WEEBIT NANO LTD — Capital/Financing Update 2011

Apr 28, 2011

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Drill testing commenced at Johnston Range

Radar Iron Ltd (ASX: RAD) is pleased to inform shareholders that reverse circulation (RC) drilling commenced at its Johnston Range project on Thursday April 28.

ACN 146 455 576

ASX Release

29 April 2011

Suite 2, 12 Parliament Place West Perth WA 6005 PO BOX 902 West Perth WA 6872

P + 61 8 9482 0580 F + 61 8 9482 0505 E info@radariron.com.au W www.radariron.com.au

The RC programme is aimed at:

• Testing a number of hematite targets indentified through geophysical interpretation and ground mapping

• Sampling of magnetite mineralisation from several prospects for metallurgical test work and assessment

• • Commencing resource definition drilling on key magnetite targets

The drill programme is expected to last 2-3 months and involve greater than 10,000m of RC drilling. Key targets initially are at the Johnston Range project area with drilling also planned for the Die Hardy project.

Depending on progressive results the drill programme will be fine-tuned to meet the Company’s objective of defining an initial hematite/magnetite resource inventory later in 2011.

Contact:

Jonathan Lea

Managing Director E jlea@radariron.com.au

Phillip Wingate Company Secretary E pwingate@radariron.com.au

Directors:

Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive

Radar is committed to rapid and effective definition of the potential mineral resource on its tenements. Since listing in December 2010, Radar has completed two small drill programmes aimed at better defining potential mineralisation and enabling optimal targeting for the initial resource evaluation drilling. Further exploration is intended to identify new hematite and magnetite targets elsewhere in the central Yilgarn for drill testing at a later stage.

Yours faithfully,

For or on behalf of Radar Iron Ltd

Issued Capital: 61,880,112 Ordinary Shares 22,750,000 Unlisted Options

ASX Code: RAD (Fully Paid Ordinary Shares)

Media Enquiries: Fortbridge +612 9331 0655 Luke Dean 0414 535 433

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Jonathan Lea Managing Director

The information in this report accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It is compiled by Mr Jonathan Lea, an employee of the Company who is a Member of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Lea has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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DRILL TESTING COMMENCED AT JOHNSTON RANGE

Figure 1: Regional Location

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Figure 2: Project Location Plan

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