Ann: Wilcherry Hill Project Feasibility Update , page-30

re: Ann: Wilcherry Hill Project Feasibility U... Key points:
1. With the successful DSO export programme in operation IronClad?s Wilcherry Hill Project will be only the second iron ore mine worldwide to supply direct shipping grade magnetite iron ore for export.
2. An exceptionally low capital start up, Stage One (DSO) Capital only AUD $12 ? $19 Million. Sufficient infrastructure exists;
3. Near term production, Site work is currently underway, Production from Wilcherry Hill is scheduled to commence in the first half of 2011.
4. JORC RESOURCE WILCHERRY HILL 69MT, target (600 ? 700 Mt) & HERCULES resource 215MT, target (1 -1.5BT);