WEEBIT NANO LTD — Investor Presentation 2012

Jan 31, 2012

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January 2012 Update

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Well established junior
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	Capital Structure Free Trading Escrow Total Fully Paid Ordinary Shares (RAD) 48,346,517 22,815,612 71,162,129 M k t C (b d t di i f $0 30) $21M T 20% 51% Listed Options 24,626,704 24,626,704 Unlisted Options 1,050,000 22,000,000 23,050,000 ar e ap ase on ra ng pr ce o . - op own

Management: Alan Tough – Non Exec Chairman

Jonathan Lea – Managing Director Ananda Kathiravelu – Non Exec Director

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Continued strong demand
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Demand

• BRICs will contribute twice as much to global growth as Europe in the next decade

• Millions of people in the BRICs to enter middle class income bracket by 2020

• Urbanised population in developing countries to increase by >1B people in next 20 years

• Massive investment in trans p ort , buildin g, roads re q uired

• Growth to date patchy – many regions/provinces are only just starting

• GDP in China to remain at ~7% in next 5 years and grow substantially to 2030

Supply

• New production restricted by capital, resources and regulation (eg in Africa)

• Sea borne trade only grew 45% of the aspirational target in 2008-2010

• Delays in new development particularly in the third world (eg Africa)

• Average grades of DSO ores falling as high grade deposits exhausted

• Increasin demand for ualit b steel mills as mine ualit falls as new blast furnaces g q y y q y (

• require higher grades)

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Positive outlook for iron ore
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• Continued tightness in iron ore market in short and medium term

• W or ld St ee l A ssoc a i ti on orecas f ti 5 9% i i l b a cru l d e s ee t l ng . r se n g o

• demand in 2011 and 6% in 2012

• Supply demand equilibrium not until late in decade

• Strong demand and prices for hematite ores with mid 50% Fe grade

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200
180
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100
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60
40
20
0
5 Year Iron Ore Price Price
�4
metric ton
USc/dry
6 6 6 7 7 7 7 7 7 8 8 8 8 8 8 9 9 9 9 9 9 0 0 0 0 0 0 1 1 1
Jul‐0 Sep‐0 Nov‐0 Jan‐0 Mar‐0 May‐0 Jul‐0 Sep‐0 Nov‐0 Jan‐0 Mar‐0 May‐0 Jul‐0 Sep‐0 Nov‐0 Jan‐0 Mar‐0 May‐0 Jul‐0 Sep‐0 Nov‐0 Jan‐1 Mar‐1 May‐1 Jul‐1 Sep‐1 Nov‐1 Jan‐1 Mar‐1 May‐1
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Radar – Project Summary
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• Assets located in developing Yilgarn Iron Ore Province (YIOP) • Hematite & magnetite mineralisation otential p • Enhanced potential for rapid project development with ex st ng open access i i infrastructure • Hematite bein mined b g y others

• Large magnetite deposits d e fi ne d i n str ct an di i d b e ng i considered for development �5

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Corporate Strategy
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• F ocus on ema h tit e resource e d fi n iti on n i 2012

• Rapid exploration and resource definition of iron ore resources

• Develo rofitable minin o erations – p p g p

• both hematite and magnetite

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Infrastructure – Real Solutions
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• Open access rail line 90-130km to the south. Rail capacity

• upgradable to suit potential developments

• New developments nearby likely to create alternate haul road options to rail

• Potential port

o Cliffs Esperance – deep water berth , currently exporting 8mtpa iron ore, Government commits to expansion to up to 30mtpa capacity

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Massive Exploration Potential
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• 1 200 km[2] of tenements ,

• 120km BIF

• Largely unexplored for iron ore

• Onl 25% of tenements drilled y

• so far

• E xp orat on to ate g l i d hi hl y encouraging for both hematite and magnetite

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Johnston/Evanston Projects
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• Significant hematite and magnetite potential

• >50 linear km of banded iron formation

• Potential for numerous hematite deposits

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Johnston/Evanston Projects
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• 77 RC drill holes for 6003m completed in November 2011 aimed at first p ass testin g on hematite tar g ets

• Hematite intersected – best result 24m at 57.4% Fe

• Further drilling warranted aimed at defining resources

  • Ground magnetics to better define targets

  • Testing planned for coming months following approvals

• Significant magnetite mineralisation intersected by drilling

  • Exploration potential magnetite: 4.0Bt - 6.7Bt at 20-45% Fe*

  • Further work re uired q

• 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

• �10 exploration will result in the determination of a Mineral Resource.

