WEEBIT NANO LTD — Capital/Financing Update 2014

Oct 15, 2014

Company Update – October 2014

1

• A clear strategy to target high grade iron ore projects with near term production potential with a low capital cost and available infrastructure

• Current Programmes:

• development of Yerecoin Project

• exploration in Brazil

• Recent agreements enable Yerecoin to be funded through to a decision to develop

• Drilling in Brazil in November/December 2014

• First production – potentially from both projects in 2016

2

Capital Structure Fully Paid Ordinary Shares (RAD) 106,148,630 Unlisted Options 5,000,000

: Major Shareholders POTASH MINERALS LTD 21.4% LIGHTSHARE INVESTMENTS SHINEWARM RES HK GRP 9.4%

Management:

Alan Tough – Non Exec Chairman Jonathan Lea – Managing Director Ananda Kathiravelu – Non Exec Director David Sourbutts – Non Exec Director Damon Sweeny – Company Secretary

Top 20% own 68% Market Cap - $3.2M (based on trading price of $0.03)

3

• Victory Mining Pty Ltd have agreed to:

• Accept a placement of 26.1M shares at 3.5 cents

raising approximately $900,000. Funds

expected in late October, 2014.

• To fully underwrite a one for one non-

renounceable rights issue to raise approximately

$4.6M. Rights issue at a minimum of 3.5 cents to

be completed by early December 2014.

� Funds will be used to complete payment and undertake the project development studies for Yerecoin and to commence drilling in Brazil

4

• High grade iron ore development

• Production in 2016 – targeted to grow to 2mtpa

• Low risk development – technically supported, low capex

• Infrastructure available

• Huge growth in earnings potential for Radar

• Competitive production costs

• High grade product – to be sold at a premium

5

• Acquired in April 2014, in SW Western Australia near Perth

� 388Mt Inferred and Indicated JORC resource with substantial upside � Exi s tin g hi g h qua lit y t ec hni ca l da t a � Yerecoin lies adjacent to an accessible rail line to the Port of Kwinana, with Geraldton Port also a possible destination

• The ore has excellent metallurgical properties – high value concentrate

• � Radar’s staged development model has a low risk and low capex

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YERECOIN
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Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource	Yerecoin Resource
Resource	Category	Tonnes (Mt)	DTR %	In-situ Fe %	Conc Fe %	Conc Al2O3 %	Conc SiO2 %	Conc Phos %	Conc Sulphur %
Yerecoin Main	Indicated	31.0	37.4	31.4	67.7	0.2	6.0	0.01	0.0
	Inferred	99.8	35.1	29.6	68.4	0.2	5.4	0.01	0.0
	Sub-Total	130.8	35.7	29.7	68.0	0.2	6.0	0.01	0.0
Yerecoin North	Inferred	141.6	22.0	26.3	67.6	0.5	4.4	0.02	0.7
Yerecoin South	Inferred	115.9	28.1	29.8	67.9	0.4	4.2	0.01	0.8
Total	Indicated	31.0	37.4	31.4	67.7	0.2	6.0	0.01	0.0
Yerecoin	Inferred	357.3	27.6	28.3	67.9	0.4	4.6	0.01	0.5
Resource	Total	388.3	28.4	28.6	67.9	0.4	4.7	0.01	0.5
Notes: • DTR – Davis tube recovery • Conc – refers to concentrate grade

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• Coarse grained magnetite

• Excellent metallurgical properties

• 68% Fe concentrate with low contaminants

• 105 micron grind

• DTR up to 35%

• High value premium product

	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13	Fe% SiO2% Al2O3% CaO% MgO% P% S% MnO TiO2 Na2O LOI 68.6 4.3 0.12 0.17 0.28 0.014 0.008 0.057 0.027 0.005 -3.13
	Fe%	SiO2%	Al2O3%	CaO%	MgO%	P%	S%	MnO	TiO2	Na2O	LOI
	68.6	4.3	0.12	0.17	0.28	0.014	0.008	0.057	0.027	0.005	-3.13

Indicative Concentrate Grade

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• Comprehensive scoping studies completed by previous owners and by Radar

• Recent resource upgrade to partial Indicated status will facilitate further feasibility work

• Metallurgical review

• Transport optimisation engineering studies

• Mining engineering for Stage 1 pit development

• Environmental surveys for regulatory approvals

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� 150 km NNE of Perth � Approximately 200km by rail to Kwinana � Alternate route - truck and rail to Geraldton � Largely covering cleared farming land � Excellent road access � Opportunity for a community integrated development 10

• Rail line direct to Kwinana – preferred destination

• Kwinana has approval for expansion if required

• Al so t e nti a l it a t Ge r a l d t o n – po capac y

• alternate port

• Ship loading options:

• Bulk jetty

• Rotainer loading from containers

• Radar is already in discussions covering a number of options with current exporters

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• Development studies have commenced

