WEEBIT NANO LTD - Interim / Quarterly Report 2014

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ACN 146 455 576

ASX Release

28 January 2014

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 [email protected] W www.radariron.com.au

Contact

Jonathan Lea Managing Director E [email protected]

Damon Sweeny

Company Secretary E [email protected]

Directors

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

Issued Capital

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

ASX Code

RAD (Fully Paid Ordinary Shares)

Quarterly Activities Report

For the three months ended 31 December 2014

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its Quarterly Activities Report for the period ended 31 December 2014.

The main field work was a drilling programme completed at the Uruara Brazilian Iron Ore Project.

Management’s key focus during the quarter has been to secure funding to complete the Yerecoin acquisition and provide working capital.

To this end, Radar commenced a two stage funding programme after approval from Shareholders at meetings in October and November aimed at raising $5.5M.

In Stage 1, Radar issued 26.1m shares to a private Australian investment company, Victory Mining Pty Ltd (“Victory”) in November at a price of 3.5 cents a share to raise $0.91M. As a result, Victory now holds approximately 19.7% of Radar’s expanded issued capital.

For Stage 2, Radar initiated a fully underwritten rights issue to raise a further $4.6M at a price of 3.5 cents per share closing, after extension, on 17[th] December 2014. The rights issue was fully underwritten by Victory and conditional upon (amongst other things) the iron ore price not falling below a specified level. Owing to the substantial reduction in the iron ore price in November and December, Victory terminated its underwriting commitment. As a consequence Radar withdrew the rights issue and returned all application funds.

Radar and Victory have remained in discussions since the termination of the rights issue aimed at finalising a new investment agreement between the parties. Radar shares have been in suspension while this process occurs.

The funds, once procured, will enable the Company to progress the Technical Studies necessary to achieve a development decision at Yerecoin and to undertake further exploration at the Uruara project.

A limited, first pass drilling programme was completed for the Uruara Project – with assay results pending. Visual assessment suggests that the target of high grade DSO iron ore was intersected in a number of holes and further work is justified.

The Company’s strategic objective remains to become a producer of high quality, higher margin DSO and magnetite concentrates for the steel industry.

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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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: Western Australia Project Location

In the past quarter work has been limited as the company resolves the financing issues. Once these are resolved significant project development studies are planned.

Studies have continued aimed at further assessing the data and to facilitate project development. These include:

a mining engineering review of previous pit optimisation results to establish priority locations for initial development
continuing review of environmental data and approvals to confirm existing level of understanding and define the timelines required for rapid project development
cost review studies to refine assumptions and better define areas needing further assessment
ongoing transport option reviews along with discussions with infrastructure providers to determine the most cost effective means of land and sea movement

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For the Three Months Ended 31 December 2014

Quarterly Activities Report

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These studies have been undertaken using a combination of internal Company resources along with a number of external consultants. The aim is to progressively understand the optimal processes and infrastructure networks that will enable production within approximately 2 years.

Radar’s business model envisages initial production of approximately 250,000 tonnes of high quality (>68%Fe) magnetite concentrate per annum using a small scale production plant for an estimated capital cost of approximately $20-30m. Once any technical issues are resolved a production level of approximately 2mtpa is possible.

The location of the deposit directly adjacent to a WA Government owned rail line will enable transport to the port of Kwinana for relatively low cost with several berth options being considered to enable export.

Once the funding for the Yerecoin project development work is secured, the ongoing technical evaluation studies will ratchet up in scope. These studies into metallurgical properties, reserve definition, transport options etc., are continuing and negotiations continue with infrastructure providers to better define the cost structure.

New drill campaigns will be planned following the pit definition work aimed at obtaining further samples for metallurgical assessment and to increase the confidence in the current resource base.

URUARA BRAZIL PROJECT

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Figure 2: Uruara Project Location

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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Project Update

A small diamond drilling and sampling program was completed at the Uruara DSO project in Para State, Brazil. 8 short (to 22m maximum depth) NQ diamond holes were drilled for a total of 148m. All holes were angled at 70 degrees. Further rock chip channel samples were also obtained from previously excavated trenches.

