ASX ANNOUNCEMENT Australasion Resources Ltd ASX: ARH 10 March 2010
Balmoral South Iron Ore Project receives Final State Government Environmental Approval Highlight - Minister for Environment and Youth approves Balmoral South Iron Ore Project Australian iron ore company Australasian Resources Ltd (Australasian or ASX: ARH) is pleased to announce that the Western Australian Minister for Environment and Youth has approved the Balmoral South Iron Ore Project, and released amended Ministerial Conditions for the implementation of the Project (Ministerial Statement 827).

The Balmoral South Iron Ore Project (BSIOP) now has key environmental approval to mine up to 2 billion tonnes of magnetite iron ore at a rate of up to 80 Mtpa, and produce pellets and concentrate for export at a rate of up to 24 Mtpa over a projected 25 year mine life.

Australasian through its 100% subsidiary, International Minerals Pty Ltd currently has contractual rights from the tenement holder, Mineralogy Pty Ltd for the mining and processing of one billion tonnes of magnetite iron ore to produce 300 Mt of high quality product over a 25 (12 Mtpa) year period.

Australasian wishes to acknowledge the support provided by the Project Proponent, Mineralogy Pty Ltd, the Western Australian Government, the Minister for Environment, the Environmental Protection Authority and the many professional consultants for their assistance in the development and finalisation of these key milestone approvals.

Ends For further information contact: Andrew Caruso, Managing Director Australasian Resources Tel: + 61 8 9322 2288 Em: David Tasker Professional Public Relations Tel: + 61 8 9388 0944/ + 61 433 112 936 Em:
Level 4, 5 Mill St, Perth WA 6000 PO Box 7752, Cloisters Square WA 6850 Phone: (+61 8) 9322 2288 Fax: (+61 8) 9324 2164 www.austresources.com.au ABN 46 008 942 809 This message has been sent to you as a subscriber of the PPR mail service. If you no longer wish to be a part of the service, please email with the word "REMOVE" in the Subject line.
--------------------------------------------------------------------------- This email was sent by Felicity Nuttall, PPR (WA) Pty Ltd, Level 1, 588 Hay Street, Subiaco WA 6008 Western Australia to Unsubscribe: http://esp.gewru.com/forms/u/031f7bc/12414/1784972095.html ---------------------------------------------------------------------------