Murchison Metals Limited (ASX:MMX) Welcomes POSCO (SEO:005490) As Biggest Shareholder

Perth, July 16, 2010 AEST (ABN Newswire) - Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) notes the announcement by POSCO Australia Pty Ltd that it has increased its shareholding in Murchison to 13.91%, making it Murchison's largest shareholder.

POSCO Australia is a wholly owned subsidiary of Korean steel giant POSCO (SEO:005490) (TYO:5412) (NYSE:PKX), a core customer of Murchison's 50 per cent owned iron ore producer Crosslands Resources Ltd.

Murchison Executive Chairman, Paul Kopejtka, welcomed POSCO's increased investment.

"We are delighted by POSCO's continuing strong support for Murchison in its leading role in the development of the emerging Mid West iron ore region," he said.

Contact

Trevor Matthews Managing Director Murchison Metals Ltd Tel: +61-8-9492-2600 www.mml.net.au