Murchison Metals Limited

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to advise that operations have resumed at the Jack Hills Stage 1 iron ore project in Western Australia, following their temporary suspension on 22 February 2011 due to regional flooding and road closures.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to advise it has formally executed its agreement with Resource Capital Fund V L.P. for the US$100 million Bridge Finance Facility that was announced to the ASX on 19 November 2010.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to advise that the Environmental Protection Authority of Western Australia has recommended approval of the proposed Oakajee Port & Rail terrestrial iron ore port development and associated rail infrastructure in the State's mid-west region.

In its ASX announcement on 3 March 2011, Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) stated that the flowsheet selected for the Jack Hills Expansion Project would deliver a base production capacity of +20 million tonnes per annum of premium quality iron ore products, comprising a mix of magnetite pellet feed concentrate, a blended magnetite/hematite concentrate and direct shipping grade lump and DSO fines.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to provide a project update for the Jack Hills Expansion Project (JHEP), following the achievement of a key technical milestone in the Bankable Feasibility Study (BFS).

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that the Government of Western Australia has today agreed to grant an extension to the State Development Agreement (SDA) for the Oakajee port and rail infrastructure project in Western Australia.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that Wayne Zekulich has been appointed Chief Financial Officer of Oakajee Port & Rail (OPR), developer of port and rail infrastructure for the mining industry in Western Australia's mid-west. OPR is jointly owned by Murchison and Mitsubishi Development Pty Ltd.

Dragon Energy Ltd (ASX:DLE) is pleased to announce that it has completed the A$4.5m settlement payment for the Rocklea Project (E47/1024-I) in the Pilbara iron ore province and has assumed 100% title for the tenement. The payment was made to AusQuest Limited (ASX:AQD) and its Joint Venture partners on 19 January 2011. Under the agreement with the Vendor, the Company will make two additional payments.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) (Murchison) is pleased to provide an update on the Federal Court proceedings brought by Chameleon Mining (ASX:CHM) against Murchison, Crosslands Resources Ltd and others.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce it has signed a terms sheet for a US$100 million Bridge Finance Facility to be provided by a fund managed by Denver based Resource Capital Funds (RCF). RCF manages resources focused private equity funds, one of which is a long term shareholder of Murchison.