Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

September 10, 2010 11:15 ET

Macarthur Minerals Limited: Management Contracts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2010) -

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

MACARTHUR MINERALS LIMITED (TSX VENTURE:MMS) ("Macarthur" or "the Company") is pleased to announce that it has secured the services of a number of consultants and employees for their Lake Giles iron ore project in Western Australia.

Western Australia's level of activity in the mining and associated activities is reaching record levels and mining companies are facing greater difficulties in obtaining qualified and experienced mining executives, consultants, geologists, consulting engineers, drilling contractors, field hands and general staff members.

As the Company transitions from exploration to early stage development of the iron ore at its Lake Giles project, the board of directors of MMS has considered it prudent to better secure the services of key personnel to deliver the Project.

In August, the Company announced the commissioning of Engenium to work through a detailed study program designed to advance the development of the Lake Giles project.

Key personnel, being the President and CEO, CFO and Company Secretary and Senior Project Manager, will each be retained on 3 year fixed term consultancy contracts at fees of AUD$240,000 per annum. These personnel will continue to be eligible to be offered stock options under the Company's stock option plan as determined by the Board from time to time.

The Company's independent directors have determined compensation arrangements based upon various factors including companies of similar size, the Company's stage of development and taking into account the financial and other resources of the Company. Macarthur is an exploration company with an inferred resource of 1.117 billion tonnes of magnetite iron ore and 4.4 million tonnes of hematite iron ore.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

John Toigo, Acting Chairman

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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