ABN Newswire http://www.abnnewswire.net Sun, 26 May 2013 00:54:27 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Western Mining Limited (ASX:WMN) Successful Completion of Due Diligence on Persada Tenement ]]> en75198 Y http://www.abnnewswire.net/press/en/75198/ Thu, 16 May 2013 09:54:00 GMT The Board of Western Mining Network Limited (ASX:WMN) is pleased to announce that the due diligence work on PT. Persada Bumi Rawas ("PT. PBR") and its 100% interest in IUP Exploration No. 540/307.19/Distamben dated 12 August 2009 ("Persada Tenement") has been completed.

WMN has informed PT. PBR that it will proceed with the transaction under the Master Agreement announced to ASX on 15 April 2013.

The Share Subscription Agreement to acquire 80% of the issued shares in PT. PBR which directly holds a 100% interest in the Persada Tenement is currently being finalised and will be executed in due course.

An exploration report on the Persada Tenement is attached. The Company plans to focus on two blocks that have indicated potential gold anomalies.

To view the Persada Project Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WMN-635765.pdf

Western Mining Limited
T: +61-8-9421-7777
WWW: www.westernmining.net

]]> newsroom@abnnewswire.net <![CDATA[ NSW Miner-Explorers Presentations in Sydney - Next Wednesday 15th May, 2013 ]]> en75174 Y http://www.abnnewswire.net/press/en/75174/ Thu, 9 May 2013 17:40:48 GMT NSW Trade & Investment invites you to the NSW Mineral Explorers Presentation, Wednesday 15 May 2012 at the New South Wales Trade & Investment Centre, Sydney.

The May 2013 Miners-Explorers Presentation showcases four explorers, companies whose NSW projects have been selected for their high growth potential and investment readiness.

Presenters will deliver the latest news on their projects, and outline their prospects for development with the timely backing of the right financial partners and funding.

The May 2013 Presentation is an opportunity for resources sector focused investors and intermediaries to hear the explorers' presentations and directly discuss with them their projects at length; to make connections that enable them to invest in a current project, or to develop key contacts for future prospects.

The NSW Miners-Explorers Presentation brings together both miner-explorers and investors with the aim of generating key new strategic investment and partnerships and new economic growth in New South Wales, stemming from the opportunities the resource sector offers.

Explorers at the 15 May presentations include:

Ausmon Resources Limited (ASX:AOA) Pieter Moeskops, Project Manager
Platina Resources Limited (ASX:PGM) Robert Mosig, CEO Managing Director
White Rock Minerals Limited (ASX:WRM) Geoffrey Lowe, Managing Director
Carpentaria Exploration Limited (ASX:CAP): Nick Sheard, Executive Chairman

NSW Trade & Investment, through its Resources and Energy Investment Unit, is proud to provide this occasion to promote a vital State industry sector and to assist in promoting future activity in a key export segment of the New South Wales economy.
We look forward to receiving your response and registration for the 15 May presentation event.

To register, or for inquiries please contact
Wayne Sonter
Manager, Investment, Division of Resources & Energy
NSW Trade & Investment
Tel: 02 8281 7364,
Email: Wayne.Sonter@industry.nsw.gov.au,
W: http://www.industry.nsw.gov.au

Wayne Sonter 
Manager, Investment, Division of Resources & Energy
NSW Trade & Investment
Tel:  02 8281 7364,  
Email: Wayne.Sonter@industry.nsw.gov.au,  
W: www.industry.nsw.gov.au

]]> newsroom@abnnewswire.net <![CDATA[ Western Mining Limited (ASX:WMN) Signs MOU to Explore Thermal Coal Tenements ]]> en75116 Y http://www.abnnewswire.net/press/en/75116/ Tue, 30 Apr 2013 13:38:01 GMT The Board of Western Mining Limited (ASX:WMN) is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") whereby WMN has the exclusive right to explore and if warranted mine, potentially high calorific value thermal coal tenements in South Kalimantan which are 100% owned by PT. Pancareka Utama Engineering ("PUE").

On 30 April 2013, WMN signed a MOU to conduct due diligence and detailed exploration for a period of 90 days on PUE's Exploration Licences:

- IUP No. 545/011/IUP-E/D.PE/2010 issued by the Regent of Tanah Bumbu, with a total area of 5,149 hectares ("ha"), for a period of 7 years, ending 25 January 2017; and
- 545/017/IUP-E/D.PE/2010 issued by the Regent of Tanah Bumbu, with a total area of 398.8 ha, for a period of 7 years, ending 26 January 2017.

