Atlas Iron Limited (ASX:AGO) Announces Final Court Approval On The Aurox Resources (ASX:AXO) Scheme Of Arrangement

Atlas Iron Limited (ASX:AGO) and Aurox Resources Limited (ASX:AXO) (PINK:AUOXF) are pleased to report that the Federal Court of Australia has earlier today approved the scheme of arrangement between Aurox and its shareholders.

Aurox will now proceed to extract the Orders from the Federal Court and intends to lodge the Orders with the Australian Securities and Investments Commission ("ASIC") tomorrow, Friday, 13 August 2010.

Tomorrow will be the last day of trading for Aurox and suspension of trading in Aurox securities will occur on ASX at the close of trading on Friday, 13 August 2010.

Assuming that trading in Aurox shares is suspended on Friday, 13 August 2010, the timetable for the completion of the Merger is as follows.

Scheme Effective Date. Suspension of Aurox Shares from trading
- 13 August 2010

Trading of New Atlas Shares on ASX on a deferred settlement basis
- 16 August 2010

Record Date for determining entitlements to Scheme Consideration
- 5.00pm (WST) on 20 August 2010

Scheme Implementation Date - Issue of New Atlas Shares to Scheme Participants
- 24 August 2010

Dispatch of holding statements for New Atlas Shares
- 24 August 2010

Trading of New Atlas Shares on ASX on a normal T+3 settlement basis
- 25 August 2010

All dates are indicative only and may change without notice.

The Boards of both Atlas and Aurox welcome the Court's approval of the Merger and look forward to the ongoing success of the merged company.

About Atlas Iron Limited

Atlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.


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