• Strategic acquisition of Weld Range Iron Ore Projects expands regional land package
• Includes near mine opportunities for discovery of new high-grade iron ore
• New tenements provide logical opportunities for resource expansion near existing operations

Fenix Resources Limited (ASX: FEX) has announced the acquisition of two new tenements in the Weld Range, including the historic Beebynganna Hills Iron Ore Project and a new exploration tenement to the north of Beebyn-W11. The new near-mine exploration assets expand Fenix's strategic holdings in the region and provide additional opportunities to identify high-grade satellite iron ore deposits with access to the existing infrastructure at Iron Ridge and Beebyn-W11. The Beebynganna Hills Iron Ore Project was previously explored by Giralia Resources NL, which identified hematite grading up to 65% Fe located only ~18km from Iron Ridge and ~13 km to Beebyn-W11. The Beebyn North exploration tenement application secures a strategic position at the northeast end of the Weld Range located ~14 km from Beebyn-W11. Fenix has commenced a regional evaluation of historic exploration work on the expanded Weld Range exploration portfolio and plans an exploration drilling program in 2025 aimed at resource definition.

Fenix expects to increase annualised production from 1.3 million tonnes to 4 million tonnes in 2025 and has confidence its excellent regional infrastructure has significant capacity to support further growth. The company is committed to unlocking the full potential of the region's iron ore assets for the benefit of all stakeholders.