WEEBIT NANO LTD — Interim / Quarterly Report 2013

Oct 29, 2012

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Quarterly Report

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Quarterly Activities Report For the three months ended 30 September 2012

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ACN 146 455 576

Highlights

• ∗ Resource definition and reconnaissance drilling continued at Johnson Range and at the Jackson Projects.

• ∗ New hematite targets identified in Johnston Range Project – best result 22m at 56.9% Fe.

• ∗ Further encouraging results for Muldoon project including:

• 32m @ 57.7% Fe  54m @ 59.1% Fe  42m @ 56.9% Fe  38m @ 59.2% Fe

ASX Release

30 October 2012

Suite 2, 12 Parliament Place West Perth WA 6005 PO BOX 902 West Perth WA 6872

P + 61 8 9482 0580 F + 61 8 9482 0505

E info@radariron.com.au W www.radariron.com.au

Contact

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

Phillip Wingate Company Secretary E pwingate@radariron.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

• ∗ A total of 75 RC drill holes completed for 4,274m.

• ∗ Ground geophysics and mapping continued, aimed at generating and prioritising hematite drill targets.

• ∗ Marketing study confirms potential saleability of Muldoon iron ore.

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its quarterly activities report for the quarter ended 30 September 2012. During the quarter Radar continued to focus on increasing its hematite resource inventory through drilling, geophysics and surface mapping.

In August, Radar completed a RC drill programme aimed at better defining the mineralisation at the Muldoon prospect and first pass testing of a number of prospects in the Johnston Range area. A total of 6,406m of RC drilling was completed with 2,414m of this being drilled in the June Quarter. The drilling was aimed at better defining the Muldoon resource. At least three significant new mineralised zones were identified that require further drill testing and a number of encouraging isolated intercepts provided further possible targets.

The drilling provided better definition of the existing Muldoon mineralisation, indicating a greater thickness to the south than previously recognised. Radar is encouraged that an increased resource may result once further geological modelling is undertaken. New zones of mineralisation were identified both surrounding Muldoon and also up to 6km to the north.

A 4 hole RC drilling programme (for 282m) was completed at the Jackson project aimed at characterising the BIF. Anomalous results were returned indicating hematite enrichment is present and further work is justified.

Radar continued metallurgical studies aimed at testing the potential for lower grade mineralisation to be beneficiated. Results are expected in the December Quarter.

RAD (Fully Paid Ordinary Shares)

Media Enquiries:

Fortbridge +612 9331 0655 Bill Kemmery 0400 122 449

All exploration data acquired in the past year is being assessed to determine the best targets for further drill testing, both at the Johnston Range project and other projects in the district. There are a substantial number of targets ready for drill testing that have potential to increase the resource inventory. Subject to the current review these targets will be prioritised and scheduled for drill testing.

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Quarterly Activities Report

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Figure 1: Project Location

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Figure 2: Prospect Location and Future Drilling Location

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Quarterly Activities Report

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Johnston Range

Multiple hematite targets (generated through a combination of geological mapping, aero-magnetic and gravity geophysical interpretation) have been previously identified in the Johnston Range and Evanston project areas. Zones of surface hematite enrichment up to approximately 800m in length have been defined by mapping. It is Radar’s intention to progressively test these zones with the aim of delineating sufficient resources to justify mining by the time the port of Esperance is expanded to provide capacity.

The prospects lie around the Horse Well Anticline that defines the 40km long belt of banded iron formation on the Johnston Range tenements (Figures 2 & 6) and also on adjoining banded iron formation (BIF) ridges in the Evanston project. The Johnston Range is comprised of multiple bands of BIF which represents 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.

Summary of exploration for September Quarter:

• Flora survey completed to enable further drill testing

• Drilling completed at new Johnston Range prospects and to infill the Muldoon resource – 71 holes for 3,992m of RC drilling completed during the quarter (total programme 117 holes for 6,404m)

• Ground magnetic surveying programme continued – 183line km completed

• Ground truthing and reconnaissance mapping ongoing

The ground magnetic coverage has enabled better targeting for the completed drill programme and information for future campaigns. The magnetic signatures help discern between potentially enriched haematic BIF and unaltered BIF.

The flora surveys completed were aimed at both gaining approval for future drill campaigns and also to establish baseline conditions to be used for future mining approvals.

