Macarthur Minerals Limited Announces Conditional Approval to Graduation to Toronto Stock Exchange

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Aug. 29, 2011) - Macarthur Minerals Limited (TSX VENTURE: MMS) (OTCQX: MMSDF) ("the Company") is pleased to announce that the Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Company's outstanding common shares.

Upon acceptance of the final listing application and related documentation, the Company's common shares will commence trading on the TSX and be de-listed from the TSX Venture Exchange. The Company anticipates trading on the TSX shortly and will make a further announcement once the TSX has issued a bulletin confirming the date on which this will occur.


The Company's CEO, Alan Phillips, stated:

"The company is extremely pleased to have received conditional listing approval from the TSX. This is a major milestone for the company as it moves forward into its development stage and will enable us to reach a larger market of institution investors and create greater liquidity."


ABOUT MACARTHUR MINERALS LIMITED (TSX VENTURE:MMS)(OTCQX:MMSDF)

Macarthur Minerals Limited, is a Perth, Australia based resource Development Company (listed on the TSX-V exchange) focused on developing its Iron Ore project, located in the Yilgarn region of Western Australia. A standard gauge railway is in place to Esperance Port and its use will involve upgrades including construction of unloading facilities at the Menzies railhead, which is 110km in from Macarthur Iron Ore Project. The rail is administered and operated by WestNet Rail (WNR) of behalf of the Government of Western Australia. The Company has entered into discussions with WNR and is considering further study work. The project has a resource of 1.3 billion tones of magnetite that has been reported in accordance with National Instrument 43-101 and 20 million tones of potential direct shipping ore (DSO) goethite/hematite. MMS has completed a positive scoping study on the magnetite and a prefeasibility study for the DSO hematite is well advanced.


On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

Alan Phillips
President, Chairman & CEO



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy or this release.



Contact Information

The Buick Group
Jonathan Buick
Corporate Relations
416-915-0915
jbuick@buickgroup.com

Macarthur Minerals Limited - Australia
Alan Phillips
+61 418 726 230
aphillips@macarthurminerals.com
www.macarthurminerals.com