GWR GROUP LIMITED — Capital/Financing Update 2012

Mar 29, 2012

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Fast Facts

Capital Structure

Shares on issue 42.6M Options 27.3M ASX Code NXR

ASX Announcement & Media Release 30 March 2012

Directors & Management

Woodley Joint Venture Agreement

Reg Gillard Chairman

Peter Turner Managing Director Patrick Flint Non-Exec Director Paul Jurman Company Secretary

West African Project Highlights

• Significant DSO iron mineralisation

• Good infrastructure, close to ports

• Target: DSO resource and project development

Australian Project Highlights

• 100% interest in 420 km[2] Woodley DSO Iron Project

• Classic BIF project with surface alteration

Contacts

30 Ledgar Road, Balcatta WA 6021 Western Australia

T: +61 8 9240 6005 F: +61 8 9240 2406 W: www.nemexres.com.au

Iron ore-focused explorer Nemex Resources Limited (ASX: NXR) is pleased to announce that it has executed a joint venture agreement with ASX listed Company Golden West Resources Limited (ASX: GWR) for Nemex’s Woodley iron project.

Nemex Managing Director Dr Peter Turner said that despite high priority DSO targets remaining at Woodley, Nemex is focusing on its iron project in Guinea.

Details of the Agreement are as follows;

• GWR must spend a minimum of $300,000 on exploration within 12 months of signing the agreement after which time it may elect to withdraw

• Upon GWR spending a total of $1,000,000 on exploration it will have earned an interest of 85% (Nemex 15%)

• Nemex will be free carried to completion of a bankable feasibility study

• Should GWR identify an iron resource of at least 10Mt at greater than or equal to 55% Fe or a gold resource of greater than 500,000 ounces of gold at a grade of 2g/t then Nemex shall be entitled to be issued up to 1,000,000 shares in GWR with the number of shares capped at $600,000 maximum value.

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Detailed information about Nemex’s projects is available at www.nemexres.com.au

For further information contact:

Nathan Ryan

Peter Turner Nathan Ryan Managing Director Investor Relations Nemex Resources Ltd NWR Communications P: 08 9240 6005 P: 03 9622 2159 M: 0458 855 240 M: 0420 582 887

About Nemex Resources

Nemex Resources is an iron ore-focused explorer with direct shipping ore (DSO) iron projects in Guinea, West Africa and the Mid West of Western Australia. Nemex is earning an 85% interest in the Coastal Project in Guinea, West Africa where an extensive ironstone unit has been mapped over a large area and is an in-situ DSO product. The Coastal Project is located nearby two operational rail lines that link the project to two ports some 150km away.

In Western Australia, Nemex owns 100% of the Woodley DSO project which has abundant surface DSO iron occurrences.

Competent Person’s Statement

The information contained in this press release which relates to Exploration Results is based on information compiled by Dr Peter Turner, a Member of the Australian Institute of Geosciences (AIG). Dr Turner is the Managing Director and a full-time member of Nemex Resources Limited. Dr Turner has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Turner consents to the inclusion in the press release of the matters based on his information in the form and context in which it appears.

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