Company Information for Spitfire Resources Ltd

ASX-SPI

http://www.spitfireresources.com

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ASX; SPI

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Company Statement

pitfire Resources Limited is an Australian-based resources company which is focused on the acquisition, exploration and development of high-quality mineral assets in the carbon steel materials and energy sectors.

The Company’s core asset is the 80%-owned South Woodie Woodie Manganese Project, which is located 1,200km north of Perth and 230km north-east of Newman in Western Australia’s East Pilbara region.

The South Woodie Woodie Project comprises three granted Exploration Licences covering an area of approximately 230km², located about 40km down-strike from the 1 million tonne per annum (Mtpa) Woodie Woodie manganese mine, operated by Consolidated Minerals Limited. In February 2008, the Company announced that it had significantly expanded its ground holding in the East Pilbara region by lodging applications for four strategic tenements covering a total area of approximately 899km², located approximately 13km south east of the northern project area.

In May 2008, Spitfire moved to diversify its asset portfolio and commodity base after entering into an agreement to acquire Black Rock Energy Pty Ltd (Black Rock), a privately owned company whose assets include an advanced and highly prospective portfolio of thermal coal exploration properties located in the Derwent Valley, north-west of Hobart in Tasmania (the Langloh, Avoca and Ouse Projects).

Subsequent to this, in December 2008, the Company acquired an option over the Elderslie Exploration Licence Application in southern Tasmania from the privately-owned company Allambie Construction & Equipment Company Pty Ltd.
Spitfire also intends to actively investigate and acquire additional well-located prospective mining tenements both in Australia and overseas as it expands its footprint as an emerging company in the international resource sector.

Current Operations

South Woodie Woodie Manganese Project
The South Woodie Woodie Project is located about 1,200km north of Perth, and 230km north east of Newman in the East Pilbara Manganese Province of Western Australia. Prior to its acquisition by Spitfire, the Project was owned and managed by AIM-listed Churchill Mining Plc via its wholly owned subsidiary Planet Mining Pty Ltd ("Planet").

Spitfire commenced its maiden drilling program at South Woodie Woodie in April 2008. Anomalous manganese intersections were returned in 10 out of 16 holes drilled in this program. Beneficiation of this ore confirmed its potential to be upgraded to +45% Mn (export grade).

Following Spitfire’s second drill program in November 2008 Spitfire Resources reported the discovery of a significant zone of near-surface manganese mineralisation at the Tally-Ho Prospect, located within the Southern Target Area of its 80%-owned South Woodie Woodie Project in the East Pilbara region of Western Australia.

The Company received final assay results from the Phase 2 drilling program undertaken at South Woodie Woodie in November 2008. The program comprised 26 RC drill holes for a total of 3,372 metres of drilling, covering a series of priority targets within both the southern and northern areas of Spitfire’s tenement package.

Significant intersections of shallow manganese mineralisation – including best intercepts of 6 metres @ 20.48% Mn from 12m (including 1m @ 36.0% Mn), 7 metres @ 21.8% Mn from 9m, 4 metres @ 15.8% Mn from 31m and 7 metres @ 15.1% Mn from 14m – were returned from the Southern Target Area.

The intersections have been interpreted as defining a coherent zone of mineralisation extending over an area of approximately 200 metres by 200 metres, and located about 30 metres north of an extensive ridge of high-grade manganese outcrop which was located during a field-mapping exercise completed in 2008.

The Tally-Ho discovery will be a priority focus for exploration by Spitfire during 2009.

Tasmanian Coal
In 2008, Spitfire announced that it had moved to diversify its asset portfolio and commodity base after entering into an agreement to acquire Black Rock Energy Pty Ltd (Black Rock), a privately owned company whose assets include an advanced and highly prospective portfolio of thermal coal exploration properties located in the Derwent Valley, north-west of Hobart in Tasmania (the Langloh, Avoca and Ouse projects).

Subsequent to this, in December 2008, the Company acquired an option over the Elderslie Exploration Licence Application in southern Tasmania from the privately-owned company Allambie Construction & Equipment Company Pty Ltd.

The acquisition provides Spitfire with the opportunity to significantly expand the existing JORC Code compliant coal resource at Langloh within a rapid timeframe as the basis for a potential niche thermal coal export business in Tasmania. Spitfire’s exposure to the coal sector is consistent with its focus on carbon steel materials and energy-related commodities.

The Company is continuing to review its exploration activities within the Tasmanian coal portfolio in order to determine the most effective way of progressing these projects after taking into consideration its other commitments and priorities at the South Woodie Woodie Manganese Project.

Geographical Spread

Western Australia

Board of Directors and Key Management

DIRECTORS
James T Hamilton	Managing Director and Executive Chairman
Christopher J Daws	Non Executive Director
Russell P Hardwick	Non Executive Director

COMPANY SECRETARY
Russell P Hardwick

Company Address

Suite 1, 346 Barker Road
SUBIACO, Western Australia, Australia 6008


Telephone:	+ 61 8 6382 3700
Facsimile:	+ 61 8 6382 3777
Email:	admin[at]spitfireresources.com
Website:	http://www.spitfireresources.com

Additional Address/Key Contact

Postal Address:
PO Box 8050
Subiaco East
Western Australia 6008
Phone: + 61 8 6382 3700
Fax: + 61 8 6382 3777

Capital

80,151,681 Capital shares

Annual General Meeting

Perth, TBA

Year End

30 June

Major Shareholders

Churchill Mining Plc (31.19%)

Eralloys Holding AS (10.79%)

Most Recent Statement

29/06/09 - Near-Surface Manganese Deposit Confirmed at Tally-Ho, East Pilbara
17/06/09 - Manganese Drilling Update - Tally-Ho Prospect
05/05/09 - Spitfire Commences Drilling at South Woodie Woodie
09/03/09 - Appendix 3B
06/03/09 - Results of Meeting
17/02/09 - Half Year Accounts

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