Project SUSA in the state of Rio Grande Norte, Brazil, is an existing mining license. Zamin Ferrous acquired Susa in 2010.

• 100 Mt of potential resource at 30% Fe to 35% Fe in the Mining License and approximately 300 Mt of resources in exploration licenses.

• 50,000 tonnes produced and first shipment planned for August 2011.

• Port of Natal is about 250 km from the mine by road.

• Mine is fully serviced by utilities and infrastructure.

• Planned installation of Dry Magnetic Separators to the existing crusher being evaluated for further beneficiation of ore below 60% Fe.

• Objective is to build a 5 Mtpa production asset with existing or very low infrastructure investment.