Stirling Resources Limited (ASX:SRE) Managing Director Michael Kiernan Provides A Corporate Update On Portfolio Investments

Perth, Sep 23, 2009 AEST (ABN Newswire) - I am pleased to provide an update on Stirling Resources Limited (ASX:SRE), following what has been an industrious six month period for our Company. During this time, we have expanded our portfolio of resource investments in our targeted commodities of copper, zircon, gold, iron ore and coking coal.

We have a portfolio of investments that include Redbank Copper, Matilda Zircon and the new gold entity, Swan Gold Mining. In line with our strategy, we have focused on brownfields projects that are now being quickly progressed towards production and indeed we are in a very fortunate position with each of the projects consisting of high grade mineral deposits.

To provide an update for shareholders, we prepared and mailed out the attached corporate profiles for Stirling and our investments. The profiles set out our investment rationale and strategy, the structure of the business and the development upside that lies ahead.

Based on our projections of the current underlying value of Stirling's investments, the value per Stirling share is $0.27. Including a near term forecast with some modest investment uplift, in my assessment this will rise to $0.62 per share.

This reinforces our belief that we have made the correct investments, in standout commodities and at what is now seen as the right time, to ultimately deliver strong value to shareholders.

Stirling has developed a sound foundation, and assembled a highly experienced management team and Board of Directors. With the return to global economic growth we believe the road ahead will lead to substantial success. Importantly, shareholders can expect to benefit with capital growth of investment and ultimately good dividend flows.

We are becoming increasingly confident that spending a dollar today will prove a prudent decision in the longer term as the finance and commodity markets continue to strengthen.

For the complete Stirling Resources ASX Announcement, please click the link below:

http://www.abnnewswire.net/media/en/docs/61480-ASX-SRE-461055.pdf

Contact

Michael Kiernan Managing Director Tel: +61-8-6389-6800