Recent Drilling Results

A two month long RC drilling programme at the Johnston Range project was completed in early August and produced a number of positive results (Table 1) that require further testing. The results also reinforced the resource potential of the Muldoon Prospect. A total of 117 holes for 6,406m were drilled (Appendix 1).

The Muldoon results (Figure 3, Table 1) contained the best assay intervals received to date from the Muldoon prospect and indicated a greater mineralisation thickness to the south than previously recognised. This provides encouragement that an increased resource will result once geological modelling is again undertaken (current resource stands at 2.1Mt at 57.6% Fe and at lower cut-off grades the mineralisation inventory exceeds 3Mt at 56% Fe – as announced in ASX release dated 8/05/12).

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Quarterly Activities Report For the Three Months Ended 30 September 2012

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Figure 3: Muldoon Area with Selected Drill Intercepts

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As detailed in the June 2012 Quarterly Report, a new zone of mineralisation was identified 500m to the south-east of Muldoon (see Figure 3). Seven RC drill holes were completed in a new area containing at least three separate BIF units. Four of these holes returned significant mineralised intercepts – the best being 22m at 56.9% Fe. This BIF unit has been mapped as extending over 500m.

An earlier hole on this BIF – 300m north of the recent drilling returned a lower grade but still had anomalous assay results (hole RIRC092 – 12m at 50.5% Fe). Further drill testing is planned.

The Muldoon East prospect (Figure 3) also returned anomalous results, albeit patchy in nature. Potential exists to identify a number of discrete zones of mineralisation along the trend. Drilling is scheduled to commence after further interpretation. Other isolated intercepts provide encouragement that further drill testing will prove up potential DSO quality mineralisation.

Near the northern end of Muldoon (50m to the west, Figure 5) drilling at a 200m long BIF returned a best intercept of 12m at 55.1%Fe. Again, follow up drilling is warranted.

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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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North of Muldoon (Rowling and Shipley Prospects), an 8 kilometre extent of multiple BIF outcrop with numerous zones of anomalous hematite enrichment has been identified.

The largest new zone of potential mineralisation lies approximately 3km to the north of Muldoon and is a 700m long outcrop of BIF in which a single hole returned 14m at 54.4% Fe. Intercepts of 14m at 54.7%Fe and 6m at 55.4%Fe were received a further 3km north on a 200m long BIF outcrop (Figure 5). This area tends to have slightly steeper relief than other zones drill tested to date and only the more accessible targets have been tested to date.

New Tenement

E77/1961, within the Johnston Range Project area (Figure 6), was acquired recently by Radar. A total of 18 widely spaced RC drill holes were completed by a previous explorer. The best result was 10m at 58.6%Fe from 8m down hole.

The banded iron in the tenement exhibits substantial folding and faulting and hence lies in a structurally attractive zone for mineralisation. The tenement is perceived as having the potential for a similar mineralisation style to the Muldoon prospect and drill hole targeting will be undertaken in coming months.

Project Studies

It remains Radar’s objective to increase the current hematite resource base with a view to commencing mining by the time the Port of Esperance is expanded with the support of the Western Australian Government. Radar is participating in the current market sounding process driven by the Port with the aim of ultimately being allocated tonnage capacity in the expanded port. A number of studies are at various stages that will feed into the mine planning and approval processes including:

• A completed regional desk top water resource analysis.

• A spring flora and fauna survey over Johnston Range area along with commencing trapping of troglofauna.

• A transport option study – commissioned to identify options to access the rail.

• An ongoing metallurgical test work programme aimed at assessing the potential for lower grade mineralisation to be upgrade by standard processes. Stage 1 results are expected in coming months, and with a positive outcome could justify further drill testing and substantially increase the potential resource inventory.

• A preliminary iron ore marketing study was completed by independent consultancy Iron Ore Research Pty Ltd. The finding was that the new product is saleable at a discount to the benchmark price to smaller Chinese steel mills but studies should be carried out to test marketability to the larger steel mills including mature markets such as Japan. This finding provides further encouragement that the Muldoon Resource quality is suitable for export.