Within Exploration License IUP No. 545/011/IUP-E/D.PE/2010, PUE is currently producing thermal coal under Production Licence IUP No. 188.45/467/DISTAMBEN/2012, which has a total area of 198.3 ha. The allocated area which WMN has the right to explore and if warranted mine is adjacent to but does not include this existing Production area.

PUE is currently producing approximately 15,000 tonnes of thermal coal per month and targeting to reach approximately 30,000 tonnes per month on Production License IUP No. 188.45/467/DISTAMBEN/2012 with typical coal specifications based on production to date as follows:

CV (adb) 6,957 Kcal/kg, Total Moisture 7.7%, Inherent Moisture 4.8%, Sulphur 0.75%, Ash 11%, Fixed Carbon 41.7% and Volatile Matter 42%.

Should the Company and PUE be satisfied with the results from the detailed exploration, PUE shall upgrade the IUP Exploration Licences to IUP Production Licences and both WMN and PUE shall execute the Joint Production and Coal Sale Agreement.

WMN's Executive Chairman Christopher J. Clower said "This MOU with PUE is another major step forward for the Company and is a progression of the Company's strategy to obtain exposure to highly prospective and scalable coal projects. We are excited to have secured an area with significant exploration upside adjacent to an existing mining operation which offers the potential for rapid commencement of mining with no forestry or infrastructure issues."

KEY TRANSACTION HIGHLIGHTS

Exploration IUP's are next to an Operating Mine with Open Pit mining approach:

- Availability of geological data and drilling results in the operating mine provide excellent guidelines for exploration in the larger area of the Exploration IUP's High coal quality potential and Clean and Clear Status:
- Demonstrated high coal quality and specifications on PUE's existing Production IUP
- PUE's tenements hold exploration and/or production licences which are all on the Clean and Clear List

Accessible Logistics and Shipment Route:

- Existing haulage road, river jetty and barging operation to the off-take mother vessel
- The area has simple logistics and transportation needs, requiring 60 - 65 km road hauling on an existing haulage road, followed by short barging to the Anchorage point as well as easy accessibility for exploration and operations
- The Batulicin Project comprises the adjacent mining business areas located approximately 260 km southwest in a direct line from Banjarmasin in the province of South Kalimantan,

Borneo Island

Favourable deal structure:

- Under the deal structure, WMN will pay no upfront consideration
- WMN has 90 days sole exclusivity and the rights to conduct detailed exploration and due diligence to decide whether the tenements are attractive and have coal resources and reserves potential
- Pay per tonne of coal produced aligns the risks and rewards with favorable back-ended profit sharing approach

PROJECT AREA INFORMATION

The PUE tenements are located in Tanah Bumbu Regency, South Kalimantan, Indonesia approximately 70km west from Batulicin, the capital of Tanah Bumbu Regency. The distance from Banjarmasin to Batulicin can be travelled by light vehicle in around 5-6 hours and from Batulicin to the concessions in around 2 hours.

The area is free of protected forest restrictions, with all the concession area falling within the category of production forest.

To view diagrams and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WMN-633708.pdf

Western Mining Limited
T: +61-8-9421-7777
WWW: www.westernmining.net

]]> newsroom@abnnewswire.net <![CDATA[ Western Mining Limited (ASX:WMN) Quarterly Activities Report ]]> en75110 Y http://www.abnnewswire.net/press/en/75110/ Tue, 30 Apr 2013 12:58:02 GMT Western Mining Limited (ASX:WMN) announce the March 2013 Quarterly Activities Report including the Genesis Manganese project and the Penajam Paser Utara project.

Genesis Manganese Project - WMN holds 51% ownership During the quarter, Western Mining Network Limited (WMN or Company) exercised its Option to acquire 51% of PT. Genesis Berkat Utama (PT. GBU), which holds the Genesis Project.

The 51% acquisition was executed through the issue of new shares in PT. Genesis Berkat Utama, with the consideration for the subscription totalling 104,100,000 Rupiah (AUD$10,410).

Subsequent to the end of quarter, WMN finalised the incorporation of a wholly-owned Indonesia subsidiary with foreign investment status (PMA) which directly holds the 51% of shares in PT. GBU.

