Forte Energy NL
LSE : FTE

July 31, 2014 02:00 ET

Joint Venture Signed with European Uranium Resources

                                                                                           Forte Energy NL
                                                                                                          
                                                                                       ASX and AIM Release
                                                                                                          
                                                                                              31 July 2014
                                                                                                            
       FORTE ENERGY SIGNS JOINT VENTURE WITH EUROPEAN URANIUM RESOURCES ON SLOVAK URANIUM PROPERTIES
_________________________________________________________________________

                                                     
Forte  Energy  NL ("Forte" or "the Company") (ASX/AIM: FTE) announced on 16 June 2014 that it  had  entered
into a binding letter of intent (the "LOI") with European Uranium Resources Ltd ("EUU") (TSXV: EUU) whereby
Forte  will  earn  a 50% interest in EUU's Slovakian uranium projects.  The interest will be  held  through
ownership of 50% of EUU's currently wholly-owned Slovak subsidiaries, Ludovika Energy and Ludovika  Mining,
which hold the mineral licenses comprising the Kuriskova and Novoveska Huta uranium projects.

Forte is pleased to announce that the parties have now executed a definitive Joint Venture agreement on  31
July 2014 to replace the LOI and have mutually agreed to extend the deadline for payment of CAD$475,000  by
Forte to EUU to 14 August 2014, rather than 31 July 2014.  Forte must sole fund a minimum of CAD$350,000  a
year  on  the  Ludovika entities over the next ten years with the first year's expenditure  of  CAD$350,000
being an obligation.




For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                                   Tel: +61 (0) 8 9322 4071

Geoff Nash/Ben Thompson                           Tel: +44 (0) 207 220 0500
Elizabeth Johnson (broking)
finnCap

Oliver Morse / Trinity McIntyre
RFC Ambrian Ltd                                   Tel: +61 (0) 8 9480 2500
(AIM Nominated Adviser to the Company)

Forte Energy NL

Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073
Email: info@forteenergy.com.au
Web: www.forteenergy.com.au

Contact Information

  • Forte Energy NL