------------------------------------------------------------
FRW203        411700       1017975           50            26         27            1            255
                                                           29         38            9            402
                                                           58         61            3            346
                                                           62         63            1            331
-----------------------------------------------------------------------------------------------------------
FRW204        411800       1018025           50            48         54            6            292
                                                           56         57            1            322
-----------------------------------------------------------------------------------------------------------
FRW205        411900       1018025                         7           8            1            205
                                                          121         127           6            480
-----------------------------------------------------------------------------------------------------------
FRW207        412310       1018000           50            35         36            1            461
                                                           59         60            1            206
-----------------------------------------------------------------------------------------------------------
FRW209        412200       1018060           50            26         27            1            213
                                                           51         52            1            250
                                                           54         55            1            203
                                                           58         59            1            236
-----------------------------------------------------------------------------------------------------------
FRW213        413700       1018150           50            5          13            8            347
-----------------------------------------------------------------------------------------------------------
FRW216        411600       1017955           80            32         37            5            357
                                                           41         42            1            461
                                                           43         46            3            461
                                                           47         49            2            322
                                                           51         52            1            221
                                                           62         78           16            628
                                                           79         80            1            232
                                                           81         83            2            303
-----------------------------------------------------------------------------------------------------------
FRW217        411550       1017930           50            26         44           18            334
-----------------------------------------------------------------------------------------------------------

The  assay  results  from  the 8 holes drilled in the central area have confirmed  the  continuity  of  the
mineralisation over 1km. The two holes FFW 202 and 203 have both confirmed mineralisation to the north east
of the central area with intermittent mineralisation from 10m below surface down to 92m.

Encouraging assay results were found in hole FRW 213, approximately 1.5km to the east of the central  area,
where mineralisation was identified from 5m below surface down to 13m, grading 8m at 347ppm U308.

Further  assay results are expected in May from the remaining 22 sampled holes at Firawa and the 9  sampled
holes at Bohoduo. During this period CSA Global consultants will be upgrading the Firawa resource model and
are scheduled to complete the update by the end of the second quarter.

Commenting on the initial assay results from Firawa, Mark Reilly, Managing Director of Forte Energy said:

"The  results  so far are pleasing and confirm continuity of mineralisation in the central area.   We  look
forward  to receiving the remainder of the Guinea assay results and incorporating them into a revised  JORC
resource  estimate for the Firawa project that remains on schedule to be released towards the end  of  this
quarter".

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/Cornelia Browne
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


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 64.2Mt @ 262ppm U3O8for 37.0Mlbs contained U3O8 (100ppm cut-off).

Its  flagship  assets are the A238 prospect (23.4Mlbs 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                 45.2                235             23.4
     ---------------------------------------------------------------------------------------------------
        Bir En Nar                   Indicated                 0.55                886              1.0
                            ----------------------------------------------------------------------------
                                      Inferred                 0.78                575              1.0
     ---------------------------------------------------------------------------------------------------
        Firawa                        Inferred                 17.7                296             11.6
     ---------------------------------------------------------------------------------------------------
        Total                        Indicated                  0.5                886              1.0
                            ----------------------------------------------------------------------------
                                      Inferred                 63.7                256             36.0
                            ----------------------------------------------------------------------------
                                         Total                 64.2                262             37.0
     ---------------------------------------------------------------------------------------------------
*  A238NW Anomaly included in the A238 Inferred Resources
    
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


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 of Forte Energy NL and Mr Galen White BSc (Hons) FGS,
FAUSIMM, 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.
Neil  Inwood is the Competent Person responsible for the resource estimation and classification.  Mr Inwood
is  a  Fellow  of the AusIMM.  As Mr Inwood is now no longer employed by Coffey Mining, Coffey  Mining  has
reviewed  this  information  release  and  consent to the inclusion,  form  and  context  of  the  relevant
information  herein  as  derived  from the original resource reports for  which  Mr  Inwood's  consent  has
previously been given.

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 BSc (Hons)  MAIG,  R.P.
Geo (Mining) 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  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.

Contact Information

  • Forte Energy NL