Since the option was acquired by WMN in March 2012, PT. GBU has obtained a "clean and clear" certificate for its IUP production license and also completed all relevant environmental studies. As previously announced, a number of manganese boulders have been found on the tenement with results from five rock chip samples ranging from 41.4% to 55.3% Mn. A geomagnetic survey over 490 hectares of the tenement was carried out to identify a number of anomalies for follow up work.

During the quarter, the Company evaluated future plans for the tenement based on the environmental impact study and continued its community relations campaign in Toli-Toli, Sulawesi where the Genesis Project is located.

Penajam Paser Utara Project

As announced on 15 November 2012, WMN entered into a Master Agreement to acquire up to 100% of four thermal coal tenements with a combined area of 5,000 hectares in Penajam Paser Utara, East Kalimantan (Penajam Paser Utara Project), subject to due diligence.

During the quarter, WMN completed its due diligence on the Penajam Paser Utara Project and decided not to pursue the transaction under the Master Agreement. The Company concluded that the potential coal in the project area did not justify further exploration work.

Under the Master Agreement, WMN were not required to pay any consideration to conduct due diligence on the Penajam Paser Utara Project.

Persada Tenement

Subsequent to March 2013 quarter, WMN entered into an exclusive Master Agreement to ultimately own 80% of the shares of PT. Persada Bumi Rawas (a company registered in Indonesia), which directly holds a 100% interest in IUP Exploration No. 540/307.19/Distamben dated 12 August 2009 and issued by Regent of Buol (Persada Tenement), subject to due diligence.

The Persada Tenement holds clean and clear status with 8 years tenure expiring on 12 August 2016, covers an area of 5,000 hectares in the Buol region of Central Sulawesi, Indonesia and is considered to be prospective for gold.

WMN has exclusive rights to explore and conduct due diligence for a period of 30 days. Over this period, WMN intends to implement an initial exploration program that includes follow-up stream sediment sampling of the two gold anomalies and a comprehensive stream sediments mapping exercise to identify the areas with the highest potential.

If WMN decide to pursue the transaction after completion of the due diligence, both WMN and the shareholders of PT. Persada Bumi Rawas shall execute the Share Subscription Agreement ("SSA"), which will govern the final terms and conditions of this transaction. The consideration of the proposed transaction is US$500,000 payable in three stages:

- US$100,000 upon the execution of the Master Agreement;
- US$300,000 upon the execution of the SSA; and
- US$100,000 not later than 30 days from the execution of the SSA.

Exercise of Director Options

On 27 February 2012, WMN announced that Executive Chairman Christopher Clower paid $150,000 to exercise his entire tranche of 500,000 Director Options due to expire on 4 March 2013 into fully paid ordinary shares at an exercise price of $0.30 per share.

Appointment of Executive Director

As part of a move consistent with taking WMN to the next level, WMN announced that Paulus Irawan moved from Non-Executive Director to Executive Director of WMN effective 19 January 2013, replacing Mr Colin Locke.

Project Generation

WMN continued its focus on evaluating additional tenements of strategic importance to expand the land area held. To date, some projects have met the criteria for WMN to continue past the review stage. This work is ongoing as WMN seeks to acquire further value accretive assets.

Western Mining Limited
T: +61-8-9421-7777
WWW: www.westernmining.net

]]> newsroom@abnnewswire.net <![CDATA[ Equatorial Resources Limited (ASX:EQX) March 2013 Quarterly Report ]]> en75093 Y http://www.abnnewswire.net/press/en/75093/ Mon, 29 Apr 2013 11:51:20 GMT Equatorial Resources Limited (ASX:EQX) is pleased to present its quarterly report for the period ended 31 March 2013.

HIGHLIGHTS

Mayoko-Moussondji Iron Project

- Maiden JORC Hematite Resource of 102 million tonnes at 40.6% Fe for Mayoko-Moussondji was announced on 4 February 2013 as part of a Total JORC Mineral Resource Estimate for Mayoko-Moussondji of 767 million tonnes at 31.9% Fe.
- Metallurgical test work continued to demonstrate the potential to deliver premium iron products grading above 63% Fe with low impurities using simple beneficiation techniques.
- Drilling is continuing and there is potential to substantially increase the initial resource base. Equatorial continues to focus on near term production potential based on access to existing rail and port infrastructure.
- The Company's Development Plan for Mayoko-Moussondji was presented to the Republic of Congo government and transport authorities in a series of meetings in March 2013.
- The Development Plan currently envisages a staged production ramp up commencing with 300,000 tonnes per annum in Stage 1, 2 million tonnes per annum in Stage 2, and 5-10 million tonnes per annum in Stage 3.
- Equatorial is completing a Scoping Study which will detail the expected timeline, capital expenditure requirements, operating costs and financial outcomes of the Company's preferred development plan.
- The Scoping Study is expected to be finalised by mid-2013 and will enable Equatorial to advance discussions with potential financiers and strategic partners to support the funding of the preferred development scenario.

