atlas mentioned in t/o " substantial tenements

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Dynasty Metals updates on Prairie Downs Iron Project
Tuesday, 01 Feb 2011

Iron ore company Dynasty Metals Australia Limited has announced positive results from processing test work recently completed on an initial bulk sample from the Company's Prairie Downs Iron Project, which clearly indicates that a large portion of the higher grade ore is fully recoverable at DSO grades. In addition the Company details its near term exploration plans.

Dynasty has a large undeveloped and contiguous deposit strategically located in the Pilbara region of Western Australia which comprises a global Inferred Resource of 1.4 billion tonnes at 23.5% Fe that includes 932 million tonnes at 27.4% Fe.

Mr Malcolm Carson technical director of Dynasty Metals said that "Recent test work has continued to indicate that the Prairie Downs Ironstone Deposit can be upgraded to DSO grades via simple, low cost processing. This has triggered further evaluation and exploration work as the potential of these vast detrital ironstone deposits is becoming more widely apparent. Iron ore companies are advancing similar projects and recent mergers have resulted in larger land holdings, consolidating the ownership of stranded deposits and increasing the likelihood for significant discoveries."

He added that "A recent example is the takeover of Giralia Resources by Atlas Iron. Following this transaction, Atlas Iron will have substantial tenements immediately to the east and south of our flagship Prairie Downs Iron Project. At Prairie Downs, Dynasty has a vast portfolio of tenements strategically located in the south-southeast Pilbara in close proximity to some of the world's largest iron ore mining operations and in an area ear marked by major companies as very prospective for large iron deposits. Dynasty's remarkably low-cost exploration program has already identified one massive channel ironstone gravel deposit in a very short time frame. Any project developed on these near surface ironstone gravels is likely to have relatively low mining costs and therefore the potential to be very profitable."

Bulk samples on this iron mineralization were collected during 2010 and processing test work is well underway. Four bulk samples each comprising 5 to 7 tonnes were collected using a Sonic drill rig and three representative samples, have been submitted for test work. An additional, 10 tonne sample was also collected and remains in the field for collection.

Preliminary processing test work was recently completed on one tonne of the 6.5 tonne Area 3 sample which was considered representative of the ironstone gravel resource. The test-work undertaken on this material was designed to determine the iron contents of various size fractions.