CZR RESOURCES LTD — Capital/Financing Update 2008

Jun 9, 2008

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10 June 2008

AUSTRALIAN STOCK EXCHANGE RELEASE

AGAM IRON SAND PROJECT

Following on from its announcement in May 2008, Coziron is now pleased to announce that it has signed a legal binding term sheet with Chinese based Wuhan Tongrui Industry and Trade Ltd (Wuhan) to develop the AGAM Iron Sand Project in West Sumatra Indonesia.

Wuhan, which is a supplier of iron pellets to the major steel mills in China and has considerable experience in the required beneficiation of iron sand, will initially off take a minimum of 30,000 tons per month of iron sand concentrate from the Project.

In this regard, Wuhan will provide all the technical support as well the mining equipment, beneficiation plant and wharf construction for an agreed amount of USD 2.2 million.

Wuhan’s Chairman, Mining Engineer and Wharf Construction Engineer have all visited the site of the Project and will materially assist Coziron with the expedient start up of production. The signing of the formal contract is expected shortly.

Indications at this stage are that production should commence by the first quarter of 2009.

Coziron has an entitlement over three other iron sand opportunities in West Sumatra.

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Sai Kwok Miu Executive Director Coziron Resources Limited

For further information please contact: Sai Kwok Miu Executive Director Coziron Resources Limited Telephone: 0411 888 782 Office: (08) 9227 7766