Badondo Iron Project

- Scout drilling campaign completed at the Badondo Prospect with excellent initial results.
- Equatorial to remodel Exploration Target for Badondo once all exploration data is received including detailed mapping and final drilling results from the scout drilling program.
- Based on encouraging exploration results to date, infrastructure development options are being assessed to enable access for larger track mounted drill rigs to conduct a future resource definition drilling program.

Corporate

- Equatorial remains in a strong finanical position with significant cash reserves and no debt. As at 31 March 2013, the Company held $56.7 million in cash.
- Following completion of the Scoping Study for Mayoko-Moussondji Equatorial expects to significantly reduce the Company's cash burn rate and focus on the progression of financing and strategic partnership opportunities intended to support project development.

For the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-EQX-633195.pdf

Equatorial Resources Limited
T: +61-8-9322-6322
F: +61-8-9322-6558
WWW: www.equatorialresources.com.au

]]> newsroom@abnnewswire.net <![CDATA[ Cuervo Resources Inc, (CNSX:FE) Updates Mineral Resource Estimate on Cerro Ccopane Iron Project in Peru ]]> en75052 Y http://www.abnnewswire.net/press/en/75052/ Sun, 21 Apr 2013 12:47:19 GMT Cuervo Resources Inc. (CNSX:FE) (FRA:CRR) ("Cuervo" or the "Company") is pleased to announce the filing of an updated National Instrument 43-101 compliant report on its wholly-owned Cerro Ccopane Iron Project in Peru. The report includes a measured and indicated mineral resource estimate at Cerro Ccopane of 55.6 million tonnes grading 46.7% Fe and an inferred mineral resource of 576.4 million tonnes grading 42.8% Fe.

The updated report, prepared by B.J. McKay Ltd of Cornwall, Ontario, follows the recent completion of a $5.25 million exploration program centered on the Bob 1 zone of the Cerro Ccopane property. It notes eight distinct geological and/or geophysical targets on the Cerro Ccopane property on which a total of approximately 23,000 meters of diamond drilling have been completed to date on three zones (Orcopura, Bob 1 and Huillque). Minor amounts of drilling have been completed on two other zones (Aurora N and S) and two other zones have not as yet been drill tested. As recently reported, additional geophysical surveying and refined modeling included in the recently completed exploration program resulted in the identification of an additional anomaly nearby to Bob 1 and an increased estimate of the geophysical indicated mineralization potential at or nearby the Bob 1 zone from 1.1 billion to 2.4 billion tonnes. The limits of both the Bob 1 zone and the newly identified anomaly remain open at depth, along strike and over their widths.

The new NI 43-101 report on the Cerro Ccopane property concludes with recommendations for further advanced exploration work to refine current resources estimates and to assess, in particular, the multi-billion tonne potential indicated by geophysical survey modeling of the Bob 1 zone and the nearby Huillque Norte zone.

Table 1 below presents summary resource estimate results on the Cerro Ccopane property. Table 2 presents a summary of target zones identified at Cerro Ccopane with outlined geophysical potential and activity. All targets are open on strike.
Table 1
Summary of Resource Estimates: Cerro Ccopane Property
---------------------------------------------------
Zone    Measured & Indicated    Inferred
         (million tonnes)    (million tonnes)
---------------------------------------------------
Bob 1                           453.50	
Orcopura       55.50             50.83	
Huillque                         55.99	
Aurora North                      9.08	
Aurora South                      6.97	
---------------------------------------------------
Totals         55.50            576.37	
---------------------------------------------------

Table 2
Summary of Geophysical Potential & Drilling to Date
---------------------------------------------------
Zone    Geophysical Potential  Drilling to Date
          (million tonnes)      (metres)
---------------------------------------------------
Bob 1           2,438            4,400	
Orcopura          147           16,000	
Huillque Norte  1,265           None to date	
Huillque          128            3,000	
Aurora North       18            1,000	
Aurora South       32            1,100	
---------------------------------------------------
Totals          4,028           25,500	
---------------------------------------------------
This potential quantity of mineralization, of undetermined grade, is conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource


The report referred to herein was prepared by Bryan McKay M.Sc. (A.) P. Geo. of B.J. McKay Ltd. who is a qualified person as defined in NI 43-101 and is for purposes of NI 43-101 independent of Cuervo Resources Inc. The complete text of the report will soon be available on SEDAR.

