Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

March 10, 2009 09:15 ET

Macarthur Minerals Continues to Define Extent of Magnetite Mineralisation at Lake Giles Project, Western Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2009) - Macarthur Minerals Limited (TSX VENTURE:MMS) (the "Company") announces the latest results from its ongoing resource expansion drilling program at the Lake Giles Project.

Up to December 2008, a total of 12,985 meters of drilling had been completed in the Deep South Area, focusing on the Moonshine Project.

The initial results (outlined in the table below) confirm wide, high grade magnetite concentrate lenses along strike and at depth. The 2 kilometer strike is open to the North and is focused along two parallel ridges. All drilling has been logged and assays have commenced over the 67 holes (LGRC 105-172). Approximately 80% of the samples sent to the Amdel Laboratory in Perth (Australia) have been analyzed and subject to Davis Tube Testing to produce a magnetite concentrate.



Drill hole highlights for Deep South - Moonshine Project

--------------------------------------------------------------------------
Intersection Meters Head Davis Tube Concentrate
-------- ----------------------------- ----- ----------------------
EOH Mass
Hole Depth From To Interval Fe % Rec Fe % SiO2 %
--------------------------------------------------------------------------
LGRC_109 204 60 185 125 27.20 33.01 67.46 5.86
--------------------------------------------------------------------------
LGRC_113 223 55 215 160 32.19 38.11 69.91 3.93
--------------------------------------------------------------------------
LGRC_115 231 125 231 106 21.75 40.18 64.70 8.49
--------------------------------------------------------------------------
LGRC_116 250 170 250 80 25.61 26.16 63.76 7.83
--------------------------------------------------------------------------
LGRC_118 246 55 188 133 24.85 27.32 66.30 6.72
--------------------------------------------------------------------------
LGRC_120 276 185 276 91 27.75 31.96 64.42 7.88
--------------------------------------------------------------------------
LGRC_122 217 85 217 132 25.94 19.80 64.82 8.33
--------------------------------------------------------------------------
LGRC_123 250 160 250 90 27.15 34.94 66.80 5.70
--------------------------------------------------------------------------
LGRC_124 229 165 229 64 30.60 39.12 65.43 7.17
--------------------------------------------------------------------------
LGRC_125 256 195 256 61 31.87 40.24 69.35 3.54
--------------------------------------------------------------------------
LGRC_133 276 205 276 71 28.22 26.99 65.68 5.70
--------------------------------------------------------------------------
LGRC_135 222 70 160 90 31.50 30.54 67.40 5.69
--------------------------------------------------------------------------
LGRC_138 202 120 202 82 29.96 35.53 68.97 3.92
--------------------------------------------------------------------------
LGRC_141 162 80 155 75 17.20 15.43 62.82 12.13
--------------------------------------------------------------------------
LGRC_142 234 125 220 95 30.92 32.89 69.13 3.54
--------------------------------------------------------------------------
LGRC_145 240 96 161 65 25.59 25.52 66.59 7.54
--------------------------------------------------------------------------
LGRC_148 247 45 200 155 25.84 27.27 66.70 6.82
--------------------------------------------------------------------------
LGRC_150 176 102 176 74 25.33 32.92 60.27 14.76
--------------------------------------------------------------------------
LGRC_151 252 80 145 65 28.18 27.22 64.92 8.97
--------------------------------------------------------------------------
LGRC_152 250 150 245 95 31.36 43.84 60.98 14.48
--------------------------------------------------------------------------
LGRC_153 240 164 240 76 23.61 21.43 63.21 7.10
--------------------------------------------------------------------------
LGRC_155 208 95 175 80 28.04 32.91 66.88 7.05
--------------------------------------------------------------------------
LGRC_156 191 63 191 128 27.99 27.40 67.62 5.32
--------------------------------------------------------------------------
LGRC_157 225 50 160 110 21.52 17.00 64.84 8.91
--------------------------------------------------------------------------
LGRC_159 174 55 173 118 32.60 40.67 66.85 4.31
--------------------------------------------------------------------------
LGRC_160 233 80 215 135 22.96 21.82 67.56 5.74
--------------------------------------------------------------------------


Analytical data available for portions of the RC holes includes Davis Tube concentrate (Con Fe% & Conc. SiO2) results which measure the proportion of sample recoverable by magnetic separation.

Macarthur's drilling program continues to define the extent of mineralization at the Lake Giles Project, incorporating exploration drilling reports at Snark, Clark Hill North, Clark Hill South and Sandlewood (where inferred resources have been previously reported).

Drilling continues to intersect wide, high grade lenses of massive magnetite

The latest results from the Deep South Area - Moonshine Project indicate this area hosts magnetite mineralisation which is superior to the reported resources in the Snark, Clark Hill and Sandlewood area. This statement is supported by:

- Magnetite mineralisation being closer to the surface.

- The Silica SiO2 average (post Davis Tube) is substantially below previous areas reported average.

- The Fe concentrate grade has improved and;

- Mass Recovery percentage has increased.

