Freehill Mining Limited provided update to shareholders on the ramp up of mining and ore processing activities at the company's 100%-owned Yerbas Buenas magnetite project. Mining, crushing and processing activities are well underway with approximately 150,000 metric tons of stockpiled mined material ready for processing. Impact crusher acquired and installed which elevates the mine from two stage to three stage fine crushing circuit ­ producing final - 3mm iron ore product.

The impact crusher provides a two-level benefit of increasing the grade of iron ore and higher value fine aggregate and once producing, the Company will look to optimize its process from its' sources of supply. Magnetic plant operating at 100%, producing over 300 tons of finished product per hour. Freehill's focus at this time is on stockpiling processed material while sales arrangements are finalized.

Operations are now well underway with mining, crushing and processing equipment on site and operational. In the last week, an Impact crusher has been acquired with installation substantially completed. The impact crusher elevates the process from a two stage to a three stage fine crushing circuit.

The impact crusher delivers a final product of-3mm iron ore which the Company is expecting to be available for sale to potential off-takers imminently. The Company's magnetic plant has now reached 100% capacity and is operating at a processing capacity of 300+ tonnes per hour. Freehill's focus is now on stockpiling the processed ore while off-take sales contracts are assessed.

Currently, the Company has approximately 150,000 metric tonnes of stockpiled mined material ready for processing. Discussions with several off-takers are already well advanced, with demand being evidenced from a number of further identified potential domestic and international off take customers.