CZR RESOURCES LTD — Capital/Financing Update 2008

Jun 29, 2008

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30 June 2008

Australian Stock Exchange Exchange Plaza 2 The Esplanade PERTH WA 6000

Option Expiry Notice

We enclose a copy of the Option Expiry Notice sent to all optionholders today.

Yours Faithfully COZIRON RESOURCES LTD

TJ SPOONER CA FCA(UK) ACIS Company Secretary

COZIRON RESOURCES LTD

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REGISTERED OFFICE

COZIRON RESOURCES LTD C/- MGI Bridge Partners Level 41, 108 St Georges Terrace PERTH WA 6001 Tel: 08 9227 7766 Fax: 08 9227 1370

SHARE REGISTRY

Security Transfer Registrars Pty Ltd All Correspondence to: PO BOX 535, APPLECROSS WA 6953 Tel (08) 9315 2333 Fax (08) 9315 2233 EMAIL: registrar@securitytransfer.com.au

27 June 2008

Dear Option Holder

YOUR OPTIONS TO ACQUIRE COZIRON RESOURCES LTD SHARES AT $0.20 PER SHARE EXPIRE ON 31 JULY 2008

We are writing to you as a registered holder of 31 July 2008 options in COZIRON RESOURCES LTD to remind you that the options will expire at 5:00pm (WST) on 31 July 2008.

Your option holding may be exercised in whole or in part by payment of $0.20 for each option by no later than 31 July 2008. If payment is not received by 5:00pm (WST) on 31 July 2008 the options will lapse and all rights under the options will cease at that time.

Some of the courses of action available to you as a holder of these soon to expire options are:

• a) Exercise the options on or before 31 July 2008.

• b) Sell your options. Quotation of the options will cease at the close of trading on 24 July 2008.

• c) Do nothing (ie, allow your options to expire). If you do not exercise or sell your options they will expire on 31 July 2008 and your right to subscribe for ordinary shares in COZIRON RESOURCES LTD at $0.20 per share will lapse.

There is no obligation on option holders to exercise their options. However, under paragraph 6.1 of Appendix 6A of the Australian Stock Exchange ( ASX ) Listing Rules, the Company is required to advise option holders of the information contained in this notice.

The market sale price of ordinary shares in COZIRON RESOURCES LTD on ASX was 15 cents on 26 June 2008, being the last trading day in Perth prior to the date of this notice.

During the three (3) months preceding the date of this notice:

• the highest market sale price of ordinary shares on ASX was 19 cents on 24 June 2008; and

• the lowest market sale price of ordinary shares on ASX was 9.5 cents on 2 April 2008.

If you wish to exercise your options then you must complete your “Notice of Exercise of Options” form included with this notice and forward it together with payment of $0.20 per option exercised to be received no later than 5:00pm (WST) on 31 July 2008 to the Company’s share registry, being:

Security Transfer Registrars Pty Ltd PO Box 535 OR 770 Canning Highway APPLECROSS WA 6953 APPLECROSS WA 6953

Cheques should be made payable to “COZIRON RESOURCES LTD” in Australian dollars only and should be crossed “Not negotiable”. If you have any further questions please do not hesitate to contact our Registry on telephone (08) 9315 2333, facsimile (08) 9315 2233, or e-mail registrar@securitytransfer.com.au.

Yours faithfully TJ SPOONER

COMPANY SECRETARY