Members of the Alliance

Name:

Asia Iron Australia Proprietary Limited

Overview:

• Hematite, magnetite and coal exploration
• Registered as a company in January 1994, as parent company of Extension Hill Pty Ltd

Key assets:

• Extension Hill Magnetite Project
• Koolanooka South hematite and magnetite projects
• Minga Well magnetite project
• Irwin River Coal Deposit

Iron ore resources:

• Extension Hill Magnetite Project has a JORC inferred mineral resource is currently estimated at 1.5 billion tonnes of which approximately 203Mt is classified as Measured and Indicated from which magnetite concentrates grading in excess of 67.5% Fe can be produced at high mass recovery of >42%.
• Project leases have potential for over 6 billion tonnes of resource and drilling is in progress.
• Potential for a further 1 billion tonnes of hematite and magnetite within Asia Iron's other tenements.

Current activities:

As at March 2012 [1]

• The Extension Hill Magnetite Project has received State and Federal environmental approval for shipping at an initial production rate of 10MTPA of high quality magnetite concentrate from the Port of Geraldton for 40 years
• The project and approvals include the open pit mine, ore processing plant, concentrator, site infrastructure and services, slurry , water and gas pipelines, filter plant, product storage and ship loading at Geraldton and 330kV power transmission line from Three Springs to the mine site.
• Extension Hill is scheduled to ship its first concentrate from Geraldton in 2014.

Asia Iron has a range of interests in the Mid West including:

• Mount Gibson Iron Ore Mine and Infrastructure project developing the Extension Hill magnetite resource which has received Federal and State environmental approval to produce high quality magnetite concentrate at an initial production rate of 10 Mtpa for a minimum 40 years for export through the Geraldton Port
• Koolanooka South hematite and magnetite projects
• Minga Well magnetite project
• Irwin River Coal Deposit (potential for 100 million tonnes of coal)
• Farming properties at Tathra and Irwin River

 [1]    The information in this presentation that relates to Mineral Resources is based upon information compiled by David Milton. David Milton is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a competent person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. David Milton consents to the inclusion of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to Ore Reserves is based on information compiled by Mr Steve Craig, Managing Director of ORElogy (Mining Consultants). Mr Craig is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Craig consents to the inclusion of the matters based on his information in the form and context in which it appears in this presentation.

Overview:

• Hematite/Magnetite project. Company first registered in 2007.

Key Asset:

• Cashmere Project.

Iron ore resources:

18.5m/t Canga JORC inferred ( Produces a 60 sinter product at a 40% weight recovery) >1billion tonnes JORC resource over 90% in the measured and indicated categories. (Produces two products, 1. the hematite cap produces a 65 concentrate <4.5% Sio2 and a 43% weight recovery. 2. The magnetite produces a 68 concentrate >4.5% Sio2 at 42% weight recovery)

These resources represent approximately 15% of the potential of the Cashmere project. The company in the last 16 months has completed the following;

• Scoping study on the magnetite
• Pre-feasibility on the hematite cap
• Project definition study
• Ore body delineation
• Scoping study on port and infrastructure.
• Level 2 environmental autumn and spring surveys
• DFS on port is 90% completed
• Heritage and native title completed

A further drilling program on the CID at Cashmere was completed 2 weeks ago with results due in September.

Current activities:

• Further drilling over the next 12 months will greatly enhance the resources at cashmere, we will also be moving to DFS on the hematite cap and the Canga resources. The company intends to IPO last quarter 2011. [1]

 [1]   I, Philip Alan Jones confirm that:

I am a Competent Person as defined by the 2004 JORC Code, having five years' experience which is relevant to the style of mineralisation and type of deposit described in the Report, and to the activity for which I am accepting responsibility.

I am a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

I have reviewed the Report to which this Consent Statement applies.

I am a consultant working for Al Maynard and Associates and have been engaged by Cashmere Iron Limited to prepare the documentation for the Cashmere Iron Deposit on which the Report is based, for the period ended October 14, 2011.

I verify that the Report is based on and fairly and accurately reflects in the form and context in which it appears, the information in my supporting documentation relating to Mineral Resources and Ore Reserves.

