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TRADITIONAL OWNERS APPROVE REBIRTH
OF HISTORIC KOOLAN ISLAND IRON ORE PROJECT

Koolan Island, one of Australia’s most historic iron ore mines, is set for a rebirth
following the successful completion of a co-existence agreement between mining
company Aztec Resources Limited (ASX:AZR) and the Dambimangari (Dambima-
Ngardi) people.

The Dambima-Ngardi people, the Native Tile Claimants to Koolan Island, and the
Board of Aztec Resources Limited today held a signing ceremony to mark the signing
of the Koolan Island Co-existence Deed.
Attended by 50 traditional owners, the Hon. Sheila McHale, MLA, Minister for
Indigenous Affairs, local member Carol Martin MLA, Aztec representatives, the
Kimberley Land Council, and guests, the signing ceremony was held on Koolan
Island, 130 kms north of Derby.

The agreement has been negotiated by the Dambima-Ngardi people and Aztec
representatives over a very short timeframe. The traditional owners were
represented in the negotiations by their Native Title Representative Body, the
Kimberley Land Council.
The agreement allows Aztec to proceed to construction to meet its goal of shipping
the first ore by the end of this year.

The agreement will provide a range of outcomes for the traditional owners, including
employment and new business opportunities.
Dambima-Ngardi spokesperson Janet Oobagooma said Aztec’s commitment to
training and employment opportunities for indigenous people from the Derby region
was a key point in successfully concluding the negotiations.
“Working in partnership with Aztec, the Dambima-Ngardi people aim to have 30 per
cent of the 220 person workforce filled by indigenous people by the eighth year of
operation.

We are confident that this goal can be achieved, following the trust that
we have built with Aztec over the past two years,” said Ms Oobagooma.
Kimberley Land Council
“I congratulate Aztec Resources for the way the agreement was negotiated. We have
had open talks and many meetings with Aztec Chairman Ian Burston and company
representatives. I also want to thank the Kimberley Land Council for their
assistance.”
The Kimberley Land Council said the positive approach from all parties was an
important factor in ensuring the agreement was reached within a limited timeframe.

“This is a positive outcome, one we’re proud of, conducted in the spirit of open and
honest negotiation,” said Ian Burston Chairman of Aztec Resources.
“Aztec’s commitment to the Koolan Island Co-existence Deed is a whole-of-company
approach, and will extend to contractors involved in the rebirth of the Koolan Island
Iron Ore Mine.

“We welcome this agreement and look forward to building our relationship with the
traditional owners and other indigenous people in Derby and the surrounding region.
“In a tight labour market, it’s important for industry and Government to work
together to improve the skills of local people, rather than simply looking offshore to
fill these positions.

“Aztec will quickly turn its focus to commencing the piling of the jetty and work
towards building a camp to allow construction to commence as a matter of priority,”
Mr Burston concluded.

The first of three shipments of piling material for the product delivery jetty is due on
Koolan Island by the end of April.
- ENDS -
About the Dambima-Ngardi People
The Dambima-Ngardi people, together with people from the adjacent Wanjina Wunggurr
Wilinggin and Wanjina Wunggurr Uunguu groups, share a single distinctive body of law and
customs based on the belief systems of the Wanjina and the Wunggurr. The Wanjina and
Gwion Gwion (sometimes called Bradshaw) rock paintings throughout the region are part of
this system, which governs the relationships of people to country and to each other.

The
Wanjina paintings are said to be the ancestors of the living people.
Although at times displaced from their traditional lands, Dambima-Ngardi people continue
to renew the Wanjina spirit through artworks produced for themselves and for the wider
world (such as the Wanjina image created by Dambima-Ngardi elder Donny Woolagoodja
for the 2000 Sydney Olympics).

There are more then two hundred people in the Dambima-Ngardi community, including a
mix of old and young. Many were displaced from their Traditional lands to Derby and
nearby Mowanjum in the early parts of last century, partly through missionary efforts to
‘civilize’ them. Yet they have maintained strong links to their traditional country and
practices.

About Aztec Resources Limited

Aztec (ASX: AZR) is the owner of the Koolan Island high quality iron ore project which has a
resource of 53 million tonnes. In August 2005, Aztec announced the successful completion of
a Bankable Feasibility Study. Capital costs of A$108 million, inclusive of mine development
costs support a forecast annual production of approximately 4 million tonnes per annum and
Memoranda of Understanding account for total sales of 4 million tonnes per annum, for the
current mine life of initial nine years with ongoing exploration drilling expected to provide
potential upside for the project.

In 2000, Aztec was granted an exploration lease of the previously BHP-owned and operated
Koolan Island project, located 130 kilometres north of Derby off the West Australian
Kimberley coast. Koolan Island has remnant resources and previously produced 68 million
tonnes of high grade (Fe @ 67%) and low impurity iron ore.
Visit: www.aztecresources.com.au
Editor’s note: Photographs and footage of the signing ceremony are
available upon request.

For further information, please contact:

Joe Fox
Community Relations Officer
Kimberley Land Council

+61 (0) 8 9193 6199
0417 901 722
[email protected] www.klc.org.au

Ian Burston Warrick Hazeldine
Chairman - Aztec Resources Purple Communications

+61 (0) 8 9423 0800 0417 944 616
+61 (0) 8 9485 1254
[email protected]

T10 :)))