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Quarterly Activities Report

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Figure 4: Muldoon Prospect – Cross section

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Figure 5: New Prospects with Selected Drill Intercepts

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Quarterly Activities Report

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Figure 6: Johnston Range - New Tenement Location

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Future Work

Field mapping will continue in the December Quarter and coupled with a comprehensive review of the drilling and exploration data acquired in the past year will provide the basis for identifying and prioritising targets for drill testing in 2013. The metallurgical test work currently in progress will be a factor used for future drill planning - positive results that suggest material say above 45% Fe can be upgraded to DSO grade could change the focus of further work and potentially significantly increase the likely resource inventory.

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Quarterly Activities Report

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TABLE 1– Johnston Range RC Drilling Assay Results - 50% Fe Cut off

Prospect	Hole No.	From	To	Length	Fe %	SiO2 %	Al2O3 %	P %	S %	LOI
Clarke	RIRC177	6	10	4	52.0	9.3	2.80	0.03	0.07	10.28
		42	46	4	51.7	10.6	2.52	0.10	0.07	11.11
		50	54	4	50.6	12.3	3.00	0.06	0.02	10.28
Clarke	RIRC178	14	20	6	52.8	6.2	5.42	0.04	0.21	11.84
		26	30	4	54.2	6.1	1.98	0.04	0.17	11.91
Clarke	RIRC181	28	32	4	52.6	10.2	2.15	0.05	0.16	11.03
Clarke	RIRC186	18	32	14	51.9	8.7	6.19	0.04	0.07	10.21
Clarke	RIRC187	0	10	10	54.6	9.2	3.35	0.03	0.07	9.59
Muldoon	RIRC195	2	20	18	53.3	10.7	5.96	0.04	0.15	5.89
Muldoon	RIRC196	6	30	24	53.1	8.8	6.10	0.05	0.31	7.38
Muldoon	RIRC200	14	32	18	53.0	8.4	4.9	0.07	0.56	8.53
Muldoon	RIRC201	2	12	10	49.5	13.0	5.3	0.04	0.45	8.57
Muldoon	RIRC202	10	26	16	52.0	8.5	6.2	0.05	0.57	8.97
Muldoon	RIRC203	2	18	16	58.3	4.8	4.0	0.06	0.40	6.20
Muldoon	RIRC204	8	22	14	57.8	5.5	4.2	0.05	0.14	5.52
Muldoon	RIRC205	4	10	6	53.4	13.2	3.4	0.07	0.05	5.21
Muldoon	RIRC207	10	20	10	53.7	10.1	6.7	0.05	0.04	5.17
Muldoon	RIRC208	6	24	18	55.6	9.3	4.0	0.07	0.21	5.90
Muldoon	RIRC209	2	34	32	57.7	8.5	3.7	0.06	0.14	4.18
Muldoon	RIRC210	12	36	24	52.7	12.6	4.7	0.06	0.22	5.87
Muldoon	RIRC211	0	14	14	52.4	12.9	5.0	0.05	0.08	5.52
Muldoon	RIRC212	0	54	54	59.1	6.2	2.4	0.07	0.16	5.94
Muldoon	RIRC213	0	4	4	53.5	11.7	5.2	0.03	0.14	4.79
		10	20	10	54.2	10.5	5.7	0.05	0.09	5.07
Muldoon	RIRC214	30	50	20	58.9	4.7	3.2	0.07	0.10	6.58
Muldoon	RIRC215	2	44	42	56.9	7.2	4.5	0.06	0.06	5.82
Muldoon	RIRC216	8	14	6	57.3	5.8	5.1	0.04	0.04	5.92
Muldoon	RIRC218	14	40	26	53.6	9.0	6.0	0.07	0.10	6.46
Muldoon	RIRC219	4	18	14	53.9	9.2	5.9	0.04	0.02	6.05
Muldoon	RIRC220	2	18	16	55.4	7.3	6.1	0.04	0.14	6.10
Muldoon	RIRC221	28	36	8	53.7	9.6	5.9	0.08	0.03	5.83
Muldoon	RIRC222	6	34	28	55.0	5.6	6.3	0.05	0.12	7.12
Muldoon	RIRC223	6	16	10	50.4	9.6	7.6	0.05	0.77	7.64
Muldoon	RIRC224	12	48	36	55.9	10.6	2.9	0.05	0.06	5.03
Muldoon	RIRC225	6	20	14	53.7	7.4	5.9	0.06	0.58	6.93
Muldoon	RIRC226	0	36	36	55.0	9.5	4.9	0.05	0.23	5.05
Muldoon	RIRC227	6	44	38	59.2	5.4	4.3	0.06	0.14	4.37
Muldoon	RIRC228	6	22	16	54.7	7.3	5.8	0.04	0.48	6.40
Muldoon	RIRC229	4	20	16	55.7	8.7	4.1	0.05	0.20	6.05
Muldoon	RIRC230	0	20	20	56.8	7.1	2.9	0.04	0.23	5.70
Muldoon	RIRC233	8	14	6	52.8	4.9	6.8	0.03	1.49	9.38
		20	24	4	53.2	8.7	7.3	0.04	0.27	5.70
		28	34	6	55.1	7.4	4.6	0.06	0.13	7.38
Muldoon	RIRC234	4	14	10	51.5	11.0	6.8	0.05	0.34	6.78
Muldoon	RIRC235	10	32	22	53.7	9.8	6.4	0.05	0.04	5.47
Muldoon	RIRC237	6	18	12	56.5	4.9	4.6	0.06	0.67	7.24
Muldoon	RIRC240	0	26	26	56.4	6.9	5.2	0.06	0.11	5.66
Muldoon	RIRC241	8	16	8	53.1	11.1	4.1	0.07	0.14	6.73
Muldoon	RIRC244	2	26	24	52.4	10.7	5.8	0.05	0.40	6.54
Muldoon	RIRC245	6	28	22	56.9	9.7	3.2	0.04	0.09	4.48
Muldoon	RIRC247	18	32	14	53.5	10.6	6.1	0.04	0.04	5.25
Muldoon	RIRC248	6	14	8	56.7	8.6	4.3	0.04	0.03	4.97
Muldoon	RIRC251	16	20	4	54.1	10.0	5.6	0.02	0.07	5.19
Muldoon	RIRC253	0	10	10	51.8	12.5	4.8	0.01	0.28	7.00
		22	26	4	55.1	11.7	3.3	0.02	0.22	5.19
Muldoon	RIRC255	2	10	8	57.4	6.5	3.1	0.05	0.37	5.88
Muldoon	RIRC256	16	22	6	54.9	7.9	5.7	0.05	0.17	6.21
Muldoon	RIRC261	12	16	4	50.3	8.0	9.7	0.05	0.35	8.30

