WEEBIT NANO LTD — Regulatory Filings 2012

Apr 3, 2012

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ACN 146 455 576

ASX Release

4 April 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:

71,162,129 Ordinary Shares 24,626,704 Listed Options 23,050,000 Unlisted Options

ASX Code:

RAD (Fully Paid Ordinary Shares) RADO (Listed Options)

Hematite Mineralisation Confirmed at Johnston Range

Highlights

• Johnston Range drilling has defined two zones of hematite mineralisation up to 1 km long

• Best results include:

• 32m @ 60.4% Fe � 34m @ 59.4% Fe

• � 26m @ 59.5% Fe � 22m @ 59.1% Fe � 18m @ 58.6% Fe � 16m @ 56.4% Fe � 22m @ 56.1% Fe � 20m @ 55.8% Fe

• Resource estimation being planned

Radar Iron Ltd (ASX: RAD) is pleased to provide shareholders with the results of the hematite drilling programme at the Muldoon prospect in Western Australia’s Yilgarn region.

An RC drilling programme was completed in March 2012 with 34 holes drilled for 1410m. The drilling was aimed at testing the hematite mineralisation at the Muldoon prospect. Two adjacent zones of hematite mineralisation were defined and are approximately 10-25m wide and have been tested to 30-40m below surface.

Radar Iron Managing Director Jonathan Lea said, “These results confirm the continuity and economic grades of the two zones of hematite mineralisation at the Muldoon prospect. The near surface mineralisation presents potential for a low cost development opportunity using open cut mining methods.”

“The latest drill data is still being assessed and it is the intent of the Company that resource estimation will be completed in coming months – possibly following some further infill drilling,” Mr Lea said.

Radar’s strategy is to identify hematite resources in 2012, through the drill testing of several individual hematite bodies. Given Radar’s expectation to access infrastructure (particularly rail and port) and the potential low capital cost of development, ore bodies of relatively small size with the grades and properties of the drill intercepts to date may have the potential to be viable for extraction. The confirmation that mineralisation can continue under cover suggests the potential for mineralisation could be greater than previously thought.

Media Enquiries:

Fortbridge +612 9331 0655 Bill Kemmery 0400 122 449

Radar has access to more than 1,100 km[2] of tenements with the potential to host iron ore mineralisation. Overall, the latest drilling tests a fraction of the area of Radar’s tenement holding that is perceived to have hematite potential. The company remains focussed on evaluating all its land tenure for hematite mineralisation in this well-endowed iron ore province.

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HEMATITE DRILL RESULTS

Discussion

The RC drilling was focussed on the Muldoon hematite prospects at Johnston Range that had been defined by previous exploration. The target was for near-to-surface hematite mineralisation, extractable through shallow open pit mining operations.

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Figure 1: Regional Location
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Two zones of mineralisation, lying approximately 60m apart, were tested. The western zone is approximately 1000m long, 10-15m wide, and was drilled to 30-35m depth. The eastern zone is 600m long, 10-20m wide, and drilled to 35-40m depth (Figure 4).

Numerical averages of the grades for both zones are 56-58% Fe with reasonable assay levels for contaminants (Table 1 and Figure 5). Calcined iron grades average around 60% Fe. Typical bulk densities for this type of material in the region are 2.7-3.0.

As sub-grade material and mineralisation with higher levels of contaminants have also been intercepted in some locations, a metallurgical study has been commissioned to determine whether this mineralisation can be upgraded by relatively simple processes. Results for this are expected in the June Quarter and could lead ultimately to a larger resource base and a higher quality product.

As the mineralisation lies on or at surface, extraction through shallow open pit mining may be 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. However, further exploration work including establishing resources and reserves is required to establish any case for mining operations.

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HEMATITE DRILL RESULTS

The success of this drilling programme highlights a number of key factors that have significant implications for further work:

• Continuous hematite mineralisation with economic grades has been demonstrated to exist

• Mineralisation has now been identified under shallow cover, hence enlarging the potential for strike extension to identified outcrop

• The mineralisation is on or near to surface and hence can be extracted by open cut mining methods

Figure 2: Project Location Plan

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HEMATITE DRILL RESULTS

The Muldoon prospect lies on the Horse Well Anticline that defines the 40km long belt of banded iron formation on the Johnston Range tenements (Figure 3). The Johnston Range is comprised of multiple bands of BIF and hence represents a target of several hundred linear kilometres of BIF with potential for hematite enrichment. Surface mapping over the past year has identified hundreds of individual hematite outcrops. The confirmation that mineralisation can continue under cover along strike from these outcrops suggests that the potential for mineralisation could be greater than previously thought.

Mapping and geophysical assessment is continuing to define and prioritise hematite targets in the Johnston Range area which will be tested in 2012. The Company will continue resource definition in coming months, with a strategy to identify further hematite resources through the drill testing of individual hematite bodies.

Radar has access to more than 1,100 km[2] of tenements with the potential to host iron ore mineralisation. Overall, the latest drilling tests a fraction of the area of Radar’s tenement holding that is perceived to have hematite potential. The company remains focussed on evaluating all its land tenure for hematite mineralisation in this wellendowed iron ore province.

