Press Releases

Sydney, Mar 26, 2010 (ABN Newswire) - Magnetic Resources NL ((ASX:MAU) is an Australia-based company. During the fiscal year ended June 30, 2008 (fiscal 2008), the principal activities of the Company were the exploration of mineral tenements in Western Australia. The Company was incorporated to explore for mineral resources on the package of tenements prospective for gold, nickel and uranium and covering some 6,704 square kilometers of unexplored or underexplored targets, which includes 330 kilometers of interpreted, under-explored greenstone belts. The operations of the Company include Dragon Rocks, Mt Vernon, Dampling Spring, Koonadgin, Rock Dam Hill, Nungarin, Harris, Tampia North and Binti Bore.

About George Sakalidis, Managing Director

Mr Sakalidis is an exploration geophysicist with over twenty years experience during which time his career has included extensive gold, diamond, base metal and mineral sand exploration. He, with others, has compiled one of the largest aeromagnetic databases in Australia, which is now held by Image Resources. Using this database, Mr Sakalidis has been involved in a number of discoveries including gold discoveries, such as the Three Rivers deposit and the Rose deposit in Western Australia. Mr Sakalidis was instrumental in the acquisition of the Image Resources exploration tenements and the design and interpretation of the magnetic surveys that led to the discovery of the large mineral sands resources at Magnetic Mineral's Dongara Project. Mr Sakalidis a director of Meteoric Resources NL, and was a founding director of Magnetic Minerals Limited and was previously a director of North Star Resources NL.

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