FerrAus announces discovery in East Pilbara

May 29, 2008

May 29 (Iron Ore Daily Post/Press Release) – FerrAus Limited is pleased to announce a major new discovery of iron mineralisation at the Python prospect within the Company’s Davidson Creek project in the East Pilbara region of Western Australia.

The potential size of the Python discovery is 35-45 million tonnes with the iron mineralisation approximately 1,500 metres long by 100-350 metres wide by 30-80 metres thick. Mineralisation remains open both along strike and down dip.

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