Chameleon Mining Nl

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) (Murchison) is pleased to provide an update on the Federal Court proceedings brought by Chameleon Mining (ASX:CHM) against Murchison, Crosslands Resources Ltd and others.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) advises that Justice Jacobson has today handed down his decision in the Federal Court action brought by Chameleon Mining (ASX:CHM) against Murchison, Crosslands Resources Ltd ("Crosslands") and others.

As at 30 September 2009 Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) was debt free and had cash and liquid investments of A$108 million, a decrease of A$17.4 million from the previous quarter. Included in this cash outflow are amounts paid to Crosslands and OPR of A$13.9 million to finance feasibility studies and exploration costs. Interest earned on investments for the quarter amounted to A$1.1 million.

As at 30 June 2009 Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) was debt free and had cash and liquid investments of A$126 million, a decrease of A$17.7 million from the previous quarter. Included in this cash outflow are amounts paid to Crosslands and OPR of A$15.3 million to finance feasibility studies and exploration costs. Interest earned on investments for the quarter amounted to A$1.3 million.

Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) As at 31 March 2009 the Company was debt free and had cash and liquid investments of A$143 million, a decrease of A$18 million from the previous quarter. Included in this cash outflow are amounts paid to Crosslands and OPR of A$17 million to finance feasibility studies and exploration costs. Interest earned on investments for the quarter amounted to A$1.9 million.