Warwick Resources announces Caramulla South iron ore drilling results

July 16, 2008

July 15th (Steel Guru) – Pilbara explorer Warwick Resources Limited announced significant near surface iron ore intersections from Phase 1 resource drilling at its 100% owned Caramulla South iron ore project, located near Newman in WA.

Caramulla South lies 19 kilometer to the east of BHP Billiton’s Jimblebar iron ore mine and is strategically located between Ferraus Ltd’s Robertson Range iron ore project and the nearest rail head. The project consists of a 4 kilometer long east west striking strip of Marra Mamba Formation located near the northern margin of the exploration license. Nearly 2 kilometer of iron enriched Marra Mamba Formation has been mapped in outcrop, while a further 2 kilometer of projected strike is concealed beneath sand and alluvial cover.

The resource drilling program has outlined another significant iron ore deposit for the Company, with best results from the first phase including 36m @ 57.73% Fe from 2m depth. It follows the promising scout RC results from Caramulla South in November last year.

Mr Bruce McQuitty MD of Warwick Resources said that the results confirmed the potential of the strategically located Caramulla South project, with a resource estimation expected next month. He added that “The project is in a prime iron ore location, and has the advantage of a low phosphorous content, minimal overburden and virtually no groundwater. These characteristics also apply to the Company’s recently discovered Jimblebar Range iron ore deposit which is only 8 kilometer from BHP Billiton’s railway.”

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