Ann: Initial JORC Iron Ore Resource for Anthiby W, page-4

re: Ann: Initial JORC Iron Ore Resource for A... Actual good results – its CID (channel iron deposit) mineralisation – similar to the old Robe River. I think you mistake it for DSO hematite mineralisation. Usually this stuff can be beneficiated quite easily – semi consolidated so it can be mined relatively easily. Layers of limonite-goethite and hematite are deposited on fragments of hematite gravel at surface in a laterite profile as part of the weathering process of the source banded iron formation. The process of lateritisation forms round pisolite nodules which are washed into alluvial channels and stranded. The pisolites are transported downstream and accumulate as gravels. The gravels are cemented via a variety of agents, usually a mixture of limonite, clays, carbonate minerals and occasionally silica. This process may form an in-situ concenrations of pisolites which may be very resistant to erosion - some mesas in the Pilbara, and Yilgarn are in fact old cemented ferruginous pisolite river gravels.

The major source in the Pilbara is the Marra Mamba Formation

Quite good new really, considering the initial disappointment (drill results) with Earaheedy (I have noticed they no longer talk about the billion tonne target).

I wonder if people will realise it – and the massive discrepancy with the market capitalisation of Giralia when compared to something like AGO and their reported tonnage? Although the advantage is that they are in production, although only several million tonnes per annum.

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Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.

o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including

o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)

• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.

• The resource is near surface; within ~40 metres of natural land surface.

• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.

Giralia’s Anthiby Well iron ore project is a new discovery of channel iron (CID) mineralisation confirmed by an 87 hole drilling program completed in December 2008. The Mineral Resource comprises mesas of pisolitic iron ore mineralisation. The mineralisation commences at or very near the natural land surface, to a maximum depth of approximately 40 metres. Better drilling intersections include; 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.