Website:

 www.cashmereiron.com

Name:

Yogi Mine Project

Overview:

• Yogi Mine Project is a plan by Ferrowest (ASX ticker: FWL) to develop the Yogi iron deposit that is located 14km east of Yalgoo in the Mid West Region.
• The Yogi Mine Project proposes a 4.5Mtpa of magnetite iron ore mine and concentrator. 3Mtpa of magnetite concentrate is planned to be exported and 1.5Mtpa is proposed to be consumed by Ferrowest in its Eradu MPI Project.
• Exploration is also ongoing for gold, base metals and direct shipping grade iron ore at Yogi .

Key assets:

• The Yogi iron ore deposit

Iron ore resources:

• JORC (2004) Inferred Resource of 572.5Mt @ 27.5þ of magnetite
• Target potential^# of 0.8Mt – 1.2Mt @ 25.5þ – 29.5þ of magnetite

Current activities:

At 25 February 2012 [1]

• Working toward the completion of a Bankable Feasibility Study on the proposed magnetite mine and concentration operation, including regulatory approval processes.
• Undertaking further drilling to expand JORC Resources and to establish a maiden JORC Reserve for magnetite.
• Exploring for potential gold, base metals and direct shipping grade haematite iron ore.

Website:

www.ferrowest.com.au

Name:

Gindalbie Metals Limited

Overview:

• Mid-tier emerging Australian iron ore company
• Operating since 1994
• ASX ticker: GBG 

Key asset:

Karara Iron Ore Project, comprising:  

Stage 2 Karara magnetite concentrate targeting production of 8 mtpa of magnetite concentrate from second half-2012. 

Stage 1 Karara hematite project based on mining of direct shipping ore at a rate of up to 2mtpa from mid-2011

Iron ore resources:

Iron ore reserves:  

• JORC (2004) Magnetite Indicated & Inferred Resource - 2.45 billion tonnes @ 36% Fe 
• JORC (2004) Magnetite Probable Reserve - 955.5 billion tonnes @ 36.4% Fe

Current activities:

As at 30 September,  2011, construction well advanced  [1]

• Structural, mechanical and piping stage underway on Karara Processing plant, to be followed by electrical and instrumentation
• Approximately 1600 people working on Karara construction
• Water pipeline completed, becoming first key infrastructure component to be commisioned
• Rail spur, Geraldton Port facilities and 330kV powerline infrastructure due to be completed in the June Quarter of 2012
• Processing plant due for completion September Quarter 2012

 [1]  The information in this report that relates to the Exploration results and data that was used to compile the Mineral Resource estimates is based upon information compiled by Ian Shackleton.  Ian Shackleton is a member of the Australasian Institute of Geoscientists (MAIG) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".  Ian Shackleton is a full-time employee of Gindalbie Metals Limited.  Ian Shackleton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.  

The information in this report that relates to the Mineral Resources is based upon information compiled by Richard Sulway.  Richard Sulway is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".  Richard Sulway is a full-time employee of Snowden Mining Industry Consultants Pty Ltd.  Richard Sulway consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.  

The information in this report that relates to the Ore Reserves is based upon information compiled by Mark Gell.  Mark Gell is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".  Mark Gell is a full-time employee of Karara Mining Limited.  Mark Gell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Website:

www.gindalbie.com.au

Overview:

• Iron and gold exploration company
• Registered in November 2002 and listed on the ASX since December 2004
• ASX ticker: GWR

Key assets:

• The Wiluna West project hosts a JORC Resource of some 130 million tonnes of Direct Shipping Ore (DSO) hematite ore at 60% Fe contained within two mineralised units, Unit B and Unit C. These Units are interpreted from magnetic surveys to extend the entire 45km length of the tenements. Approximately, 62% of the resources are in the measured and indicated category which host JORC Reserves of 69.2Mt at 60.3% Fe.

