Iron ore projects in the Kimberley Region of Western Australia

• Pluton has earned a 50% interest in one tenement and four tenement applications prospective for iron ore through a joint venture with Cliffs Asia Pacific, an established miner and co-owner of the Cockatoo Island Mine. Pluton is in the process of acquiring 100% of the WA iron ore tenements.
• The region includes existing mining and port infrastructure in the region, including that co-owned by Portman in joint venture with Henry Walker Eltin.
• The Tenements are strategically located for Chinese and Indian markets.
• Exploration is presently focused on outcropping iron mineralisation on Irvine Island.
• Iron mineralisation on Irvine Island is exposed in two locations; Hardstaff Peninsula and the Isthmus region.
• Drilling in 2008 by Pluton Resources Ltd. identified an initial Inferred Resource of 54Mt at 49% iron (including 25Mt @ 55% iron)at Hardstaff Peninsula.
• Phase II drilling is targeting up100Mt iron from Hardstaff Peninsula and 30Mt from the Isthmus Region, with mineralisation continuing to remain open at depth beneath much of Irvine Island.
• Very low phosphorous, alumina and sulphur in the iron ore.
• High grade iron mineralisation is exposed at surface at the Isthmus region of Irvine Island but remains largely untested.
• Laboratory testing is underway to assess the potential to concentrate (beneficiate) additional low grade iron mineralisation.