Brumby Resources raises $2.57m

Brumby Resources Ltd has today advised that its underwritten 1-for-2 pro-rata non-renounceable entitlements issue to shareholders was taken up by shareholders represented 59% of the entitlements issue.

The underwriter, Argonaut Capital Ltd, has advised the company that it will lodge applications for the shortfall by close of business, Monday, 14 April 2008.

Upon receipt of the shortfall, the entitlements issue will have raised $2.57million before costs.

Brumby Resources continues to concentrate its efforts on the Pilbara region of Western Australia with the specific aim of exploring for iron ore.

The Company is gearing up for a busy field season once statutory approvals have been granted with the initial targets being two large-scale iron ore prospects at Pardoo East which have the potential to host significant hematite iron mineralisation.

These prospects were identified by an interpretation of ground gravity and aeromagnetic surveys completed in 2007.