HAWSONS IRON LTD — Capital/Financing Update 2010

Jun 21, 2010

A N N O U N C E M E N T ASX

22[nd] June 2010

ABOUT CARPENTARIA:

Carpentaria is an exploration company focused on discovering base, precious metals and bulk commodities in eastern Australia. The company currently has interests in iron ore, tin, gold, copper and coal exploration projects

CARPENTARIA’S AIM:

With a strong geo-scientific team discover and build a strong cash flow generating mining operation.

DISCOVERIES TO DATE :

Underwriting Agreement Signed for Exercise of Options

Carpentaria Exploration Limited (ASX:CAP) is pleased to announce that it has reached agreement for Patersons Securities Limited to be appointed as Lead Manager and Underwriter for the exercise of the listed Options exercisable at 30 cents and expiring on 30 June 2010.

As of 18 June 2010 the Company had circa 20.8 million Options on issue, which if exercised would amount to circa $6.25 million. The level of underwriting of these Options will be dependant upon the level of subunderwriting commitments received by Patersons prior to the date of expiry of the Options.

Hawsons Iron Project - NSW Euriowie Tin Project - NSW

Capital Structure:

Ordinary Shares 71,541,301 Total Options 20,856,114

Major Shareholders:

Conglin Yue 14.65% Giralia Resources 9.49%

Share allotments for Options exercised will be made on or before 14 July 2010, being within 10 business days from the date of expiry of the Options.

In accordance with ASX Listing Rule 3.11.3, Carpentaria discloses that Patersons will earn an underwriting fee of 5% of the amount underwritten.

Please contact us If you have any queries

Financial

Cash and deposits on hand A$13.1 million

Chris Powell Company Secretary/CFO

Ground Level, Boundary Court 55 Little Edward Street Spring Hill Queensland 4000 PO Box 1019 Spring Hill Queensland 4004 e-mail: info@capex.net.au

For further information contact: Nick Sheard Executive Chairman Phone: 07 3161 3801

==> picture [581 x 27] intentionally omitted <==

Page 1 of 1