Metallurgical test work by Independent Metallurgical Consultants

Initial metallurgical test work has found that the magnetite can be readily upgraded to ensure the iron (Fe) concentrate grade and the silica levels can meet market specifications.

2009 Drilling Program

A drilling program for 2009 will continue to extend the Moonshine Project as well as target two new projects (Red Neck and Lost World) in this Deep South area. This program will satisfy the minimum work required by the Department of Mines to maintain our tenement holding in good standing.

The mineralization interpretation for Moonshine comprises two main north-northwest trending, sub-vertical banded iron formation (BIF) units. The BIF units are intruded by gently dipping porphyritic dykes, and appear to be surrounded by mostly peridotites and other ultramafic units.

Potential Hematite Targets

Southern Geoscience Consultants Pty Ltd of Perth, Western Australia, completed the iron targeting exercise over the southern Lake Giles area covered by last year's detailed gravity survey (E 30/2424, M 30/228-229, M 30/206-208). Open-file aeromagnetic data (100m line spacing) from 1997 Johnston Range survey was used together with the SGC processed gravity data and published 1:100,000 surface and interpreted bedrock geology.

The exercise focused primarily on identifying potential hematite mineralization targets which are commonly characterized by gravity highs and magnetic lows (i.e. high density and non-magnetic). Twenty-nine targets in four general categories have been identified. Targets have been individually prioritized based on anomaly strength and geology.

Resource Update by Independent Consulting Geologists

Macarthur has commenced the compilation of this drill program data and it will be subject to independent resource analysis for announcement in late March or early April 2009.

Qualified Person

Mr. Nick Revell BSc, a member of AusIMM, and a Company director, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), in charge of the exploration on the Lake Giles project.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

