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HAWSONS IRON LTD Capital/Financing Update 2009

Sep 20, 2009

65053_rns_2009-09-20_60a87a55-9d85-4572-ba86-31d849f64038.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

21 September 2009

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Company Announcement Office ASX Limited

4[th] Floor, 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Further information in respect of ASX Announcement in relation to Hughenden Coal Project

As clarification of our earlier announcement in respect of the above, we advise that the consideration referred to in respect of a 20% holding in the new company cannot be determined by the number of shares currently as the new company and its make‐up has yet to be decided. The sum of $300,000 will be paid in cash to cover CAP previous expenditure.

Further information will be made available after the 60 day exclusivity period, during which time due diligence will be carried out.

Yours faithfully,