Sundance Resources Limited (ASX: SDL)

CAM IRON SELECTED BY CAMEROON GOVERNMENT TO DEVELOP

WEST AFRICAN IRON ORE EXPORT TERMINAL

International Operators Submit Proposals for Financing and Construction of a  New Deepwater Port near Kribi in southern Cameroon

Sundance Resources Limited (ASX: SDL - "the Company") is pleased to announce that its Cameroon operating subsidiary, Cam Iron SA, has been selected to develop an iron ore export facility as part of a multi-user deepwater port project south of the coastal town of Kribi in Cameroon, West Africa.

Under the Government proposal, the new port is to be developed as a multi-user facility by some of the largest resources, logistics and construction companies in the world. The new port is expected to become a major shipping hub servicing the Mbalam Iron Ore Project as well as other emerging industries in the region.

The announcement was made last week by the Cameroon Minister of Transport, Mr Gounoko Haounaye, acting as Vice Chairman of the Steering Committee coordinating the port development. It follows review of proposals from a range of international developers and port operators.

Cam Iron SA submitted its proposal to the Cameroon Government both as an independent operator and as part of a consortium comprising Rio Tinto Alcan, the Bollor� Group and the Vinci Group - all major international companies with existing operations in Cameroon. Rio Tinto Alcan is a leading global supplier of bauxite, alumina and primary aluminium. The Bollor� Group is a diversified French-based conglomerate whose international logistics division has extensive operations in Africa. The Vinci Group is one of the world's leading construction companies.

The parties selected to participate in the development of the multi-user port comprise:

�         Cam Iron SA                      Financing, construction and operation of the iron ore terminal

�         Rio Tinto Alcan                  Financing, construction and operation of the aluminium terminal

�         Bollor� Group                    Financing, construction and operation of the container terminal

�         Angelkique / SCDP                        Financing, construction and operation of the hydrocarbons terminal

Petredec / Camship          

�         Vinci / SOGEA / SATOM    Financing and construction of civil works, infrastructure and utilities

Boskalis International          

The iron ore export terminal will be constructed by Cam Iron as a stand-alone facility but with provision for staged development of multi-user operations by the other selected operators. This should allow for sharing of common infrastructure and utilities.

The iron ore terminal will receive, stockpile, reclaim and shipload high-grade DSO and concentrate products for export. The port site selected by Cam Iron allows development of an open water berth capable of handling ships of up to 250,000 DWT capacity with a berth depth of 22m.

Recent marine surveys have allowed optimisation of the port design with total marine construction costs now estimated to be in the range of US$160 million (excluding materials handling infrastructure and utilities). This is approximately US$50 million less than the cost estimate provided in the Pre-Feasibility Study.

The Cameroon Government has retained specialist international consultants to provide advice on the development process for the multi-user port. The next steps in this process will comprise:

o        development of the Port Master Plan to accommodate the traffic and operational requirements of each of the selected operators;

o        award of concession agreements;

o        development of technical documentation;

o        arranging of funding (target date being September 2009).

Commenting on the announcement, Sundance's Managing Director Don Lewis said: "The selection of Cam Iron as a core operator within the overall port development represents another important milestone for Sundance and the Mbalam Project."

"We welcome the Cameroon Government's commitment to support the development of a deepwater port facility near Kribi, which reflects their strong desire to see this region opened up to significant economic development," Mr Lewis said. "The Government's announcement gives us great confidence that construction of the new port can proceed in a timely and cost effective manner."

"The involvement of several of the world's leading resources, logistics and construction groups will significantly enhance the ability to secure competitive financing for the development of the port facilities," he said.

"The iron ore export terminal represents a key component of the Mbalam Project. This important announcement follows a number of very positive developments achieved towards the end of last year. These include the finalisation and signing of the Framework Agreement with the Government of Cameroon, the delineation of a JORC-Code compliant resource base totalling 2.45 billion tonnes of DSO quality and itabirite hematite, completion of the Stage 1 drilling program and the commencement of negotiations with prospective strategic partners with interest in product offtake and financing."

ENDS

About Sundance Resources Limited

Sundance Resources Ltd is an Australian exploration company focused on mining interests in the Republic of Cameroon and the Republic of Congo, on the central west coast of Africa. Sundance has commenced feasibility study on the Mbalam Iron Ore Project as the basis for developing a global iron ore business.

Central West Africa is considered to have the potential to develop into a significant new iron province, underpinned by the Mbalam Iron Ore Project and the nearby Belinga Project in Gabon, under development by the China National Machinery and Equipment Import and Export Corporation.

WA-based Sundance has been listed on the Australian Stock Exchange since 1993 and is also traded on over-the-counter markets in Frankfurt, Berlin, Hamburg, Stuttgart and Munich.

Forward-Looking Statement

Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the iron ore mining industry, expectations regarding iron ore prices, production, cash costs and other operating results, growth prospects and the outlook of SDL's operations including the likely commencement of commercial operations of the Mbalam Project and its liquidity and capital resources and expenditure, contain or comprise certain forward-looking statements regarding SDL's exploration operations, economic performance and financial condition. Although SDL believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in iron ore prices and exchange rates and business and operational risk management. For a discussion of such factors, refer to SDL's most recent annual report and half year report. SDL undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events.

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