MARILLANA

Brockman Resources announced that the Company received formal approval from the Western Australian Environmental Protection Authority (EPA) for the Project’s Environmental Scoping Document.

Brockman Resources announce the positive outcomes of the Pre-Feasibility Study (“PFS”) on the Marillana Iron Ore Project in the Pilbara region of Western Australia. The Pre-Feasibility Study found that the Net Present Value (“NPV”) of the Marillana Project ranges from A$1.4 billion to A$1.64 billion using an 8% real discount rate, with Internal Rates of Return (“IRR”) ranging from 19.5% to 25.1% and capital paybacks ranging from 5 to 6 years. Upfront capital costs are forecast to range from A$705 million to A$1.35 billion depending on different logistical, development and ore transportation options. These are based on a nominal production rate of 17 million tonnes per annum (“Mtpa”).

Brockman Resources reported a 74% increase in the Indicated Mineral Resources for its 100%-owned Marillana Iron Ore project in the Pilbara of Western Australia. The total Indicated Mineral Resource has now increased to 605 million tonnes, comprising 551million tonnes of beneficiation feed hematite detrital mineralisation (59-60% Fe grade after beneficiation*) and 54.2 million tonnes of Direct Shipping Ore (DSO) quality CID (Channel Iron Deposit) mineralisation (57.4% Fe grade). The company is currently completing a Pre-Feasibility Study on the construction of a 15 Mtpa iron ore mining and processing operation at Marillana, commencing production in 2012 and subsequently expanding to 25 Mtpa in 2015.