The current exploration work and content of this release has been carried out under the supervision of Mr. Velasquez Spring, P.Eng., a qualified person for Cuervo under the definition of NI 43-101. Mr. Spring is the Chief Operating Officer of Cuervo and a Director of the Company.

To View the Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/75052-cuervo-20130421.pdf
]]> newsroom@abnnewswire.net <![CDATA[ Atlas Iron Limited (ASX:AGO) Atlas March 2013 Quarterly Activities Report and Reserves Upgrade ]]> en75033 Y http://www.abnnewswire.net/press/en/75033/ Wed, 17 Apr 2013 08:28:57 GMT During the March 2013 quarter, Atlas Iron Limited (ASX:AGO) announced an increase in its total Pilbara ore reserves of 21% to 499 Mt, further strengthening the company's existing operations, near term development projects and its longer-term growth strategy.

The upgraded reserve estimate, which compares to the previously published figure of 30 June 2012, includes a 21% increase at Mt Dove and a 25% rise at Abydos, where construction is currently underway. The upgrade includes a 98% increase in reserves at McPhee Creek.

To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AGO-631889.pdf

Atlas Iron Limited
T: +61-8-6228-8000
F: +61-8-6228-8999
WWW: www.atlasiron.com.au

]]> newsroom@abnnewswire.net <![CDATA[ Western Mining Limited (ASX:WMN) to Acquire Gold Exploration Licence in Central Sulawesi ]]> en75025 Y http://www.abnnewswire.net/press/en/75025/ Mon, 15 Apr 2013 14:06:29 GMT Western Mining Network Limited (ASX:WMN) is pleased to announce that it has entered into an exclusive Master Agreement to ultimately own 80% of the shares of PT. Persada Bumi Rawas (a company registered in Indonesia), which directly holds a 100% interest in IUP Exploration No. 540/307.19/Distamben dated 12 August 2009 and issued by Regent of Buol (Persada Tenement), subject to due diligence.

The Persada Tenement holds clean and clear status with 8 years tenure expiring on 12 August 2016, covers an area of 5,000 hectares in the Buol region of Central Sulawesi, Indonesia and is considered to be prospective for gold.

Executive Chairman, Christopher J. Clower, commented "This tenement acquisition is a progression of the Company's strategy to acquire a diverse range of highly prospective and scalable exploration targets in under-explored regions in Indonesia, through new applications and lowrisk acquisition deal structuring."

PERSADA TENEMENT - BUOL PROJECT AREA INFORMATION

The Persada Tenement is located northeast of Palu in Central Sulawesi (Figure 1), between Toli-Toli and Buol. The Tenement is approximately 50 km east of Toli-Toli and covers 5,000 hectares. There is an existing access road to the tenement via Lakea village road, which is on the West of the Buol - Toli-Toli Highway.

The Persada Tenement is primarily covered by secondary forest and some clove and cocoa plantations. The area has undulating relief, with a dendritic drainage pattern with the main rivers flowing southwest to northeast and out of the eastside of the tenement.

The Buol region recently gained international attention with the Bulagidun Copper-Gold (Cu-Au) prospect, located in a remote area of north Sulawesi, identified during follow-up of stream sediment and panned concentrate geochemical anomalies. Soil geochemistry and drilling outlined areas of disseminated and controlled Cu-Au mineralization. Soil sampling shows a close association of Cu and Au anomalies with three mineralized breccia zones. Numerous weak metal anomalies also correlate with peripheral quartz-sulfide veining.

The three separate bodies at Bulagidun Cu-Au prospect contain an exploration target ranging from 13.5Mt to 14.4 Mt at a grade range from 0.6 to 0.68 ppm Au and from 0.55% to 0.61% Cu. This target estimate is based on results from previous soil and stream sampling anomalous results. Note that the target estimate is conceptual in nature, is not a resource and future work may or may not delineate a resource in part or in whole.

