Forte Energy NL
LSE : FTE

September 17, 2013 04:24 ET

Variation to Millenium Option Agreement

                                                                                   Forte Energy NL
                                                                                              
                                                                        ASX, AIM and Media Release
17 September 2013
                                                 


                        VARIATION TO MILLENIUM OPTION TO PURCHASE AGREEMENT

Forte Energy NL ("Forte Energy" or "the Company") (ASX/AIM: FTE) announces that it has agreed with
Elementos Ltd (ASX: ELT) to vary the terms of an Option To Purchase agreement in relation  to  its
Millenium mining leases in Queensland.

Under  the  revised  agreement, Forte Energy will receive $100,000 cash instead  of  the  previous
consideration  of $160,000 in cash or scrip. The terms were renegotiated in an effort  to  achieve
settlement  and  facilitate inclusion of the Millenium mining leases in a proposed  joint  venture
agreement for the Millenium Project announced today by Elementos Ltd.







For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                          Tel: +44 (0) 203 3849555

Stuart Laing
RFC Ambrian Ltd                          Tel: +61 (0) 8 9480 2506
(AIM Nominated Adviser to the Company)

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

Bobby Morse/Cornelia Browne
Buchanan                                 Tel: +44 (0) 207 466 5000







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 76.8Mt  @  266ppm  U3O8for  44.9Mlbs
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 (19.5Mlb 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              0.5              886                      1.0
                              Inferred              0.8              575                      1.0
Firawa                        Inferred             30.3              295                     19.5
Total                        Indicated              0.5              886                      1.0
                              Inferred             76.3              262                     43.9
                                 Total             76.8              266                     44.9

        * A238NW Anomaly included in the A238 Inferred Resources
    
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 the reporting of Mineral Resources  is  based  on
information compiled by Mr. Galen White, who is a Fellow of the Australasian Institute  of  Mining
and  Metallurgy (FAusIMM). Mr White is the Principal Geologist of CSA Global (UK) Ltd. CSA  Global
have  an  on-going  role as geological consultants to Forte Energy NL. Mr.  White  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. White consents to the inclusion in this  report  of  the
matters based on his information in the form and context in which it appears.

Contact Information

  • Forte Energy NL