WEEBIT NANO LTD — Interim / Quarterly Report 2012

Jul 30, 2012

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Quarterly Report

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Quarterly Activities Report For the three months ended 30 June 2012

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ACN 146 455 576

Highlights

• ∗ Maiden Hematite resource for Muldoon prospect.

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

• ∗ A total of 46 RC drill holes completed for 2,414m.

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

ASX Release

31 July 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

81,265,070 Ordinary Shares 23,050,000 Unlisted Options

ASX Code

RAD (Fully Paid Ordinary Shares)

• ∗ Muldoon – further drill results included:

• 32m @ 57.7% Fe � 54m @ 59.1% Fe � 20m @ 58.9% Fe � 42m @ 56.9% Fe � 36m @ 55.9% Fe � 38m @ 59.2% Fe � 26m @ 56.4% Fe � 22m @ 56.9% Fe

• ∗ New zone of potential mineralisation identified 500m to east of Muldoon – best result 22m at 56.9% Fe.

• ∗ Placement to strategic investor made at premium raises $3.3m.

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its quarterly activities report for the quarter ended 30 June 2012. During the quarter, Radar continued to focus on increasing its hematite resource inventory through drilling, geophysics and surface mapping. Radar also announced the completion of a placement of 10 million new shares to a strategic Chinese investor to raise $3.3 million before costs to provide sufficient working capital to pursue additional hematite resources at the Company’s Central Yilgarn project.

Radar announced a maiden hematite resource for the Muldoon prospect in the Johnston Range project area during the quarter - a JORC reportable Inferred Mineral Resource of 2.1 million tonnes at 57.6% Fe. Radar’s expectation is that further drilling will define additional mineralisation and is aiming at identifying 8-10Mt of resource in 2012 and move to project development in 2013. Given the proximity to infrastructure and planned development of the Esperance Port – a hematite iron ore export operation is considered possible in the medium term.

In June, Radar commenced a RC drill programme aimed at better defining the mineralisation at the Muldoon prospect and also to test other anomalous zones in the Johnston Range area. A total of 2,414m of RC drilling was completed returning further encouraging results that could increase the resource inventory to the south and in a new zone to the east of Muldoon. Other areas were tested that require further evaluation or metallurgical test work to establish their economic potential.

Media Enquiries:

Fortbridge +612 9331 0655 Bill Kemmery 0400 122 449

Radar also commenced a metallurgical study aimed at testing the potential for lower grade mineralisation to be beneficiated, with results expected in the September Quarter.

As announced during the quarter Radar intends to rapidly progress resource definition and the subsequent mining approval process in coming months with the aim of commencing mining of hematite mineralisation by the time the proposed Esperance Port expansion is completed.

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Quarterly Activities Report For the Three Months Ended 30 June 2012

Figure 1: Project Area

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Figure 2: Project Location

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

Johnston Range – Evanston Projects

Summary of exploration for June Quarter:

• Maiden Resource estimate for Muldoon Prospect

• 2 flora surveys completed to enable further drill testing

• Drilling commenced at new Johnston Range prospects and to infill the Muldoon resource – 46 holes for 2,414m of RC drilling completed

• Test ground electro-magnetic (EM) surveying programme completed

• Ground truthing and reconnaissance mapping

Multiple hematite targets (generated through a combination of geological mapping and 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 during 2012 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 (Figure 3) 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.

Figure 3 Johnston Range Project with Completed Drilling

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

RC drilling programmes completed in the last 6 months at the Muldoon prospect provided sufficient data to enable a maiden resource estimate to be undertaken in May. Modelling and mineral resource estimation by consultant firm CSA Global Pty Ltd (CSA) resulted in a JORC reportable Inferred Mineral Resource at a 55% Fe cut-off grade of 2.1 million tonnes at 57.6% Fe. At lower cut-off grades the mineralisation inventory exceeds 3Mt at 56% Fe.

Table 1 below provides estimates of tonnages and grades at different cut off levels.