Drill holes were located on three prospects – Cacao, Limao and Jacare, located to test the nature and thickness of high grade iron mineralisation in surface outcrop targeted in areas with significant geophysical response. With little subsurface information available from previous work, other than shallow trenching, this program was very much first pass in nature, designed to gain as much geological information as possible.

A small tractor mounted rig (requiring minimal clearing) was sourced from a local Itaituba contractor. The drill contractor mobilised to site on the 2nd of December 2014, and completed the work and demobilised on the 20th of December 2014. Channel sampling of trenches was undertaken concurrently. Core and samples were prepared and submitted to the lab for assay in early January 2015, with results expected late January or early February.

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JACARE
LIMAO
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Figure 3. Mineralisation and Sample Location – Southern Part of EL 850.245

Cacao Drilling

Three holes were positioned on the southern portion of the Cacao prospect, along a northsouth line. The holes all intersected high grade iron mineralisation from near surface, with thicknesses varying from 1m to over 8.5m, before entering underlying clays and weathered gabbro. Variable weathering in some zones resulted in areas of poor core recovery.

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Quarterly Activities Report For the Three Months Ended 31 December 2014

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Geologically, there would seem to be a variable surficial iron layer, overlying gabbro and clays (with a possible skarn association), with mineralisation being laterally extensive but of variable thickness – but generally thickening toward the north.

A trench had previously been excavated adjacent to hole UCD-003, to a depth of some 4m, showing high grade mineralisation to the bottom. Hole 3 drilled beneath this trench and demonstrated vertical continuation of mineralisation to 8.5m, suggesting further work needs to concentrate in this area. Hole details are provided in Appendix 2.

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UCD003
UCD002
UCD001
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Figure 4. Cacao Magnetic Image and Drill Hole Location

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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Limao and Jacare Drilling

Five shallow holes were drilled near outcrop on Limao and Jacare. The two targets are long linear mineralised trends and the holes were located primarily to take advantage of good access adjacent to outcrop and positive geophysical response.

Drilling at the Limao target intersected up to 8m of iron mineralisation.

The holes at Jacare were adjacent to the main access road, and returned up to 8m of iron mineralisation, over a basement of sandstone or carbonates. Owing to the partially weathered material being drilled, core recovery was patchy. Hole details are provided in Appendix 2.

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UJD004
Jacare
UJD006
UJD005
Limao
ULD002
ULD001
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Figure 5. Cacao Magnetic Image and Drill Hole Location

To provide more information of the iron grade relative to weathered particle size, a program of sampling of existing trenches was undertaken.

Three old trenches were cleaned and vertically channel sampled at roughly 20cm intervals, with a sample of size of at least 5kg and up to 10kg with a representative mix of grain sizes. A total of 42 samples were taken. Results are yet to be returned.

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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Figure 6. Massive hematite and magnetite in UJD-hole 005

Summary and Recommendations

The program was successful in identifying areas of high grade iron ore mineralisation and has demonstrated that while high grade mineralisation does extend to some depth, that thickness is variable and more structurally complex than hoped. The highly weathered and variable particle size (from boulders to fines) of the mineralisation meant that in places NQ diamond coring was not the optimal sampling method.

Previously, using surface sampling and mapping data an exploration target for the high grade mineralisation of 20Mt-40Mt at 58-65% Fe was estimated (based on a mineralisation depth of 5m) as detailed in an ASX release “Brazilian Iron Ore Project Acquired” on 13/11/2013 and is available to view on the Company’s website www.radariron.com.au. The potential quantity and grade is conceptual in nature. 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.

The drilling results suggest that the exploration target tonnage range is still appropriate but no comment on grade can be made until the assays are returned. Given the low expected capital for any project development (owing to access to existing infrastructure) and potentially low operating costs for mining and transport the project remains highly attractive at these potential ore tonnages.