– production planned in 2-3 years

� Longer term approval items (eg environmental surveys) have commenced

� Discussion continuing with port and rail suppliers to optimise infrastructure � Offtake partner identification – project development aimed at satisfying their requirements

12

Uruara Project – Brazil

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• Grass roots exploration play – new discovery in unexplored region – first mover advantage

• Potential for high grade iron ore discovery

• Mapping, sampling and ground magnetics to date

• 50% Farm-in commenced via JV with plan to move to 100%

• Direct shipping lump ore

• Infrastructure available

• Exploration team in place – drilling in December Quarter 2014

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• Not typical pre-Cambrian Banded Iron – metamorphosed and enriched Phanerozoic sediments in Amazon Basin

• Mineralisation recrystallised into massive haematite and magnetite

• • � E xp orat on otent a : l i P i l 20 40M t at 58 65% F e

The potential quantity and grade of iron deposits reported as exploration potential is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

15

• Only a small part of tenement holding mapped to date

� Surface mineralisation mapped in zones interpreted to be150-400m wide and up to 2.5km in length – isolated outcrops orm ng e f i d fi na bl e tren d s � Channels excavated by previous owners - indicate ore zones are at least 4m thick

• 51 rock chip samples taken from all rock types

• 32 results from high grade mineralisation (55% Fe cut-off) average 62.0% Fe, 1.0% Al2O3, 4.5% SiO2 and 0.05% P

• Ground magnetic survey supports continuity of mineralisation

16

• Drill testing first pass targets in December quarter

• Continuing mapping and sampling

• Initial environmental and logistics studies

• Further magnetic surveys for drill targeting

� Rapid development possible through trial mining provisions

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• Transport – Panamax navigable rivers on three sides (Amazon, Tapajos, Xingu)

• 5km from Trans-Amazonia Highway, asphalt program underway

• Progressively being sealed

• 1-2years will be sealed at Uruara

• Accessible for iron ore trucking

• Numerous nearby population centres – 40km to town of Uruara

• 200km from giant 11,000MW Belo Monte Hydro scheme, currently under construction

18

Central Yilgarn Project, WA

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	Central Yilgarn Project
�	Assets located in Central Yilgarn -
	hematite being mined by others (Cliffs
	and Mineral Resources)
�	1,200 km2 of tenements/>120km BIF
�	Hematite and magnetite resources –
	� Hematite resource: 2.1Mt at 57.6 % Fe
�	Significant hematite potential
	throughout tenement holding - largely
	unexplored for iron ore
�	Existing road/rail infrastructure
�	Rapid project development possible but
	project deferred pending expansion of
	Esperance Port – planned for 2016	20

COMPETENT PERSON’S STATEMENTS

The information in this presentation is compiled by Mr Jonathan Lea, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Lea is a full-time employee of Radar Iron Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 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.

PREVIOUS REPORTED RESULTS YERECOIN

A Mineral Resource was established previously for the Yerecoin Magnetite Deposit in 2014. This information was reported under the 2012 Edition of the “Australasian Code A Mineral Resource was established previously for the Yerecoin Magnetite Deposit. This information was reported under the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Mineral Resource was detailed ASX releases that are available to view on the Company’s website www.radariron.com.au. The ASX releases were:

“ Major Project Acquisition ” on 24/04/2014

“Yerecoin Resource Upgrade” on 08/09/2014

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the data in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that any production target itself will be realised.

PREVIOUS REPORTED RESULTS URUARA

There is information in this announcement relating to surface sampling assays at the Uruara Project completed in two sampling programmes in 2013 and one in 2014. These were detailed in ASX releases and available to view on the Company’s website www.radariron.com.au. The ASX releases were:

“Brazilian Iron Ore Project – Update 1” on 18/11/2013 and

“Brazilian Iron Ore Project – Update 2” on 15/01/2014 “Brazilian Update – Uruara Project Option Exercise” on 21/01/2014 “Brazilian Iron Ore Project – Update 6” on 02/04/2014

An Exploration Target was established previously for the Uruara mineralisation following assessment in 2013. This was detailed in an ASX release and is available to view on the Company’s website www.radariron.com.au. The ASX release was:

“Brazilian Iron Ore Project Acquired” on 13/11/2013

The potential quantity and grade for Exploration Targets is conceptual in nature. There has been insufficient exploration to estimate a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the data in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

PREVIOUS REPORTED RESULTS CENTRAL YILGARN

Mineral Resources were established previously for the Die Hardy Magnetite Deposit and the Muldoon Hematite Prospect in 2011 and 2012 respectively. This information was first reported under the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. and has not been updated. The Mineral Resources were detailed in ASX releases and are available to view on the Company’s website www.radariron.com.au. The ASX releases were:

“Maiden 353Mt Magnetite JORC Resource for Die Hardy” on 16/11/2011, and

“Maiden Hematite JORC Resource for Muldoon Prospect” on 08/05/2012.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the data in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.