Brockman Mining Limited — M&A Activity 2011

May 3, 2011

ASX Stock Code: WNI

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3 May 2011

WAH NAM INTERNATIONAL HOLDINGS LTD (WNI) TAKEOVER BID FOR FERRAUS LIMITED

(FRS)

Wah Nam International Holdings Ltd ( Wah Nam ) is pleased to announce that Wah Nam International Australia Pty Ltd ( Wah Nam Australia ) intends to waive the 90% minimum acceptance condition for its off-market takeover offer of FerrAus Limited ( FerrAus ) if it receives sufficient acceptances to give it a relevant interest in more than 50% of FerrAus shares.

Wah Nam Australia is also pleased to advise it now has a 41.7% interest in Brockman Limited ( Brockman ) resulting from a strong level of acceptances of its takeover offer by Brockman shareholders. The level of acceptances reflects significant shareholder support for its Brockman offer.

Wah Nam Australia is becoming increasingly confident it will achieve its 50% minimum acceptance condition under the Brockman offer which would allow it to achieve the benefits of a combined Wah Nam - Brockman Group set out in section 6.16 the bidder's statement.

Wah Nam Australia urges FerrAus shareholders to reconsider the offer and the benefits of the Wah Nam - Brockman - FerrAus - Group set out section 6.14 of the bidder's statement. These benefits may include being in a better position than FerrAus or Brockman to progress, develop and finance the potential independent infrastructure requirements of the FerrAus Pilbara and Marillana Projects.

A reduction in the minimum acceptance condition, together with the strong Brockman acceptances, goes a long way towards addressing two significant concerns outlined by the FerrAus board in its recommendation to reject the offer set out in the target statement. Wah Nam Australia strongly encourages FerrAus shareholders to reassess the offer and the benefits of accepting.

Wah Nam Australia reminds FerrAus shareholders that if the offer is successful, amongst other things, it intends to procure funds for the development of the FerrAus Pilbara Project as well as progress the development of the North West Infrastructure Group's berth facilities at Port Hedland. Wah Nam considers it will have a strong ability to attract financing, including debt financing, for the development of the FerrAus Pilbara Project and the associated port and rail infrastructure.

Yours faithfully

Chan Kam Kwan Jason

Wah Nam International Holdings Limited

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