MEDIA / ASX RELEASE

13 November 2014

DRILL PROGRAM COMMENCES AT SOUTH WOODIE WOODIE MANGANESE PROJECT

KEY POINTS

 3500m RC program starts at the South Woodie Woodie manganese project, East Pilbara

 Six target areas to be tested

 Core focus of program: high-grade mineralisation

Australian exploration company, Spitfire Resources Limited (ASX Code: SPI - "Spitfire"), is pleased to announce the commencement of drilling at the Company's South Woodie Woodie Project, located in the East Pilbara region of Western Australia. Spitfire controls 12 exploration licences at South Woodie Woodie covering more than 600 square kilometres.
The drilling program will comprise of a minimum of 40 holes for approximately 3500 metres of Reverse Circulation (RC) drilling. The drilling will be conducted at six defined targets which were selected on the basis of new Gradient Array Induced Polarisation ("GAIP") geophysical interpretative work and recent ground mapping.
Spitfire Resources has conducted 132 square kilometres of GAIP and 43 line kilometres of Dipole Dipole Induced Polarisation ("DDIP") at South Woodie Woodie in the past two years. These geophysical surveys have generated a tremendous amount of data that has taken many months to interpret. The data has been invaluable in furthering the knowledge of the geological setting and it is this knowledge that is helping assist drill targeting.
The drill program, which is expected to run for approximately three weeks (subject to weather conditions) will test one previously drilled and five new areas, the majority of which sit along strike from the Contact area manganese deposits.
Commenting on the drilling program Spitfire's Executive Chairman, James Hamilton, said the primary focus of the program was to hit high-grade ore (plus 40% Mn).

"We've been very successful in the past at drilling low to mid-range manganese at our Tally-Ho and Contact discoveries," Hamilton said. "However, in order to contemplate any potential future production scenario the technical advice we have mandates the discovery of high grade ore to complement these existing deposits. Consequently this program, and any future programs, will be short and sharp and very much focused on securing high grade intercepts."
Spitfire had cash reserves of $A3.6 million at the end of the September 2014 quarter.

Figure 1: Spitfire Resources' tenement holding showing the new target area to be drilled at the South

Woodie Woodie project.

Competent Person's Statement

The information in this report relating to exploration results and mineral resources is based on information compiled by Mr. Stuart Peterson the Company's Consulting Exploration Manager who is a Member of the Australian Institute of Mining and Metallurgy. This information in relation to mineral resources was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. Mr Peterson has sufficient experience relevant to the style of mineralisation and to the type of activity described 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.'

James Hamilton Executive Chairman Spitfire Resources Limited

Telephone: (61-8) 6382 3700
Fax: (61-8) 6382 3777
Email: [email protected]

ENDS