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Monday, 04/08/2019 9:06:39 AM

Monday, April 08, 2019 9:06:39 AM

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Macarthur Minerals Progress Towards Rail Haulage Agreement

VANCOUVER, British Columbia, April 08, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to announce that it has partnered with Australian freight haulage company Aurizon to finalise a rail haulage contract for its Lake Giles Moonshine Magnetite Project (“Project”) in the Yilgarn region of Western Australia. This news follows the Company’s recent announcement that it has signed a binding Life-of-Mine Off-Take Agreement with Glencore International A.G. for the sale of iron ore to be produced from the Project from the commencement of commercial production.

Macarthur has entered into a Negotiation Agreement with Aurizon to provide above rail haulage services including the supply of rolling stock for the purpose of transporting iron ore from the Project to the Port of Esperance. Aurizon already has rolling stock available that was previously used by other iron ore operators in the region including 325 wagons. The rolling stock is fit for purpose and compatible with rail unloading infrastructure at the Port of Esperance. This represents a key component of the logistics solution for the Project.

Aurizon was selected as the preferred operator based on its superior supply chain experience, safety and operating capability and its expertise in bulk rail freight that includes the transport of over 40 million tonnes of bulk freight and iron ore throughout Australia. Aurizon has significant rail marshalling, maintenance and traincrew facilities at the Port of Esperance, a legacy investment from its previous Cliffs iron ore haulage contract. The open access rail network owned by Arc Infrastructure has available capacity and is accessible within 90 km of the Project and runs directly to the Port of Esperance.

Cameron McCall, Executive Chairman of Macarthur Minerals commented:

“Macarthur is pleased to be working with Aurizon to advance its rail haulage requirements and is very encouraged by its availability of rolling stock for the Project. Rail transport is an integral component in our supply chain and Macarthur and Aurizon have a common goal in expanding iron ore production in the Yilgarn region.

This partnership has the potential to significantly benefit the economies of the local mining communities surrounding the Moonshine Magnetite Project along with the Port of Esperance community of Western Australia. These areas have recently suffered from a significant decline in iron ore export. The development of the Project will be a vital boost to these local communities and the highly skilled workforce available in the region.

Anna Dartnell, General Manager Iron Ore for Aurizon commented:

“Aurizon is pleased to be working with Macarthur Minerals on Iron Ore transport solutions for its Lake Giles Moonshine Magnetite Project in the Yilgarn. We have extensive expertise in safely and reliably delivering Iron Ore in this region after servicing Portman and later Cliffs for more than 20 years. We look forward to being part of this opportunity with Macarthur Minerals, growing regional Australia by delivering bulk commodities to the world.”

Australian Iron Ore Projects

Macarthur Minerals has invested in excess of A$61m on its 100% owned Iron Ore Projects which cover an area of approximately 62km² located in the Yilgarn region of Western Australia, 175km northwest of the township of Kalgoorlie. The Projects have granted Mining Leases with advanced permitting and are adjacent to existing highly developed infrastructure suitable for iron ore exports.

ABOUT AURIZON

Aurizon is Australia’s largest rail freight operator and a top 100 Australian Stock Exchange (ASX) company with a market cap of over $9.1 billion.

Aurizon’s bulk freight business delivers over 40 million tonnes of commodities a year and its coal business transport over 200 million tonnes annually.

Aurizon has significant experience in transporting iron ore in the Mid West region of Western Australia. Aurizon was the rail operator for Cliffs’ Koolyanobbing project prior to its closure, transporting over 11 million tonnes annually to the Port of Esperance.

ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS) (OTCQB: MMSDF)

Macarthur Minerals Limited is an iron ore development company with its focus on bringing into production, its sizeable, 100% owned, Moonshine Magnetite and Ularring Hematite Iron Ore Projects in Western Australia. Macarthur Minerals also has prominent (~1,130 square kilometre tenement area) exploration interests in gold, lithium, nickel, cobalt in the Pilbara region of Western Australia. In addition, Macarthur Minerals has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.

On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED

“Cameron McCall”
Cameron McCall, Executive Chairman

Everything I say is only my opinion, and should not be construed or relied upon as investment advice.