IONIC RARE EARTHS LIMITED — Capital/Financing Update 2012

Mar 18, 2012

19 March 2012

INVESTMENT SALE

Oro Verde Limited (ASX; OVL) (“the Company” or “OVL”) is pleased to announce that it has sold its investment holding in Weatherly International plc for net proceeds of $1,630,811.

OVL’s Executive Chairman, Dr Wolf Martinick, said:

“OVL’s investment in Weatherly was obtained following our vending of the Luanshya tenements in Zambia some time ago and with our move to exploration in Chile is no longer core to our business.

The sale proceeds, in addition to the recent capital raising of approximately $2.6 million places the Company in a strong position to continue exploration of its prospective exploration portfolio in Chile.”

ENDS

For enquiries contact:

Brett Dickson or John Traicos Company Secretary General Manager 61 8 9481 2555 0417 885 279

Oro Verde Limited (ABN 84 083 646 477) Level 1, 30 Richardson Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555

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