PATERSON RESOURCES LTD — Major Shareholding Notification 2011

Aug 31, 2011

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ASIC registered agent number

lodging party or agent name

Iron Mountain Mining Limited C/- PO Box 3235

office, level, building name or PO Box no.

249 Hay Street suburb/city EAST PERTH state/territory WA postcode 6004 telephone (08) 9225 6475 facsimile (08) 9225 6474 DX number suburb/city

street number & name

Australian Securities & Investments Commission

ASS.  REQ-A  CASH  REQ-P  PROC.  form 603

Corporations Act 2001

Notice of initial substantial

Section 671B

holder

To Company Name/Scheme

UNITED OROGEN LIMITED ACN/ARSN 115 593 005

1. Details of substantial holder (1)

Name ACN/ARSN (if applicable)

Iron Mountain Mining Limited

The holder became a substantial holder on

30 /08/2011 Actual Initial %: (21.57%)

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

	Class of securities(4)	Number of securities	Person’s votes(5)	Voting power(6)
As at 30/08/11:	ORD	20,526,361	20,526,361	21.57%
(based on
95,159,279 ordinary
shares on issue)

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

	Holder of relevant interestNature of relevant interest(7)Class and number of securities	Holder of relevant interestNature of relevant interest(7)Class and number of securities	Holder of relevant interestNature of relevant interest(7)Class and number of securities
	Iron Mountain Mining LimitedFully Paid Ordinary Shares20,526,361
se	nt registered holders
ster	ed as holders of the securities referred to in paragraph 3 above are as follows:
	Holder of relevant interest	Registered holder of securitiesPerson entitled to be registered as	Class and number of
		holder(8)	securities
	Iron Mountain Mining Limited	Iron Mountain Mining LimitedIron Mountain Mining Limited	ORD 20,526,361

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

r is as follows:
Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of
				securities
		Cash	Non-cash
Iron Mountain Mining Limited	11/06/2010	$6,355.67	-	ORD 200,000
Iron Mountain Mining Limited	05/08/2010	$6,557.58	-	ORD 218,586
Iron Mountain Mining Limited	05/08/2010	$1,650.00	-	ORD 55,000
Iron Mountain Mining Limited	06/08/2010	$300.00	-	ORD 10,000
Iron Mountain Mining Limited	09/08/2010	$960.00	-	ORD 30,000
Iron Mountain Mining Limited	02/06/2011	$7,703.79		ORD 256,793
Iron Mountain Mining Limited	30/08/2011	$592,679.46	-	ORD 19,755,982

IRM SUBSTANIAL SHAREHOLDER NOTICE – UOG – 29AUG11

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6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and CAN/ARSN (if applicable) Name of association

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Iron Mountain Mining Limited	C/- PO Box 3235, 249 Hay Street, EASTPERTH WA6004

Signature

print name Suraj Sanghani capacity Company Secretary sign here date 30/08/2011

IRM INITIAL SSN FORM 603 IRM IN UOG 30AUGUST2011UOG

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg, a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

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IRM Initial SSN Form 603 IRM in UOG 30August2011