CZR RESOURCES LTD — Capital/Financing Update 2014

Apr 16, 2014

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Coziron Resources Limited

ABN: 91 112 866 869 Level 24, 44 St George’s Terrace Perth Western Australia 6000 PO Box Z5183 Perth WA 6831 Phone: +61 8 6211 5099 Facsimile: +61 8 9218 8875 Website: www.coziron.com

The Company Announcements Office ASX Limited Via E Lodgement

17 April 2014

OPTION EXECUTED TO ACQUIRE YARRIE IRON-ORE PROJECT

Highlights

• Company enters into an option to acquire significant north Pilbara land package from Creasy Group called “Yarrie Iron Ore Project” (“Yarrie”)

• Yarrie is immediately adjacent to BHP’s Yarrie, Goldsworthy, Nimingarra and Shay Gap mines and prospective for high grade Fe.

 Location is well serviced by infrastructure and close to coast.

Coziron Resources Limited (“Coziron” or “Company”) is pleased to announce that it has entered into an option to acquire the Yarrie project from XFE Pty Ltd, a company controlled by Mark Creasy. Details of the arrangement are as follows:

Project Summary

Yarrie consists of four contiguous exploration licences held by XFE Pty Ltd (three granted, E45/3725, E45/3728, E45/4065 and one application E47/3727) covering a total of 1,022.2km[2] and located 160km east of Port Hedland (Fig 1). The Yarrie tenements are largely underexplored. They share boundaries in the central part with the Yarrie-Goldsworthy mining project which was until recently, operated by BHP Billiton PLC (BHP), while Fortescue Metals Group Ltd (FMG) hold granted exploration licences along the northern boundary of the project.

The tenements are serviced by a bitumen road and natural gas pipeline between Pt Hedland and the Telfer copper-gold mine and major regional roads which service the cattle industry and other mining towns in the region. The BHP owned rail connection between the Yarrie-Goldsworthy mining area and Port Hedland also services this area (see figure 1 below for details)

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Fig 1- Location of the Yarrie tenements in relation to the other major iron-ore tenement holders and BHP mines in the North Pilbara of Western Australia.

Prospectivity

The Yarrie project, located in the North Pilbara, is prospective for high-grade iron-ore (Fe>62%) deposits within Archaean-age sequences of volcanics and sediments termed the Cleaverville Terrain (Fig 2). These rocks unconformably overlie the granite basement, but underlie units of the Hamersley Basin. The Yarrie project covers outcrop extensions of the Cleaverville in the central and southern areas. In addition, there is significant tenement coverage to the east and north where interpretations of magnetic surveys indicate the presence of highly magnetic iron-formation subcrop beneath shallow cover. Within the sequence, the priority exploration targets are the parts of the Nimingarra Iron Formation which may be altered to high-grade haematite.

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Fig 2. Regional geological setting of the Yarrie Project in the Pilbara with belts of Archaean sediments (including iron formations) marginal to the granite batholiths.

Significance of Yarrie to Coziron Resources Ltd

Yarrie provides Coziron with exposure to the North Pilbara, which is known to be mineralised with high-grade (premium quality) iron-ore. The tenements are in close proximity to the coast and well serviced by infrastructure, which is used to service existing mining and exploration projects in the area. An assessment of the existing data on the Yarrie project including results from high-resolution airborne magnetic surveys will provide a focus for future work. In addition to the prospectivity for high-grade iron-ore, the project is prospective for copper-gold and associated base-metal mineralisation which, will be assessed as part of the exploration process.

Terms of the Option Agreement

The Company has entered into an Option Agreement to Purchase the Yarrie tenements from XFE Pty Ltd.

The Option Agreement grants Coziron the exclusive right to purchase a 70% interest in the Yarrie tenements by spending $230,000 to explore and conduct due diligence on the Yarrie tenements (“Option”). In the event the Option is exercised, Coziron shall acquire a 70% interest in the Yarrie tenements in a joint venture with XFE Pty Ltd.

The Option expires on 30 September 2014

In the event that the Option is exercised, the consideration payable by Coziron to acquire the 70% interest in the Yarrie tenements is the issue of 100 million Coziron Resources Limited shares at $0.02 per share, plus the reimbursement of $711,234 for prior expenditure expenses.

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ABOUT COZIRON RESOURCES LIMITED

Coziron Resources Limited has exploration focussed on the Yarraloola (1450km[2] of granted tenements), KingX (859km[2] granted and 2127 km[2] under application) and Buddadoo (210km[2] granted) Projects and an option over Shepherd Well (193km[2] ) and Yarrie (1022km[2] ) (Fig 3). The Yarraloola, Buddadoo, Shepherds Well and Yarrie projects have iron-ore as the principal exploration target, while KingX is focused on prospectivity for manganese.

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Fig 3. Location of the Coziron Resources Ltd projects in Western Australia.

For further information please contact Adam Sierakowski on 08 6211 5099.

Competent Persons Statement

The information in this report that relates to mineral resources and exploration results is based on information compiled by Rob Ramsay (BScHons, MSc, PhD) who is a Member of the Australian Institute of Geoscientists. Rob Ramsay is a full-time Consultant Geologist for Coziron and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Rob Ramsay has given his consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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