WEEBIT NANO LTD — Capital/Financing Update 2011

Mar 9, 2011

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ACN 146 455 576

Acquisition of Iron Mineralisation Rights - Due Diligence Completed

Radar Iron Ltd (ASX: RAD) is pleased to announce that it has completed its due diligence for the acquisition of a significant package of iron ore rights from Southern Cross Goldfields Ltd (SXG) in the central Yilgarn iron district of WA.

ASX Release

10 March 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

Consequently Radar has made the initial payment of $500,000. Completion of the transaction is planned for later in March after the signing of a mineral rights agreement between the parties.

The iron rights, covered by tenement holdings in excess of 900km[2] , more than triple Radar’s current land position. SXG will continue to hold the tenement titles with Radar having the right to access, explore and exploit all iron and associated minerals.

Investors are directed to the press release of February 16, 2011 for more information.

Contact:

Jonathan Lea

Yours faithfully,

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

For or on behalf of Radar Iron Ltd

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Issued Capital:

61,880,112 Ordinary Shares 22,750,000 Unlisted Options

Jonathan Lea Managing Director

ASX Code:

RAD (Fully Paid Ordinary Shares)

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

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