CZR RESOURCES LTD — Capital/Financing Update 2008

Sep 2, 2008

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COZIRON RESOURCES LIMITED www.coziron.com

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02 September 2008

UPDATE ON THE PROGRESS OF AGAM IRON SANDS PROJECT

Coziron Resources Limited ( ASX: CZR ) is pleased to announce that the company has appointed Ravensgate as an independent consultant to prepare a report in respect of the Resource Estimate of the company’s AGAM Iron Sands project. Ravensgate’s exporation manager, Mr Allen Lyons, will initially make a site visit to AGAM and with the results from the Ground Electro Magnetic survey to be undertaken by the Indonesian Geophysics group, CV. BILLANDA UTAMA, he will prepare an in-depth exploration program to fully comprehend the quality and quantity of Agam Iron Sands mineralisation.

Ravensgate is a Perth-based independent privately-owned firm providing exploration, mining and mineral resources consulting services to the minerals industry since 1997.

Coziron has engaged ProMet Engineers to provide Preliminary Sighter Testwork prior to the metallurgical testwork program for the AGAM Iron Sands project. The intention of the Sighter Testwork is to establish sufficient information to offer recommendations on how to beneficiate the iron sands to a marketable grade. Coziron will send ProMet Engineers a representative sample of at least 20 kilograms of iron sands collected from the AGAM site for this purpose. The test is to be conducted at ALS laboratories and will include a Davis Tube Wash, which will be utilised to establish a concentrate. This material will then be analysed by XRF to establish the grade ( 5 size fractions ) of the iron sands.

ProMet Engineers is a company operating from Perth, providing amongst other things, metallurgical consultancy services to mineral and metals industry clients.

The company will continue to provide regular updates on the progress of the above.

Sai Kwok Miu Executive Director Coziron Resources Limited

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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

Agam Ground Electro Magnetic Survey September 2008