litigation chm, page-5

ASX ANNOUNCEMENT ASX CODE: MMX





CHAMELEON LITIGATION



Murchison Metals advises that Court-ordered mediation between the parties took place in Sydney
yesterday (8 September) and concluded without resolution of the matter.

In the circumstances, Chameleon is today required to lodge a further amount of $450,000 as
security for costs. This takes the total amount of security that the Court has ordered Chameleon to
provide to all parties to date to $1,380,000.

A further directions hearing is scheduled for 12 September at which time Murchison will seek
orders programming the matter for trial.

Having reviewed the evidence of all parties, Murchison remains confident that there is no
sustainable basis for Chameleon's claim for a material interest in the Jack Hills or Weld Range
tenements and/or Murchison's shares in Crosslands Resources Ltd.


- ENDS -



For further information, please contact:


Paul Kopejtka
Executive Chairman
Murchison Metals Ltd
+61 8 9492 2600
John McGlue
Director
Porter Novelli
+61 8 9386 1233
+61 417 926 915