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Quarterly Activities Report

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Muldoon	RIRC262	4	16	12	54.0	9.0	4.8	0.03	0.05	6.96
Muldoon	RIRC266	0	34	34	56.8	8.1	3.1	0.06	0.37	5.98
Muldoon	RIRC268	30	38	8	54.6	8.3	5.7	0.08	0.03	6.79
Muldoon	RIRC269	36	46	10	52.3	12.7	5.9	0.02	0.11	5.88
Muldoon	RIRC270	4	22	18	55.2	10.9	4.4	0.03	0.08	4.76
Muldoon	RIRC271	0	8	8	52.2	16.7	2.2	0.02	0.03	5.89
		18	24	6	55.0	10.4	4.9	0.02	0.08	5.21
Muldoon	RIRC273	4	10	6	51.0	11.0	5.4	0.03	0.05	7.47
Muldoon	RIRC276	8	20	12	55.1	7.0	6.1	0.05	0.37	6.99
Muldoon	RIRC277	4	12	8	54.2	10.9	3.9	0.04	0.07	6.21
Melody	RIRC284	0	12	12	51.2	12.8	4.29	0.05	0.07	7.67
Melody	RIRC284	20	30	10	54.7	9.2	4.46	0.09	0.07	6.39
Rowling	RIRC288	28	32	4	54.8	9.2	5.13	0.06	0.03	5.46
Rowling	RIRC290	22	36	14	54.4	6.0	4.10	0.12	0.02	10.15
Shipley	RIRC293	16	30	14	54.7	6.9	3.49	0.05	0.02	9.30
Jackson	RIRC295	2	30	28	51.0	10.6	5.2	0.09	0.04	9.8

Notes:

Sampling and assay intervals – 2 metres Minimum interval width 4m

Assay intervals calculated using a 50% minimum iron grade

Maximum of 4m of internal dilution in assay intervals LOI is loss on ignition XRF assaying completed by Spectrolab, Geraldton

Die Hardy Range Project

With Radar’s current focus on defining hematite resources at the Johnston Range project, no active field work has been completed at the Die Hardy magnetite project in recent months.

