Mayan Iron : January 15, 2016Update on Ajana Project

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15th January 2016 ASX ANNOUNCEMENT

ASX: ASN

Company Announcements Office Australian Securities Exchange Limited

Project Update

Anson Resources Limited (the Company) is please to provide an update on its recently acquired, highly prospective Western Australian Graphite exploration licence E66/89, the Ajana Project.

Highlights:

• Jumbo flake (>300 microns) and possible DSO graphite
• 4 regional prospects

  • Mary Springs

  • Walcott

    • Reprocessed historic EM targets

  • Geraldine

  • Warribanno

• Rock chips up to 16% total graphite content (TGC)

• Located 130km from Geraldton port Figure 1: Mary Springs Rock Chip Sample

Historical rock chip sampling has returned encouraging graphite assay results. The samples submitted which consisted of 40 - 50% by volume of graphite were collected at the Mary Springs Prospect.

NAGROM
AJANA1	AJANA2
TGC	13.4	16.6
Fe	27.3	27.4
SiO2	28.0	26.5
AL2O3	8.5	7.5
TiO2	0.4	0.4

Table 1: Rock chip assays submitted to Nagrom

Registered Office: Level 1, 8 Outram Street, West Perth, WA 6005, Australia

Tel: [phone] Fax: [phone] ABN: 46 136 636 005 www.mayaniron.com

The prospective ground contains occurrences of graphite schist within a Proterozoic gneissic geology. The Ajana area is dominated by the Proterozoic gneiss with conformable lenses of meta-sediment, pelitic gneiss, meta-quartzite, mafic gneiss and graphitic schist known as the Northampton Metamorphic Complex. This gneissic geological environment, typically hosts high grade graphite deposits in Western Australia and graphite deposits worldwide.

Figure 2: Surface geology at the Ajana Graphite Project.

The following table provides a comparison of the TGC of the Company's project against peers:

Table 1: TCG of peers

For further information, please contact:

Bruce Richardson Managing Director

The information in this report that relates to exploration results and geology is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian Institute of Mining and Metallurgy. Mr Knox is a geologist who has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a "Competent Person", as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion in this report of the matters based on information in the form and context in which they appear.