Gondwana Resources Limited

Atlas Iron Limited (ASX:AGO) is pleased to announce that it has entered into an agreement to acquire a 90% interest in the Corunna Downs DSO Project in the North Pilbara from Gondwana Resources Limited (ASX:GDA) for A$2.1 million in cash, paid in three tranches. The agreement is in the form of a staged 12- month exploration option for 100% of Gondwana's interest in the project. Corunna Downs is located approximately halfway between Atlas' Mt Webber and McPhee Creek DSO Projects in the North Pilbara region.

Asian Activities Report for June 24, 2011 includes: Iron Ore Holdings Limited (ASX:IOH) announced an 8% increase of the JORC compliant Mineral Resource at the Iron Valley Project in Western Australia; Gondwana Resources Limited (ASX:GDA) has discovered significant Rare Earth Elements at Trigg Hill Rare Earths Prospect in Western Australia; Nemex Resources Limited (ASX:NXR) has commenced reverse circulation drilling at Woodley iron project, to be followed by Ironstone Well iron project; Alexium International Group Limited (ASX:AJX) has been granted a patent for its smart surface technology in Singapore.