A series of intrusions into regionally-widespread andesitic volcanic rocks (ca. 9.4 Ma) vary in composition with time, from early diorite to quartz diorite to late tonalite and post-mineral andesitic dykes.

STREAM SEDIMENT SAMPLING PROGRAM

PT. Persada Bumi Rawas recently conducted a stream sediment sampling program which was designed to evaluate the gold signature and surrounding areas.

To date, 83 samples have been collected with assay results returned. Assay results from stream sediment samples show that certain streams are relatively anomalous, with values ranging from <0.01 to 0.34 ppm. Additional sampling is in progress, with the objective of collecting samples at a density of one sample or more per square kilometre.

Two discrete anomalous areas are identified by the gold in stream sediment anomalies. These prospect areas, identified as Block A (+ 480 Ha) and Block B (+ 450 Ha), are priority prospect areas for gold (Au) mineralization that is associated with either igneous rocks or sedimentary unit located in southern part of the tenement.

Each of these two anomalous areas requires further and more detailed sampling along the anomalous drainages to delimit the bedrock source of the gold. This high-priority anomaly area covers the north-south trending intrusive contact between basaltic rock in the centre of the area and metasedimentary rocks. Quartz veins are present in both the sheared basaltic rock and in the sheared metasediments. Other gold stream sediment anomalies are to the southwest and on strike with the same sheared contact of the priority anomaly area.

Several isolated and significantly smaller anomalies were also identified, but they appear to be smaller targets and therefore represent lower priority anomalies at this time.

As part of its due diligence, the Company plans to collect a total of at least 200 stream sediment samples in the area with a comprehensive stream sediment sampling program that will cover the entire argillically-altered area.

Stream-Sediment Sampling Methodology

The stream-sediment sample material is screened to -80 mesh. The screened material is then bagged; its location plotted on a map and is transported by Company personnel to the assay laboratory sample preparation facility in Jakarta, Indonesia. The samples are then analysed using ICP-OES (Code: IC01), Hg - Cold vapour AAS plus Au FA 51 methods.

Method of Analysis

Samples were prepared at the INTERTEK lab facility in Jakarta, Indonesia, and analysed by ICP, CV and FA methods at their facilities in Jakarta, Indonesia. Samples sent for analysis were prepared by the INTERTEK sample preparation laboratory in Jakarta, Indonesia. Both stream sediment and rock samples were analysed using Fire Assay (Method code: FA 51) for Au (Gold) with detection limit at 0.01 ppm. Cold vapour AAS (Method code: CV02) was used for Hg (Mercury) determination. While ICP-OES method (Code: IC01) determination distilled water gest was used to analyse: Ag (Silver), As (Arsenic), Bi (Bismuth), Cu (Copper), Mo (Molybdenum/Silver White), Pb (Lead), Sb (Antimony), Se (Selenium), Te (Tellurium), Zn (Zinc).

TRANSACTION DETAILS

- WMN signs a Master Agreement to acquire 80% of the issued shares in PT. Persada Bumi Rawas which directly holds a 100% interest in the Persada Tenement.

- WMN has exclusive rights to explore and conduct due diligence for a period of 30 days. WMN shall start due diligence exploration and the field works as soon as possible.

- If WMN decided to pursue the transaction after completion of the due diligence, both WMN and the shareholders of PT. Persada Bumi Rawas shall execute the Share Subscription Agreement ("SSA"), which will govern the final terms and conditions of this transaction.

- The consideration of the proposed transaction is US$500,000 payable in three stages:

- US$100,000 upon the execution of the Master Agreement;
- US$300,000 upon the execution of the SSA; and
- US$100,000 not later than 30 days from the execution of the SSA.

FIELD EVALUATION PROGRAM

Over the coming 30 days WMN intends to implement an initial exploration program that includes follow-up stream sediment sampling of the two gold anomalies and a comprehensive stream sediments mapping exercise to identify the areas with the highest potential.

To View Diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WMN-631681.pdf

Western Mining Limited
T: +61-8-9421-7777
WWW: www.westernmining.net

]]> newsroom@abnnewswire.net <![CDATA[ Atlas Iron Limited (ASX:AGO) Independent Pilbara Rail Study to Progress to Next Stage ]]> en74941 Y http://www.abnnewswire.net/press/en/74941/ Fri, 5 Apr 2013 17:19:05 GMT Atlas Iron Limited (ASX:AGO) (PINK:ATLGF) is pleased to announce that the first phase of the rail Alliance study with Aurizon Operations Limited and Brockman Mining Limited (ASX:BCK), has been completed. The study sought to provide a preliminary evaluation of a new, independent, multi-party railway to connect iron ore mines in the East Pilbara to Port Hedland.

