The Company Announcements Office
ASX Limited Via E Lodgement 31 October 2012

QUARTERLY ACTIVITIES REPORT TO 30 SEPTEMBER 2012 HIGHLIGHTS

- Coziron completed the share sale and purchase agreements with Zanthus Resources Pty Ltd, KingX Pty Ltd and Buddadoo Metals Pty Ltd as well as a capital raising for $2.06 million.
- Field activities have commenced on both the Yarraloola Iron-ore and

Earaheedy Manganese Projects.

- Rock-chip sampling at Yarraloola on the Marra Mamba, Brockman and Channel Iron Formations has recovered samples with Fe>55% that require follow-up work.

- A 4330 line km airborne magnetic radiometric survey has been completed by UTS covering about 400km2 of manganiferous outcrop and adjacent rocks on the KingX project in the Earaheedy Basin.

- RC Drill results from the Yarraloola Project have identified prospectivity for gold and base-metal mineralization in graphitic and sulphidic shales overlying the Marra Mamba Iron Formation.

CORPORATE

On 24 July 2012 Coziron entered into three deeds to vary the terms of the three Share Sale and Purchase Agreements for the acquisition of Zanthus Resources Pty Ltd (Yarraloola Iron- ore Project), King X Pty Ltd (Earaheedy Manganese and Iron Project) and Buddadoo Metals
Pty Ltd (Buddadoo Iron-titanium Project) dated 30 December 2011 (the "Agreements").

Coziron Resources Limited

ABN: 91 112 866 869

Level 24, 44 St George's Terrace

Perth Western Australia 6000

PO Box Z5183

Perth WA 6831

Phone: +61 8 6211 5099 Facsimile:+61 8 9218 8875

Website: www.coziron.com


All three Agreements are on substantially the same terms and are varied by the execution of Deeds of Variation and Restatement (the "Deeds"). The material variations to the Agreements as a result of the execution of the Deeds are as follows:
1) at all times until completion, the purchaser having completed a capital raising, maintaining an amount of not less than $2 million in its account designated the "Share Proceeds Account", or such lesser amount as the vendor approves.
2) the shareholders of the Company approving the transaction.
3) If the conditions are not satisfied by 17 September 2012 or such later date as the parties may agree in writing then the vendor may terminate the Agreements by giving written notice to the purchaser to that effect.
The Company has successfully completed a fund raising of $2,067,000 at $0.10 per share in satisfaction of the first condition along with obtaining shareholder approval for the transaction at the general meeting held on 13 September 2012. As a result the Company successfully completed the transaction with the Creasy Group entities and now holds an 85% interest in the three projects acquired.
The location of the projects is presented on Fig 1 and a summary of the activities undertaken on the three projects over the last quarter is as follows:

Fig 1. Location of the Coziron Projects in Western Australia.

YARRALOOLA PROJECT

Background

The Yarraloola Project is located 150km south-west of Karratha and covers the western section of the iron-ore rich Hamersley Basin and the north-western part of the adjacent Ashburton Trough which hosts gold, base-metals (copper, lead, and zinc) and detrital iron- ore deposits. The Coziron tenements cover approximately a 50km strike length of the Marra Mamba and Brockman Iron Formations which produce most of the iron-ore from the Hamersley Province (Fig 2). The tenements are also adjacent to the Rio Tinto operated Mesa A and Mesa J mines which extract detrital or channel iron-ores (CID). CID deposits outcrop on the Coziron tenements.

Fig 2. Yarraloola iron-ore project showing the distribution of the Marra Mamba and
Brockman Iron Formations, stage 1 drilled targets (1-7) and new stage 2 exploration targets.

Activities

Having completed all heritage surveys and approvals in late March, the Company successfully undertook three phases of work during the Quarter. Field activities during the period included:
1. Established access to selected sites for an initial RC drill program on targets generated by historical work on the Yarraloola Project. The program completed 4,090 metres of RC drilling in 65 holes testing seven targets reporting surface iron-ore enrichment which were essentially interpreted as the projected outcrop of the uppermost part of the Marra Mamba Iron Formation (Fig 2).
2. Sampling and geochemical assaying of the RC-drill chips for iron-ore and other precious (gold, platinum and palladium) and base-metals (copper, lead, zinc).
3. Reconnaissance soil sampling of an area on the eastern side of the tenements which appears prospective for gold mineralisation.
4. Follow-up mapping and rock-chip sampling of the iron-formations (Marra Mamba, Brockman, Boolgeeda and Channel Iron Deposits) to better assess variations of grade and mineralisation style.

