Brockman Mining Limited — Capital/Financing Update 2011

Jun 16, 2011

ASX / MEDIA RELEASE: 17 June 2011

BROCKMAN AND WAH NAM CONFIRM THEIR FOCUS ON JOINTLY ADVANCING MARILLANA PROJECT

Highlights

• Conclusion of Wah Nam offer for Brockman shares confirms business as usual for Brockman.

• Wah Nam confirms commitment to Brockman’s existing business strategy to develop the Marillana Project as a significant, viable iron ore project.

• Current Brockman Board and management team remain in place. Brockman Board has also appointed two new Board members nominated by Wah Nam.

• Ongoing focus of Brockman is to achieve key project milestones and finalise an end to end logistics and infrastructure solution for the Marillana Project.

Australian iron ore company Brockman Resources Limited (ASX Code: BRM – “Brockman”) and Wah Nam International Holdings Limited (ASX Code: WNI – HKEx Code: 159 – “Wah Nam”) , are pleased to jointly outline the results of recent discussions following the conclusion of the takeover offer by Wah Nam International Australia Pty Ltd, a wholly owned subsidiary of Wah Nam, for Brockman and update the market on the development of the Marillana Project.

Brockman Board Appointments

The existing Brockman Board under the Chairmanship of Mr Barry Cusack will remain in place with two new members appointed to complement the existing Board. Wah Nam has nominated the following non-executive directors to the Brockman Board and their appointment was confirmed at a meeting of the Brockman Board today:

• Mr Warren Beckwith

  • Mr Beckwith is a director of a corporate advisory group with Perth and Hong Kong offices. For 13 years he was a partner in international Chartered Accountancy firms, including Senior Partner of a predecessor firm of Ernst & Young, Hong Kong. Currently, he is a director and chairman of the audit committee of China Properties Group Limited (a Hong Kong-listed property company), a director of Gondwana Resources Limited (an ASX-listed junior explorer) and Wah Nam International Australia Pty Ltd, a subsidiary of Wah Nam.

• Mr Hendrianto Tee

Mr Tee is the Chief Investment Officer of Wah Nam. Mr Tee has worked for various international financial institutions, with a main focus on debt capital markets, including UBS AG, Chinatrust Commercial Bank and Fleet Financial Group (now Bank of America). Most recently, Mr Tee was a corporate finance executive at the Indonesian arm of Charoen Pokphand Group.

Confirmation of Brockman Strategy

The shareholding of Wah Nam International Australia Pty Ltd in Brockman, following the conclusion of its takeover offer, is 55.33%.

In its capacity as Brockman’s majority shareholder, Wah Nam reiterates its support for Brockman’s current strategy. The timely development of the Marillana Project remains the top priority for both Brockman and Wah Nam. Wah Nam intends to provide all the capability at its disposal to support the Brockman Board in its successful and timely development.

Brockman’s Chairman, Mr Barry Cusack, said Brockman was pleased to be able to provide increased certainty for all shareholders with the conclusion of the bid. “We have held detailed discussions with Wah Nam in recent times regarding strategy, governance and operational matters and there is a shared commitment and determination to work together to realise the enormous value from the Marillana Project for the benefit of all shareholders.”

Wah Nam’s Chairman, Mr Peter Luk, said he was extremely pleased that the takeover offer was behind the companies. “Mr Barry Cusack’s continuing leadership of the Board is important to both Brockman and Wah Nam. We appreciate his continuing involvement and that of the other continuing directors. We are confident that the Brockman Board and management will work as a strong and united team for the benefit of all Brockman shareholders. Wah Nam believes that the consolidation of iron ore projects in the Pilbara, which is demonstrated by Wah Nam’s takeover bid for FerrAus Limited and its continuing evaluation of other opportunities, would be a positive next step in group development.”

Brockman’s Managing Director, Mr Wayne Richards, said it was very much business as usual for the Brockman team. “Brockman will continue to advance the project through to a proposed Final Investment Decision by year-end. The dedication and commitment of the entire Brockman team is commendable as they have, and will remain, focussed on advancing our Marillana Project and concluding front end engineering design, the bankable feasibility study and, subject to the positive outcome of the foregoing, project financing and site construction.”

Further information relating to Brockman is available on Brockman’s website brockman.com.au and relating to Wah Nam is available on Wah Nam’s website wnintl.com.

—ENDS—

BROCKMAN CONTACT DETAILS

Company

Wayne Richards Managing Director Brockman Resources Phone: +61 8 9389 3000 Web: brockman.com.au

Media

David Brook Professional Public Relations Phone: +61 8 9388 0944 / 0415 096 804 E-mail: david.brook@ppr.com.au

WAH NAM CONTACT DETAILS

Company

Hendrianto Tee Wah Nam International Holdings Limited Phone: +852 3169 3631 Email: Inquiry@wnintl.com Web: wnintl.com

Media

Tim Duncan Hintons Phone: +61 3 9600 1979

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