WEEBIT NANO LTD — Interim / Quarterly Report 2015

Jul 30, 2015

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ACN 146 455 576

Quarterly Activities Report

For the three months ended 30 June 2015

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its Quarterly Activities Report for the period ended 30 June 2015.

No active exploration was completed during the quarter.

ASX Release

31 July 2015

Suite 8, 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 - Non-Executive Ananda Kathiravelu - Non-Executive David Sourbutts - Non-Executive

Issued Capital

132,248,630 Ordinary Shares 5,000,000 Unlisted Options

Management’s key focus during the quarter aimed at executing the corporate strategy of minimising expenditure and to lift the suspension in trading on the Company’s shares while reviewing options to revitalise the company.

As detailed in the previous quarterly report, Radar made a single final payment to the vendors of the Yerecoin project in April to complete the purchase and now owns the project outright. Details of the settlement were in Radar’s ASX release “Yerecoin Settlement”, dated April 24, 2015, available at Radar’s web site www.radariron.com.au.

Radar raised $615,000 to complete the transaction through convertible loan agreements with sophisticated professional investors who are unrelated parties. Approval for these loans to be converted to shares will be put to the shareholders at the next general meeting.

Radar has minimised expenditure to conserve cash during the quarter while assessing a number of potential new investments opportunities in exploration/mining but also in other commercial areas.

Managing Director, Jonathan Lea accepted a Non Executive Director role to reduce overall Director remuneration. All tenement holdings were reviewed and non core tenements were surrendered (ie Northam tenements). A sustainable cash flow forecast for the coming 12 months was completed which is expected to facilitate completion of the half-year statutory review of the accounts and enable requotation on the ASX in the near term.

The Company’s view is that while the recent conditions for iron ore explorers have been exceedingly trying, Radar has acted responsibly to conserve the existing cash while actively looking for new investment opportunities to reinvigorate the Company. We thank our shareholders for their patience and assure all stakeholders that the Board will do its utmost to increase the value of the company going forward.

ASX Code

RAD (Fully Paid Ordinary Shares)

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For the Three Months Ended 30 June 2015

Quarterly Activities Report

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YERECOIN PROJECT

Radar Iron Ltd acquired the Yerecoin Iron Ore Project in April 2014.

The Yerecoin project area is within approximately 150km of Perth and is adjacent to an accessible rail line. Yerecoin has been drilled with sufficient density to enable resource estimation. The Company has reported JORC 2012 Inferred and Indicated Mineral Resources of 383Mt – refer ASX releases of 24 April 2014 “ Major Project Acquisition ” and 8 September 2014 “ Yerecoin Resource Upgrade ” as available on the Company’s website www.radariron.com.au .

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Figure 1: Project Location

NORTHAM PROJECT

Following a review of the Radar’s Northam tenements (See Figure 1), a decision was made to surrender these tenements during the quarter. Five tenements, E70/2783, E70/3937, E70/3938, E70/3939 and E70/3940 were surrendered and Radar has no further liability on this ground.

URUARA BRAZIL PROJECT

Despite the potential of the Uruara Project, a decision was made to withdraw to conserve cash. Details were provided in Radar’s ASX release “Withdrawal from Brazil Project”, dated April 21, 2015, available at Radar’s web site www.radariron.com.au.

Even after encouraging results from a recent drilling programme and the potential for the low cost extraction and transport of the DSO mineralisation, given the depressed state of the iron ore market and obligatory future option fees payments under the farm-in agreement, Radar decided not to proceed with the farm-in process for Uruara.

Radar notified its Brazilian partner that it was not proceeding with the farm-in and has no ongoing liabilities for the project.

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Quarterly Activities Report

For the Three Months Ended 30 June 2015

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YILGARN PROJECT

No field work completed.

CORPORATE

Radar’s main focus during the quarter was aimed at lifting of the voluntary suspension from trading in the Company’s securities which Radar put in place in late 2014.

As part of the cost minimisation programme, Managing Director, Jonathan Lea resigned his executive role and was subsequently appointed as non–executive director. All directors now receive a monthly payment of $3,000 per month, a further reduction in recurrent expenditure.

Options are being reviewed to minimise expenditure on all tenement holding in the near future, leading to the surrender of the Northam tenements as mentioned above and other strategies such as using retention licenses to keep tenements in good standing while restricting obligatory expenditure.

An option agreement signed with Padbury Mining Limited in December 2014, to sell Radar’s Johnston Range and Die Hardy Projects located in the Central Yilgarn has expired but negotiations continue and it remains opens for Radar to accept the arrangement subject to the funding being obtained by Padbury. Details of the option agreement were contained in Radar’s December 2014 Quarterly Report to the ASX dated January 28, 2015, which is available at Radar’s web site www.radariron.com.au.

The Company’s cash balance at the end of the quarter was $240,000.

ANNOUNCEMENTS

The Company has made the following announcements since the start of the quarter.

Date	Headline
21/04/2015	Withdrawal from Brazil Project
24/04/2015	Yerecoin Settlement
29/04/2015	QuarterlyActivitiesReport
30/04/2015	Quarterly Cashflow Report

For or on behalf of Radar Iron Ltd

Jonathan Lea Director

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Quarterly Activities Report

For the Three Months Ended 30 June 2015

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COMPETENT PERSON’S STATEMENT

The information in this report that relates to Exploration Results is based on information 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

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.

CAUTION REGARDING FORWARD LOOKING INFORMATION

This document contains forward looking statements concerning Radar. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Radar’s beliefs, opinions and estimates of Radar as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future development.

APPENDIX 1 – TENEMENTS HELD AT 30 JUNE 2015

Lease	Location	Interest at End of Quarter	Acquired During the Quarter	Disposed of During the Quarter
E77/1926	Yilgarn WA	100
E77/1280	Yilgarn WA	100
E77/1281	Yilgarn WA	100
E77/1807	Yilgarn WA	100
E77/1961	Yilgarn WA	100
E77/2240	Yilgarn WA	75.5
E70/2783	Northam WA	0		100
E70/3937	Northam WA	0		100
E70/3938	Northam WA	0		100
E70/3939	Northam WA	0		100
E70/3940	Northam WA	0		100
E70/2733	Yerecoin WA	100
E70/2784	Yerecoin WA	100
E70/3990	Yerecoin WA	100
E70/4388	Yerecoin WA	100
E70/4391	Yerecoin WA	100

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