Subject to the assay results, further work will be planned. It is likely that pitting and trenching is likely to be more effective to determine the grade extent and depth of the mineralisation.

Project Background

The Uruara Project covers approximately 39,000Ha of tenements with excellent exploration potential for high grade lump iron ore. Subject to positive drilling results, the presence of accessible infrastructure and the supportive Brazilian mining environment could enable an initial mining operation to begin within 2 years for low capital. Following due diligence

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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completed early in 2014, Radar entered a farm-in agreement to acquire 50% of the Uruara high grade iron ore project in Para State, Brazil, from a private Brazilian company.

Previous reconnaissance mapping and rock chip sampling indicated the presence of substantial surface occurrences of high grade hematite and magnetite mineralisation. Rock chip assay values are commonly above 60% Fe with low levels of contaminants.

Three main corridors of mineralisation have been interpreted to date forming zones 150400m in width and up to several kilometres in length. The mineralisation commences at surface. No previous drilling has been completed.

Should mining be possible, the proposed production route would involve onsite crushing and screening prior to the ore being trucked to one of several existing deep water river ports for direct loading or via barge onto ships.

The Trans Amazonian Highway leads to the ports of Vitoria du Xingu and Santarem. Panamax (60,000t) size ships can navigate the Amazon River in the area and there are numerous operating Panamax ports in the region.

Initial trial mining approvals for approximately 300,000tpa per lease may be obtained in Brazil normally after a six month to twelve month process.

Previous work has included mapping, sampling, costeaning and a ground magnetic survey in 2014.

YILGARN PROJECT

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Figure 7. Central Yilgarn Project Location

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For the Three Months Ended 31 December 2014

Quarterly Activities Report

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Within its Central Yilgarn Project, Radar has defined resources of hematite and magnetite. With the acquisition of the Yerecoin Project in 2014however the Central Yilgarn Project is now a lower priority and Radar has been looking for opportunities to divest or farm out the project.

In December, Radar signed an option agreement with Padbury Mining Limited to sell its Johnston Range and Die Hardy Projects located in the greater Central Yilgarn Project area. This was announced to the ASX on December 3.

The total payment for the two tenement groups is $500,000 if the option is exercised following due diligence – to be complete by the last week of February 2015. A nonrefundable $10,000 option fee was paid at the time of signing.

The tenement groups contain the Johnston Range hematite and the Die Hardy magnetite deposits discovered by Radar in recent years (see below). Radar still holds the iron rights over a substantial area of tenements in the Central Yilgarn area (eg the Jackson and Boondine Project areas) but the holding and operational costs are largely met by the tenement owners.

Project Background

The Central Yilgarn Project covers over 1000km[2] of tenements with proven potential to host hematite and magnetite mineralisation. Following exploration the Johnston Range hematite and the Die Hardy magnetite deposits discovered while the remaining tenure still requires further work to confirm resource potential.

The WA State Government has selected a preferred developer to expand the export capacity of the Port of Esperance with the expansion planned for completion in 2016. 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.

At Johnston Range, drilling to date has only tested the more obvious targets 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 “Maiden Hematite JORC Resource for Muldoon Prospect” dated 8/05/12. Mapping and drilling has indicated potential for the resource to be increased.

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Quarterly Activities Report For the Three Months Ended 31 December 2014

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Figure 8: Yilgarn Prospect Location

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A major magnetite ore body was defined at Die Hardy Range (see Figure 5) The JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade stands at 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 ASX announcement “Maiden 353Mt Magnetite JORC Resource for Die Hardy” on 08/05/2012 and in the December Quarterly report to the ASX on January 31, 2012.

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.

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.

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For the Three Months Ended 31 December 2014

Quarterly Activities Report

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A scoping study 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.

Elsewhere on the tenement holding, significant potential remains for further discoveries of DSO mineralisation. Once funding is secured further assessment will be planned.

