ASX and Media Release

14 September 2009

FURTHER EXPLORATION SUCCESS AT WESTERN CREEK

KEY POINTS

?         Strong results from last 25 holes of Phase 2 RC drilling at Western Creek, including:

                        38m @ 57.2% Fe from 16m depth (WRKRC426),

30m @ 58.2% Fe from 10m depth (WRKRC421),

                        28m @ 59.6% Fe from 8m depth (WRKRC406),

                        24m @ 57.0% Fe from 16m depth (WRKRC411), and

20m @ 57.7% Fe from 12m depth (WRKRC407

?         Mineralisation remains open to west and south

?         Purchase of two tenements adjacent to Western Creek with identified Marra Mamba iron mineralisation and CID targets

Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced further strong iron intersections from phase 2 RC drilling at its 100% owned Western Creek iron ore project, located 20km to the west of Newman in Western Australia's Pilbara region (see Figure 1).

The latest results complete this phase of drilling at Western Creek (see Tables 1 & 2) and follow highly encouraging results received from the first 9 holes, for example 26m @ 59.1% Fe (WRKRC404), 26m @ 57.8% Fe (WRK397) and 20m @ 59.2% Fe (WRKRC398) (see announcement dated 31 August 2009).

The drilling targeted a 3km long x 200-300m wide outcrop of iron enriched Marra Mamba Formation located in the northwest corner of the project tenement E52/2160. Significantly, the latest drill results demonstrate that the mineralisation is still open to the west and to the south (see Figure 2).

The Company has also agreed to purchase two tenements that adjoin the Western Creek project. One of the tenements contains mapped extensions to the Marra Mamba iron mineralisation at Western Creek. Open file exploration records show that BHP targeted this mineralisation in the early 1990s with two RC drill holes, obtaining intersections of 15m @ 58.6% Fe (EXR306) and 3m @ 58.9% Fe (EXR418) (see Table 3 and Figure 2 for further details). Significantly, the Company's latest drilling results returned strong intersections of 38m @ 57.2% Fe (WRKRC426) and 16m @ 58.7% Fe (WRKRC427) immediately to the south of the tenement boundary. The other tenement contains a 4km long channel iron (CID) target, which has been interpreted from Landsat imagery.  The granted tenements (E52/2300 and E52/2299) were purchased from an individual for 400,000 fully paid ordinary Warwick shares.

Warwick Resources Managing Director Bruce McQuitty said the drilling results and the purchase of additional tenure had increased the DSO potential at Western Creek.

"These results show that the mineralisation remains open and extends onto the recently acquired tenure. A further drilling programme is required to evaluate this additional potential. We remain on track to deliver our initial resource estimate at Western Creek this year," Mr McQuitty said.

These drilling results and tenement acquisitions follow the announcement last week of a merger by schemes of arrangement with Atlas Iron Limited (ASX:AGO).  Shareholders are advised that the Company is finalising the scheme booklet and has appointed BDO Corporate Finance to prepare an independent experts report which will form part of the scheme booklet that will be despatched to shareholders prior to the AGM.  

The Company also advises that RC drilling is continuing at the Woggaginna DSO Project.

For further information, please contact:

Bruce McQuitty

Warwick Resources Limited

Phone: 08 9227 6680 / Mobile: 0409 929 121

Email: bmcquitty@warwickresources.com.au

Website: www.warwickresources.com.au

Warrick Hazeldine

Purple Communications

Phone: 08 6314 6300 / Mobile: 0417 944 616

Figure 1: Location of Western Creek project

Figure 2: Drilling Results at Western Creek

About Warwick Resources Limited

Warwick Resources is an emerging iron ore explorer with a diverse asset portfolio near Newman in the Pilbara region of Western Australia which is host to world class iron ore mines. Following the acquisition of iron rights on Hannans Reward's Jigalong project, the Company's projects have a combined area of over 5,000km?.  

The Company recently announced the terms of a merger by scheme of arrangement with Atlas Iron Limited (see announcement dated 8 September 2009) which is expected to considered by shareholders at the Company's annual general meeting scheduled for 30 November 2009.

The status of Warwick's iron ore projects near Newman is shown in Table 1: 

Table 1:  Status of Warwick's iron ore projects near Newman

^[1] Warwick has not yet reported Mineral Resources at Woggaginna, Western Creek or Jigalong and any discussion in relation to targets and Mineral Resources is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Competent Person Statement

The information in this report to which this statement is attached that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Bruce McQuitty, who is a Member of the Australian Institute of Geoscientists. Mr McQuitty is a full-time employee of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity they are 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'. Mr McQuitty consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Forward Looking and Exploration Target Statements

Some statements in this announcement regarding future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company's exploration programme, outlook, target sizes, resource and mineralised material estimates. They include statements preceded by words such as "potential", "target", "scheduled", "planned", "estimate", "possible", "future", "prospective" and similar expressions. The terms "Direct Shipping Ore (DSO)", "Target" and "Exploration Target", where used in this announcement, should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature and it is uncertain if further exploration or feasibility study will result in the determination of a Mineral Resource or Reserve.

Table 1: Western Creek final Phase 2 RC drill results

RC drill samples were collected as 2m riffle split samples. All samples were analysed by X-Ray Fluorescence Spectrometry (XRF). Loss on Ignition (LOI) values were determined using Thermo-Gravimetric Analyses at 1000^oC. Results are reported on a dry sample basis. Intersections have been calculated using 55% Fe lower cut-off grade, except where otherwise indicated, and a maximum of 6 consecutive metres of internal dilution. True widths are estimated to be between 70% and 100% of downhole widths. # denotes hole ended in mineralisation. No significant results were recorded in WRKRC410, 414 and 429.

Table 2: Drill hole collar details

Coordinates are MGA Zone 50 (GDA94) projection.

Table 3: Results of prior drilling by BHP on ground now subject to E52/2300

3m sample intervals, 55% Fe cut-off. Data sourced from WAMEX Item 8813. Drill hole collar locations have been resurveyed by Warwick's field personnel.

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