Forte Energy NL
LSE : FTE

February 29, 2012 02:00 ET

Further Assay Results from A238 Prospect in Mauritania

                                                                                           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

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