Once this is approved tomorrow at AGM tomorrow (April 15th)

Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Once this is approved tomorrow at AGM tomorrow (April 15th)

posted on Apr 14, 2009 11:09AM

Once this is approved tomorrow at AGM, then perhaps we get up to that 4.9¢/share US dollars (approx 6.0¢/share CDN $'s) that CLIFFS bought into KWG at .

The Shareholder Approval is being sought at the upcoming annual and special meeting of

KWG shareholders to be held on April 15, 2009. The votes attaching to the Common

Shares held by Cliffs, including any Common Shares held by its associates and affiliates,

will be excluded from the calculation of the required votes for obtaining the Shareholder

Approval.

If the Shareholder Approval is not obtained, KWG will immediately repay, in full, the