WEEBIT NANO LTD — Interim / Quarterly Report 2013

Oct 28, 2013

Quarterly Activities Report For the three months ended 30 September 2013

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ACN 146 455 576

ASX Release

31 October 2013

Suite 7, 55 Hampden Rd Nedlands WA 6009 PO BOX 994 Subiaco WA 6904

P + 61 8 9389 9919 F + 61 8 9389 0576 E info@radariron.com.au W www.radariron.com.au

Contact

Jonathan Lea Managing Director E jlea@radariron.com.au

Damon Sweeny Company Secretary E damon@ampereltd.com.au

Directors

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

Issued Capital

81,340,070 Ordinary Shares 23,050,000 Unlisted Options

ASX Code

RAD (Fully Paid Ordinary Shares)

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its quarterly activities report for the quarter ended 30 September 2013.

During the quarter Radar focused on the review of potential acquisitions within the Yilgarn, and in other districts both within Australia and globally.

Radar announced in October that Lusona Capital of Sydney had been appointed as a corporate advisor specifically aimed at acquiring a South American iron ore project. Radar is currently reviewing this and other projects.

The Board of Radar maintains a cash expenditure minimisation policy for active exploration in the Yilgarn while a decision is made on the timing for the expansion of the Port of Esperance and also owing to present market conditions.

The Esperance Port Authority is continuing the selection process for a preferred developer for the expansion of the port with a short list of two consortia. The Port Authority anticipates the expanded multi-user facility will be operational in 2015. Radar is well positioned to develop its Johnston Range hematite deposits in this time frame. Once the developer is appointed and timing for operation clarified then Radar will recommence project development activity.

Recent infrastructure studies suggest that an approximately 10Mtpa upgrade to port capacity can be achieved for a reasonable cost. The rail infrastructure to Esperance while needing some upgrade is also suited for this scale of increase.

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Figure 1: Project Location

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Quarterly Activities Report

For the Three Months Ended 30 June 2013

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Background

Within its Central Yilgarn Project Radar has defined resources of hematite and magnetite.

At Johnston Range multiple hematite targets up to approximately 800m in length (generated through a combination of geological mapping, aero-magnetic and gravity geophysical interpretation) have been identified. Radar has progressively drill tested these zones with the aim of delineating sufficient resources to justify mining by the time the port of Esperance is expanded to enable export.

The prospects lie around the Horse Well Anticline that defines the 40km long belt of banded iron formation on the Johnston Range tenements (Figure 2) and also on adjoining banded iron formation (BIF) ridges in the Evanston project. Johnston Range is comprised of multiple bands of BIF which represent a target of several hundred linear kilometres of BIF with potential for hematite enrichment.

Johnston Range remains Radar’s key focus given the significant potential for hematite mineralisation. Drilling to date has only tested the more obvious targets at Johnston Range and the presence of multiple BIF bands and the variable strike length of the mineralisation means there are a significant number of potential hematite targets yet to be drill tested.

The Muldoon Prospect has been drilled with sufficient density to enables resource estimation – which stands at 2.1Mt at 57.6% Fe – as announced in ASX release dated 8/05/12. Recent mapping and drilling has indicated potential for the resource to be increased.

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Figure 2: Yilgarn Prospect Location
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Quarterly Activities Report

For the Three Months Ended 30 June 2013

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The potential for a major body of magnetite mineralisation at the Die Hardy Range (see Figure 2) was indentified in 2010 through reconnaissance mapping. A substantial RC drilling programme in 2011 resulted in the estimation of a maiden mineral resource estimation by consultant firm CSA Global in October 2011 and resulted in a JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade of 353 million tonnes at 26.1% Fe (215Mt 26.7% Fe Indicated and 138Mt at 25.2% Fe Inferred). Details of the resource estimation procedure and ore body characteristics were provided in Radar’s December Quarterly report to the ASX on January 31, 2012.

