Fe : Kasombo Drilling Results Update

1 February 2018

Australian Securities Exchange Code: FEL

Ordinary Shares:

366,815,463

Unlisted Options:

4,062,500

Board of Directors: Tony Sage Non-Executive Chairman

Kenneth Keogh Non-Executive Director

Nicholas Sage Non-Executive Director

Contact:www.felimited.com.au

32 Harrogate St, West Leederville Western Australia 6007 Australia Telephone +61 8 6181 9793 Emailinfo@felimited.com.au

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

Fe Limited

ABN: 31 112 731 638

Update on Drilling Results at KasomboCopper-Cobalt Project in DRC

On 8 January 2018, Fe Limited (Company) (ASX: FEL) announced that it had completed preliminary reverse circulation (RC) drilling at two prospects at its Kasombo Copper-Cobalt Project (Kasombo Project) located in the Democratic Republic of Congo (DRC).

The Kasombo Project comprises three mineralised areas of approximately 600 hectares, Kasombo 5, 6 and 7, located within two granted mining licenses PE 481 and PE 4886 held by La Generale Des Carrieres Et Des Mines S.A. (Gecamines) and situated approximately 25 km from the DRC's second largest city, Lubumbashi, in the Katanga Copper Belt (KCB).

Kasombo 5, highly prospective for copper and lesser cobalt was drilled with two RC holes for a total depth of 149 m, while Kasombo 7, highly prospective for cobalt and lesser copper, was drilled with four RC holes for a total depth of 190 m.

The Company wishes to advise that due to delays in sending the prepared samples from the ALS Laboratory in Lubumbashi to their Johannesburg laboratory for assay, that the first assay results from the drilling and other sampling are now not expected until mid-February 2018. The assay results from the samples lodged late in December 2017 are not expected until late February 2018.

Yours faithfully FE LIMITED

Tony Sage Non-Executive Chairman

felimited.com.au