The Alliance study conclusions demonstrate the merits of a new, standard-gauge railway in the East Pilbara, connected to dedicated port facilities at Port Hedland that aggregates production from a number of operating and prospective miners, including Brockman and Atlas.

As a result, the parties have extended the existing Alliance Study Agreement to 1 July 2013, to examine the integration of the East Pilbara rail development and the proposed North West Infrastructure port development in South West Creek in Port Hedland.

This recognises the synergies that can be achieved across the supply chain and forms the basis for the next stage of evaluation being an integrated rail and port pre-feasibility study. The Alliance participants are finalising the scope and timing of a pre-feasibility study for the combined port/rail project.

Atlas Managing Director Ken Brinsden said that "As a result of this first phase of study, Atlas has learnt much about the economics of a new independent rail solution, and for that matter the part independent infrastructure options have to play in the broader Pilbara landscape. The results of the joint study support our view that an infrastructure solution for junior miners in the Pilbara is viable and could be realised, to the benefit of all of our stakeholders, including the local Port Hedland community and the State of Western Australia".

To view the announcement, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AGO-630802.pdf

Atlas Iron Limited
T: +61-8-6228-8000
F: +61-8-6228-8999
WWW: www.atlasiron.com.au

]]> newsroom@abnnewswire.net <![CDATA[ Baobab Resources plc (LON:BAO) Over 200 MT Upgraded to JORC Indicated Category at Tete ]]> en74920 Y http://www.abnnewswire.net/press/en/74920/ Wed, 3 Apr 2013 22:52:27 GMT Baobab Resources Plc (LON:BAO) is a Mozambique focused mineral resource development company. Further to the RNS dated 21 February 2013, the Company is pleased to present final results of the resource up-grade at the Tenge/Ruoni prospect at its 85% owned Tete pig iron and ferro-vanadium project (the 'Tete Project') in which International Finance Corporation ('IFC') hold a 15% participatory interest.

HIGHLIGHTS

- International independent consultants Coffey Mining Limited have finalised a JORC resource estimate for the Tenge/Ruoni prospect based on the completed results of the 2012 infill drilling programme.

- The Tete Project's global resource base now reports 727Mt ('inferred' and 'indicated'), 553Mt of which is defined underlying the 2.5km2 footprint of the Tenge/Ruoni prospect (see Table 1).

- 217Mt has been upgraded to an 'indicated' category at Tenge/Ruoni, representing an encouraging conversion ratio from Inferred to Indicated of 73% at Tenge and 88% at Ruoni North from the original March 2012 inferred resource estimates.

- The Definitive Feasibility Study ('DFS') drilling programme commenced at Tenge on 2 February 2013. The objective of the programme is to elevate resources that lie within the Stage 1 pit shell to a 'measured' category, as well as collect representative material for the next round of metallurgical test work.

- Following on from the successful completion of a 1Mtpa Pre-Feasibility Study ('PFS') which delivered a pre-tax NPV10 of US$1.3bn (refer to RNS dated 28 March 2013), Baobab is now assessing a range of strategic corporate opportunities. To aid in the evaluation and implementation of the options, the Company is enlisting the services of a corporate advisor. The selection process is nearing completion and the successful candidate will be announced shortly.

Commenting today, Ben James, Baobab's Managing Director, said: 'this latest update further consolidates the resource base on which to build a large-scale operation. The excellent conversion rate from 'inferred' to 'indicated' classifications in the areas infill drilled during 2012 further de-risks the technical elements of the project.

'With the base case PFS complete and results of increased production models due in shortly, Baobab is now in a position to accelerate the appraisal and execution of corporate strategies that will ensure the successful development of the Tete project. These initiatives will run in parallel with the continued technical initiatives as the Company maintains momentum into the DFS.'

For the full report, please visit:
http://media.abnnewswire.net/media/en/docs/74920-BAO20130303.pdf

Baobab Resources plc
Ben James
T: +258-21-415-200
WWW: www.baobabresources.com

]]> newsroom@abnnewswire.net