Iron ore tenement portfolio is located in Brazil’s emerging iron ore region in the state of Bahia.Government funding and construction of new East West Rail line has already commenced and is designed to pass directly through Cabral’s tenement portfolio.Rail section from the new port north of Ilheus past the Cabral tenements location to Caetité is under construction now and expected to be operational by July 2012.

Initial assessment indicates potential target tonnages of up to 644Mt of quality medium to coarse grained magnetite iron ore within existing Cabral tenement portfolio.Cabral has already identified additional areas for acquisition and consolidation to grow the regional portfolio target to over 1.0 billion tonnes of beneficiable magnetite iron ore.

Low cost investment with Cabral’s tenement portfolio acquired for approximately A$12.75 million via combination of cash and scrip consideration.Cabral has a first class Chinese contact network with the ability to source top tier Chinese partners, legally binding offtake arrangements, legally binding project funding and the full suite of infrastructure solutions for the accelerated development of Cabral’s portfolio.

50% equity interest in unique JV company, CRMSC (Australia) Pty Limited, with large China state owned enterprise, China Railway Materials Commercial Corporation (“CRM”).Uranium exploration tenements adjacent to BHP’s Yeelirrie Project in WA. Cabral to aggressively pursue its objective of becoming an 4.0-10.0Mtpa concentrate iron ore producer by 2015.

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