TABLE 1: Muldoon Prospect - Grade-Tonnage Table for Various Cut off Grades

Cut_off	Tonnes Mt	Fe %	SiO2 %	Al2O3 %	P %	LOI %
60	0.27	61.0	5.2	3.0	0.06	4.6
57.5	0.94	59.3	6.6	3.6	0.06	5.1
55	2.07	57.6	7.8	4.2	0.06	5.6
52.5	2.88	56.6	8.6	4.6	0.06	5.8
50	3.11	56.2	9.0	4.7	0.06	5.9
45	3.18	56.0	9.2	4.7	0.06	5.9

The mineralisation outcrops as low ridges of hematite and goethite enriched banded iron formation (BIF). Mineralisation results from enrichment of the BIF and typically reaches a depth from surface of 30-40m before grading back into siliceous un-weathered BIF. The two sub-parallel zones of mineralisation making up the resource are approximately 60m apart, 10-30m wide and dip sub-vertically. The larger zone of surface hematite enrichment as defined by mapping is approximately 800m in length. The mineralisation is surrounded by deeply weathered mafic and ultra-mafic rocks covered by soils.

Figure 4: Muldoon Location Plan

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

The resource estimation was completed using 54 RC drill holes mostly drilled between November 2011 and March 2012. The RC holes were drilled at nominal 100m line spacing with at least two holes per section. Assaying was completed on two metre intervals. QAQC protocols for sampling were employed as per industry standards.

Radar personnel assessed the QAQC data and validated the drilling data base and found no significant issues. An earlier assessment of the standard QAQC protocols employed by Radar had been undertaken by CSA Global provided confirmation that the QAQC protocols employed were appropriate.

CSA Global employed Micromine software to assess the data and model the resource. Ordinary Kriging was used for grade interpolation within a mineralised envelope based on geological logging and assaying results. Tonnage estimations assumed densities of 2.8 tonnes per cubic metre. The resource classification was assigned based on modelling statistics, density of drilling and surface continuity based on both outcrop and aero-magnetic surveys. The Mineral Resource estimate is reported in accordance with the 2004 JORC Code.

At a 45% Fe cut-off mineralisation is in excess of 3Mt at 56% Fe. While material of this grade is still potentially marketable it might be possible to add value by upgrading the resource. A metallurgical study has been commissioned to determine whether this mineralisation can be upgraded by relatively simple and low cost processes. Results for this are expected in the September quarter.

As the mineralisation lies on or at surface, extraction through shallow open pit mining is considered conceptually possible. A relatively low cost contract mining and crushing operation is envisaged, possibly where a period of campaign mining is followed by crushing to minimise the need for extensive site infrastructure. Road transport to the public access rail, 130km to the south, with export through the Port of Esperance remains the most likely path for transport. Further exploration work to establish additional resources and reserves is required to establish any case for mining operations. Discussions have commenced with various potential infrastructure providers with regard to road, rail and port access. These will progress during 2012.

The ASX release dated May 8, 2012 titled “Muldoon Maiden Resource’ contains further details of the process and mineralisation characteristics.

In June, Radar commenced a RC drill programme aimed at better defining the mineralisation at the Muldoon prospect and also to test other anomalous zones in the Johnston Range area. 46 RC drill holes for 2,414m was completed regionally in June at the Muldoon prospect and other targets.

The Muldoon results (Figures 5 and 6) contained the best assay intervals received to date from the Muldoon prospect and with the indication of 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. 28 RC holes for 1,316m were completed in June at the Muldoon prospect.

The Clark prospect was identified earlier in 2012 (Figure 7) and drill testing was completed in June. 16 RC drill holes for 966m were completed over a strike length of 500 m. Despite the encouraging surface sample results (averaging 59.5% Fe) no significant assay intervals were returned although enriched BIF ranged up to 50 m in down hole length. The prospect represents an area of partial enrichment of the BIF with significant intervals in the 45-50% Fe range. There is still potential for beneficiation of this material through standard processes and given its substantial size, the benefit of undertaking metallurgical test work to facilitate enrichment to an economic iron grade will be reviewed.

North of Muldoon, an 8 kilometre extent of multiple BIF outcrop with numerous zones of anomalous hematite enrichment has been identified. This area tends to have slightly steeper relief than other zones drill tested to date. Approvals have been received for earthworks, to allow drill pads to be established and drilling is planned for the following quarter. Similarly on the eastern limb of the Johnston Range syncline and on the Evanston tenements, a number of targets have been identified. Drilling is planned at these in the September quarter following regulatory approvals. Two RC holes were completed in this zone for 102m (at the easily accessible Shipley prospect) during the quarter with no significant assays returned.