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Recent RC Drilling
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Muldoon Prospects
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• Mapped in detail

• Multiple outcrops of hematite

• Strike lengths up to 500m, widths of calcined

• up to 20m , grades around 60% Fe

• Partially drilled to date

• Infill drilling required for resource definition

• Approvals for drilling pending

• Other prospect areas have similar potential

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potential
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M agne tit e r D illi ng esu R lt s – J o h ns on an t R ge

�13	Prospect	Hole No.	From	To	Interval	Intercepts ‐ Average Grade	Intercepts ‐ Average Grade	Intercepts ‐ Average Grade	Intercepts ‐ Average Grade	Intercepts ‐ Average Grade
						Fe %	SiO2 %	Al2O3 %	P %	LOI
	Evanston	RIRC075	12	20	8	59.1	6.6	3.4	0.05	5.8
	Evanston	RIRC076	24	30	6	61.7	5.5	2.5	0.08	3.9
	Olger	RIRC080	26	34	8	57.1	8.0	3.4	0.07	6.8
	Muldoon	RIRC091	30	38	8	57.8	7.4	5.2	0.08	4.4
	Muldoon	RIRC092	8	20	12	50.5	13.6	6.9	0.06	6.6
	Muldoon	RIRC093	6	16	10	55.5	7.2	6.1	0.06	6.9
	Muldoon	RIRC094	14	20	6	57.5	7.8	4.5	0.02	6.0
	Muldoon	RIRC095 including	16 16	34 26	18 10	56.0 59.2	7.1 4.6	5.3 3.3	0.07 0.08	7.4 7.2
	Muldoon	RIRC096	38	48	10	54.7	10.2	5.5	0.02	6.4
	Muldoon	RIRC098	12	18	6	53.9	10.8	6.3	0.07	4.9
	Muldoon	RIRC099	8	32	24	57.4	7.8	4.8	0.07	4.8
	Muldoon	RIRC100	6	18	12	53.5	9.0	7.2	0.04	6.9
	Muldoon	RIRC102	0	6	6	53 8 .	7 2 .	6 1 .	0 03 .	8 5 .
	Muldoon	RIRC104	4	16	12	53.4	11.9	5.2	0.06	6.3
	Rowling	RIRC105	4	16	12	52.5	13.7	4.0	0.04	6.6
	Rowling	RIRC108	34	40	6	53.5	10.5	5.8	0.05	6.7
	Lange	RIRC115	4	26	22	48.3	16.3	5.8	0.08	8.5
	Shipley	RIRC123	28	38	10	49.0	20.0	2.2	0.06	8.5
	Rowling	RIRC126	26	34	8	56.4	10.7	3.9	0.07	5.3
	Olger	RIRC140	0	6	6	53.4	7.5	4.7	0.03	10.3

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Die Hardy Range – Magnetite
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• Magnetite Resource 352Mt at 26.1% Fe

• Potential for substantial increase

• Hematite otential also bein investi ated p g g

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• A high grade massive body with good metallurgical properties

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Die Hardy Range
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• Magnetite ~100-300m wide, >3km long and at least 350m in depth

• Exploration potential: 0.83 Bt – 1.38 Bt at 25-35% Fe *

• 2km strike to date

• • Excellent metallurgical properties

• PFS in 2012

• 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.

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Radar in 2012
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• Focus on defining hematite resource base

• Resource drilling at Johnston Range planned for March (as approvals permit)

• Regional targeting through mapping and geophysics ongoing

• Several focused drill campaigns likely in next 6months

• Pr e -f eas i b ilit y s t udy f o r Di e H a r dy m ag n e tit e co mm e n c in g with major aspects such as infrastructure and water

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Disclaimer
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This Presentation is issued by Radar Iron Ltd (“Radar” or “the Company”). The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this disclaimer. The document, in whole or in part, is not to be distributed, copied or reproduced, in any form, without the prior written consent of the Directors of the Company.

The document does not purport to cover all relevant information about the Company or its business. It does not intend to be a complete or accurate statement of material information.

Although the Company has used care and diligence in its preparation, this Presentation is provided on the basis that no representation or warranty, expressed or implied, is made by the Company or any of its associates or advisers as to the accuracy or completeness of the information.

None of the information contained in this Presentation or any other written or oral communication transmitted or made available to the recipient or any of its associates or advisers is, or shall be relied upon as, a promise or representation, whether as to the past or future, and no liability will attach to such information to the Company, its associates or advisers.

The Company and its directors, employees, agents and consultants shall have no liability including to any person by reason of negligence or negligent misstatement for statements, opinions, information or matters (express or implied) arising out of contained in or derived from or for any omissions from this Presentation, except where liability under statute cannot be excluded.

The information in this presentation that relates to iron ore exploration results, mineral resources or ore reserves is based on information prepared by Mr Jonathan Lea, who is an employee of the Company and a member of the Australasian Institute of Mining and Metallurgy. Mr Lea has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as d e fi ne d i n th e 2004 Editi on o f th e “A us ra as an t l i C o d e f or R epor ti ng o f E xp ora l ti on R esu lt s, Mi nera l R esources an d O re R eserves. ” M r L ea consen s t t o th e i nc us on l i in this ASX Release of the matters based on his information in the form and context in which it appears in the Presentation.

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 Mineral Resource 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.

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. �17

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January 2012 www.radariron.com.au

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