Victory West Metals Limited

Victory West Moly Limited (ASX:VWM) wishes to advise shareholders that it has finalised the A$2 million convertible note offer from Dempsey Resources Limited, a fully owned subsidiary of Cape Lambert Iron Ore Limited (ASX:CFE). All documentation has been signed and the funds transfer effected.

Victory West Moly Limited (ASX:VWM) has completed the second stage of the scoping study with the Beijing General Research Institute of Mining and Metallurgy ("BGRIMM"). Results of the studies completed to date have shown very positive results for the future feasibility of the project. Scoping studies will continue to be advanced as ongoing exploration continues to delineate the size and grade of the Anomaly B prospect.

Victory West Moly Limited (ASX:VWM) is pleased to announce that the necessary licenses to convert Permits (KPs) to Mining Licences (IUPs) have now been finalised. Victory West Moly has been very proactive during the past months in preparation for the granting of new IUP licenses by hosting presentations to the local and provincial governments on continuing exploration on the concessional areas. Several meetings have taken place in Jakarta and Sydney, with the signing of all documents finalised at a meeting in Jakarta on Tuesday 25th August by the local Bupati and Victory West Moly representatives.

Victory West Moly Limited (ASX:VWM) is pleased to announce that it has accepted an offer for a A$2 million convertible note with Dempsey Resources Limited, a fully owned subsidiary of Cape Lambert Iron Ore Limited (ASX: CFE), subject to completion of formal legal agreements.

Victory West Moly Limited (ASX:VWM) is pleased to announce that on 24 July 2009 it executed Heads of Agreement with XS Platinum Ltd ("XSP") to acquire all of XSP's shares. XSP has near-term platinum and gold production in Alaska, and plans to be producing and selling platinum and gold by calendar year end. VWM has an exciting, highly prospective molybdenum project in Indonesia.

Victory West Moly Limited (ASX:VWM) is pleased to announce that on 24 July 2009 it executed Heads of Agreement with XS Platinum Ltd ("XSP") to acquire all of XSP's shares. XSP has near-term platinum and gold production in Alaska, and plans to be producing and selling platinum and gold by calendar year end. VWM has an exciting, highly prospective molybdenum project in Indonesia.