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Mutiny Gold Iron Ore Production Potential

Mutiny Gold Limited ( MYG “Mutiny” or “the Company”), is pleased to provide a further update on its Gullewa acquisition with an overview of the significant iron potential of the Gullewa Project, in the Murchison greenstone belt of WA’s mid-west. Mutiny’s key focus in acquiring the Gullewa Project is to exploit its significant gold resources, providing Mutiny with a potential company transforming asset with near term production capability. The Project also contains significant iron mineralisation within numerous banded iron formation (“BIF”) units. These BIF units are interpreted to have a total length of approximately 150km. The BIFs are relatively underexplored, having been previously drilled for iron ore mineralisation at only two locations: the Rocksteady and Brandy Hill Prospects. At both of these prospects significant intersections of iron mineralisation were made. The BIF units are typical of those found elsewhere in WA’s growing Mid-West iron region that are currently being mined for iron ore or that are in an advanced project stage. The Board believes the Project has potential for the production of magnetite ore, either as a stand alone operation, or in conjunction with other deposits in the region. Gullewa contains a substantial area of unexplored BIF units, some of which outcrop with others under shallow cover. The Project is strategically located in close proximity to key infrastructure, being approximately 35km from the Mid-West gas pipeline, 50km from a railway, and 200km from the Port of Geraldton. The Fe grades of the BIF units drilled previously compare favorably with the grades of the resources at neighboring projects, including Gindalbie Metals Limited’s (“Gindalbie”) Karara and Blue Hills Projects and Ferrowest Limited’s (“Ferrowest”) Yogi Deposit within its Yalgoo Iron Project. Grades obtained include 53% Fe from 41m (hematite) and 34% Fe from 33m (magnetite). Although Mutiny’s focus is on the rapid advancement of the Deflector Gold Deposit at Gullewa, its exploration review will include a continuing overview of the iron potential. The early planning in exploration and potential development of the iron will include ground and low level flying magnetic’s and grading of Drill Targets.