GRATIFII LIMITED — Capital/Financing Update 2012

Feb 27, 2012

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28 February 2012

Australian Securities Exchange Limited Exchange Plaza 2 The Esplanade PERTH WA 6000

CAPITAL RAISING

Waratah Resources Limited (“Waratah”or “the Company”) is pleased to announce that it has resolved to raise up to approximately $3.5 million through the placement of up to approximately 14 million shares at an issue price of 25 cents per share.

The funds raised pursuant to the placement will be used to further advance exploration at the Youkou, Mekambo Est and Okanabora projects.

Waratah’s Managing Director, Mr William Witham said:

“The strong take-up of this share placement is further good news for Waratah and its shareholders and demonstrates the significant investor interest being received by Waratah for its African iron ore projects, on the back of recently commencing drilling at the Youkou project. Funds raised pursuant to the placement will allow Waratah to continue to aggressively progress drilling ensuring strong continued news flow over the coming months from exploration activity.”

The placement is being completed with up to approximately 14 million shares being issued pursuant to the Company’s 15% capacity under ASX Listing Rule 7.1 to sophisticated and institutional investors.

Yours sincerely

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ROB ORR

COMPANY SECRETARY