Radar is seeking a partner to progress this project, with the next stage of work expected to involve further resource drilling and metallurgical test work. The scoping study completed in 2011 suggested the project had robust economics, and the work to date along with the realistic regional transport options suggest a significant magnetite operation can be successfully established at Die Hardy.

The deposit outcrops as a ridge of magnetite bearing banded iron formation (BIF) over 3km in length. The BIF is partially demagnetised to a depth of 40-50m. Reverse circulation (RC) drilling intersected massive magnetite mineralisation with widths from 100 to 300m to a depth of 350m below surface. Drilling to date has not yet fully defined the extent or the depth of mineralisation.

The mineralisation has been tested for approximately 40% of its strike extent on Radar’s tenements and remains open along strike and at depth. Davis Tube Recovery (DTR) results and metallurgical test work indicates that a concentrate can be produced exceeding 69% Fe with low levels of contaminants at a grind size of 50 micron. This indicates that the mineralisation can be treated and has excellent potential for producing a saleable concentrate.

Project Generation

The Company will continue to review potential acquisitions within the Yilgarn, and in other districts within Australia and globally, with a view to assessing opportunities with a focus on low capex, early cash flow iron ore projects that can add value to the Company and its shareholders via acquisition or investment.

Given the current market conditions new opportunities are presenting regularly. Radar is committed to diligently assess the more prospective of these to ensure that Shareholders value is maintained and increased.

As announced on 7 October 2013, Lusona Capital was appointed to assist in identifying specific opportunities in iron ore, particularly in Latin America.

Lusona is an investment and corporate advisory firm based in Sydney with an excellent record in the identification, acquisition and financing of mining projects. Under the mandate Radar will issue new options to Lusona Capital as follows:

Tranche 1 – 2.5M unlisted options exercisable into fully paid ordinary shares at a five cent price each and vesting on the signing of an agreement to acquire an interest in an iron ore project currently under review.

Tranche 2 - 2.5M unlisted options exercisable into fully paid ordinary shares at a five cent price each and vesting on the first shipment of iron ore from the project currently under review.

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Quarterly Activities Report

For the Three Months Ended 30 June 2013

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Both tranches have a five year expiry from date of issue and specifically relate to an identified iron ore project in South America.

Corporate

Radar’s cash position at the end of the quarter was $838 thousand.

Radar completed its move to smaller premises to reduce overhead and corporate costs. As part of this process Radar’s link with corporate services provider, Ventnor Capital, was terminated and a new Company Secretary appointed – Damon Sweeny as notified to the ASX on 15 August 2013. Radar acknowledges the professional support provided by Ventnor Capital in the 3 years since Radar floated - in particular the outgoing Company Secretary, Phillip Wingate.

Announcements

The Company made the following announcements during the quarter.

Date	**Headline **
31/07/2013	QuarterlyActivities and Cashflow Report
15/08/2013	Change of RegisteredAddress and Company Officeholder
23/08/2013	Change of Director'sInterestNotice
03/09/2013	Releasefromescrow
06/09/2013	SecondaryTradingNoticePursuant to s708A(5)
30/09/2013	Annual Report to shareholders

For or on behalf of Radar Iron Ltd

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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.

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.

Information in this report that relates to the Mineral Resource estimate for Muldoon reflects information compiled by Mr Alexey Zharnikov a full time employee of CSA Global Pty Ltd, who is a member of the Australian Institute of Geoscientists (AIG). Mr Zharnikov has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is reporting to qualify as a Competent Person as defined in the 2004 Edition of the

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Quarterly Activities Report

For the Three Months Ended 30 June 2013

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“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Zharnikov consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.

The information in this report relating to exploration results, sampling data validity and quality, mineralisation density and general project descriptions used in the Die Hardy Resource Estimate accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It was reviewed by Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Voortman 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 Voortman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Information in this report that relates to the Mineral Resource for Die Hardy estimate reflects information compiled by Mr Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of the AusIMM. Mr Voortman is a Competent Person as defined by the JORC and is a full time employee of CSA Global Pty Ltd as Principal Resource Geologist and Geostatistician. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is reporting 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 Voortman consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.

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