positive sp movment after ann, page-3

Further assays received from initial iron ore drilling of main southern hill at Mt Webber. More thick high grade low alumina intersections;

o Hole RCDW028; 52m @ 59.2% Fe, 1.2% Al2O3 from 14 metres depth, and

20m @ 58.4% Fe, 0.4% Al2O3 from 84 metres depth

o Hole RCDW029; 34m @ 60.5% Fe, 1.0% Al2O3 from surface

o Hole RCDW032; 38m @ 58.6% Fe, 1.5% Al2O3 from 10 metres depth

• Hematite-Goethite mineralisation interpreted as a flat lying enrichment zone capping the main southern hill, 400 to 500 metres wide, 450 to 700 metres long with thicknesses 30 to 70 metres.

• Mineralisation starts at or close to surface on top of large hill so very minor pre strip and waste mining required.

• Initial resource estimate and Scoping Study to be commissioned on receipt assay results for remaining 5 holes.

• Project located only 150 kilometres south of Port Hedland, potentially close enough for trucking operation to port, and also close to existing rail.