HAWSONS IRON LTD — M&A Activity 2010

Jul 15, 2010

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

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16 July 2010

Mr Greg Seeto Adviser, Issuers (Brisbane) ASX Limited Level 5 Riverside Centre 123 Eagle Street BRISBANE QLD 4000

Carpentaria announces withdrawal of proposal to make a takeover offer by Conglin

On 13 July 2010, Carpentaria Exploration Limited ( Carpentaria ) signed a conditional non-binding and indicative letter with Australia Conglin International Investment Group Pty Ltd ( Conglin ) pursuant to which Conglin proposed to make a takeover bid to acquire all of the shares in Carpentaria not already owned or controlled by Conglin ( Proposal ).

On the basis of that letter, and in good faith, Carpentaria on 13 July 2010 entered into a Confidentiality and Exclusivity Deed with Conglin. ( Deed ). Carpentaria is no longer bound by the terms of this Deed.

As part of its evaluation of the Proposal, Carpentaria had a number of discussions with Conglin including discussions regarding the price at which the Carpentaria Board would recommend the Proposal to its shareholders.

At approximately 7:00 p.m. on 15 July 2010, Carpentaria received a letter from Conglin advising that they had decided not to proceed with the Proposal. No reasons were given regarding their decision not to proceed.

The withdrawal of this Proposal allows Carpentaria to continue with its successful exploration campaigns on its projects including drilling, scoping and pre-feasibilty work at the Hawsons Iron Project, and soon to commence drilling at the Euriowie Tin project and Panama Hat Gold project.

For further information:

Investor enquiries, please contact: Chris Powell Company Secretary/CFO Telephone: +61 7 3162 9003

Ground Level, Boundary Court, 55 Little Edward Street, Springhill Queensland 4000 PO Box 1019 Spring Hill QLD 4004 Phone: + 61 7 3161 3801 Fax: + 61 7 3161 3786 e-mail: info@capex.net.au