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COMPLETION OF SALE OF THE COWAN NICKEL PROJECT

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					       COMPLETION OF SALE OF THE COWAN NICKEL PROJECT


Liontown Resources Limited (Liontown Resources) advises that sale of the Cowan Nickel
Project to Panoramic Resources Limited (Panoramic) has been completed today.

Cash consideration for the sale of $1.7M was accompanied by subscription by Panoramic for
2.75M shares in Liontown Resources at $0.115 per share, taking the total cash proceeds to
$2.0M. Panoramic also received 1.25M unlisted 2 year $0.225 options in Liontown
Resources as part of the deal, taking Panoramic's interest in Liontown Resources to
approximately 4% on a fully diluted basis.

Liontown Resources' Managing Director, Andrew Bantock, said:

       “The sale provides additional exploration funding for the Mount Windsor
       Volcanics Project where we have commenced a 15-20,000 metre RAB/air
       core program, targeting base metals mineralisation similar to that at
       Liontown and the nearby Thalanga and Highway Reward deposits. We
       welcome Panoramic Resources as a shareholder as we push on with this
       program.”




ANDREW BANTOCK
Managing Director

15 July 2008




                                Liontown Resources Limited
                     Level 2, 1292 Hay Street West Perth Western Australia
                              t: +618 9322 7431 f: +618 9322 5800
                                   www.ltresources.com.au


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Description: COMPLETION OF SALE OF THE COWAN NICKEL PROJECT