ASX and Media Release

31 August 2009

WESTERN CREEK DRILLING RESULTS

KEY POINTS

?                     Highly encouraging results from Phase 2 RC drilling at Western Creek, including:

                        26m @ 59.1% Fe from 4m depth (WRKRC404),

                        26m @ 57.8% Fe from 22m depth (WRKRC397),

                        20m @ 59.2% Fe from 16m depth (WRKRC398), and

                        20m @ 57.3% Fe from 24m depth (WRKRC402)

?                     Further results due in next two weeks; resource estimation scheduled for late October

?                     Resource drilling has commenced on the Company's Woggaginna project

Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced highly encouraging iron intersections from Phase 2 RC drilling at its 100% owned Western Creek iron ore project near Newman.

Western Creek is located 20km to the west of Newman and approximately 15km to the west of BHP Billiton's Whaleback Iron Ore Mine (Figure 1).

The results are from the first 9 holes of a programme of 34 drill holes for 2,124m completed earlier this month.  Results from the remaining 25 holes are expected during the next two weeks.

The drilling programme targeted a 3km long x 200-300m wide outcrop of iron enriched Marra Mamba Formation located in the northwest portion of the project tenement E52/2160. Results of the drilling are summarised in Tables 2 & 3 and Figure 2.

The results confirm the strong tenor of mineralisation established during Warwick's initial phase of RC drilling, completed in December 2008, which included intersections of 36m @ 60.8% Fe from 22m depth (WRKRC314), 22m @ 60.0% Fe from 11m depth (WRKRC315), 28m @ 58.3% Fe from 17m depth (WRKRC316) and 32m @ 58.1% Fe from 14m depth (WRKRC323).

Significantly, the latest results show that the mineralisation is still open to the south (see Figure 2).

The Company recently announced the launch of an aggressive drilling campaign on its iron projects which aims to build a substantial direct shipping ore (DSO) resource inventory over the next six months. Following completion of the drilling programme at Western Creek, a resource drillout has commenced at Woggaginna..

For further information, please contact:

Bruce McQuitty

Warwick Resources Limited

Phone: 08 9227 6680 / Mobile: 0409 929 121

Email: bmcquitty@warwickresources.com.au

Website: www.warwickresources.com.au

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. Following the acquisition of iron rights on Hannans Reward's Jigalong project, the Company's projects have a combined area of over 5,000km?.  The status of Warwick's iron ore projects near Newman is shown in Table 1: 

Table 1:  Status of Warwick's iron ore projects near Newman

^[1] 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.

Competent Person Statement

The information in this report to which this statement is attached that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Bruce McQuitty, who is a Member of the Australian Institute of Geoscientists. Mr McQuitty is a full-time employee of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr McQuitty consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Forward Looking and Exploration Target Statements

Some statements in this announcement regarding future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company's exploration programme, outlook, target sizes, resource and mineralised material estimates. They include statements preceded by words such as "potential", "target", "scheduled", "planned", "estimate", "possible", "future", "prospective" and similar expressions. The terms "Direct Shipping Ore (DSO)", "Target" and "Exploration Target", where used in this announcement, should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature and it is uncertain if further exploration or feasibility study will result in the determination of a Mineral Resource or Reserve.

Figure 1: Location of Western Creek project

Figure 2: Drilling Results at Western Creek

Table 2: Western Creek prospect interim Phase 2 RC drill results

RC drill samples were collected as 2m riffle split samples. All samples were analysed by X-Ray Fluorescence Spectrometry (XRF). Loss on Ignition (LOI) values were determined using Thermo-Gravimetric Analyses at 1000^oC. Results are reported on a dry sample basis. Intersections have been calculated using 55% Fe lower cut-off grade and a maximum of 4 consecutive metres of internal dilution. True widths are estimated to be between 80% and 100% of downhole widths.

Table 3: Drill hole collar details

Coordinates are MGA Zone 50 (GDA94) projection.

***