FerrAus Limited (ASX:FRS) Mirrin Mirrin Prospect Drilling Results

Perth, June 4, 2010 AEST (ABN Newswire) - FerrAus Limited (ASX:FRS) (PINK:FRRAF) is pleased to announce results from recent RC drill holes at the Mirrin Mirrin Prospect in the Davidson Creek Area.

These results, from exploration holes drilled since March 2010, are outside the defined resource area and indicate that mineralisation is continuous along strike and down dip to the north, with low to medium grade mineralisation to the south interpreted as detrital material.

The resource area for Mirrin Mirrin is a product of 2009 drilling. Exploration efforts this calendar year have built upon that success.

A number of the results at a greater than 55% Fe content cut-off, have excellent "ore" grade interceptors with the best drill hole result identified as a 64 metre intersection at 59.53% Fe.

Exploration RC drilling at Mirrin Mirrin is currently underway. Drilling for this next phase is scheduled to be completed by mid June, ready for resource assessment in July.

Chief Executive Officer, Mike Amundsen, said that these results add further valuable information about the type and location of mineralisation at Davidson Creek.

"The extent of mineralisation at the Mirrin Mirrin Prospect continues to increase and these results will provide the foundation for a resource update scheduled for July.

"In addition to this we are awaiting a resource estimation figure, based on infill drilling results covering the Python-Gwardar-Taipan Prospects that were announced last week, that will include a general resource update for the Davidson Creek Area," he said.

For the complete FerrAus Limited announcement including figures and tables, please view the following link:

http://www.abnnewswire.net/media/en/docs/63016-ASX-FRS-493374.pdf

Contact

Gareth Widger Investor / Media Contact Mob: +61-4-1991-8272