CORPORATE

Radar’s main focus during the quarter was aimed at securing funding to complete the Yerecoin acquisition and provide working capital. Under the agreement with the vendors of the Yerecoin Project, Radar owes $2.88M with the final payment due on April 2015.

Following negotiations in the previous quarter an agreement with Victory Mining Pty Ltd (“Victory”) a private Australian investment company was reached for a two stage funding programme aimed at raising $5.5M. Approval for the investment was obtained from Shareholders in meetings in October and November.

In Stage 1, Radar issued 26.1m shares to Victory in November at a price of 3.5 cents a share to raise $0.91M. As a result, Victory now holds approximately 19.7% of Radar’s expanded issued capital.

For Stage 2 Radar initiated a fully underwritten rights issue to raise a further $4.6M at a price of 3.5 cents per share closing, after extension, on 17th December 2014. Details of the rights issue were contained in an ASX release on 22 September 2014 with further information provided in the Notice of Annual General Meeting released to ASX on 22 October 2014. The rights issue was fully underwritten by Victory and conditional upon (amongst other things) the Platts Daily Iron Ore 62% Fe, North China price assessment being at all times 90% or more than on the business day prior to the date of the Term Sheet (18 September 2014).

As a result of the index falling below this level, Victory terminated its underwriting obligation and subsequently Radar withdrew the rights issue and returned all application funds.

Radar and Victory have remained in discussions since the termination of the rights issue aimed at a finalising new investment agreement between the parties. The Company requested a voluntary suspension from the ASX pending further announcements on the status of these capital raising initiatives and have remained in suspensions through January.

Radar held its Annual General Meeting of Shareholders on November 19 with all resolutions being passed without amendment. A General Meeting of Shareholders was held on October 23 at which the first stage of the Victory investment was approved.

As part of an asset rationalisation programme Radar signed an option agreement with Padbury Mining Limited to sell its Johnston Range and Die Hardy Projects located in the Central Yilgarn. .

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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Radar still holds the iron rights over a substantial area of tenements in the Central Yilgarn area but the holding and operational costs are largely met by the tenement owners.

ANNOUNCEMENTS

The Company made the following announcements since the open of the quarter.

Date	Headline
16/10/2014	Company Presentation-October 2014
22/10/2014	Notice of Annual General Meeting/Proxy Form
23/10/2014	Results of Meeting
03/11/2014	Quarterly Cashflow & Activity Reports
03/11/2014	Placement Completed andRightsIssueTimelineFinalised
03/11/2014	Appendix 3B
04/11/2014	Changeinsubstantial holdingfrom POK
07/11/2014	Becominga substantial holder
19/11/2014	Results of AnnualGeneral Meeting
19/11/2014	Change in substantial holding
20/11/2014	Status of Underwriting Of Rights Issue and Timetable
21/11/2014	RightsIssueProspectus
21/11/2014	Appendix 3B
21/11/2014	Letterto Shareholders
25/11/2014	Initial and Change of Director's Interest Notices
03/12/2014	Sale of Non-CoreAssets
08/12/2014	Extension of Rights Issue Closing Date
17/12/2014	Trading Halt
18/12/2014	RightsIssueWithdrawn
18/12/2014	Suspension from Official Quotation
29/12/2014	Company Update Regarding Suspension

For or on behalf of Radar Iron Ltd

Jonathan Lea

Managing Director

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.

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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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.

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:

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

2. “Brazilian Iron Ore Project – Update 2” on 15/01/2014

3. “Brazilian Update – Uruara Project Option Exercise” on 21/01/2014

4. “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.

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:

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

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

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.