Current activities:

• The Company is progressing its high-grade low impurity John William Doutch iron ore deposit as a direct shipping ore product with an initial production targeted rate of 1Mtpa. Mining approvals are at an advanced stage with mining scheduled to commence as soon as port access is established at either Esperance or Geraldton ports.
• A bulk sample program is being developed to provide product to prospective customers for testing.
• The major scale 10Mtpa project is planned to be developed in line with the development of Oakajee Port & Rail.
• Progressing plans to mine select gold deposits located within the Wiluna West tenements.
• Assessing other Iron Ore opportunities in the Region primarily in the Earaheedy basin and other prospects nearby the Wiluna West Project. [1]

 [1] The information in this report which relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Brian Varndell, who is a Fellow of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and independent consultant to the Company. Mr Varndell is a consultant of Al Maynard & Associates Pty Ltd and has 40 years of experience in exploration and mining in a variety of mineral deposit styles. Mr Varndell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Varndell consents to inclusion in the report of the matters based on his information in the form and context in which it appears.

Website:

www.goldenwestresources.com

Name:

Padbury Mining Limited

Overview:

• Located 450km north east of Geraldton, Padbury Mining Limited is a Perth-based ASX-listed mineral exploration company focused on the development of its flagship Peak Hill Iron project in Western Australia's emerging Mid West region.

Key assets:

• Peak Hill Iron Project, a joint venture with Aurium Resources. Padbury holds 70% of this project. Peak Hill is within Padbury's 2500sqkm of tenements and is part of the Robinson Range Banded Iron Formation.

Iron ore resources:

• In April 2011, Padbury defined a maiden Inferred JORC compliant resource of 850Mt at an average 27.3% Fe. Davis Tube Recovery test work has shown the magnetite bearing BIFs can produce high-grade, export quality concentrate. A hematite (Direct Shipping Ore - DSO) target has been identified of up to 10-55Mt at 58% Fe.

Current activities

 [1] The Exploration Results and exploration target estimates discussed in this report were prepared under the supervision of Mr Daniel Wholley BAppSc MAIG, who is a Director and full time employee of CSA Global Pty Ltd and is a competent person as defined by the Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2004 Edition.  Mr Wholley consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.  

Website:

www.padburymining.com.au

Name:

Sinosteel Midwest Corporation

Overview:

• Iron ore supplier and project developer
• Wholly owned subsidiary of Sinosteel

Key assets:

• Koolanooka-Blue Hills iron ore project
• Koolanooka magnetite iron ore project
• Weld Range iron ore project
• Jack Hills iron ore project
• Robinson Range iron ore and manganese project

Iron ore resources

• Koolanooka & Blue Hills Total Ore Resources of 11.57 million tonnes at 57% Fe
• Koolanooka & Blue Hills Total Ore Reserves 5.66 million tonnes at 58.6% Fe
• Weld Range Total DSO Iron Ore Resource 234.19 million tonnes at 57% Fe
• Weld Range Total DSO Iron Ore Reserves 145.3 million tonnes at 57.8% Fe

Current activities:

• Koolanooka Direct Shipping Ore (DSO) Project commenced production January 2006 (life of mine to 2013)
• Blue Hills Operation to commence 2013
• Weld Range Hematite Ore BFS completed 2010, finalising approvals [1]

[1] References to Ore Reserves presented in this document have been produced in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves, 2004 edition (JORC Code) under the direction of Mr Beng Ko. Mr Ko is a Member of The Australasian Institute of Mining and Metallurgy and is a full time employees of Sinosteel Midwest Corporation. Mr Ko has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Persons as defined in the JORC Code. Mr Ko consents to the inclusion in this document of the matters based on their information in the form and context in which it appears.

References to Mineral Resources contained in this report have been compiled under the supervision of Mr Kahan Cervoj. Mr Cervoj is a Member of The Australasian Institute of Mining and Metallurgy and is a full time employee of Sinosteel Midwest Corporation. Mr Cervoj has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ (JORC Code). Mr Cervoj consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Website:

www.smcl.com.au

Name:

Top Iron Proprietary Limited

Overview:

• Perth, Australia, August 16,2011
• A privately owned company which has purchased several granted exploration licences and exploration licence applications in Western Australia. The company is focused on completing its exploration program on its tenements in the midwest/ Murchison region of Western Australia.
• It is considered that the first of these tenements that will come into production is that south of Extension Hill, 80 km north of Dalwaninu.

Current Activities:

• Exploration