Figure 3: Muldoon Location Plan

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HEMATITE DRILL RESULTS

TABLE 1 – Muldoon Prospect – RC Drilling Assay Results

Hole No.	From	To	Length	Fe %	SiO2 %	Al2O3 %	P %	S %	LOI	Ca Fe %
RIRC143	0	34	34	59.40	8.14	2.83	0.06	0.05	4.30	62.07
RIRC144	38	56	18	58.61	6.33	4.21	0.07	0.05	6.59	62.74
RIRC145	6	28	22	56.14	6.27	5.18	0.04	0.26	7.33	60.58
RIRC146	10	26	16	54.55	6.10	6.85	0.04	0.77	8.34	59.51
RIRC147	4	10	6	51.00	12.26	8.07	0.04	0.06	6.37	54.47
RIRC147	18	22	4	55.22	9.13	6.33	0.06	0.14	5.48	58.42
RIRC148	4	8	4	57.00	9.65	4.27	0.03	0.05	4.44	59.64
RIRC149	4	8	4	53.93	7.71	4.49	0.05	0.81	8.79	59.12
RIRC149	14	20	6	55.36	7.23	5.45	0.06	0.37	7.95	60.14
RIRC150	10	22	12	53.21	8.39	5.94	0.07	0.81	8.81	58.36
RIRC151	4	20	16	52.02	6.50	6.94	0.04	1.25	10.4	58.04
RIRC152	6	22	16	54.26	7.79	6.12	0.04	0.58	8.03	58.99
RIRC153	10	18	8	52.87	16.95	3.67	0.06	0.27	4.15	55.16
RIRC153	24	36	12	56.73	13.18	2.11	0.06	0.11	3.91	59.04
RIRC154	0	12	12	58.16	8.02	3.93	0.08	0.07	5.12	61.30
RIRC155	12	38	26	52.05	11.96	5.69	0.06	0.20	7.56	56.31
RIRC156	8	24	16	56.44	6.82	4.43	0.07	0.24	7.65	61.11
RIRC157	22	34	12	59.52	5.90	4.14	0.07	0.12	5.29	62.85
RIRC158	6	38	32	60.36	5.22	3.46	0.06	0.21	4.95	63.51
RIRC159	6	30	24	52.90	11.41	7.08	0.07	0.07	5.66	56.07
including	10	22	12	59.15	5.20	4.66	0.09	0.08	5.81	62.79
RIRC160	2	24	22	49.04	13.87	8.46	0.05	0.29	7.42	52.97
RIRC161	6	26	20	55.83	7.67	6.38	0.05	0.07	6.32	59.59
RIRC162	2	18	16	55.93	8.18	6.33	0.04	0.07	5.62	59.26
RIRC163	6	32	26	59.54	8.55	2.17	0.06	0.26	4.00	62.01
RIRC164	0	22	22	59.09	7.21	3.63	0.03	0.14	4.50	61.87
RIRC165	10	14	4	51.48	5.58	10.39	0.03	0.24	9.33	56.77
RIRC166	18	22	4	57.73	4.81	3.81	0.05	0.09	7.06	62.12
RIRC167	0	32	32	54.00	11.01	6.20	0.05	0.15	5.66	57.24
RIRC168	0	22	22	53.94	12.65	5.23	0.05	0.08	4.97	56.76
RIRC169	24	30	6	49.53	21.65	2.92	0.08	0.02	5.83	52.60
RIRC172	12	28	16	54.41	9.59	5.00	0.05	0.24	7.19	58.63
RIRC173	10	24	14	55.76	8.05	5.56	0.05	0.23	6.22	59.46
RIRC174	24	30	6	50.01	16.12	5.66	0.08	0.15	7.40	54.00

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 CaFe – Calcined iron grade XRF assaying completed by Spectrolab, Geraldton

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HEMATITE DRILL RESULTS

Figure 4: Drill Hole Location Plan - Muldoon

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HEMATITE DRILL RESULTS

Figure 5: RC Drill Results – Muldoon

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HEMATITE DRILL RESULTS

Yours faithfully,

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.

Radar Iron advises that the potential grade and quantity of iron deposits reported as exploration results 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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HEMATITE DRILL RESULTS

APPENDIX 1 – Muldoon Prospect – RC Drilling Details

Hole No.	Easting	Northing	RL	Azimuth	DIP	Length
RIRC143	713130	6712386	628	70	‐70	60
RIRC144	713159	6712290	517	70	‐50	62
RIRC145	713132	6712281	521	250	‐70	36
RIRC146	713131	6712279	515	250	‐55	36
RIRC147	713131	6712486	517	70	‐70	42
RIRC148	713133	6712488	523	70	‐50	18
RIRC149	713082	6712568	513	70	‐70	72
RIRC150	713076	6712570	512	70	‐50	66
RIRC151	713073	6712709	486	250	‐70	54
RIRC152	713077	6712713	513	250	‐55	30
RIRC153	713022	6712558	506	70	‐70	46
RIRC154	713026	6712558	506	70	‐50	36
RIRC155	713046	6712461	497	250	‐70	54
RIRC156	713047	6712459	497	250	‐50	36
RIRC157	713073	6712369	513	250	‐70	54
RIRC158	713073	6712365	513	250	‐55	42
RIRC159	713088	6712259	493	250	‐70	42
RIRC160	713088	6712257	493	250	‐50	36
RIRC161	713094	6712170	494	250	‐70	42
RIRC162	713096	6712168	494	250	‐55	42
RIRC163	713165	6711858	538	250	‐70	36
RIRC164	713162	6711859	547	250	‐50	30
RIRC165	713111	6712054	497	250	‐70	36
RIRC166	713111	6712050	502	250	‐50	30
RIRC167	713130	6711961	534	250	‐70	42
RIRC168	713133	6711959	534	250	‐50	30
RIRC169	713162	6712200	505	250	‐70	36
RIRC170	713142	6712505	510	250	‐70	42
RIRC171	713086	6712482	505	250	‐60	30
RIRC172	713009	6712754	504	250	‐70	36
RIRC173	713009	6712757	504	250	‐50	42
RIRC174	713208	6711880	523	70	‐70	48
RIRC175	713190	6711985	519	70	‐70	36
RIRC176	713177	6712083	504	70	‐70	30

Coordinates : MGA94 Zone 50

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