Forte Energy NL
LSE : FTE

February 06, 2012 02:00 ET

New Uranium Exploration Permits Granted in Mauritania

                                                                                            Forte Energy NL
                                                                                                           
                                                                                            ACN 009 087 852
                                                                                                       
                                                                                 ASX, AIM and Media Release
6th February 2012
                                                     
                         Two new Uranium Exploration Permits granted in Mauritania

International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") is pleased
to  announce  that it has been granted two new uranium exploration permits in Mauritania,  West  Africa:
Licences 1588 - Nord Tmeimichat Rhall Amane and 1173 - Bir Ould Ben Nasser.  The licences cover an  area
of 1,325km2 and are located near the Company's existing licences in the north of the country.

The Company announced in September 2011 that it has applied for these permits, at the same time as  the
Hasi Baida permit.

The Company  now  holds  ten uranium exploration permits within Mauritania for a combined area of over
9,925km2, in addition to its Firawa and Bohoduo uranium prospects in Guinea, which total 847km2.

To view Figure 1: Forte Energy uranium exploration permits, Mauritania, please open the following link in a new window:
http://media3.marketwire.com/docs/Energy-uranium-exploration-permits-Mauritania.JPG.

Bir  Ould  Ben Nasser (375km2) is located to the east of the Gleibat Ten Edbar licence and to the north  of
the  Rhall Amane licence. During 2011 a combination of radiometric surveys and ground works have identified
surface uranium mineralisation similar to that in areas to the west and to the south.

To view Figure 2: Forte Energy new uranium exploration permits, Mauritania, please open the following link in a new window:
http://media3.marketwire.com/docs/Energy-new-uranium-exploration-permits-Mauritania.JPG.

Nord Tmeimichat Rhall Amane (1,000km2) situated approximately 40km to the east of the existing Forte Energy
licence Rhall Amane, has been identified as a prospective calcrete prospect similar to Hasi Baida. The area
was  identified  by  a combination of the interpretation of the airborne survey data at the  Department  of
Mines and Geology (DMG) in Nouakchott and field studies.

Following the completion of the Reverse Circulation (RC) drilling programmes by the end of Q1 2012 at Hasi
Baida and Tisram, a preliminary RC programme will start in Q2 at the two new licences.

As announced on the 27th September 2011, Forte Energy has agreed to grant up to 5 million options to its
long-time Mauritanian  business partners, Mauritanian Mining Services (MMS), in recognition of their
considerable efforts in managing the Company's local affairs in  Mauritania, including these licence
applications.

The options are to be granted to MMS with an exercise price of A12.5 cents per share. The options are
exercisable within three years of being granted, and will be granted if and when the following  milestones
are achieved:

    *       2 million options to be granted upon the issue of the three new permits (948, 949 and 1173),
    *       2 million options upon the commencement of exploration drilling on the new permits, and
    *       1 million options upon the release of an initial JORC code compliant mineral resource within the
            permits.

The  granting of Licence 1173 represents attainment of the first milestone. Accordingly the first 2 million
options will now be granted to MMS.

Mark Reilly, Managing Director of Forte Energy commented: "The Company is pleased to add these licences  to
its  highly  prospective  portfolio  of exploration holdings within Mauritania and is grateful for the
assistance of Mauritanian Mining Services in successfully managing the application process to achieve  this
result.  Forte is today one of the largest exploration companies operating in Mauritania, and has committed
to  an  intensive drilling programme to further increase its current JORC resource of 28.5Mlbs of U3O8. We
look forward to undertaking further field activities to explore the potential of these licences.


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

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           M tonnes         ppm U3O8        Contained
                                   Category                                            U3O8 Mlbs
        A238                       Inferred               26.5              256             14.9
        (Mauritania)                  Total               26.5              256             14.9
        Bir En Nar                Indicated               0.55              886              1.0
        (Mauritania)               Inferred               0.78              575              1.0
                                      Total               1.33              704              2.0
        Firawa                     Inferred               17.7              296             11.6
        (Guinea)                      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

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.

Contact Information

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