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Quarterly Activities Report For the Three Months Ended 30 June 2012

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Figure 5 RC Drill Results – Muldoon
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Quarterly Activities Report For the Three Months Ended 30 June 2012

Seven RC drill holes were completed early in July at 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 located, 500m to the east of Muldoon (see Figure 5). This BIF unit has been mapped as extending over 500m. An earlier hole on this BIF – 300m north of the recent drilling returned lower grade but still anomalous assay results (hole RIRC092 – 12m at 50.5% Fe). These results are considered encouraging as they possibly represent a new trend of significant mineralisation outside the current Muldoon resource. Further drill testing will be undertaken in the September quarter. Other drill holes in the area intercepted separate BIF units with assay intervals of 14m at 53.5% Fe (RIRC247) and 8m at 56.7m (RIRC248). These BIF units require further testing.

At the end of June a drill programme was ongoing to test for extensions to Muldoon. Results received to date are shown in Table 2.

Figure 6: Muldoon Prospect –Cross section Figure 7: Clark Prospect Location – Johnston Range

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A test electro-magnetic ground survey programme was completed in the quarter – 61 line km of data was recorded from 5793 stations in the Johnston Range and Evanston areas. The aim was to identify whether this technique could be used to better define surface hematite anomalies for potential size and depth in order to assist in the prioritising drill targets. The results were inconclusive and the technique found to be slow in recording data. As a consequence ground magnetics surveys will be used in future to assist in prioritising drill targets.

Plans for the coming quarter include:

• completion of the current drill programme (late July)

• gaining drilling approval for new zones to be tested (both Johnston Range and Evanston) – drilling is anticipated in August/September

• Ground magnetic coverage

• Resource re-estimation for Muldoon, based on new drilling data

• Initial resource estimation for any new zones of mineralisation

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

TABLE 2 –RC Drilling Assay Results - 50% Fe Cut off

Prospect	Hole No.	From	To	Length	Fe %	Ca Fe %	SiO2 %	Al2O3 %	P %	LOI
Clarke	RIRC177	42	54	12	48.5	53.9	15.5	3.19	0.07	10.1
Clarke	RIRC186	12	32	20	51.1	57.2	8.4	6.52	0.03	10.7
Clarke	RIRC187	0	10	10	54.6	60.4	9.2	3.35	0.03	9.6
Muldoon	RIRC195	2	20	18	53.3	56.6	10.7	5.96	0.04	5.9
Muldoon	RIRC196	6	30	24	53.1	57.3	8.8	6.10	0.05	7.4
Muldoon	RIRC200	14	32	18	53.0	58.0	8.4	4.91	0.07	8.5
Muldoon	RIRC201	2	12	10	49.5	54.1	13.0	5.28	0.04	8.6
Muldoon	RIRC202	10	26	16	52.0	57.1	8.5	6.21	0.05	9.0
Muldoon	RIRC203	2	18	16	58.3	62.1	4.8	4.02	0.06	6.2
Muldoon	RIRC204	8	22	14	57.8	61.2	5.5	4.24	0.05	5.5
Muldoon	RIRC207	10	20	10	53.7	56.6	10.1	6.66	0.05	5.2
Muldoon	RIRC208	6	24	18	55.6	59.1	9.3	4.03	0.07	5.9
Muldoon	RIRC209	2	34	32	57.7	60.3	8.5	3.66	0.06	4.2
Muldoon	RIRC210	12	36	24	52.7	55.9	12.6	4.68	0.06	5.9
Muldoon	RIRC211	0	14	14	52.4	55.5	12.9	5.04	0.05	5.5
Muldoon	RIRC212	0	54	54	59.1	62.8	6.2	2.36	0.07	5.9
Muldoon	RIRC213	10	20	10	54.2	57.1	10.5	5.68	0.05	5.1
Muldoon	RIRC214	30	50	20	58.9	63.0	4.7	3.16	0.07	6.6
Muldoon	RIRC215	2	44	42	56.9	60.4	7.2	4.53	0.06	5.8
Muldoon	RIRC218	14	40	26	53.6	57.3	9.0	5.99	0.07	6.5
Muldoon	RIRC219	4	18	14	53.9	57.3	9.2	5.95	0.04	6.1
Muldoon	RIRC220	2	18	16	55.4	59.0	7.3	6.11	0.04	6.1
Muldoon	RIRC222	6	34	28	55.0	59.2	5.6	6.26	0.05	7.1
Muldoon	RIRC223	6	16	10	50.4	54.5	9.6	7.55	0.05	7.6
Muldoon	RIRC224	12	48	36	55.9	58.8	10.6	2.90	0.05	5.0
Muldoon	RIRC225	6	20	14	53.7	57.7	7.4	5.93	0.06	6.9
Muldoon	RIRC226	0	36	36	55.0	57.9	9.5	4.94	0.05	5.0
Muldoon	RIRC227	6	44	38	59.2	61.9	5.4	4.27	0.06	4.4
Muldoon	RIRC228	6	22	16	54.7	58.4	7.3	5.79	0.04	6.4
Muldoon	RIRC229	4	20	16	55.7	59.3	8.7	4.09	0.05	6.1
Muldoon	RIRC230	0	20	20	56.8	60.3	7.1	2.95	0.04	5.7
Muldoon	RIRC233	20	34	14	50.0	54.0	10.9	8.30	0.05	7.3
Muldoon	RIRC234	4	14	10	51.5	55.2	11.0	6.77	0.05	6.8
Muldoon	RIRC235	10	32	22	53.7	56.8	9.8	6.40	0.05	5.5
Muldoon	RIRC237	6	18	12	56.5	60.9	4.9	4.64	0.06	7.2
Muldoon	RIRC240	0	26	26	56.4	59.8	6.9	5.24	0.06	5.7
Muldoon East	RIRC244	2	26	24	52.4	56.1	10.7	5.76	0.05	6.5
Muldoon East	RIRC245	6	28	22	56.9	59.6	9.7	3.20	0.04	4.5
Muldoon East	RIRC247	18	32	14	53.5	56.5	10.6	6.13	0.04	5.3

