ASX ANNOUNCEMENT ASX CODE: MMX 23 September 2008 CHAMELEON LITIGATION UPDATE Murchison Metals Ltd (“Murchison”) is pleased to provide an update on the litigation commenced by Chameleon Mining NL (“Chameleon”) against Murchison, Crosslands Resources Ltd (in which Murchison has a 50% interest) and several other parties. At a directions hearing in the Federal Court on 18 September 2008, orders to the following effect were made: • Chameleon has until 10 October 2008 to file lay evidence in reply to evidence filed by Murchison and the other respondents; • Chameleon is to provide the second tranche of security for costs for Murchison and Crosslands, in an amount of $300,000, by 10 October. • Chameleon must provide the second tranche of security for costs for the third and fifth respondents (Barnes and Pinnacle) in an amount of $150,000 by 25 September. • Discovery and inspection of documents is to be completed by 14 November. The next directions hearing has been scheduled for 6 November. The Court indicated that it hopes to be in a position to set a trial date at that time. Murchison is pleased with the outcome of the directions hearing and that the matter is moving expeditiously towards a hearing. 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: Chris Foley Company Secretary/Legal Counsel Murchison Metals Ltd +61 8 9492 2600 John McGlue Director Porter Novelli +61 8 9386 1233 +61 417 926 915
MMX Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
