GREENWING RESOURCES LTD — Capital/Financing Update 2009

Mar 12, 2009

ABN 25 001 150 849

Level 3 2 Elizabeth Plaza North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia

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Phone: 02-9925-8170 Fax: 02-9925-8110 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

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Companies Announcements Office Australian Securities Exchange

13 March 2009

Hellyer Sale Agreement Executed

Intec Ltd (ASX code: INL) advises that the formal agreement for the sale of its Hellyer assets to Bass Metals Limited (ASX Code: BSM) was executed and exchanged on 12 March 2009. The Hellyer assets include the Hellyer Mill, associated facilities and infrastructure, the partially-reworked Hellyer tailings dam and associated dredge, the mining lease and associated rights to water and power for the site.

On 10 December 2008, INL and BSM agreed to the transfer of the Hellyer assets and INL received from BSM a $0.5 million conditionally refundable deposit at that time. A further payment of $3.51 million will now be received on 19 March 2009. BSM is also required to re-finance INL’s existing $0.99 million security bond in relation to the Hellyer Mining Lease prior to Ministerial Approval of the transfer of the Hellyer Mining Lease (expected in the coming months). In addition, INL retains a $2.50 per tonne processing royalty, capped at $5 million, which is payable for ore processed through the Hellyer Mill.

Proceeds received from this transaction will be used to retire in full the existing debt facility with Macquarie Bank Limited.

Yours faithfully

Intec Ltd

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Philip R. Wood

Managing Director and Chief Executive Officer