ASX and Media Release

7 July 2009

COMMENCEMENT OF IRON ORE DRILLING CAMPAIGN

Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced it has re-commenced resource drilling on its expanded portfolio of iron ore projects near Newman.

This drilling programme marks the launch of an aggressive drilling campaign over the next six months to build a substantial direct shipping ore (DSO) resource inventory on the Company's projects.

The immediate focus of the drilling will be the Wishbone prospect at Woggaginna where excellent exploration results to date have outlined a DSO exploration target of between 15 and 30 million tonnes, grading between 57% and 60% Fe.

Wishbone is just one of several iron targets at Woggaginna, which the Company considers to have an overall DSO exploration target of between 50 and 100 million tonnes grading between 57% and 60% Fe (refer to the Company's ASX announcement on 17 June 2009).

The exploration program will also include the Company's recently acquired Jigalong iron project. Warwick announced the acquisition of the project from Hannans Reward last month, and following finalisation of the purchase, it will immediately commence drilling of the identified exploration targets on the Marra Mamba Formation. 

These targets are adjacent to the Davidson Creek and Robertson Range iron ore projects owned by Ferraus Ltd (ASX:FRS), which have combined DSO resources of 166 million tonnes.

In addition, the Company intends to complete resource drilling at its Western Creek project which has delivered strong results from previous drilling programmes.

Commenting on the drilling initiative, Managing Director Bruce McQuitty said,

"We are committed to undertaking an intensive exploration programme at Jigalong, Woggaginna and Western Creek over the next six months as it is the obvious means of unlocking significant value in the short term.  At the same time, we also plan to commence discussions with our neighbours - which include producers that own infrastructure and other iron ore explorers".

"Warwick's portfolio of iron ore assets will provide key tonnage to future consolidation activities aimed at achieving the economies of scale that are necessary to unlock an infrastructure solution in the eastern Pilbara region".

Warwick has not yet reported Mineral Resources at Woggaginna, Western Creek or Jigalong and any discussion in relation to targets and Mineral Resources is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

For further information, please contact:

Bruce McQuitty                                     Warrick Hazeldine                                                                     

Warwick Resources Limited                    Purple Communications

Phone: 08 9227 6680                             0417 944 616

Figure 1: Location of Warwick Resources' iron projects near Newman

About Warwick Resources Limited

Warwick Resources is an emerging iron ore explorer with a diverse asset portfolio near Newman in the Pilbara region of Western Australia which is host to world class iron ore mines. The Company's projects have a combined area of over 3,000km?.  The status of Warwick's iron ore projects near Newman is currently as follows: 

* On completion of the acquisition, Warwick will own 100% of the Jigalong iron project.