CZR RESOURCES LTD — Capital/Financing Update 2008

Sep 14, 2008

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15th September 2008

AUSTRALIAN STOCK EXCHANGE RELEASE

AGAM IRON SAND PROJECT, SOLOK SELATAN LEAD PROJECT SUMATRA, INDONESIA

By way of update on these projects, the Company advises that:

The company has entered into a Joint Venture Agreement with PT Galian Endapan Buana on the Solok Selatan Galena project and also the AGAM iron sands project.

The company will pay PT Galian Endapan Buana (being the kuasa pertambangan (KP) or licence holder of the AGAM iron sand project) another USD40,000 upon signing of the Joint Venture agreement and issue three (3) million Coziron Shares and three (3) million unlisted options (exercisable at 30 cents each on or before 01 October 2010).

The company will pay PT Galian Endapan Buana (KP holder of Solok Selatan Galena lead ore project) another USD25,000 and issue two (2) million Coziron Shares upon delivery of the first shipment.

Exploration Manager Mr Allen Lyons representing Ravensgate Minerals Industry has visited the Agam site and will shortly present to the Board his recommendations for the JORC programme. To enable the implementation of this programme, site preparation will shortly commence for the geoscan electro magnetic survey.

An 18 kg iron sands sample is being delivered to ALS Laboratory in Australia for preliminary sighter testwork. From these results Pro Met Engineers will prepare recommendations for the material processing and iron sands production.

Shareholders can look forward to continuing regular updates.

Sai Kwok Miu

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Executive Director Coziron Resources Limited

For further information please contact:

Sai Kwok Miu Executive Director, Coziron Resources Limited www.coziron.com

T: 08 9227 7766 F: 08 9227 1370

M: 0411 888 782