Sydney, Australia (ABN Newswire) - Murchison Metals Limited (ASX:MMX) Quarterly Activities Report and Cashflow Statement for the quarter ended 31 December 2011. The highlights for the period are include:

Murchison
- Agreement reached to sell Murchison's interests in Crosslands and OPR to Mitsubishi for $325 million
- Agreement received with Chameleon Mining to settle litigation
- Foreign Investment Review Board approval of Mitsubishi Transaction obtained
- General Meeting of Shareholders to approve Mitsubishi Transaction scheduled for 13 February 2012

Crosslands Resources Ltd (Murchison 50% Interest)
- Jack Hills Expansion Project ('JHEP') approved by WA Minister for Environment
- 481,072 tonnes of direct shipping ('DSO') lump and fines shipped during quarter
- Stage 1 mining operations completed according to five year mine plan
- Final Stage 1 shipments forecast to occur in February
Oakajee Port and Rail (Murchison 50% Interest)
- Amended Oakajee State Development Agreement to continue

For the full Quarterly Report, please go to:
http://media.abnnewswire.net/media/en/docs/ASX-MMX-575383.pdf

About Murchison Metals Limited:

Murchison Metals Limited is an Australian ASX listed company. Murchison is included in the S&P/ASX 200 Index.

Murchison is a 50% shareholder in Crosslands Resources Ltd which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia. The remaining 50% of Crosslands is held by Mitsubishi Development Pty Ltd ('Mitsubishi'), a subsidiary of Mitsubishi Corporation, Japan's largest general trading company.

Murchison also has a 50% economic interest in an independent infrastructure business, Oakajee Port and Rail ('OPR'). OPR was established to construct new port and rail infrastructure to provide logistics services to miners (including Crosslands) and other potential customers in the mid-west region of WA.

The remaining 50% economic interest in OPR is held by Mitsubishi.

In addition to its investments in Crosslands and OPR, Murchison owns the Rocklea iron ore project located in the Pilbara region of Western Australia.

Source:

Murchison Metals Limited

Contact:

Murchison Metals Limited
T: +61-8-9492-2600
F: +61-8-9492-2650
WWW: www.mml.net.au