Notes:

Sampling and assay intervals – 2 metres Minimum interval width 10m Assay intervals calculated using a 50% minimum iron grade Maximum of 4m of internal dilution

LOI is loss on ignition XRF assaying completed by Spectrolab, Geraldton Ca Fe is calcined iron grade

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

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 are expected in the September quarter.

An aboriginal mythological site application formerly covered the western part of the Die Hardy magnetite mineralisation. Following a successful Section 18 application process during the quarter by Radar, this site was removed from the register. As a consequence, drilling of this part of the potential resource now only requires the normal governmental approvals.

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. Details of the 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.

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

The results reported for a 20% Fe cut-off for the Die Hardy magnetite mineralisation are:

Total in‐situ Head Grade resource	Total in‐situ Head Grade resource	s at a 20% Fe cut‐off; Fresh material only	s at a 20% Fe cut‐off; Fresh material only	s at a 20% Fe cut‐off; Fresh material only	s at a 20% Fe cut‐off; Fresh material only	s at a 20% Fe cut‐off; Fresh material only	s at a 20% Fe cut‐off; Fresh material only
Classification	Million Tonnes	Fe	Al2O3	SiO2	P	S	LOI
		(%)	(%)	(%)	(%)	(%)	(%)
Total Indicated	214.9	26.7	3.4	51.0	0.1	0.5	0.7
Total Inferred	137.6	25.2	3.5	52.1	0.1	1.0	1.3
Total Indicated + Inferred	352.6	26.1	3.4	51.4	0.07	0.7	0.9

Figure 8: Die Hardy Range Project Plan

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

Figure 9: Die Hardy Range – Cross Section

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Regional Exploration

Regional geological reconnaissance and ground magnetic surveying has 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.

Ground magnetic surveying was completed over the Jackson Project area (Figure 2) area tracing and better characterising partially buried banded iron formation. 350 line kilometres of ground magnetic measurements were recorded (at 40m line spacing) in the area in June.

Interpretation of the geophysics data is expected to lead to the identification and prioritisation of anomalies that will be tested as approvals permit in 2012.

Corporate

During the quarter Radar announced the completion of a placement of 10 million new shares to a strategic Chinese investor. The placement, as announced on 5 June 2012, was completed at 33 cents, approximately 22% above the last traded price for Radar Iron’s shares at the time of the announcement, and raised $3.3 million before costs.

The funds have provided Radar with sufficient working capital to pursue aggressively its objective of rapidly defining additional hematite resources at its Central Yilgarn project and to commence the mine development process.

The placement was made to Shinewarm Resources (HK) Group Limited (“Shinewarm”), the Hong Kong based investment vehicle of the privately owned Xiamen Meize Xinyuan Trading Co. Ltd. The trading company supplies iron ore, coal and base metals to industrial partners located throughout China. For more information refer to the announcement made on 5 June 2012.