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 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.

A desk-top ground water review was commissioned for the Die Hardy magnetite project. Results received in the June Quarter indicate there are sufficient aquifers in the region to provide water for a standard magnetite processing plant and a bore field is the most efficient option for water supply. Purification of the water is likely to be required to provide a potable water supply. Further work will involve drill testing of potential aquifers to better define flow rates and salinity.

Metallurgical test work commenced in the June Quarter on two weathered magnetite samples, overlying the primary magnetite mineralisation. This material is not included in the current resource estimate. The aim of the work is to establish a process for beneficiating this material into a saleable product. Results suggested that the weathered material could not be upgraded by magnetic separation but potential remains for floatation processes to be successful. Further studies are required.

The potential for a major body of magnetite mineralisation at the Die Hardy Range was indentified in 2010 through reconnaissance mapping and is approximately 3.4km long. 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

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Quarterly Activities Report For the Three Months Ended 30 September 2012

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resource estimation procedure and ore body characteristics were provided in Radar’s December Quarterly report reported to the ASX on January 31, 2012.

The deposit outcrops as a ridge of magnetite bearing banded iron formation (BIF). The BIF is partially demagnetised to a depth of 40-50m. The mineralisation dips steeply south and is exposed over a strike length of several kilometres. The 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.

Figure 7: Die Hardy Range Project Plan

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Quarterly Activities Report

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Figure 8: Die Hardy Range – Cross Section

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Regional Exploration

Regional geological reconnaissance and ground magnetic surveying continued on Radar tenements in the June Quarter. A number of areas have been identified as containing outcropping hematite mineralisation and magnetite potential is widespread. The focus for regional exploration remains to identify new hematite targets for potential drill testing in 2012. A total of 890 line km of ground magnetic coverage was completed during the quarter at the Johnson Range (183 km), and Jackson (483 km) and Windarling Peak (324 km) Projects

In late September, an RC drill programme comprised of four hole for 282m was completed at the Jackson project as a primary targeting exercise (Hole details in Appendix 1). The results (Table 1; Hole Number RIRC295) indicate hematite enrichment is present in the BIF with the best internal being 28m at 51.0% Fe (and a calcined iron grade of 57.4% Fe). While being sub DSO grade, this result provides encouragement that DSO grade material could be present in the project area and further exploration is being planned. Potentially geophysical targeting tools such as gravity techniques will be assessed as a method for identifying further drill targets. Other targets remain to be tested in the Jackson project area.

At other projects, approvals were submitted for additional drilling at Evanston and Windarling (along with Johnston Range). Substantial areas are now ready for drill testing pending definitive targeting based on the ongoing data review and ground magnetic interpretation.

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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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Figure 9: Jackson Drill hole location

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Corporate

Radar’s Annual Report was lodged on 30 September 2012. The Company has dispatched its Notice of Annual General Meeting, which is to be held at CWA House 1176 Hay Street West Perth WA 6005 at 9 am WST on Friday 23 November 2012.

Radar’s cash position at the end of the quarter was $2.4 million.

Announcements

The Company made the following announcements during the quarter.

Date	Headline
1/10/2012	Annual Report to shareholders
13/09/2012	CompanyPresentation
7/09/2012	Revised Appendix 3B
7/09/2012	Appendix 3B
6/09/2012	Competent Persons Statement-Exploration Update
5/09/2012	Exploration Update
31/07/2012	QuarterlyActivities and Cashflow Report
3/07/2012	Becoming a substantial holder

For or on behalf of Radar Iron Ltd

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Jonathan Lea Managing Director

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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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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 “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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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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APPENDIX 1 – RC Drilling Details