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Quarterly Activities Report For the Three Months Ended 31 December 2014

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APPENDIX 1 – TENEMENTS HELD AT 31 DECEMBER 2014

Lease	Location	Interest at End ofQuarter
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
E70/2783	Northam WA	100
E70/2784	Northam WA	100
E70/3937	Northam WA	100
E70/3938	Northam WA	100
E70/3939	Northam WA	100
E70/3940	Northam WA	100
E70/2733	Yerecoin WA	100
E70/3990	Yerecoin WA	100
E70/4388	Yerecoin WA	100
E70/4391	Yerecoin WA	100

APPENDIX 2 – DIAMOND DRILLING DETAILS – URUARA PROJECT

Hole No.	Easting	Northing	Elevation	Azimuth	Dip	Length m
UCD-001 UCD-002 UCD-003 UJD-004 UJD-005 UJD-006 ULD-007 ULD-008	227102 227115 227094 224475 224438 224500 223773 223754	9603057 9603097 9603225 9604730 9604718 9604750 9603331 9603358	161m 169m 174m 113m 115m 114m 95m 97m	180 180 300 180 180 180 180 180	-70 -70 -70 -70 -70 -70 -70 -70	20.50 14.50 19.00 20.50 20.70 16.57 14.50 22.00
						148.27

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South American 1969 datum, Zone 22S

For the Three Months Ended 31 December 2014

Quarterly Activities Report

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APPENDIX 3 – JORC TABLE 1 - URUARA DRILLING

Section 1 Sampling Techniques and Data

Criteria
Commentary
Sampling
techniques

Rock chip sampling was undertaken as part of reconnaissance
mapping and prospecting.

Rock Chip samples were taken when visible mineralization was
observed and are whole rock samples of isolated outcrop generally
up to 1kg in weight.

Rock Chip samples were generally selected as being likely to be of
high grade.

Rock Chip sampling was not undertaken on a regular grid and was
not intended to be representative of the subsurface.

Drilling samples taken via 1/2 of NQ core. Industry standard drilling
techniques used.

Core was logged by qualified geologists familiar with the project and
deposit type. All core was photographed.

Samples were then submitted to Acme laboratories in Belo
Horizonte for sample preparation and analysis by Standard XRF
techniques.

Halved core to be crushed, ground and split and subsampled for
analysis under laboratory conditions. As an independent measure
for quality control, commercial standards are included with the
samples submitted together with regular duplicates and replicates.

Channel Samples were taken from three historical trenches.

Channels were cut into the side of existing trenches, approximately
30cm wide. Mixed sample of rock and soil was taken approximately
every 20cm vertically, for a total weight of 5-10kg per sample.
Drilling
techniques

Diamond core samples – NQ size.

Core was laid out in approximately 1m run lengths using a core
barrel with wire-line recovery method.
Drill sample
recovery

All core was metre marked and oriented by field staff under the
supervision of the site geologist, the core recovery was monitored
throughout.

If any issues arose with drill core or quality in general, discussions
were held with the drilling contractor to remedy the issues.

Core recoveries were generally acceptable, however were poor
(below 50%) in some in some instances when drilling through soil as
fine material was washed away. In such instances, assay is unlikely
to be representative of realgrade. However drillingis not intended

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Quarterly Activities Report

For the Three Months Ended 31 December 2014

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Criteria
Commentary
for resource estimation purposes.
Logging

A geologist familiar with the project logged samples on-site and
recorded the data manually to be entered into a digital database at
a later date.

All relevant items such as interval, lithology, structure, texture,
grain-size, alteration, oxidation, mineralisation, quartz percentage,
sulphide types and percentages were recorded in the geological logs.
Sub-
sampling
techniques
and sample
preparation

Whole rock samples were delivered to Acme Laboratories in Belo
Horizonte for preparation and analysis by XRF techniques.

Halved core to be crushed, ground, split and subsampled for
analysis under laboratory conditions which include introduction of
laboratory standards and repeats. As an independent measure for
quality control, commercial standards are included with the samples
submitted together with regular duplicates and replicates.

NQ size halved diamond drill core produced by core saw and hand
splitting. The core was halved at various lengths as determined by
the core.

Samples were then submitted to Acme Laboratories in Belo
Horizonte for industry standard sample preparation and analysis by
XRF techniques.

