GRATIFII LIMITED — Capital/Financing Update 2012

Oct 1, 2012

2nd October 2012

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ASX ANNOUNCEMENT

New Managing Director Appointed

$1.16M Capital Raising Completed

CAPITAL STRUCTURE

African focused iron ore explorer, Waratah Resources Limited (ASX: WGO) (“Waratah” or “the Company”), is pleased to announce the appointment of Mr Ben Kirkpatrick as Managing Director to the Company, and the successful completion of a $1.16M placement through Peloton Capital.

Appointment of Managing Director

Options @ ~20c Options @ 30c

Market cap. @ 4c

Major Shareholder

BOARD & MANAGEMENT

Terry Streeter

Mr Kirkpatrick has over 20 years’ experience in stockbroking, investment and capital markets specialising in equities and equity derivatives and has been instrumental in developing significant sophisticated enterprises within these markets. Mr Kirkpatrick has been a leading stockbroker and client advisor since 1996, personally raising near $1 billion in IPOs, placements, derivatives structuring and fixed income.

Prior to joining Waratah, Mr Kirkpatrick held the position of Senior Client Advisor at Macquarie Bank, was a Director of UBS in Sydney and filled key appointments at Citigroup and JP Morgan. Mr Kirkpatrick is highly regarded amongst his peers within the Investment Banking, listed company and corporate sector, and he brings to his appointment at Waratah a wealth of domestic and international resources experience.

Ben Kirkpatrick

Managing Director

Peter Bennetto

Non Executive Director

Waratah’s Board considers Mr Kirkpatrick’s specialised skill set to be an important part of the Company’s evolution towards becoming a large-scale iron ore producer. In particular, Mr Kirkpatrick’s experience in raising capital for the resources sector, significant achievements in the infrastructure sectors and outstanding corporate relationships will be key influences in Waratah’s future development and success.

Non-Executive Director

Mr William Witham has resigned as Managing Director of Waratah to pursue other opportunities. The Board thanks Mr Witham for his contributions to the initial development of the Company’s projects in Africa.

$1.16M Capital Raising Completed

Peloton Capital has successfully completed a Private Placement for Waratah of $1.16 M institutional and sophisticated investors. The funds raised from this placement will be utilised to further advance exploration at Waratah’s African projects.

ENDS

For further information visit www.waratahresources.com.au or contact: Robert Orr Company Secretary T: +61 8 6365 4532

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ABOUT WARATAH RESOURCES LIMITED

Waratah Resources Limited (ASX: WGO) (“Waratah” or “the Company”) is an ASX listed iron ore company with a focus on its projects in the Republic of Congo (“ROC”) and Gabon (“Gabon”) and on the acquisition of other iron projects in the area.

The Company’s Youkou/Mekambo-Est Iron Project is located on the Ivindo Massif which is host to at least 4 billion tonnes of iron ore, including the world class Belinga, Nabeba, Avima and Badondo projects.

Waratah is well positioned to take part in the development of this region into the world’s newest iron ore province, and has developed strong relationships with the ROC and Gabon governments. The Company is currently aiming to define a JORC-compliant resource with its company owned drilling rigs and equipment.

WARATAH RESOURCES LIMITED – PROJECT LOCATION MAP

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