Hole_ID	Prospect	Easting	Northing	RL	Azimuth	Dip	Length
RIRC177 RIRC178 RIRC179 RIRC180 RIRC181 RIRC182 RIRC183 RIRC184 RIRC185 RIRC186 RIRC187 RIRC188 RIRC189 RIRC190 RIRC191 RIRC192 RIRC193 RIRC194 RIRC195 RIRC196 RIRC197 RIRC198 RIRC199 RIRC200 RIRC201 RIRC202 RIRC203 RIRC204 RIRC205 RIRC206 RIRC207 RIRC208 RIRC209 RIRC210 RIRC211 RIRC212 RIRC213 RIRC214 RIRC215 RIRC216 RIRC217 RIRC218 RIRC219 RIRC220 RIRC221 RIRC222 RIRC223 RIRC224 RIRC225 RIRC226 RIRC227 RIRC228 RIRC229	Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Clarke Shipley Shipley Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon	708410 708385 708353 708408 708455 708439 708454 708499 708469 708496 708539 708520 708542 708382 708351 708383 709227 709179 712996 712997 712998 712991 712989 713058 713064 713063 713027 713030 713101 713086 713104 713042 713027 713022 713137 713051 713114 713113 713072 713144 713142 713081 713072 713083 713161 713095 713171 713116 713214 713145 713187 713189 713220	6730191 6730177 6730166 6730199 6730166 6730093 6730102 6730023 6730005 6729921 6729901 6729897 6729903 6730293 6730285 6730297 6724024 6724006 6712753 6712755 6712948 6712850 6712849 6712706 6712707 6712711 6712650 6712651 6712599 6712591 6712596 6712562 6712455 6712454 6712492 6712362 6712389 6712274 6712262 6712196 6712196 6712165 6712160 6712163 6712078 6712043 6711978 6711953 6711885 6711852 6711771 6711774 6711791	508 508 501 501 501 509 510 510 508 508 513 511 513 509 508 507 514 512 515 515 517 509 509 511 511 511 513 515 518 520 521 523 526 526 526 530 530 524 524 518 519 521 523 499 501 526 526 529 521 523 526 526 526	260 260 260 80 260 80 260 260 260 80 260 260 80 260 260 80 90 100 70 70 250 250 250 70 70 70 250 250 70 250 250 250 70 70 250 70 70 70 70 70 70 70 70 250 70 70 70 70 70 70 250 250 70	-55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -55 -50 -50 -50 -50 -70 -50 -70 -50 -50 -70 -70 -70 -50 -55 -55 -55 -50 -70 -50 -60 -60 -60 -60 -60 -50 -70 -55 -70 -70 -50 -60 -50 -50 -50 -50 -70 -50 -50	72 60 34 60 102 42 66 60 30 80 66 66 66 84 54 54 66 36 48 48 72 48 42 42 12 60 40 30 36 36 48 46 54 60 36 60 36 60 54 36 48 66 48 42 60 48 36 48 42 48 60 42 42

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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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RIRC230 RIRC231 RIRC232 RIRC233 RIRC234 RIRC235 RIRC236 RIRC237 RIRC238 RIRC239 RIRC240 RIRC241 RIRC242 RIRC243 RIRC244 RIRC245 RIRC246 RIRC247 RIRC248 RIRC249 RIRC250 RIRC251 RIRC252 RIRC253 RIRC254 RIRC255 RIRC256 RIRC257 RIRC258 RIRC259 RIRC260 RIRC261 RIRC262 RIRC263 RIRC264 RIRC265 RIRC266 RIRC267 RIRC268 RIRC269 RIRC270 RIRC271 RIRC272 RIRC273 RIRC274 RIRC275 RIRC276 RIRC277 RIRC278 RIRC279 RIRC280 RIRC281 RIRC282 RIRC283 RIRC284 RIRC285	Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon East Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Muldoon Rowling Rowling Rowling Rowling Rowling Rowling Rowling Rowling	713199 713198 713221 713225 713174 713118 713217 713216 712969 712974 713176 713226 713190 713705 713923 713928 714032 714007 714082 713711 714056 714061 714122 714120 714169 714223 714222 714259 714255 714170 714313 714316 714372 714424 713187 713188 713022 712986 713193 714426 714665 713936 713231 713064 713030 713001 712851 712885 712626 712464 712501 712417 712537 712268 712021 712051	6711663 6711666 6711564 6711572 6711977 6711957 6711886 6711889 6712939 6712846 6711764 6711792 6711660 6711622 6711373 6711308 6711257 6711329 6711115 6711622 6712117 6712122 6712058 6712059 6712004 6711943 6711941 6711852 6711851 6712005 6711851 6711803 6711749 6711852 6711980 6712087 6712655 6712944 6712084 6711563 6710824 6712284 6711715 6712791 6712871 6712954 6712781 6712790 6713628 6713997 6714009 6714372 6714849 6715190 6715813 6715874	530 530 524 524 518 519 521 523 499 501 526 526 529 521 503 521 515 518 503 517 521 523 516 511 514 516 517 507 507 511 507 509 512 507 523 515 511 501 510 514 499 525 536 506 512 507 511 509 498 501 503 498 491 500 491 491	70 250 250 70 70 70 70 70 250 70 70 70 70 270 250 250 250 250 70 270 70 70 70 70 70 70 70 70 70 70 70 70 70 250 250 250 70 250 250 250 70 70 70 70 70 70 270 90 250 250 90 70 50 250 250 70	-60 -60 -60 -60 -70 -70 -70 -70 -70 -60 -60 -70 -50 -70 -70 -70 -70 -70 -70 -70 -70 -50 -70 -50 -70 -70 -50 -70 -50 -50 -50 -50 -70 -70 -70 -70 -70 -60 -50 -70 -70 -70 -50 -70 -50 -70 -55 -55 -70 -55 -70 -70 -70 -50 -70 -50	54 30 30 48 48 90 8 60 30 60 42 42 36 36 54 42 54 48 30 72 72 90 84 84 66 78 54 66 48 78 42 42 66 42 48 66 66 72 60 84 72 66 54 60 60 54 48 36 54 36 60 54 54 60 60 54

