Western Australian Iron Ore Development OpportunitySend...

Western Australian Iron Ore Development Opportunity

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• Iron ore opportunity in a favourable jurisdiction with +90Mt Resource package of hematite rich alluvials.
• Metallurgical testwork at Steeple Hill demonstrates the ability to generate an 18% recovery (17Mt) of iron concentrate product grading 58% Fe, 6-7% SiO2, 5-6% Al203, <0.02% P and 1.6% LOI.
• Various completed preliminary development studies, close to infrastructure, with a multi-user railway line 25km away leading to the Port of Esperance.
• Potential for other credits including 0.2% (4 pounds per tonne of hematite) Vanadium Oxide (V2O5).
• Exploration upside with the potential to expand the existing resource base.

Fairstar Resources Limited (Receivers and Managers Appointed)/(Court Appointed Receivers and Managers) (Fairstar or the Company) has appointed PCF Capital Group (PCF) to seek indicative offers for the acquisition, or such other arrangement to the satisfaction of the Company, of the Steeple Hill Iron Project (Steeple Hill or the Project). The Project is located 85km east of Kalgoorlie in Western Australia, and comprises Exploration Licence E28/1997-I and Mining Lease M28/373-I (the Tenements), covering approximately 125km2.