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Media Statement

Top Iron Secures Geraldton Port Gateway

Geraldton Port Authority and Top Iron Pty Ltd have signed historical agreements that will establishTop Iron as the next significant iron ore exporter from Geraldton Port. The agreements provide for

the receival, storage and export of the companys product through the port and operations are

scheduled to commence in early 2014.

Top Iron' s Managing Director Bruce Richardson says, "the agreements with Geraldton Port are afurther significant step in the ongoing relations between the Mid West and China and importantlywith the Shanxi Jianbang Group which is a major investor in Top Iron and the Mummaloo project.Iron ore produced from Mummaloo will be shipped via Geraldton Port's Berth 5 ship loading facilityto Shanxi Jianbang's steel mill at Linfen where it will be used to produce a range of steel products

including reinforcing bar, wire and pig iron for use principally within China.

Mr Richardson says, "the economic benefits of the project will include; Capital investment within the region of more than $50M; Direct local employment of 100 workers during the construction phase and 110 for operations; Indirect benefits from the demand for general goods and services; & Workforce training and skills development.

"The Mummaloo mine will supply about 10% of Shanxi Jianbang's annual demand for iron ore andis a significant project because this is the first time that Shanxi Jianbang has established directinvestment in raw material supply in either China or Australia. Its success will be important tofurther mine and infrastructure investment by the company in the Mid West."

Geraldton Port Authority Chairman Ian King says, "the allocation of Geraldton's increasingly scarceiron ore export capacity to Top Iron was carefully considered and will pave the way for new mininginvestment in the Mid West and delivery of regional and state wide economic benefit at a timewhen this is increasingly important for the region's continuing prosperity.

"The Top Iron project is a further demonstration of the role Geraldton Port will continue to play inopening the Mid West iron ore province. We are positioned to provide start-up capacity toemerging producers in preparation for larger scale operations, including potentially larger scaleoperations by Top Iron that would require the increased capacity that Oakajee Port will provide.

"In the meantime the Geraldton Port looks forward to providing vessel handling and ship loadingservices to Top Iron and to a long and successful relationship between our organisations," Mr Kingconcluded.

Top Iron is a private company which expects to commence mining operations at its Mummaloodeposit south east of Perenjori in the state's Mid West in early 2014. The company's intention is toexport up to 2 million tonnes of iron ore per year and this objective is supported by a resource baseof more than 70 million tonnes at its Mummaloo and Hong Kong Reward tenements.

For further information

Mr Bruce Richardson. Mr Ian KingManaging Director -Top Iron Chairman - Geraldton Port Authority

(08) 9226 0299 0427 640 520

23 September 2013

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