MOTIO LTD — Capital/Financing Update 2013

Dec 19, 2013

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20 December 2013

Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Reinstatement to Trading – Company Update

White Eagle Resources (the Company ) is pleased to advise that its securities will be reinstated to trading from the commencement of trading on Monday, 23 December 2013. The Board provides an update to shareholders on the Company’s financial position and proposed activities at its 100% owned Pardoo exploration licences in Western Australia.

On 28 August 2013 the Company advised it had entered into an agreement with its previous joint venture partner, Segue Resources Limited, to acquire Pardoo Tenements E45/2146 and E45/3464 in the Pilbara region of Western Australia ( Tenements ).

Detailed information of the two exploration licences is available in the Company's prospectus dated 27 September 2013 on the ASX website.

Proposed Activities

Previous exploration on the Tenements as a whole has not been extensive mainly due to the lack of outcrop. The region is largely covered by sediments and windblown sands and was not generally recognised as a prospective Archaean greenstone belt until the late 1980s. Some early exploration for iron ore was undertaken by Sentil Mining Company in the 1960s.

Base metal mineralisation has been identified within the Pardoo Fault zone at the Supply Well prospect. The Project area contains approximately 5km of effective strike of this structural zone and has potential to host additional areas of nickel, copper and zinc mineralisation and may have potential to host platinum group element mineralisation. A number of EM anomalies along the Supply Well trend remain to be tested.

Ten geophysical anomalies over a 5 km strike length within the Supply Well prospect area have been delineated. These anomalies present drill targets for massive and disseminated sulphides. The Supply Well prospect area has had limited exploration and contains some broad intersections of low grade disseminated nickel sulphide mineralisation containing narrow high grade nickel sulphides within discrete potentially remobilised zones. A narrow zone of high grade zinc has been intersected by drilling in the western area of the prospect.

The principal exploration target is nickel-zinc sulphide mineralisation associated with the regional east-north-easterly trending Pardoo Fault Zone. The Supply Well prospect is located within this structural zone and previous drilling has intersected significant widths of low-grade

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nickel and zinc mineralisation. Exploration targets have been identified from a number of electromagnetic anomalies along this structural zone that remain to be tested. In addition, there is potential for magnetite iron mineralisation and low grade magnetite iron mineralisation has been intersected at the Supply Well prospect.

Predictive modelling for base metal mineralisation carried out by OptiroCapital included a review of major faults, areas of high fault density, magnetic highs, favourable lithology (greenstones), geochemical anomalies and Tem and VTEM targets. The predictive modelling identified:

• An area of moderate to high prospectivity that remains relatively untested immediately to the southwest of the Supply Well prospect; and

• Areas in the central and northern part of the project area (to the west of the Supply Well Prospect) identified as low prospectivity targets; these targets are coincident with the edge of a gravity high and with a regional magnetic response.

The Company intends to conduct a staged exploration and evaluation program to test identified exploration targets. The Company has a proposed two-year exploration budget set out below.

Activity	Year 1	Year 2	Total
Geological mapping and geochemical surveys Geophysical surveys Reconnaissance drilling and analysis RC and diamond drilling and analysis Field support (materials, supplies and labour) Tenement maintenance and administration	$50,000 $80,000 $100,000 $100,000 $100,000 $30,000	$30,000 $40,000 $80,000 $160,000 $120,000 $30,000	$80,000 $120,000 $180,000 $260,000 $220,000 $60,000
Total	$460,000	$460,000	$920,000

Capital Structure

Following placement of the Shortfall shares pursuant to the Rights Issue the capital structure of the Company is set out below.

Class	Number
Ordinary Shares	398,102,531

The Company confirms that it is in compliance with the listing rules, and in particular listing rule 3.1.

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Pro-forma Balance Sheet

The Company has prepared the below pro-forma balance sheet as at 30 June 2013 based on actual funds raised under the Rights Issue and placement of the Shortfall.

Current Assets Cash and cash equivalents Trade and other receivables Total Current Assets Non-Current Assets Exploration & evaluation expenditure Total Non-Current Assets TOTAL ASSETS Current Liabilities Trade and other payables Total current liabilities TOTAL LIABILITIES NET ASSETS EQUITY Contributed equity Share-based payment reserve Accumulated losses TOTAL EQUITY	Audited Pro-forma Adjustments Note 30-Jun-13 $ $ 289,620 912,691 (a) 20,760 310,380 98,517 20,000 (b) 98,517 408,897 41,148 41,148 41,148 367,749 5,636,658 932,691 (c) 242,180 (5,511,089) 367,749	Pro-forma balance sheet 30-Jun-13 1,202,311 20,760
		1,223,071
		118,517
		118,517
		1,341,588
		41,148 41,148
		41,148
		1,300,440
		6,569,349 242,180 (5,511,089)
		1,300,440

Notes to Pro-forma

• a. Proceeds from Rights Issue applications of $381,691. Proceeds from placement of Rights Issue Shortfall of $551,000. Payment of Pardoo tenement acquisition costs of $20,000.

b. Payment of Payment of Pardoo tenement acquisition costs of $20,000.

• c. Adjustment to contributed equity following (a) and (b) above.

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