corunna downs announcement, page-2

Atlas iron are impressed......just think about the royalties heading our way....


# Gondwana retains a royalty of $1.13 per tonne for all iron ore sold;

# Gondwana retains a royalty of 1.5% of the gross proceeds of sale of other minerals;

# Gondwana will receive a fee of $0.20 per tonne in excess of 2 billion tonnes of independently verified JORC compliant iron ore reserves in respect of the tenements as published by Atlas immediately prior to Atlas making a decision to commence first commercial mining on the tenements; and

# Atlas has assumed obligations to Adelaide Prospecting Pty Ltd in respect of Adelaide’s free-carried 10% interest in the tenements.