NEURIZER LTD — Capital/Financing Update 2011

Feb 6, 2011

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7 February 2011

Manager, Announcements Australian Securities Exchange By e-Lodgement ASX Online

RENEWAL OF S.A. EXPLORATION LICENCE 4355, SHARE PLACEMENT, PLANNED RIGHTS ISSUE AND EGM

Renewal of EL 4355

Marathon Resources Ltd (Marathon) (ASX: MTN) is pleased to advise shareholders of the renewal of the Company’s exploration licence, EL 4355. Marathon will conduct approved exploration activities on this highly prospective Australian project and will focus on:

• increasing our knowledge of known deposits;

• testing the recently discovered high grade shear systems;

• • assessing rare earth element (REE) occurrences within the tenement

Share Placement.

In order to provide funding for the next phase of exploration, Marathon has raised approximately $5.46 million (before expenses) via a placement of 10,920,301 fully paid ordinary shares at $0.50 per share to key institutions and existing major shareholders, Talbot Group Investments Pty Ltd and CITIC Australia Pty Ltd. Marathon is grateful for the ongoing support of its major shareholders and welcomes the new shareholders to its registry.

As none of the participants are related parties of the Company and the placement falls within the Marathon’s 15% placement capacity under ASX Listing Rule 7.1, the Company is not required to seek shareholder approval for the placement.

Proposed Rights Issue to Shareholders

Marathon is also pleased to announce it intends to offer existing eligible shareholders the opportunity to participate in a one for 10 non-renounceable rights issue at the same price as the placement, to raise up to an additional $4.4m (before expenses).

The funds raised from the placement and the proposed rights issue will be applied towards exploration activities and the general working capital requirements of Marathon.

Full details of this rights issue are expected to be announced in the week commencing 14 February 2011.

Extraordinary General Meeting (EGM)

An EGM of shareholders will be called for a date in March 2011 to ratify the share placement.

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MEDIA CONTACT:

Belinda Hill John Field Manager –Corporate Affairs Managing Director Marathon Resources Limited Field Public Relations (08) 8348 3500 (08) 8234 9555 0431 721 687 0418 819 527 bhill@marathonresources.com.au john@fieldpr.com.au

Notes to Editor

Marathon Resources is a minerals exploration company focused on the development of several prospects in the North Flinders Ranges.

These prospects (including Mt Gee, which is one of Australia's largest undeveloped uranium deposits), are located within the Paralana Mineral System of South Australia, a uranium-rich state that is home to the Olympic Dam deposit.

Marathon listed on the Australian Securities Exchange on 15 March 2005, under the stock code of MTN

www.marathonresources.com.au