WEEBIT NANO LTD — Investor Presentation 2014

Feb 19, 2014

Brazilian Iron Ore Project - Update 5

 Exploration commenced

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ACN 146 455 576

ASX Release

20 February 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 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 7,675,000 Unlisted Options

ASX Code:

RAD (Fully Paid Ordinary Shares)

 Ground magnetic survey to commence

Radar is pleased to provide shareholders with an update of the exploration programme at the Uruara Iron Ore project in northern Para State, Brazil. Radar has commenced a farm-in to earn 50% of the project.

The initial focus for exploration has been in those areas in which mineralisation has already been defined (see Figures 2 and 3).

Following the establishment of a base in the nearby town of Uruara, close spaced mapping and sampling is now underway on 100-200m spaced traverses across the three previously defined trends.

Track clearing in areas covered by forest is underway and mapping in these new areas is expected to reveal extensions to the known mineralisation trends. The new mapping to date has supported the current interpretation of zones of mineralisation of 150-400m wide and several kilometres in length. Approximately 40 rock chip samples should be dispatched shortly - with results expected 2-3 weeks after submission. Despite operating in the wet season, no major access issues have been encountered as yet.

Final preparation is underway for a ground magnetic survey that will cover the existing mineralisation trends to better define them when undercover in the grassed open farm land and nearby cacao plantations (See Figure 3).

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The exploration plan is aimed at a rapid transition from appraisal to in-ground testing so that a resource base can be established in 2014.

Using the mapping and geophysics data being collected, the aim is to define first pass drill targets for testing in the second quarter of 2014.

Further announcements will be made in coming weeks to update shareholders on exploration progress.

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Brazil Update 5

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Figure 2. Lease Package
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Figure 3. Work in Progress – Southern part of Lease 850.245

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Cacao Prospect
Note
Green lines are first priority for ground magnetics
- with focus on Cacao Prospect
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Brazil Update 5

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Figure 4. Current Rock Chip Sample Results – Southern Part of EL 850.245

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For and on behalf of Radar Iron Ltd

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Jonathan Lea Managing Director

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Brazil Update 5

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Background Information

The Uruara Project covers about 68,000Ha of tenements with excellent exploration potential for iron ore. Initial reconnaissance mapping and rock chip sampling have indicated the presence of substantial surface occurrences of high grade hematite and magnetite mineralisation. Trenching up to 4m deep indicates the mineralisation continues at least to that depth. Rock chip assay values are commonly above 60% Fe with low levels of contaminants.

The Project lies adjacent to the Amazon River with potential for iron ore shipment from a number of accessible ports where Panamax (60,000t) size vessels can be loaded.

• The Uruara Project is located in Para State, Brazil, approximately 600km inland and approximately 7km from the major Trans Amazonian Highway with ready access to the Amazon River at several locations.

• The project comprises 1 exploration license of approximately 10,000Ha hectares with a binding right to acquire 6 adjacent applications of 58,000Ha.

• The project area is covered by a combination of heavily grassed open farm land and forest with sparse outcrop – drilling approvals are routine in this area.

• Mapping surface sampling and trenching has been undertaken to date only on one of the seven licenses. No drilling or regional aeromagnetic data exists. The trenching suggests the mineralisation continues to at least 4m below surface.

• Outcrops of massive high grade hematite and magnetite mineralisation have been identified which when joined together can be interpreted as forming continuous mineralised corridors.

• Three main corridors have been identified to date forming zones 150-400m in width and up to several kilometres in length. The mineralisation commences at surface, extends to at least 4m depth.

• Local prospectors have indicated that these zones continue eastward into the forest beyond the eastern margin of the EL, however as previously cut tracks had grown over, this could not be verified. More mapping is required to track the zones under forest cover and on the other tenements.

• The weathering profile is thin, generally less than 1m, with limonite and detrital magnetite and iron grades appear to remain high. The fresh rock shows grades from 59% to over 65% Fe.

• The ready identification of large areas of high grade massive iron ore at surface in a virgin area is considered highly encouraging and the potential to further extend the mineralised area is considered excellent.

• Amazon Basin geological terrain – likely recrystallised and enriched sediments.

• 24 surface sampling assay results suggest high grade mineralisation grading above 60% Fe with low levels of impurities.

• Using surface sampling and mapping data an exploration target for the high grade mineralisation is 20Mt-40Mt at 58-65% Fe has been estimated. 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.

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Brazil Update 5

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• Should mining be possible, the proposed production route would involve onsite crushing and screening prior to the ore being trucked to a deep water river port for direct loading to Panamax (60,000t) vessels or via barge.

• The Trans Amazonian Highway leads to the ports of Vitoria du Xingu and Santarem. Panamax size ships (~60,000t) 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.

• High grade lump ores have a market in Brazil as well as internationally and can command a premium price on the world market.

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 RESULTS

There is information in this announcement relating to surface sampling assays completed in two sampling programmes in 2013. 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

An Exploration Target was established previously for the mineralisation on the leases 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:

1. “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.

As specified in the previous ASX release, the Exploration Target was based on surface mapping and interpretation along with widely spaced surface sampling results. Further work as outlined will include additional mapping and sampling, magnetic surveys and drill testing to validate the Exploration Target. This work should be completed in the first half of 2014.

The tonnage was estimated by assuming mineralised corridors averaging 200m wide to a depth of 5m with a length of 10km covered by the 3 corridors of mineralisation identified to date. A bulk density of 3.5 was applied to estimate tonnage. The range of tonnage was rounded off to 20-40Mt to indicate the uncertainty in this estimate. The grade was estimated using the average of the 16 ore grade assays results from the 24 samples taken that indicate ore grades will be approximately 62%Fe. The range was applied using practical knowledge of common maximum mined grades for iron ore deposits and a likely lower economic grade for extraction. The final grade will depend ultimately on the results obtained through drill testing and the economic cut off grade applied to any resource estimation.

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.

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