Atlas Iron Limited

Stock Exchange Listing ASX: AGO Company profile Atlas is an emerging, Australian producer which commenced production and exports from its 100% owned Pardoo DSO (Direct Shipping Ore) Project in late 2008. Atlas is an active explorer and developer focused on the discovery and development of high quality iron ore projects within its extensive 15,000km2 landholding, with the principal projects located close to existing infrastructure and within a 150km radius of Port Hedland. With production underway at Pardoo at an initial rate of 1Mtpa, the Wodgina DSO Project is expected to deliver company- changing growth for Atlas in the medium term. Atlas has an initial production target of 2Mtpa for Wodgina with mining targeted to commence in the second quarter of 2010, where Atlas has an agreement in place to access the existing mine infrastructure of the Wodgina Tantalum mine. Production will grow to 3Mtpa by December 2010. Construction in preparation for the commencement of mining at Wodgina is underway. The development of the Abydos and Mt Webber mining areas, with expanded export tonnages from Pardoo and Wodgina will underpin Atlas’ objective of increasing DSO production rate to 12Mtpa by 2012.

Click here to access the company's 2009 Annual Report

Recent Developments

Atlas has pursued an aggressive exploration campaign, in spite of the Global Financial Crisis, which has delivered significant increases in Direct Shipping Ore (DSO) resources. Furthermore, the Company recently completed a merger with the formally ASX listed Warwick Resources. With significant resource potential in the Newman area, the Company is active in exploration with a view to growing the Company’s future production to 26Mtpa.

Future Outlook

• Further growth in resources and reserves – exploration target of 400-750Mt of DSO grading 57-60% Fe • Low-cost expansion of Pardoo DSO Project to 2.5Mtpa • Targeting first production at Wodgina DSO Project by the first quarter of 2010 at 2Mtpa growing to 3Mtpa later that year • Complete Abydos Definitive Feasibility Study and 3Mtpa permitting • Grow production at Abydos later this year • Maintain a dynamic, safe, productive and family friendly workplace that continues to attract and retain a high calibre workforce • Create the largest positive impact on the largest number of people • Deliver strong positive and sustainable indigenous outcomes Operations

• Currently mining at Pardoo at an annualised rate in excess of 1Mtpa growing to 2.5Mtpa • construction underway for the commencement of mining (second quarter of 2010) • Actively exploring south of Port Hedland at Wodgina, Mt Webber and Abydos • Resource and reserve definition ongoing at Wodgina, Abydos and Mt Webber • Exploration underway at the recently acquired Newman Project area

This profile is provided by Atlas Iron Limited; ASX takes no responsibility for the information included. Participation in this event should not be taken as an endorsement by ASX of the company.

PO Box 223, West Perth, Western , 6872 Telephone: +61 8 9476 7900 Email: [email protected] Website: www.atlasiron.com.au

Significant Contractual Arrangements

• 100% of the DSO ore production from Pardoo is covered by four separate off-take agreements with mid-sized Chinese steel mills • 30% of the DSO ore production from the Wodgina mine is covered by two separate off-take arrangements with mid- sized Chinese steel mills. Off take negotiations continue for the remaining Wodgina production

Resources / Reserves Estimates

Pardoo DSO Project • Project Resource: 28.1Mt at 56.1% Fe • Project Reserve: 8.4Mt at 57.4% Fe Wodgina DSO Project • Project Resource: 62.9Mt at 56.6% Fe (Wodgina and Abydos) • Project Reserve: 28.4Mt at 57.8% Fe (Wodgina and Abydos) Mt Webber DSO Project • Drill results to date include: 42m at 60.9% Fe, 38m at 61.4% Fe • Project Resource 43.7Mt at 57.4% Fe Ridley Magnetite Project • Project Resource: 2 billion tonnes at 36.5% Fe • Project Reserve: 970Mt at 36% Fe

This profile is provided by Atlas Iron Limited; ASX takes no responsibility for the information included. Participation in this event should not be taken as an endorsement by ASX of the company.

PO Box 223, West Perth, , 6872 Telephone: +61 8 9476 7900 Email: [email protected] Website: www.atlasiron.com.au