David K. Barwick, President, Chairman & CEO



APPENDIX .1
--------------------------------------------------------------------------
Davis Tube
Intersection Meters Head Concentrate
------------------- ---------------------------- ----- ------------------
EOH Mass SiO2
Date Hole Depth From To Interval Fe % Rec Fe % %
--------------------------------------------------------------------------
7/06/2008 LGRC_105 149 100 149 49 23.02 22.23 63.10 6.00
--------------------------------------------------------------------------
10/06/2008 LGRC_106 211 No
Signi-
ficant
Result
--------------------------------------------------------------------------
13/06/2008 LGRC_107 186 No
Signi-
ficant
Result
--------------------------------------------------------------------------
16/06/2008 LGRC_108 222 50 115 65 30.76 29.76 67.50 5.42
--------------------------------------------------------------------------
18/06/2008 LGRC_109 204 60 185 125 27.20 33.01 67.46 5.86
--------------------------------------------------------------------------
21/06/2008 LGRC_110 195 136 175 39 15.15 10.22 59.74 8.17
--------------------------------------------------------------------------
22/06/2008 LGRC_111 198 156 185 29 19.36 9.19 65.89 6.20
--------------------------------------------------------------------------
11/12/2008 LGRC_112 250 162 216 54 19.60 18.44 66.8 6.67
--------------------------------------------------------------------------
11/07/2008 LGRC_113 223 55 215 160 32.19 38.11 69.91 3.93
--------------------------------------------------------------------------
6/07/2008 LGRC_114 162 No
Signi-
ficant
Result
--------------------------------------------------------------------------
19/07/2008 LGRC_115 231 125 231 106 21.75 40.18 64.70 8.49
--------------------------------------------------------------------------
15/07/2008 LGRC_116 250 170 250 80 25.61 26.16 63.76 7.83
--------------------------------------------------------------------------
25/07/2008 LGRC_117 194 No
Signi-
ficant
Result
--------------------------------------------------------------------------
22/07/2008 LGRC_118 246 55 188 133 24.85 27.32 66.30 6.72
--------------------------------------------------------------------------
11/08/2008 LGRC_119 199 No
Signi-
ficant
Result
--------------------------------------------------------------------------
12/08/2008 LGRC_120 276 185 276 91 27.75 31.96 64.42 7.88
--------------------------------------------------------------------------
16/08/2008 LGRC_121 195 90 135 45 30.86 33.36 63.32 10.86
--------------------------------------------------------------------------
13/08/2008 LGRC_122 217 85 217 132 25.94 19.80 64.82 8.33
--------------------------------------------------------------------------
15/08/2008 LGRC_123 250 160 250 90 27.15 34.94 66.80 5.70
--------------------------------------------------------------------------
19/08/2008 LGRC_124 229 165 229 64 30.60 39.12 65.43 7.17
--------------------------------------------------------------------------
24/07/2008 LGRC_125 256 195 256 61 31.87 40.24 69.35 3.54
--------------------------------------------------------------------------
20/09/2008 LGRC_126 203 No
Signi-
ficant
Result
--------------------------------------------------------------------------
23/09/2008 LGRC_127 251 No
Signi-
ficant
Result
--------------------------------------------------------------------------
18/07/2008 LGRC_128 211 No
Signi-
ficant
Result
--------------------------------------------------------------------------
20/07/2008 LGRC_129 230 No
Signi-
ficant
Result
--------------------------------------------------------------------------
16/07/2008 LGRC_130 228 200 228 28 22.25 12.83 64.31 6.40
--------------------------------------------------------------------------
14/07/2008 LGRC_131 222 65 95 30 29.53 36.29 59.56 16.43
--------------------------------------------------------------------------
8/07/2008 LGRC_132 216 No
Signi-
ficant
Result
--------------------------------------------------------------------------
10/07/2008 LGRC_133 276 205 276 71 28.22 26.99 65.68 5.70
--------------------------------------------------------------------------
23/08/2008 LGRC_134 247 150 175 25 24.04 27.58 58.96 16.76
--------------------------------------------------------------------------
5/09/2008 LGRC_135 222 70 160 90 31.50 30.54 67.40 5.69
--------------------------------------------------------------------------
26/08/2008 LGRC_136 223 95 145 50 26.46 29.65 65.72 7.70
--------------------------------------------------------------------------
27/08/2008 LGRC_137 206 55 86 31 27.73 25.90 67.48 5.73
--------------------------------------------------------------------------
2/09/2008 LGRC_138 202 120 202 82 29.96 35.53 68.97 3.92
--------------------------------------------------------------------------
10/09/2008 LGRC_139 182 No
Signi-
ficant
Result
--------------------------------------------------------------------------
11/09/2008 LGRC_140 234 No
Signi-
ficant
Result
--------------------------------------------------------------------------
14/09/2008 LGRC_141 162 80 155 75 17.20 15.43 62.82 12.13
--------------------------------------------------------------------------
23/09/2008 LGRC_142 234 125 220 95 30.92 32.89 69.13 3.54
--------------------------------------------------------------------------
30/09/2008 LGRC_143 250 215 250 35 15.34 11.05 66.85 7.18
--------------------------------------------------------------------------
30/09/2008 LGRC_144 198 65 120 55 29.86 29.24 66.90 6.30
--------------------------------------------------------------------------
3/10/2008 LGRC_145 240 96 161 65 25.59 25.52 66.59 7.54
--------------------------------------------------------------------------
24/08/2008 LGRC_146 252 175 215 40 14.40 15.47 61.12 7.67
--------------------------------------------------------------------------
16/08/2008 LGRC_147 228 No
Signi-
ficant
Result
--------------------------------------------------------------------------
26/08/2008 LGRC_148 247 45 200 155 25.84 27.27 66.70 6.82
--------------------------------------------------------------------------
28/09/2008 LGRC_149 148 No
Signi-
ficant
Result
--------------------------------------------------------------------------
7/10/2008 LGRC_150 176 102 176 74 25.33 32.92 60.27 14.76
--------------------------------------------------------------------------
10/10/2008 LGRC_151 252 80 145 65 28.18 27.22 64.92 8.97
--------------------------------------------------------------------------
19/10/2008 LGRC_152 250 150 245 95 31.36 43.84 60.98 14.48
--------------------------------------------------------------------------
13/10/2008 LGRC_153 240 164 240 76 23.61 21.43 63.21 7.10
--------------------------------------------------------------------------
27/10/2008 LGRC_154 210 0
--------------------------------------------------------------------------
30/11/2008 LGRC_155 208 95 175 80 28.04 32.91 66.88 7.05
--------------------------------------------------------------------------
27/10/2008 LGRC_156 191 63 191 128 27.99 27.40 67.62 5.32
--------------------------------------------------------------------------
18/10/2008 LGRC_157 225 50 160 110 21.52 17.00 64.84 8.91
--------------------------------------------------------------------------
22/10/2008 LGRC_158 210 No
Signi-
ficant
Result
--------------------------------------------------------------------------
28/10/2008 LGRC_159 174 55 173 118 32.60 40.67 66.85 4.31
--------------------------------------------------------------------------
2/10/2008 LGRC_160 233 80 215 135 22.96 21.82 67.56 5.74
--------------------------------------------------------------------------
5/11/2008 LGRC_161 217 Results
Pending
--------------------------------------------------------------------------
11/11/2008 LGRC_162 227 Results
Pending
--------------------------------------------------------------------------
14/11/2008 LGRC_163 210 Results
Pending
--------------------------------------------------------------------------
30/11/2008 LGRC_164 200 Results
Pending
--------------------------------------------------------------------------
25/11/2008 LGRC_165 204 Results
Pending
--------------------------------------------------------------------------
28/11/2008 LGRC_166 198 Results
Pending
--------------------------------------------------------------------------
22/11/2008 LGRC_167 249 Results
Pending
--------------------------------------------------------------------------
2/12/2008 LGRC_168 198 Results
Pending
--------------------------------------------------------------------------
5/12/2008 LGRC_169 198 Results
Pending
--------------------------------------------------------------------------
7/12/2008 LGRC_170 132 Results
Pending
--------------------------------------------------------------------------
8/12/2008 LGRC_171 181 Results
Pending
--------------------------------------------------------------------------
10/12/2008 LGRC_172 162 Results
Pending
--------------------------------------------------------------------------

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