CZR RESOURCES LTD — Capital/Financing Update 2008

Apr 15, 2008

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15[th] April 2008

AUSTRALIAN STOCK EXCHANGE RELEASE

LEAD TRADING BUSINESS

The Company:

• is stocking up and preparing for first lead sales shipment in April 2008

• has signed an important first sale and purchase contract with CITIC International Co., Ltd(CITIC)

• has signed an important first sale and purchase contract with Hunan Guiyang Yinxing Non-ferrous Smelt Co., Ltd (HGY)

The Business

Coziron Resources Limited (ASX: CZR) is pleased to announce that the Lead trading business is moving forward with full steam. After the arrival of XRF metal analyser and Mr. Alex Ong (our operations manager) from Perth, the warehouse in Padang is busy with the Lead Ore collection. All the staff there are excited and with high spirit.

Citic International, One of the largest China State Own Company, has signed a contract to purchase 500 tons of Lead Ore (the trial shipment) where partial shipment is allowed. We intend to have 200 tons (10 containers) shipped out before 30[th] of April 2008, and 300 tons shipped out before 15[th] May 2008.

Hunan Guiyang Yinxing Non-ferrous Smelt Co. Ltd, (HGY) is among the 15 largest non-ferrous metal smelters in China and has signed to purchase 500 to 1000 tons Lead Ore per month for one year.

Each of these companies can easily buy from us 5,000 tons each month. These contracts are trial shipments only and after we set up our two floatation processing lines, we will negotiate contract to sell 5,000 to 6,000 tons of Lead Concentrate per month as well.

The Growth Plan

Citic International and HGY are very friendly and anxious to provide assistance. HGY has sourced supply of floater beneficiate lines for USD$180,000 each, which are capable of processing 100 mt of ore per day or 3,000 tons per month.

The floater is part of our major growth plan of going down stream. With the floater we can use low grade lead ore and hence increase the reserve available. After the floatation we can guarantee the product grade - Lead above 50%, Zn above 40%, Ag and copper above 10%.

Vertical Expansion

CZR will go upstream to secure tenements, start exploration, resources definition program and mining. We are in very advanced stages of discussion of a joint venture with an Indonesian Company, PT. Galian Bumi Khatulistiwa, to secure a Lead tenement in West Kalimantan with area of 5,890 hectares. This will ensure our own long term supply of lead ore.

CZR will go down stream to set up floatation plants in Padang and West Kalimantan to add value to our products and open up the ore grade for processing. If we can prove up a sizable reserve we can go to the extent of building smelting and electrolysing plants to produce lead ingots.

Horizontal Expansion

CZR is planning to secure increased supplies from more producing lead mines, and strengthen the mining relationships by providing assistance from our geologists, equipment, technologies, capital and build access roads whereas necessary.