QA/QC samples (standard and repeats) were introduced at regular
intervals into the sample stream. QA/QC data will be assessed to
determine if any bias exists.

Channel Samples were delivered to Acme Laboratories in Belo
Horizonte for preparation and separation into three size fractions of
<1mm, 1-5mm, >5mm before assay with XRF techniques.
Quality of
assay data
and
laboratory
tests

Total assay techniques applied – standard XRF methods.

As an independent measure for quality control, commercial
standards are included with the samples submitted together with
regular duplicates and replicates.

QA/QC results will be assessed to determine if any bias exists.
Verification
of sampling
and
assaying

The validation of assay files against the certificates was carried out
on all samples.
Location of

All datapoints for samples and drill holes werepositioned with hand

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For the Three Months Ended 31 December 2014

Quarterly Activities Report

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Criteria	Commentary	Commentary
*data points*		held GPS, likely to be accurate to +/- 5m
*Data*		Drill hole and sample spacing was irregular and designed to test
*spacing*		specific outcrops. Drilling and sampling was not designed for use in
*and*		resource estimation.
*distribution*
*Orientation*		Drilling orientation varied to gain better understanding of geological
*of data in*		structure and was not designed to be used in resource estimation.
*relation to*
*geological*
*structure*
*Sample*		Samples were kept in the possession of company staff and delivered
*security*		in person to the laboratory.
*Audits or*		None Completed
*reviews*

Section 2 Reporting of Exploration Results

Criteria	Commentary	Commentary
*Mineral*		Tenement numbers are shown
*tenement and* *land tenure*		Tenure is by way of a farm-in JV. The company has not yet earned a permanent interest.
*status*
*Exploration*		Rudimentary prospecting and some trenching.
*done by other*
*parties*
*Geology*		Skarn related iron stone. Genetic model still being determined.
*Drill hole*		Published in tables
*Information*
*Data*		Not applied - raw data to be reported
*aggregation*
*methods*
*Relationship*		To be determined
*between*
*mineralisation*
*widths and*
*intercept*
*lengths*
*Diagrams*		As published in announcements

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Quarterly Activities Report For the Three Months Ended 31 December 2014

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Criteria	Commentary	Commentary
*Balanced*		All results reported but no inferences have been drawn.
*reporting*
*Other*		Ground magnetic data was collected over the prospects at 200m
*substantive*		line spacing and 10m station spacing. Data were used to assist in
*exploration*		positioning of drill holes.
*data*
*Further work*		Work programs will be developed as assay results are forthcoming.

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AI assistant

WEEBIT NANO LTD — Interim / Quarterly Report 2014

66042_rns_2015-01-27_76aa9dee-4eed-4e5b-b139-51ebdbe16e1a.pdf

ACN 146 455 576

ASX Release

28 January 2014

Contact

Damon Sweeny

Directors

Issued Capital

ASX Code

Quarterly Activities Report

Overview

YERECOIN PROJECT

Quarterly Activities Report

URUARA BRAZIL PROJECT

Project Update

Cacao Drilling

Limao and Jacare Drilling

Quarterly Activities Report

Summary and Recommendations

Project Background

YILGARN PROJECT

Quarterly Activities Report

Project Background

Quarterly Activities Report

CORPORATE

ANNOUNCEMENTS

For or on behalf of Radar Iron Ltd

Jonathan Lea

Managing Director

COMPETENT PERSON’S STATEMENT

Quarterly Activities Report

PREVIOUS REPORTED RESULTS

CAUTION REGARDING FORWARD LOOKING INFORMATION

Quarterly Activities Report

APPENDIX 3 – JORC TABLE 1 - URUARA DRILLING

Section 1 Sampling Techniques and Data

Quarterly Activities Report

Quarterly Activities Report

Section 2 Reporting of Exploration Results

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WEEBIT NANO LTD Interim / Quarterly Report 2014