Fe : FEL Completes Placement

ASX Announcement

19 October 2016

Australian Securities Exchange Code: FEL

Ordinary Shares: 255,669,629

Unlisted Options: 3,850,000

Board of Directors: Tony Sage

Non-Executive Chairman

Mark Gwynne

Executive Director

Paul Kelly

Non-Executive Director

Eloise von Puttkammer

Company Secretary

Fe Limited Contact: Mark Gwynne Executive Director Tel: +61 8 6181 9793

Corporate Office:

32 Harrogate St, West Leederville, Western Australia 6007 Australia Telephone +61 8 6181 9793

Facsimile +61 8 9380 9666

Australian Enquiries: Professional Public Relations David Tasker

Tel: +61 8 9388 0944

Mob: +61 433 112 936

Email: david.tasker@ppr.com.au

Fe Limited is an Australian domiciled mineral resources exploration and development company.

Fe Limited

ABN: 31 112 731 638

The Directors of Fe Limited (Company)(ASX: FEL) are pleased to announce the Company has successfully completed a $750,000 placement of new shares to sophisticated investors.

The placement consists of 37,500,000 fully paid ordinary shares priced at A$0.02 per share (Placement Shares) made using the Company's existing 15% placement capacity under ASX Listing Rule 7.1 and will settle on 19 October 2016. The participants in the placement are entitled to be issued 1 free attaching option for every 4 Placement Shares (Placement Options). The Placement Options will be issued upon the Company obtaining shareholder approval at its upcoming annual general meeting (AGM). The notice of AGM will be despatched to shareholders shortly.

The Company will use proceeds from the placement on existing mineral projects, to assess and secure new mineral exploration projects and for working capital purposes. The Company will also seek to be reinstated on the ASX.

Director Appointment and Resignation

The Company has appointed Mr Nicholas Sage to the Board of Directors, as an independent Non-Executive Director, effective 18 October 2016.

Mr Nicholas Sage is an experienced marketing and communications professional with in excess of 25 years in various management and consulting roles. Mr Sage is based in Western Australia and currently consults to various companies and has held various management roles within Tourism Western Australia. Mr Sage also runs his own management consulting business.

Mr Paul Kelly has resigned as a Director effective immediately. The Company would like to thank Mr Kelly for his efforts and wishes him well in his future business activities.

The Appendix 3X for Mr Nicholas Sage and Appendix 3Z for Mr Paul Kelly are attached.

Yours faithfully FE LIMITED

Tony Sage

Non-Executive Chairman

felimited.com.au

Appendix 3X Initial Director's Interest Notice

Rule 3.19A.1

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Fe Limited

ABN 31 112 731 638

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number & class of securities

Nil

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest

Note: Provide details of the circumstances giving rise to the relevant interest.

N/A

Number & class of Securities

+ See chapter 19 for defined terms.

11/3/2002 Appendix 3X Page 1

Appendix 3X

Initial Director's Interest Notice

Part 3 - Director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Released to ASX - 19 October 2016

+ See chapter 19 for defined terms.

Appendix 3X Page 2 11/3/2002

Appendix 3Z Final Director's Interest Notice

Appendix 3Z

Final Director's Interest Notice

Rule 3.19A.3

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Fe Limited

ABN 31 112 731 638

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number & class of securities

Nil

+ See chapter 19 for defined terms.

11/3/2002 Appendix 3Z Page 1