ASX Announcement 20 July 2015

A t l a s s e t f o r s t r o n g er f u t u r e a f t e r r a i s i n g $ 86m

Atlas Iron Limited (ASX: AGO) is pleased to advise that it has received valid applications for approximately $86 million from existing shareholders, contractors and new investors under its capital raising.
Atlas Managing Director David Flanagan said he was delighted with the immense vote of confidence in the company, particularly in light of the recent volatile market conditions.
"This is an outstanding result for Atlas shareholders, for the 700 people who rely on Atlas for work and for the State and Federal Governments that use our royalties and taxes to provide essential services," Mr Flanagan said.
"This raising will strengthen our balance sheet considerably, giving us a measure of further protection against iron ore price volatility and enable the company to take advantage of opportunities as they arise.
"When this is combined with our new, lower cost base, which we are continuing to optimise, I am confident Atlas has a bright future."
Atlas has re-started mining at all three Pilbara iron ore mines at Wodgina, Abydos and Mt Webber. Production is ramping up in line with the previously stated year-end production target of 14 to 15 million tonnes per annum.
Shares and options in respect of the capital raising are expected to be issued on or around 24 July, with
Atlas shares indicatively scheduled to resume trading on ASX on 27 July.

Media Enquiries:

Read Corporate +61 8 9388 1474

Paul Armstrong +61 421 619 084

Atlas Iron Limited

ABN 63 110 396 168

Raine Square, Level 18

300 Murray Street Perth WA 6000

PO Box 7071

Cloisters Square Perth WA 6850

P: +61 8 6228 8000 F: +61 8 6228 8999

E: atlas@atlasiron.com.au
W: www.atlasiron.com.au

distributed by