GWR GROUP LIMITED — Capital/Financing Update 2013

Jun 20, 2013

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ASX Announcement

NON RENOUNCEABLE ENTITLEMENT ISSUE SHORTFALL ALLOTMENT

ABN 54 102 622 051

Golden West Resources Limited ( Company or GWR ) is pleased to confirm that the Company has instructed its registry to allot and issue 23,409,721 ordinary shares pursuant to applications received from Eight Carat Securities Pty Ltd in its capacity as underwriter to the Non Renounceable Entitlement Issue (Rights Issue). The allotment of the shortfall shares concludes the Rights Issue which raised $7.2m before costs.

The shares have been entered onto the Company’s share register effective Thursday 20th June 2013.

Following this issue the Company has a total of 240,178,059 ordinary fully paid shares on issue.

As noted above, the Rights Issue was fully underwritten by Eight Carat Securities Pty Ltd. The Directors are very pleased with the response from existing shareholders (representing 51% of entitlements) and the support shown by the underwriter in difficult market conditions.

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Mark Pitts Company Secretary 21 June 2013

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