Spitfire Resources Ltd (ASX: SPI)

     Spitfire Secures Key Pilbara Manganese Tenement

Success in Strongly Contested Ballot for 111km2 Tenement Located Immediately North of

Nicholas Downs Manganese Project

Spitfire Resources Limited (ASX: SPI � �Spitfire� or �the Company�) is pleased to advise that it has been successful in a ballot to determine competing applications for a highly prospective 111 sq.km manganese exploration project in the East Pilbara region of Western Australia.

Spitfire has secured the highly strategic tenement, E45/875, as a result of a partial surrender of the ground by Consolidated Minerals, which operates the world-class 1Mtpa Woodie Woodie mine, located approximately 120km to the north (see Figure 1).

The tenement is located some 50km south-east of Spitfire�s South Woodie Woodie Project, including the granted tenements covering its Tally-Ho Manganese Deposit and immediately north of the Nicholas Downs Manganese Project.

Mineral Resources Limited (ASX: MIN) recently commenced mining at Nicholas Downs under an agreement with Hancock Prospecting, with a production target of 40,000 tonnes per month of 40% ferruginous manganese. First shipments are scheduled for April 2010.

Spitfire�s application for the ground was contested by FMG Pilbara, Murchison Metals and Hancock Balfour Downs.

The new tenement increases Spitfire�s total East Pilbara ground holding to over 1,500 sq km, comprising its original 80%-owned tenement holding of 430.1 sq.km at South Woodie Woodie, applications for a further 1,015.1 sq.km to the south-east and the new application of 110.7 sq.km (see Figure 2). The previous and new applications, totalling 1,125.8 sq.km, are 100% owned by Spitfire.

Spitfire is scheduled to commence drilling this week at South Woodie Woodie, testing an initial round of 16 targets for high-grade manganese.

In addition to the drill program, work during the first half of this year will include an aerial EM survey, a detailed mapping project and a rehabilitation program.

The updated JORC resource for the Tally-Ho Deposit at South Woodie Woodie is scheduled to be completed by mid-April.

ENDS

Released by:                                                      On behalf of:

Mr. Nicholas Read                                           Mr. James Hamilton

Read Corporate                                                Executive Chairman

Telephone: (61-8) 9388 1474                       Spitfire Resources Limited

                                                                                Telephone: (61-8) 6382 3700

                                                                                www.spitfireresources.com

Competent Person�s Statement

The information in this report relating to exploration results and mineral resources is based on information compiled by Mr. N. Cull who is a Member of the Australian Institute of Geoscientists. Mr. Cull is Exploration Manager for Spitfire Resources Ltd, and consents to the inclusion in this type of report of the information as presented. He 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.�

About Spitfire Resources

Spitfire Resources Limited (ASX Code: SPI) is an emerging Australian resource development company focused on the carbon steel materials sector. Spitfire�s flagship asset is the South Woodie Woodie Manganese Project, which is located approximately 50km down-strike to the south from the 1Mtpa Woodie Woodie Manganese Mine in the East Pilbara region of Western Australia.

Spitfire�s initial exploration success at South Woodie Woodie has been within the Southern Target Area, where it has defined a near-surface manganese deposit at the Tally-Ho Prospect, in an area which has had little historical exploration.

Spitfire�s principal focus will remain the exploration and evaluation of manganese deposits in the East Pilbara, although it has also acquired a portfolio of advanced thermal coal projects in Tasmania and prospective base metals tenure in the Northern Territory which offer the potential for future diversification.

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au

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