Cashmere Iron Ltd, unlisted public company based in Western Australia,
has reached a significant milestone in the development of its Cashmere Downs Iron Project in the Mid West region of Western Australia, announcing:

* JORC Code compliant hematite and magnetite deposit at Cashmere Downs Iron Project now stands at over 1 Billion tonnes,
* Estimated resource represents a length 7.5km of a total of 52kms of banded iron ridges within the Company’s project area, which has the potential to be one of the largest iron deposits in the Mid West,
* Davis Tube Recovery results are exceptionally high, with an average of 43.7% weight recovery at a 38 micron grind size,
* Metallurgical studies show that a concentrate >66%Fe with Silica levels 4.5% Si02 and weight recovery of >40% can be achieved,
* Several areas of DSO Hematite Canga and channel deposits (rock chip results as high as 64%Fe) indentified and will be proven up as priority,
* Cashmere Downs Iron Project is advanced, with second stage environmental studies soon to commence; Native Title agreements in place; project within granted Mining Leases; and discussions with potential off-take/JV partners in progress.