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Quarterly Activities Report

For the Three Months Ended 30 September 2012

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RIRC286 RIRC287 RIRC288 RIRC289 RIRC290 RIRC291 RIRC292 RIRC293 RIRC294 RIRC295 RIRC296	Rowling Rowling Rowling Rowling Rowling Rowling Rowling Rowling Jackson Jackson Jackson	711890 711874 711799 711738 711222 711167 711082 710769 708889 707813 707684	6713773 6713767 6713737 6714496 6715173 6715551 6716589 6717829 6658286 6659759 6659932	496 497 530 518 505 481 482 455 438 435 443	250 250 250 250 250 250 290 250 50 80 70	-60 -60 -70 -70 -50 -70 -70 -70 -60 -50 -60	90 78 72 64 84 48 84 50 54 72 84 72
RIRC297	Jackson	707558	6660245	447	70	-60

Coordinates : MGA94 Zone 50 Holes RIRC 177-222 drilled in June 2012 Quarter Holes RIRC 223-297 drilled in September 2012 Quarter

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Appendix 5B Mining exploration entity quarterly report

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

Radar Iron Limited

ABN 15 146 455 576	Quarter ended (“current quarter”)
15 146 455 576	30 September 2012

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other – Research & development tax offset Net Operating Cash Flows	Current quarter $A’000	Year to date (3 months) $A’000
	- (1,402) - - (265) - 8 - - 280	- (1,402) - - (265) - 8 - - 280
	(1,379)	(1,379)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) – Stamp duty on acquisition of prospects Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(20) - (57) - - - - - -	(20) - (57) - - - - - -
	(77)	(77)
	(1,456)	(1,456)

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(1,456)	(1,456)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other - Capital Raising Costs	- - - - - -	- - - - - -
Net financing cash flows	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(1,456) 3,904 -	(1,456) 3,904 -
	2,448	2,448

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		94
		Nil
1.25	Explanation necessaryfor an understandingof the transactions
	Amounts paid to directors includes salaries and wages for director services.

Non-cash financing and investing activities

2.1

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	-	-

Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	300
	-
	-
	150
Total	450

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	48	1,504
	2,400	2,400
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	2,448	3,904

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
	E77/1961	100% interest in Fe rights	-	100%

Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference+securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs,redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs	81,340,070	58,449,458
	75,000	-	Nil	Fully paid
7.5 +Convertible debt securities(description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) Total 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	20,375,000 2,375,000 300,000 23,050,000	- - -	Exercise price 25 cents 30 cents 45 cents	Exercise date 30/11/13 31/05/14 31/07/14
	-	-
	-	-
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

Appendix 5B Mining exploration entity quarterly report

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: (Director/ Company secretary )

Date: 30 October 2012

Print name: Phillip Wingate

Notes

1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Cash Flow Statements apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.