Results

The main results from the work programmes reported during the quarter can be summarised as follows:
1. The drilling programme showed that surface mapped enrichments of iron-ore represented a range of different shale horizons either within the Wittenoom Dolomite or overlying the Marra Mamba Iron Formation.
2. Shales overlying the Marra Mamba Iron Formation are graphitic and sulphidic and include horizons which are anomalous in Au (max = 24ppb) Cu (max = 382ppm), Pb (max = 95ppm), Zn (max = 1460ppm), Co (max = 91ppm), As (max = 107ppm) and U (max = 4.2ppm).
3. Rock-chip sampling from the Marra Mamba, Brockman and Detrital/Channel Iron has recovered samples with Fe>55wt% which require follow-up work (Table 1).
4. Mapping, rock-chip sampling and a review of historical results continues to generate new targets for stage 2 drilling (Fig 2).

Table 1: A selection of representative XRF analyses from rock-chip samples that report
Fe>55%.

Sample

Easting

Northing

Rock

type

Fe

%

SiO2

%

Al2O3

%

CaO

%

MnO

%

P

%

LOI*

Marra Mamba

RR2012-020

421244

7625805

Shale

55.39

10.94

0.78

0.08

0.61

0.07

7.79

RR2012-039

421241

7629951

BIF

64.83

5.82

0.36

0.08

0.03

0.01

0.57

RR2012-053

421375

7631897

Shale

55.36

15.87

0.21

1.01

0.09

0.07

3.09

RR2012-054

421488

7631970

Shale

58.78

5.33

0.65

0.04

0.12

0.07

9.26

Brockman

RR2012-009

420259

7626683

Detrital

57.58

8.88

2.43

0.99

0.03

0.07

3.8

RR2012-046

413824

7601914

Breccia

59.89

3.52

1.63

0.12

0.54

0.1

6.89

RR2012-120

419808

7607483

BIF

55.37

17.03

0.16

0.02

0.09

0.03

3.54

RR2012-124

420522

7604968

BIF

55.26

16.85

0.15

0.04

0.01

0.06

3.91

Laterite/Conglomerate

RR2012-014

421544

7624810

56.94

7.81

1.56

0.18

0.49

0.14

7.98

RR2012-099

419117

7612302

57.25

9.68

1.35

0.12

0.06

0.05

6.8

RR2012-100

419113

7612377

62.66

6.56

0.29

0.1

0.09

0.04

3.29

5. Easting and Northing - GDA94 - Zone 50; *LOI at 1100°C

Results Outstanding

1. A total of 339 soil samples have been submitted to Ultratrace Laboratories, results are yet to be received.
2. An additional 112 rock-chip samples have been submitted to Ultratrace Laboratories, results are yet to be received.

KINGX PROJECT

Project Background

This project is located 130km north-east of Wiluna and contains a number of outcrops of manganese mineralisation in the Earaheedy Basin. The manganiferous outcrops are consistently located in an interval above pelletal iron-formation and towards the base of an overlying sequence of carbonates. This style and setting of the mineralisation is similar to the Kalahari Basin in southern Africa which hosts the Worlds largest accumulations of manganese. The region is also regarded as being prospective for sediment-hosted copper and other base-metal mineralisation.

Activities

The Company has commenced exploration on the King X project during the quarter. UTS Geophysics was contracted and has recently completed a 4,330 line km airborne magnetic/radiometric survey covering approximately 400km2 on 100m line spacing and at a height of about 50m. The survey outline was designed to include outcropping manganese mineralisation in at least two different stratigraphic locations (Fig 3). Results are not yet

available but will be important in constraining the geological and structural settings of the outcropping manganese mineralisation and assist in the selection of drill-targets.

Fig 3. Outline of the UTS airborne magnetic-radiometric survey on the KingX tenements in the Earaheedy Basin draped over the topography

BUDDADOO PROJECT

Background

The Buddadoo Project in the Yilgarn, 200km east of Geraldton, covers part of an Archaean- age Greenstone Belt which was intruded later by gabbroic rocks. The mafic to felsic rocks in the greenstone belt which have been disrupted by major faults and fractures are prospective for gold and base-metal mineralisation. The later gabbroic rocks host vanadiferous and titaniferous magnetite.
The most advanced targets on Buddadoo is a drilled interval of V-Ti-magnetite mineralisation in gabbro and drilled intervals of copper-gold and base-metals felsic rocks amongst the greenstones.

Activities

Ground work has yet to commence on the project but the following work is planned for the next quarter:

1. Define the V-Ti-Fe-ore mineralogy to determine the optimal down-stream processing options.
2. Undertake reconnaissance mapping, rock-chip and soil-sampling over areas of Cu- Au mineralisation.

AGAM IRON SANDS PROJECT

The Company maintains its interest in the Agam Iron Sands project, located on the island of Sumatra. The Board is currently considering alternatives for the project, including further work as recommended by the consultant geologists or sale to a third party.

Competent Persons Statement

The information in this report that relates to mineral resources and exploration results is based on information compiled by Rob Ramsay BSc(Hons), MSc PhD. Rob Ramsay is a Member of the Australian Institute of Geoscientists and full-time Consultant Geologist for Coziron and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Rob Ramsay has given his consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.
For more further information regarding this announcement please contact Adam Sierakowski on 08 6211 5099.

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