HAWSONS IRON LTD — Capital/Financing Update 2007

Nov 14, 2007

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ASX ANNOUNCEMENT

• TRADING IN CARPENTARIA EXPLORATION LIMITED COMMENCED AT 10.00AM ON WEDNESDAY 14 NOVEMBER 2007

• ASX CODE "CAP"

Giralia Resources NL ("Giralia") has been advised that Carpentaria Exploration Limited ("Carpentaria") has received confirmation from the Australian Stock Exchange of its admittance to the Official List of ASX. Quotation of Carpentaria 's securities commenced at 10.00am WDST on Wednesday 14 November 2007 (ASX code "CAP").

Led by former Inco Vice President - Exploration and Global Exploration Manager for MIM Holdings Ltd, Nick Sheard, Carpentaria is a spin-off of the eastern states assets which were held by Giralia, consisting of 5 projects in Queensland and 2 in New South Wales. Carpentaria's immediate focus on listing will be to carry out exploration work on those tenements.

Carpentaria's $7.5 million Initial Public Offer was oversubscribed and was closed early on 22 October 2007, with 50% of the IPO set aside as a Priority Offer to Giralia shareholders.

Giralia will own 34 million Carpentaria shares on listing, representing approximately 52% of Carpentaria's issued capital. Within approximately two months of the listing of Carpentaria, Giralia will distribute approximately 27.2 million Carpentaria shares to Giralia shareholders registered on a record date to be advised, in a pro rata in-specie distribution. Giralia will retain approximately 6.8 million Carpentaria shares (a 10.5% stake).

B R Acutt Company Secretary

15 November 2007 Perth, WA

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by R M Joyce, who is a Member of the Australasian Institute of Mining and Metallurgy. R M Joyce 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'. R M Joyce consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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PO Box 1665, West Perth WA 6872 Level 2, 33 Ord Street, West Perth WA 6005 Email: info@giralia.com.au Web: www.giralia.com.au Tel: (+61-8) 9481 4440 Fax: (+61-8) 9321 0070