AUY Yamana Gold Inc.

RNS Number:5271D
AuIron Energy Ld
14 May 2001

AuIron has much to be excited about.

The Phillipson coal needed to fuel the final operation phase of the Whyalla
Demonstration Plant has been brought to the surface on time and on budget.

Ground was broken on AuIron's coal resource at Phillipson (at Ingomar near
Coober Pedy in central South Australia) on 12 March 2001.

The test pit, at completion, measured 200 by 200 metres. It is 32 metres deep.

670,000 bank cubic metres of overburden was removed.

230 million litres of water was also removed - approximately 250,000 tonnes.

Overburden removal was completed on 9 May 2001, and coal extraction was
completed on Friday 11 May 2001.

16,000 tonnes of coal was brought to the surface and is available for use in the
Demonstration Plant and other trial burns.


AuIron Energy Limited CAN 000 754 174
134 William Street
Sydney 2011. Tel(61-2)9357 2044

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