Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

March 31, 2011 16:00 ET

Macarthur Minerals Limited: Issue of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Macarthur Minerals Limited (TSX VENTURE:MMS)("the Company") is pleased to announce that pursuant to the Company's Stock Option Plan, subject to TSX-V approval, it has today granted an aggregate of 350,000 incentive stock options to a director and officer.

The options are exercisable for a 3-year period at $3.60 per share. Such options only vest and become exercisable in the event that the Company's share price reaches $4.25 and will be subject to a four month hold period commencing on the date of grant.

Further information on Macarthur Minerals Limited and technical reports on the Lake Giles project can be found on the company's website www.macarthurminerals.com or www.sedar.com.

ABOUT MACARTHUR MINERALS LIMITED (TSX VENTURE:MMS)

Macarthur Minerals Limited, is a Perth, Australia based resource development company that is currently focused on developing its Lake Giles iron ore projects, located in the Yilgarn iron ore district in Western Australia. The Lake Giles projects are located 110Km from rail with direct access to the Port of Esperance, Western Australia. The projects have an aggregate inferred resource of 1.3 billion tonnes of magnetite mineralization and 18 million tonnes of potential Direct Shipping Ore (DSO) Goethite/Hematite at 55.5% Fe, that has been reported in accordance with National Instrument 43-101 as filed in previous technical reports on January 9, 2011, December 17, 2009 and March 24, 2011.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

Alan Phillips, President, Chairman & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy or this release.

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