Implementation Of Atlas Iron Limited And Aurox Resources Limited Merger

13:02 AEST Aug 24, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Atlas Iron Limited (ASX: AGO) is pleased to report that the implementation of the merger between Aurox Resources Limited (ASX: AXO) (PINK: AUOXF) and Atlas by way of scheme of arrangement has taken place today (Scheme).

As a result of implementation of the Scheme, the holders of Aurox shares as at 5.00pm on 20 August 2010 (or, in the case of ineligible foreign holders and unmarketable scheme participants, their nominee) have been issued one new fully paid ordinary Atlas share for every three Aurox shares.

66,235,303 new Atlas shares were issued to Aurox shareholders and optionholders in consideration for the transfer of all of their shares and options in Aurox to Atlas. Aurox is now a wholly owned subsidiary of Atlas. The total number of Atlas shares on issue is now 540,009,119 shares.

The former Aurox shareholders now hold 12.27% of the total shares on issue in Atlas.

Trading of the new Atlas shares on a normal settlement basis is expected to commence on Wednesday, 25 August 2010.

For the complete Atlas Iron announcement including Distribution Schedule and a list of top 20 holders, please view the following link:
http://www.abnnewswire.net/media/en/docs/63584-ASX-AGO-502606.pdf


About Atlas Iron Limited:

Atlas Iron (ASX:AGO) is an emerging producer and active explorer focused on the discovery and development of iron ore projects. With a growing number of high quality iron ore projects and one of the largest landholdings in the Pilbara (8,900km2) located close to infrastructure, the Company has created a successful business by targeting resources and reserves capable of being mined with relatively low capital expenditure.




Contact:

David Flanagan, Managing Director
Atlas Iron Limited
Telephone: +61-8-9476-7900
http://www.atlasiron.com.au