NEURIZER LTD — Interim / Quarterly Report 2012

Jul 30, 2012

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31[st] July 2012

COMPANY ANNOUNCEMENTS OFFICE AUSTRALIAN SECURITIES EXCHANGE

ASX CODE MTN

QUARTERLY ACTIVITY REPORT

1[st] April 2012 –30[th] June 2012

Marathon Resources Limited (ASX: “MTN”) presents its Activity Report for the Quarter ending 30[th] June 2012. Highlights of the past Quarter included:

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• Formal advice from the SA Department of Manufacturing, Innovation, Trade, Resources and Energy (DMITRE) that all rehabilitation requirements as specified in the Minister’s letter of 8[th] September 2011 relating to EL4355 (Arkaroola) had been completed to the satisfaction of DMITRE.

• Establishment of a repository of geological samples and data for future study into the geology of the Arkaroola area.

• Review of potential future opportunities

Completion of rehabilitation and related work on EL4355 in accordance with instructions from the SA Government

Following the SA Government’sdecision to ban exploration and mining in the Northern Flinders Ranges, the Government provided instructions in September 2011 to Marathon in relation to the company’s obligations under the terms and conditions of EL 4355 with particular emphasis on site rehabilitation and related activities. This work was completed in the first quarter of 2012. Following a DMITRE site inspection in May 2012, DMITRE formally advised the Company that all rehabilitation requirements as specified in the Minister’s letter of 8[th] September 2011 relating to EL4355 (Arkaroola) had been satisfactorily completed.

Establishment of a repository of geological samples

With the cooperation of, and agreement with DMITRE, the Arkaroola Wilderness Sanctuary, and the Environment Protection Authority (EPA), Marathon has upgraded the Painter Camp core processing and storage area so that geological samples generated by the Company’sexploration activities can be systematically and securely stored on site for the purposes of future scientific and geological research. The Painter Camp core storage facility has been significantly upgraded and secured at Marathon’s expense and all data relating to the stored drilling core and other samples have been provided to DMITRE. Core and other samples from EL4355 are now housed at the upgraded Painter Camp facility, and the facility has been registered by the EPA.

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Review of potential future opportunities

As advised in the last quarterly report, Marathon is utilising the compensation funds to undertake due diligence on a number of potential new projects in Australia and overseas. Your Board and management have been robust in researching & investigating projects of interest, and have received a number of strategic opportunities from interested parties. Shareholders will be advised as soon as possible of the Company’s plans.

MEDIA CONTACT:

Peter Williams Chairman Marathon Resources Limited (08) 8348 3500

John Field Managing Director Field Public Relations (08) 8234 9555 (0418) 819 527

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Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10, 17/12/10.

Name of entity

Name of entity	Name of entity
Marathon Resources Limited
ABN 31 107 531 822	Quarter ended (“current quarter”)
31 107 531 822	30 June 2012

Consolidated statement of cash flows
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) (1)exploration & evaluation (2)camp infrastructure (b) development (c) production (d) administration (e) Supreme Court Action costs (re 1.7b) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 (a)Other (Mt Gee Discontinuation costs) (b) Mt Gee SA Govt compensation Net Operating Cash Flows	Current quarter $A’000	Year to date (12months) $A’000
	(568) - 226 - - (43) -	(449) (241) (2,669) (849) 311 - - (582) 5,000
	(385)	521
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carriedforward)	(63)	(153)
	(63)	(153)
	(448)	368

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(448)	368
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other –Capital Raising Costs Net financing cash flows
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(448) 7,160	368 6,344
	6,712	6,712

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		120
		-
1.25	Explanation necessaryforanunderstanding ofthe transactions

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows Nil

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Nil

Financing facilities available

Add notes as necessary for an understanding of the position.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	Nil
	Nil

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	-
	-
	-
	650
Total	650

Reconciliation of cash

Reconciliation of cash	Reconciliation of cash
Reconciliation of cash at the end of the quarter (as		Current quarter	Previous quarter
shown	in the consolidated statement of cash	$A’000	$A’000
flows)	to the related items in the accounts is as
follows.
5.1	Cash on hand and at bank	14	33
5.2	Deposits at call	6,698	7,127
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
	Total: cash at end of quarter(item 1.22)	6,712	7,160

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
		At 30th June 2012 Company no longer holds any interest in any exploration tenements
		As above

Issued and quoted securities at end of current quarter

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

dates.
	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	92,207,789	92,207,789
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	N/A
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	1,000,000 1,000,000 490,000 50,000 500,000 750,000 750,000	- - - - - - -	Exercise Price On Issue 0.80 1.10 0.34 0.75 0.876 1.25 1.75 After Rights Issue 0.777 1.077 0.317 0.727 0.853 1.227 1.727	Expiry date 02.09.2012 28.12.2014 15.10.2013 15.10.2013 01.11.2013 01.11.2014 01.11.2015
	-	-	-	-
	-	-	-	-
	-	-
7.11 Debentures (totals only)	-

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.12 Unsecured - notes (totals only)

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does / ~~does not~~ * (delete one) give a true and fair view of the matters disclosed.

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Sign here: ............................................................Date: 26 July 2012......... (Company secretary)

Print name: Stuart Appleyard

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest”(items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Accounting for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

• See chapter 19 for defined terms.

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