Radar’s cash position at the end of the quarter was $3.9 million.

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

Announcements

The Company made the following announcements during the quarter.

Date	Headline
3/07/2012	Becoming a substantial holder
29/06/2012	Change in substantial holding from POK
28/06/2012	Secondary Trading Notice Pursuant to s708A(5)
27/06/2012	Placement Completed &Appendix3B
26/06/2012	TradingHalt
8/06/2012	Change of Director`sInterestNotice
6/06/2012	Revised Company Presentation
5/06/2012	Placement at Premium to China based Strategic Investor
4/06/2012	Trading Halt
31/05/2012	CompanyPresentation
23/05/2012	Company SecretaryResignation
14/05/2012	Change of Director`s Interest Notice
8/05/2012	Maiden Hematite JORC Resource for Muldoon Prospect
4/05/2012	Change of Director`s Interest Notice x 2
30/04/2012	QuarterlyActivities and Cash flow Report
23/04/2012	DrillingApprovalObtainedfor NewJohnston RangeTarget
10/04/2012	New MineralisedZoneIdentified at Johnston Range
4/04/2012	HematiteMineralisationConfirmed at Johnston Range

For or on behalf of Radar Iron Ltd

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Jonathan Lea

Managing Director

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 June 2012

APPENDIX 1 – RC Drilling Details

	Hole No.	East	North	RL	Azimuth	Dip	Length	Prospect
	RIRC177	708410	6730191	504	260	‐55	72	Clark
	RIRC178	708385	6730177	504	260	‐55	60	Clark
	RIRC179	708353	6730166	504	260	‐55	34	Clark
	RIRC180	708408	6730199	501	80	‐55	60	Clark
	RIRC181	708455	6730166	506	260	‐55	102	Clark
	RIRC182	708439	6730093	506	80	‐55	42	Clark
	RIRC183	708454	6730102	508	260	‐55	66	Clark
	RIRC184	708499	6730023	509	260	‐55	60	Clark
	RIRC185	708469	6730005	501	260	‐55	30	Clark
	RIRC186	708496	6729921	506	80	‐55	80	Clark
	RIRC187	708539	6729901	497	260	‐55	66	Clark
	RIRC188	708520	6729897	498	260	‐55	66	Clark
	RIRC189	708542	6729903	499	80	‐55	66	Clark
	RIRC190	708382	6730293	505	260	‐55	84	Clark
	RIRC191	708351	6730285	502	260	‐55	54	Clark
	RIRC192	708383	6730297	506	80	‐50	54	Clark
	RIRC193	709227	6724024	495	90	‐50	66	Shipley
	RIRC194	709179	6724006	490	100	‐50	36	Shipley
	RIRC195	712996	6712753	508	70	‐50	48	Muldoon
	RIRC196	712997	6712755	508	70	‐70	48	Muldoon
	RIRC197	712998	6712948	501	250	‐50	72	Muldoon
	RIRC198	712991	6712850	501	250	‐70	48	Muldoon
	RIRC199	712989	6712849	501	250	‐50	42	Muldoon
	RIRC200	713058	6712706	509	70	‐50	42	Muldoon
	RIRC201	713064	6712707	510	70	‐70	12	Muldoon
	RIRC202	713063	6712711	510	70	‐70	60	Muldoon
	RIRC203	713027	6712650	508	250	‐70	40	Muldoon
	RIRC204	713030	6712651	508	250	‐50	30	Muldoon
	RIRC205	713101	6712599	513	70	‐55	36	Muldoon
	RIRC206	713086	6712591	511	250	‐55	36	Muldoon
	RIRC207	713104	6712596	513	250	‐55	48	Muldoon
	RIRC208	713042	6712562	509	250	‐50	46	Muldoon
	RIRC209	713027	6712455	508	70	‐70	54	Muldoon
	RIRC210	713022	6712454	507	70	‐50	60	Muldoon
	RIRC211	713137	6712492	514	250	‐60	36	Muldoon
	RIRC212	713051	6712362	512	70	‐60	60	Muldoon
	RIRC213	713114	6712389	515	70	‐60	36	Muldoon
	RIRC214	713113	6712274	515	70	‐60	60	Muldoon
	RIRC215	713072	6712262	517	70	‐60	54	Muldoon
	RIRC216	713144	6712196	509	70	‐50	36	Muldoon
	RIRC217	713142	6712196	509	70	‐70	48	Muldoon
	RIRC218	713081	6712165	511	70	‐55	66	Muldoon
	RIRC219	713072	6712160	511	70	‐70	48	Muldoon
	RIRC220	713083	6712163	511	250	‐70	42	Muldoon
	RIRC221	713161	6712078	513	70	‐50	60	Muldoon
	RIRC222	713095	6712043	515	70	‐60	48	Muldoon

