Fe : Key Management Appointment for Cobalt Joint Venture

5 February 2018

Key Management Appointment for

Australian Securities Exchange Code: FEL

Cobalt Joint Venture

Ordinary Shares:

366,815,463

Fe Limited (Company) (ASX: FEL) is pleased to confirm the appointment of the highly experienced industry executive, Mr Philippe Bouchart, as the General Manager of the Company's Kasombo Copper-Cobalt Project (Kasombo Project)

Unlisted Options:

located in the Democratic Republic of Congo (DRC).

4,062,500

Board of Directors: Tony Sage Non-Executive Chairman

Kenneth Keogh Non-Executive Director

The Kasombo Project comprises three mineralized 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 25km from the DRC's second largest city, Lubumbashi, in the Katanga Copper Belt.

Nicholas Sage Non-Executive Director

Mr Bouchart, is an internationally experienced mining and metallurgy industry executive with 26 years production and general management work and with over 15 years in the DRC.

Over the past 15 years in the DRC, Mt Bouchart has been Production Manager and General Manager of Societe d'exploitation du terril de Lubumbashi for the Forrest Group (in JV with Gecamines and OMG) responsible for the copper, cobalt and zinc production streams, Project Leader for Forrest Group in DRC and Belgium with responsibility over the Copper-Cobalt hydrometallurgical plant, copper cathode and cobalt production and working with Chinese EPCM groups and Korean off take partners. In additiona he held the role of General Manager of ASX listed Tiger Resources, Kipoi Project in 2011-2012, and was also General Manager of Hong Kong listed, MMG Kinsevere operation when MMG commence the acquisition of several copper and cobalt operations in the DRC in 2012/2013.

Contact:www.felimited.com.au

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

In his most recent DRC role, Mr Bouchart was GM Group West DRC for the RPM/Metalkol Cobalt Project. Which is ENRC's flag ship project in the DRC. Mr Bouchart had overall responsibility for the completion of a hydrometallurgical copper/cobalt plant designed to treat over 100 million tonnes of copper-cobalt tailings in Kolwezi.

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

Fe Limited

ABN: 31 112 731 638

Commenting on the appointment of Mr Bouchart, FEL's Chairman Tony Sage said "This is a key appointment for the Company as we advance our cobalt interests in the DRC. Mr Bouchart brings an incredible amount of experience to the role and has worked for over 15 years in the DRC on cobalt projects and on constructing and optimising metallurgical plants to maximise cobalt recoveries and returns. I look forward to seeing the progress Mr Bouchart makes and in developing the Kasombo Project".

Mr Bouchart commences his employment with the Company on 1 March 2018.

Yours faithfully

FE LIMITED

Tony Sage Non-Executive Chairman

felimited.com.au