GRATIFII LIMITED — Board/Management Information 2013

Mar 10, 2013

11 March 2013

COMPANY SNAPSHOT

New Licences under application in Gabon, appointment of Country Manager Gabon and update on projects in Gabon and Republic of Congo

ASX: WGO

CAPITAL STRUCTURE

Waratah Resources Limited (ASX: WGO) (“ Waratah ” or “ the Company ”) is pleased to announce the appointment of Mr Jean-Clement Beyeme Zogo as Country Manager for Gabon and to give an update on the Company’s projects in Gabon and the Republic of Congo.

Since October 2012, under new management, Waratah has undergone a considerable cost cutting and restructuring initiative. The results of this initiative has led to a reduction in overhead costs of 70% and dramatically improved efficiencies within the Company with a renewed focus on exploration, delineating a resource and with a clear mandate to deliver outcomes.

New Gabon exploration licenses under application

In February 2013 the Company presented Waratah’s strategy for Gabon to the Ministry of Mines and Mines Minister Regis Immongault. Waratah has had several meetings with the Ministry of Mines in Gabon and is currently waiting for the granting of up to three new exploration and or prospecting licenses in Gabon. The attached map shows an illustration of the five licenses that are under application. Waratah has developed a solid working relationship with the Gabonese Ministry of Mines and looks forward to announcing the granting of the new licenses within Gabon in the coming weeks.

Appointment of Country Manager Gabon

Waratah is happy to announce the appointment of Mr Jean-Clement Beyeme Zogo as Country Manager for Gabon. Jean-Clement is a Gabonese national, holds a Masters degree in Economic Geology, a Bachelors degree of Science in Physics Geology and is currently completing his PhD in Economic Geology at the University of Johannesburg in South Africa.

CAPITAL STRUCTURE
Ordinary shares on issue	233M
Options @ 20c	17.6M
Options @ 30c	11M
Options @ 10c	20M
Options@ 7.5c	5M
Market cap. @ 25c	6M

MAJOR SHAREHOLDERS

Top 20% 51.33% UBS Wealth 22.43% BOARD & MANAGEMENT Sir Michael Bromley Chairman Ben Kirkpatrick Managing Director Jonathan Downes Non-Executive Director Anne Adaley Company Secretary PROJECTS Mekambo-Est Republic of Gabon Youkou Republic of Congo Okanabora Republic of Congo

CONTACT INFORMATION

Jean –Clement has worked for Waratah as a consulting Geologist since 2011. Prior to working with Waratah he worked for Aquila Resources (ASX: AQA) in Gabon as a consulting Geologist and for other African companies in the Democratic Republic of Congo and in South Africa.

Managing Director, Ben Kirkpatrick, has stated “we are very pleased to have someone of Jean-Clements calibre. He is an integral member of the Waratah team and brings a wealth of experience”.

T : +61 2 9232 6383

F: + 61 2 9221 1016 E : info@waratahresources.com.au A : Level 2 66 Hunter St SYDNEY NSW 2000

W: waratahresources.com.au

T

Drill Samples, Testing and Maiden Inferred JORC Resource

Waratah currently has over 40 samples with Intertek Laboratories in Johannesburg which are being assayed from its Mekambo-Est project in Gabon and the results of which the Company will use to compile its maiden Inferred JORC Resource. This is a major step for the Company in order to prove up a very large resource of iron ore on its Mekambo-Est project in Gabon. The company has engaged an independent laboratory in Perth to complete the analysis and is looking forward to the release of its maiden Inferred JORC resource to the ASX shortly.

Results of the assays from the Mekambo Est project are expected to be announced within days.

Waratah will be the first foreign company to prove an Iron Ore resource in Gabon. The Company sees this as a monumental achievement in a very exciting country which hosts the world class Belinga deposit. At the recent Mining Indaba Conference in Cape Town in February 2013 the Gabon Mines Ministry announced that SRK will be conducting a 24 month feasibility study on Belinga.

The Gabon Mines Ministry is looking forward to the results of Waratah’s assays & the release of the Company’s maiden Inferred JORC Resource. Mr Ben Kirkpatrick said “we are building a real presence in Gabon. The country is a geological masterpiece and we are at the forefront of uncovering the country’s diverse mineralogy. With the appointment of our Country Manager we are looking to divert a lot of capital into Gabon and to prove up potentially world class deposits for Iron, Gold, Copper and other minerals.”

Desktop Review and Field Trip

Waratah has engaged Salva Resources (“Salva”) as its Technical and Geological Consultants and is expecting to launch a field trip to Gabon at the conclusion of the current wet season. Salva is excited about the highly prospective licences that Waratah expect to be granted in Gabon and will be accompanying Jean-Clement on the field trip to explore the existing and newly granted tenements.

Salva completed an initial Desktop Review of Mineral Prospectivity of Gabon and the Republic of Congo (“Desktop study”) on behalf of Waratah in January 2013. This desktop study indicates that Waratah’s tenements in Central and Western Gabon are located in highly prospective regions that are underlain by metallogenically important Archaean, Palaeoproterozoic and Neoproterozoic crust. The Desktop Study confirmed that as well as being highly prospective for iron ore Waratah’s tenements in Gabon and Republic of Congo also have considerable exploration potential for other commodities.

Following the field trip Waratah intends to release a full report of results and expect that this report will include detail on prospectivity of iron ore as well as other commodities including gold and copper.

Other developments and marketing initiatives

The Company can confirm that it has had a number of approaches from various partied looking to gain access to Waratah’s Mekambo-Est project in Gabon for Iron Ore and Gold. The Company can confirm that it is in dicussions with potential partners at the equity level and the project level for its Mekambo-Est project.

Waratah will be exhibiting at Mines and Money in Hong Kong from the 18[th] to the 22[nd] of March at which time the Company will also be visiting Korea for investor presentations. MD Ben Kirkpatrick said “we are encouraged by the amount of interest that has been shown towards our current projects and new licences under application in Gabon. We are working with a number of interested parties and companies who are waiting for the release of our maiden inferred JORC resource”.

Attachment 1 Waratah Licences under application in Gabon.

==> picture [416 x 548] intentionally omitted <==