Murchison Metals Limited

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that its 50% owned Oakajee Port & Rail (OPR) has entered into Memoranda of Understanding (MOUs) with each of the three selected potential foundation customers for its planned 45mtpa port and rail infrastructure project.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce its quarterly report ended June 2010.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) notes the announcement by POSCO Australia Pty Ltd that it has increased its shareholding in Murchison to 13.91%, making it Murchison's largest shareholder.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that Crosslands Resources Ltd has secured non-binding Letters of Intent (LOIs) from North Asian steel mills to purchase more than 50 million tonnes per annum of iron products from the Jack Hills Expansion Project.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that Andrew Caruso has been appointed Chief Executive Officer of Crosslands Resources Ltd ("Crosslands").

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announced that the Government of Western Australia has included funding for the development of Oakajee Port in its 2010-2011 Budget handed down yesterday by Premier and Treasurer Colin Barnett.

As at 31 March 2010, Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) was debt free and had cash and liquid investments of A$85.4 million, a decrease of A$17.0 million from the previous quarter. Included in this cash outflow are amounts paid to Crosslands and OPR of A$14.7 million to finance feasibility studies and exploration costs. Interest earned on investments for the quarter amounted to A$1.1 million.

Magnetic Resources (ASX:MAU) has applied for an exploration licence covering a substantial magnetic anomaly north of the Tallering Peak iron ore operation. The new tenement (called the Malara project) is situated 50km north of Tallering Peak some 210km by road from the port of Geraldton and forms part of Magnetic's search for iron ore close to existing infrastructure. The railhead at Mullewa is situated about 115km south of Malara.

ABN Newswire stocks to watch today include: Murchison Metals (ASX:MMX) (PINK:MUMTF), Iron Road Limited (ASX:IRD), ABM Resources NL (ASX:ABU), iSOFT Group Limited (ASX:ISF) and Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF).

ABN Newswire stocks to watch today include: Murchison Metals Limited (ASX:MMX) (PINK:MUMTF), Burleson Energy Limited (ASX:BUR), Texon Petroleum Limited (ASX:TXN) and Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF).