IGO LIMITED — Capital/Financing Update 2014

Jan 13, 2014

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ASX Code: TRF

14[th] January, 2013

Ian Finch

Managing Director

Neil McKay Director

Trafford Earns 51% Equity of Twin Peaks and Moorarie Rocks Iron Ore JV, Western Australia

Mark Le Grange Director

Allan Trench Director

SHARE REGISTRY

Advanced Share Registry Services

150 Stirling Highway Nedlands WA 6009

T: +61 (08) 9389 8033 F: +61 (08) 9389 7871

REGISTERED OFFICE

Level 2, 679 Murray St West Perth, WA, 6005

P: +61 (08) 9485 1040 F: +61 (08) 9485 1050

Trafford Resources Limited (TRF: ASX) is pleased to announce that it has satisfied the earning obligation for 51% (Earned Interest) of the Twin Peaks and Moorarie Rocks Iron Ore Joint Venture with Independence Group (IGO: ASX). The projects are located northeast of Geraldton in the Murchison region of Western Australia (Figure 1).

Elsewhere in the Mid-West region (along strike to south, north and east of Twin Peaks and Moorarie Rocks) similar horizons host open cut DSO and magnetite mining operations including Tallering Peak, Jack Hills, Extension Hill and Karara.

The terms of the Joint Venture give Trafford the right to earn equity in the project by expending two million dollars within two years for 51% Equity and a further 29% by spending an additional three million dollars over the next three years to a total of 80% equity.

Over the last 18 months extensive exploration on the ground by Trafford has included mapping and sampling, detailed magnetic and gravity interpretation, metallurgical test work and over 5000m of drilling. Details can found in previous ASX releases dated 16/01/2013, 13/02/2013 and 18/03/2013.

The work has succeeded in defining a previously unknown 20 Km long iron ore trend with 18 new iron ore prospects including high grade (+65% Fe) DSO hematite, extensive hematite and magnetite deposits. Strong potential for channel iron deposits have also been identified by drilling at Twin Peaks.

Drilling at the Woolbung Peak prospect defined continuous DSO hematite from surface to a depth of 145m. All DSO intersections contain very low impurities and indicate a deposit capable of producing a premium product. The style of mineralisation and continuous nature of the DSO hematite intersected at Woolbung Peak is similar to Mt Gibson’s Tallering Peak operation located just 60km’s south of Twin Peaks.

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Ian Finch

Managing Director

Trafford Resources Limited

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Figure 1: Midwest Iron Ore Projects and Trafford/Independence JV tenements

Trafford Earns 51% Equity of Twin Peaks and Moorarie Rocks Iron Ore JV, Western Australia

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