GREENWING RESOURCES LTD — Capital/Financing Update 2012

Mar 25, 2012

ABN 31 109 933 995

26 March 2012

The Manager Companies Company Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir

RE-QUOTATION OF BASS METALS LTD SECURITIES

Following approval from the Company’s secured lender, RMB Australia Holdings Limited to a restructure of its debt repayments and amendments to its debt covenants as announced to ASX earlier today, Bass Metals Ltd (ASX:BSM) (“Bass” or the “Company”) requests the voluntary suspension of its securities be lifted.

As required by ASX, the Company provides the following information:

1. The Board confirms the Company is in compliance with ASX Listing Rule 3.1;

2. The Board confirms the Company is in compliance with ASX Listing Rule 12.2;

3. The Board confirms subject to completing the documentation and meeting all of the conditions precedent, the Company’s secured lender will waive or amend various events of default that exist under its facilities, at which stage the Company considers it will not be in default under those facilities; and

4. The Company has a cash and receivables position as at today’s date of approximately $8.6 million.

Bass is not aware of any reason re-quotation of the Company’s securities should not be granted.

By order of the Board

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Susan Hunter Company Secretary

Level 1, 91 Havelock Street WEST PERTH WA 6005 PO Box 1330 WEST PERTH WA 6872 Telephone (08) 6315 1300 Facsimile (08) 9481 2846 www.bassmetals.com.au