TUNGSTEN MINING NL — Capital/Financing Update 2012

Dec 12, 2012

10 December 2012

Tungsten Mining NL – Advice of Close of Offer and Completion of Contracts

The Directors of Tungsten Mining NL are pleased to confirm:

1. Close of the offer under the prospectus dated 2 October 2012 and completion of the issue of 25,554,379 ordinary shares each fully paid at an issue price of $0.20 per share.

2. Satisfaction of conditions and completion of the SM3-W Sale Agreement dated 17 January 2012 between the Company and SM3-W Pty Ltd (“SM3-W”) for the purchase by the Company of SM3-W including the payment of the $200,000 and the issue to SM3-W of 4,000,000 fully paid ordinary shares in the Company to SM3-W.

3. Satisfaction of conditions and completion of the Minerals Right Agreement dated 21 December 2011 between the Company and Northern Minerals Limited including the payment of $100,000 and the issue of 4,000,000 fully paid ordinary shares in the Company to Northern Minerals Limited.

4. Satisfaction of conditions and completion of the BRL Sale Agreement for the purchase by the Company of BRL Exploration Pty Ltd including the payment in of $5,000 into a trust on behalf of the Vendors and the issue of 8,000,000 fully paid ordinary shares in the Company to the Vendors.

5. Satisfaction of conditions and completion of the MWYN Agreement dated 31 May 2012 between the Company and MWYN Pty Ltd including the payment of $39,000 and the issue of 150,000 fully paid ordinary shares in the Company to MWYN Pty Ltd.

6. Satisfaction of conditions and completion of the Richmond Agreement dated 24 July 2012 between the Company and Richmond Resources Pty Ltd (“Richmond”) including the issue of 2,000,000 fully paid ordinary shares in the Company to Richmond.

7. Satisfaction of conditions and completion of the Data Agreement between the Company and Magnetic Resources NL including the issue of 500,000 fully paid ordinary shares in the Company to Magnetic Resources NL.

8. Satisfaction of conditions and completion of the Emu Data Agreement between the Company and Emu Nickel NL including the issue of 500,000 shares in the Company to Emu Nickel NL or its nominee.

Kind regards,

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Paul Berndt Managing Director Tungsten Mining NL Phone: +61 8 9477 3031 Website:www.tungstenmining.com Twitter: latest@tungstenmining