PATERSON RESOURCES LTD — M&A Activity 2012

Sep 20, 2012

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21 September 2012

Company Announcements Office ASX Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

Iron Mountain Mining Limited (Iron Mountain, ASX:IRM) – off-market takeover bid for United Orogen Limited (United Orogen, ASX:UOG)

We refer to Iron Mountain’s off-market takeover bid for all of the fully paid ordinary shares in United Orogen (Offer).

Iron Mountain has today waived all of the defeating conditions to the Offer set out in section 10.1 of the Bidder’s Statement.

The Offer and any takeover contracts arising from acceptance of the Offer are now unconditional.

We enclose a copy of the notice under s650F of the Corporations Act 2001.

Yours faithfully

On behalf of

IRON MOUNTAIN MINING LIMITED

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David Zohar Director

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IRON MOUNTAIN MINING LIMITED

(ACN 112 914 459)

NOTICE TO FREE OFFER FROM CONDITIONS

TO: United Orogen Limited

AND TO: ASX Limited

In relation to the offer (“Offer”) made pursuant to the Bidder’s Statement dated 27 July 2012 (“Bidder’s Statement”) by Iron Mountain Mining Limited (ACN 112 914 459) (“Iron Mountain”), Iron Mountain gives notice under section 650F of the Corporations Act that:

• a) it declares the Offer and any takeover contract arising from acceptance of the Offer free from the conditions set out in section 10.1 of the Bidder’s Statement, being free of all of the conditions which have not already been fulfilled; and

• b) as at the date of this notice, Iron Mountain’s voting power is 77.22% comprising 84,030,505 shares out of a total of 108,825,946 shares presently on issue.

Unless the context requires otherwise, defined terms in the Bidder’s Statement have the same meaning in this notice.

Dated: 21 September 2012

Signed on behalf of Iron Mountain Mining Limited

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David Zohar Director