BLYTHE

Re-sampling of the recent drilling at the Kara North Prospect has confirmed the presence of significant tin mineralisation associated with previously identified magnetite beds. Red River and Iron Mountain undertook a screening survey of reverse circulation (RC) drill cuttings from the Kara North Prospect with a Niton XRF field analyser during January 2009. As a consequence, over 570 additional samples were submitted for XRF analysis to re-test for tin and iron. Resultant assays have substantially increased the number of >0.1% Sn intersections encountered at Kara North including 41m @ 0.22% Sn in drill hole KNRC 036 and 51m @ 0.15% Sn in KNRC 021.

Red River Resources Limited announce drill results from the Kara North Tin Prospect south of the port of Burnie in northern Tasmania. The company carried out a screening survey of RC cuttings from the Kara North Prospect, utilising a Niton XRF field analyser, during January 2009. As a consequence, over 570 new samples were submitted for XRF analysis for tin and iron. The laboratory results have substantially increased the number of +0.1% Sn intersections encountered by the Kara North drilling and include 41m @ 0.22% Sn in drill hole KNRC 036 as well as 51m @ 0.15% Sn in KNRC 021.

Iron Mountain Mining Limited announce that re-sampling of the recent drilling at the Kara North Prospect has confirmed the presence of significant tin mineralisation associated with previously identified magnetite beds at the company’s Blythe Project in northern Tasmania. Iron Mountain reported widespread intersections of >0.1% tin including 41m @ 0.22% Sn (KNRC 036) and 51m @ 0.15% Sn (KNRC 021). A close spatial association between tin and magnetite iron ore mineralisation is noted. Magnetite-tin mineralisation has been delineated over a length of 900m and up to 400m in width. Iron Mountain Mining Limited, in collaboration with 50:50 Joint Venture partner Red River Resources Limited, undertook a screening survey of reverse circulation (RC) drill cuttings from the Kara North Prospect with a Niton XRF field analyser during January 2009. As a consequence, over 570 additional samples were submitted for XRF analysis to re-test for tin and iron.