Go ADY you iron ore stock pile with more to follow..$$$$$ to...

Go ADY you iron ore stock pile with more to follow..$$$$$ to come

The Board of Directors are pleased to announce that the President of Vallenar Iron
Company Robert Michael Clarke has confirmed that the name of its Chilean Joint Venture Company has changed. The change was appropriate to reflect the location
and nature of the business and to signal to our customers the changes that have taken place.

There is currently 52,500 tonnes of iron ore stockpiled at the port ready to be shipped.

The Chinese national holidays finish this week and arrangements will be made to sell and ship the iron ore.

We expect a further shipment will be ready in early November
2008