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Quarterly Activities Report

For the Three Months Ended 30 June 2012

	RIRC223	713171	6711978	518	70	‐50	36	Muldoon
	RIRC224	713116	6711953	520	70	‐50	48	Muldoon
	RIRC225	713214	6711885	521	70	‐50	42	Muldoon
	RIRC226	713145	6711852	523	70	‐50	48	Muldoon
	RIRC227	713187	6711771	526	250	‐70	60	Muldoon
	RIRC228	713189	6711774	526	250	‐50	42	Muldoon
	RIRC229	713220	6711791	526	70	‐50	42	Muldoon
	RIRC230	713199	6711663	530	70	‐60	54	Muldoon
	RIRC231	713198	6711666	530	250	‐60	30	Muldoon
	RIRC232	713221	6711564	524	250	‐60	30	Muldoon
	RIRC233	713225	6711572	524	70	‐60	48	Muldoon
	RIRC234	713174	6711977	518	70	‐70	48	Muldoon
	RIRC235	713118	6711957	519	70	‐70	90	Muldoon
	RIRC236	713217	6711886	521	70	‐70	8	Muldoon
	RIRC237	713216	6711889	523	70	‐70	60	Muldoon
	RIRC238	712969	6712939	499	250	‐70	30	Muldoon
	RIRC239	712974	6712846	501	70	‐60	60	Muldoon
	RIRC240	713176	6711764	526	70	‐60	42	Muldoon
	RIRC241	713226	6711792	526	70	‐70	42	Muldoon
	RIRC242	713190	6711660	529	70	‐50	36	Muldoon
	RIRC243	713705	6711622	521	270	‐70	36	Muldoon East
	RIRC244	713923	6711373	503	250	‐70	54	Muldoon East
	RIRC245	713928	6711308	521	250	‐70	42	Muldoon East
	RIRC246	714032	6711257	515	250	‐70	54	Muldoon East
	RIRC247	714007	6711329	518	250	‐70	48	Muldoon East
	RIRC248	714082	6711115	503	70	‐70	30	Muldoon East
	RIRC249	713711	6711622	517	270	‐70	72	Muldoon East
	RIRC250	714056	6712117	521	70	‐70	72	Muldoon East
	RIRC251	714061	6712122	523	70	‐50	90	Muldoon East
	RIRC252	714122	6712058	516	70	‐70	84	Muldoon East
	RIRC253	714120	6712059	511	70	‐50	84	Muldoon East
	RIRC254	714169	6712004	514	70	‐70	66	Muldoon East
	RIRC255	714223	6711943	516	70	‐70	78	Muldoon East
	RIRC256	714222	6711941	517	70	‐50	54	Muldoon East
	RIRC257	714259	6711852	507	70	‐70	66	Muldoon East
	RIRC258	714255	6711851	507	70	‐50	48	Muldoon East
	RIRC259	714170	6712005	511	70	‐50	78	Muldoon East

Coordinates : MGA94 Zone 50 Holes RIRC 177‐222 drilled in June 2012 Quarter Holes RIRC 223‐259 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 Quarter ended (“current quarter”) 15 146 455 576 30 June 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 (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (12 months) $A’000
	- (683) - - (126) - 11 - - -	- (4,153) - - (872) - 120 - - -
	(798)	(4,905)
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)	- - (14) - - - - - -	(1,000) - (19) - - - - - (90)
	(14)	(1,109)
	(812)	(6,014)

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(812)	(6,014)
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	3,300 - - - - -	5,865 - - - - (190)
Net financing cash flows	3,300	5,675
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	2,488 1,416 -	(339) 4,243 -
	3,904	3,904

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
		101
		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
	1,000
	-
	-
	150
Total	1,150

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)	1,504	1,416
	2,400	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	3,904	1,416

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

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	81,265,070	58,449,458
	10,102,941	10,102,941
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
	24,626,704	24,626,704	45cents	30/4/2012
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: 31 July 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.