Burley Minerals Limited

Burley Minerals is a West Australian iron ore and base metals explorer and developer with head office based in Perth, West Australia. It has secured an option to acquire 70% of the issued capital of Novarange Pty Ltd (Novarange) which owns 100% of the Yerecoin Project near New Norcia, Western Australia. Exploration activities have defined significant JORC-compliant magnetite resources within the Project (incorporating the Main and South zones) totaling 247 Mt @ 29.9% Fe producing a 68.1% Fe concentrate (32.1% DTR). A number of historical studies have also been completed and the potential for economic mining established.