Major milestones

Incorporated January 2000

Flinders Diamonds Limited was first listed on the Australian stock exchange 20 February 2002. Its primary focus was to explore and discover an ecomonic diamond deposit.

Hamersley Project orignally a JV between FDL (now FMS) and Prenti Exploration Pty Ltd (May 2003). FDL bought 50% for $50,000 cash. FDL now has 100% equity with Prenti retaining a 5% net profit royalty

The Company discovered its first kimberlite in September 2004.

FDL agreed with FMG (March 2005) to swap commodity rights on Hamersley project tenements with FMG taking iron ore rights (1% FOB royalty) and FDL taking diamond rights (no royalty) – E47/882 was not included.

Diamond bulk sampling commenced 22 June 2006.

High microdiamonds in kimberlite pipe 77a.

Added the Gawler Craton to its exploration portfolio in April 2007 though joint ventures with Tawana and Tasman Resources.

In November 2007 a plus 325 Mt iron ore Target was defined close to FMG’s 1.7 Bt Solomon Project Area and Rio Tinto’s 0.9 Bt Caliwingina North deposit.

At a General Meeting, 16 April 2008, FDL decides to change its name to Flinders Mines Limited (FMS) and focuses on iron ore exploration, with diamond exploration to continue as a secondary activity .

Commenced phosphate exploration in South Australia in August 2008

Released maiden Inferred Resource at Hamersley of 476Mt at 55.4%Fe in April 2009

Located 101 kimberlites, 25 diamondiferous between September 2004 and May 2009

Flinders expands WA iron ore holdings with the acquisition of Canegrass Magnetite Project in May 2009

FMS increases Global Inferred Resource to 511 Mt, August 2009.

Board approves Pre-feasibility Study, based on a positive Scoping Study, August 2009

Encouraging microdiamond result from new kimberlite discoveries at Eurelia, South Australia, September 2009

WorleyParsons appointed to conduct Prefeasibility Study for Flinders’ Pilbara Iron Ore Project in October 2009

First “Indicated” estimate for project - Delta Indicated Mineral Resource at plus 50% iron cut-off of 157Mt at 56.5% iron - in February 2010

Global Inferred and Indicated Mineral Resource increased from 511Mt to 550Mt, in February 2010