Grange Resources Limited

Toro Energy Limited (ASX:TOE) are pleased to announce the execution of comprehensive legal documentation with MPI which sets out the commercial and legal framework for the purchase of certain mining tenements adjacent to the Centipede deposit at Toro's Wiluna Uranium Project in Western Australia. Details of this transaction were announced in ASX release dated 17 February 2011.

Iron Road Limited (ASX:IRD) announce a substantial resource upgrade at the Central Eyre Iron Project, with the Mineral Resources again tripling in size, in this instance from 328Mt to 1.2Bt. The resource upgrade comes as part of an ongoing Prefeasibility Study, evaluating an initial 10 million tonnes per annum high grade iron concentrate export operation expanding to 20 million tonnes per annum.

Russell Clark (Managing Director) was appointed Managing Director of Grange Resources Limited on 6 March 2008. He was previously the Regional Group Executive of Newmont Asia Pacific providing management oversight of its Australian and New Zealand gold mining operations. Mr. Clark holds a Mining Engineering degree from the Royal School of Mines, London, UK and a Graduate Diploma from the Securities Institute of Australia.

The Australian shares Monday delivered a weak opening but closed higher for a third consecutive day. Gold stocks led the gains in a quiet session. The benchmark S&P/ASX200 index was up 13.6 points, or 0.31 per cent, at 4,409.9 points, while the broader All Ordinaries index gained 15 points, or 0.34 per cent, to 4,429.5 points.

The Australia share market Monday closed firmer on hope of a gradual appreciation of the Chinese yuan. At the close, the benchmark S&P/ASX200 index rose 60.7 points, or 1.33 per cent, to 4612.6 points and the broader All Ordinaries index added 58.6 points, or 1.28 per cent, to 4632.7 points. The market was also inspired by the news that Australian federal government struck a A$11 billion deal with Telstra over the planned national broadband network.

Australian magnetite producer Grange Resources Limited said it has secured a 25 per cent increase interim pricing for iron ore pellets.

The Australian stock market closed more than two per cent lower on Friday following weakness in United States markets caused by doubts over a rescue package for US car makers. The benchmark S&P/ASX200 index had fallen 87.6 points, or 2.43 per cent, to 3,510.4, while the broader All Ordinaries index lost 81.7 points, or 2.31 per cent, to 3,452.5. As the US Senate's rejected the $14-billion bailout for American automotive makers, the stock market is expected to continue moving downward on the negative news.

Overnight US stocks plummeted for a second day with a 4.85% drop as global markets plunged on fears of a deep worldwide recession. Yesterday the 150 basis points interest rate cut of Britain also surprised the market. Economists and analysts questioned the need for such a big cut and believe the economy must be in seriously risk with more dangers ahead. Investors ignored big interest rate cuts in Europe to send markets into steep falls overnight. The key Asian indicators also dropped more than 6.5 percent and wiping out much of the previous rally that had preceded the presidential election in the United States.

US political leaders have struck an agreement in principle on a $US700 billion bailout plan to revive the troubled financial system. It is hoped both houses of US congress will vote on the plan within days. Wall Street and European markets have reacted positively to the news, with major indices recording gains of around two per cent.

Grange Resources Limited.