Sale of Extension Hill assets

• Fenix has agreed to transfer to Terra Mining and Extension Hill Pty Ltd all of the residual Extension Hill assets, liabilities, rights and obligations for consideration of up to $2 million. • Consideration to be received by Fenix as follows: o $250,000 payable on the earlier of one month after the first shipment of ore from the Extension Hill Magnetite Project and 12 months after completion; and