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Australian Bauxite concludes MOU with Marubeni Corporation

Marubeni to participate in Goulburn Bauxite Project PreFeasibility Study Australian Bauxite Limited ( ABZ) (ABx) and Marubeni Corporation (Marubeni) have concluded a Memorandum of Understanding to jointly conduct a prefeasibility study in relation to the GoulburnTaralga bauxite project located in New South Wales, Australia. A 25 million tonne bauxite resource has been declared at Taralga2 and Marubeni will contribute 35% toward the Prefeasibility funding, estimated to be $1.5 million. ABx will conduct the prefeasibility study with participation by Marubeni, which will investigate the market for bauxite and other credits produced from the GoulburnTaralga bauxite project. At the completion of the prefeasibility study Marubeni can elect to acquire a 35% joint venture interest in the GoulburnTaralga bauxite project and to contribute 35% of the bankable feasibility and development costs. Marubeni will help arrange the finance for the first bauxite project. Ian Levy, ABx CEO welcomed Marubenis participation We welcome the confidence shown in Australian Bauxite by one of the worlds leading metals and resources companies. Marubeni has the global trading network and skills to find the ideal customers for our speciality bauxite products.

This relationship will decrease market risk and expedite the funding and development of our first bauxite production. About Marubeni Group One of the largest General Trading Companies in Japan by turnover, founded in 1858 Publicly listed on the Tokyo, Nagoya and Osaka Stock exchanges (8002.T), with a market capitalisation of US$ 12.5 Billion at 31 March 2011. Global trader of a wide range of commodities, it conducts business investment, development and management on a global basis with 119 offices in 69 countries In the field of industrial services, Marubeni combines engineering functions and risk management capabilities in various fields such as Renewable Energy, Power and Water Projects, Oil and Gas, Metals and Mineral Resources, Pulp Paper, Transportation Infrastructure, and Food materials products. Marubeni is a 22.5% owner of Portland Aluminium Smelter, located in Portland in South West Victoria and also owns 8% interest in Boyne Smelters (Line 3), which is located in Boyne Island in Queensland, Australias largest aluminium smelter. In addition, Marubeni is also a 6.67% owner of Alouette Aluminium Smelter, located in Canada, North Americas largest aluminium smelter. For further information please contact Chief Executive Officer, Ian Levy, Australian Bauxite Limited Telephone 61 2 9251 7177 Fax 61 2 9251 7500 Email