WEEBIT NANO LTD — Regulatory Filings 2012

Jan 22, 2012

Significant Hematite Mineralisation Intercepted

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Highlights

• Significant intervals of hematite mineralisation intercepted

• Best result 24m @ 57.4% Fe

ACN 146 455 576

• Further drilling approvals pending to enable resource evaluation drilling

ASX Release

23 January 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

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

An RC drilling programme was completed in December 2011 with 77 holes drilled for 6003m. The drilling was aimed at testing hematite targets generated from mapping and geophysical evaluation both at the Johnston Range and Evanston project areas.

Radar Iron Managing Director Jonathan Lea said, “These results are an important step in the process of defining our initial hematite resources.”

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)

Media Enquiries:

Fortbridge +612 9331 0655 Bill Kemmery 0400 122 449

“The drilling has confirmed the potential for hematite mineralisation and more detailed drilling is now required to enable resource evaluation and further drilling approvals are pending.”

The area tested represents approximately 25% of Radar’s tenement holding with the potential to host hematite mineralisation. Mapping and geophysical assessment is continuing to define further hematite targets which will be tested in 2012.

Figure 1: Regional Location

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HEMATITE DRILL RESULTS

Drill Results

The RC drilling was aimed at drill testing numerous hematite targets at the Johnston Range and Evanston projects. The targets were identified through a combination of geological mapping and aero-magnetic and gravity geophysical interpretation. The target was for near-to-surface pods of hematite mineralisation, mineable through shallow open pit operations.

The prospects tested 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 an adjoining banded iron formation (BIF) ridge on the Evanston project. 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.

Assaying was completed on a 2m sample length. Assay results are shown in Table 1 below with details of the holes in Appendix 1.

Figure 2: Project Location Plan

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HEMATITE DRILL RESULTS

TABLE 1 Assay Results

Prospect	Hole No.	From	To	Interval		Intercepts ‐ Average Grade	Intercepts ‐ Average Grade	Intercepts ‐ Average Grade
					Fe %	SiO2 %	Al2O3 %	P %	LOI
Evanston	RIRC075	12	20	8	59.1	6.6	3.4	0.05	5.8
Evanston	RIRC076	24	30	6	61.7	5.5	2.5	0.08	3.9
Olger	RIRC080	26	34	8	57.1	8.0	3.4	0.07	6.8
Muldoon	RIRC091	30	38	8	57.8	7.4	5.2	0.08	4.4
Muldoon	RIRC092	8	20	12	50.5	13.6	6.9	0.06	6.6
Muldoon	RIRC093	6	16	10	55.5	7.2	6.1	0.06	6.9
Muldoon	RIRC094	14	20	6	57.5	7.8	4.5	0.02	6.0
Muldoon	RIRC095 including	16 16	34 26	18 10	56.0 59.2	7.1 4.6	5.3 3.3	0.07 0.08	7.4 7.2
Muldoon	RIRC096	38	48	10	54.7	10.2	5.5	0.02	6.4
Muldoon	RIRC098	12	18	6	53.9	10.8	6.3	0.07	4.9
Muldoon	RIRC099	8	32	24	57.4	7.8	4.8	0.07	4.8
Muldoon	RIRC100	6	18	12	53.5	9.0	7.2	0.04	6.9
Muldoon	RIRC102	0	6	6	53.8	7.2	6.1	0.03	8.5
Muldoon	RIRC104	4	16	12	53.4	11.9	5.2	0.06	6.3
Rowling	RIRC105	4	16	12	52.5	13.7	4.0	0.04	6.6
Rowling	RIRC108	34	40	6	53.5	10.5	5.8	0.05	6.7
Lange	RIRC115	4	26	22	48.3	16.3	5.8	0.08	8.5
Shipley	RIRC123	28	38	10	49.0	20.0	2.2	0.06	8.5
Rowling	RIRC126	26	34	8	56.4	10.7	3.9	0.07	5.3
Olger	RIRC140	0	6	6	53.4	7.5	4.7	0.03	10.3

Notes:

Sampling and assay intervals – 2 metres Minimum interval width 6m 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

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HEMATITE DRILL RESULTS

Figure 3: December 2011 RC Drilling

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Discussion

A number of significant intercepts of hematite have been identified both on the Johnston Range and Evanston Projects. Further drilling is required to test the strike and depth extent prior to potential resource evaluation.

The potential for mineralisation suitable for economic extraction has been reinforced by this drilling with the indication of pods grading over 55% Fe and up to 300-400m in length and 20m wide.

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 have the potential to be viable for mining extraction.

Further drilling is planned subject to normal approvals to enable infill drilling leading to potential resource estimation as warranted.

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HEMATITE DRILL RESULTS

The drilling has only tested the more obvious targets at Johnston Range to date – the presence of multiple BIF bands and the variable strike length of the mineralisation means there are a significant number of potential targets generated from mapping and geophysics yet to be drill tested.

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 approximately 25% 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.

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.

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HEMATITE DRILL RESULTS

APPENDIX 1 – RC Drilling Details

Prospect	Hole No	Easting	Northing	RL	Azimuth	Dip	Depth
Evanston	RIRC066	732392	6713143	449	150	‐60	60
Evanston	RIRC067	732480	6713277	484.5	130	‐60	54
Evanston	RIRC068	732536	6713352	486.4	120	‐60	84
Evanston	RIRC069	732816	6713475	491.2	110	‐60	72
Evanston	RIRC070	732780	6713651	454	90	‐60	72
Evanston	RIRC071	732957	6713816	456	110	‐60	90
Evanston	RIRC072	732386	6713147	488	NA	‐90	132
Evanston	RIRC073	732096	6712902	486.7	120	‐60	78
Evanston	RIRC074	732001	6712735	485.3	120	‐60	60
Evanston	RIRC075	731747	6712113	481.4	105	‐60	36
Evanston	RIRC076	731733	6712123	482.3	105	‐60	42
Evanston	RIRC077	731771	6712159	445	105	‐60	30
Lange	RIRC078	726633	6715418	488	120	‐60	92
Olger	RIRC079	723175	6712177	479.3	315	‐60	108
Olger	RIRC080	723094	6712128	468.7	315	‐60	93
Olger	RIRC081	723199	6712143	469	315	‐60	132
Evanston	RIRC082	731795	6712353	475	115	‐60	132
Evanston	RIRC083	731747	6712113	481	115	‐60	96
Evanston	RIRC084	731819	6712341	478	115	‐60	78
Evanston	RIRC085	732293	6713091	480	115	‐55	102
Shipley	RIRC086	710668	6717810	467	80	‐55	121
Rowling	RIRC087	712488	6714010	494	80	‐55	60
Rowling	RIRC088	712408	6714347	498	260	‐55	96
Rowling	RIRC089	712517	6714401	493	250	‐55	60
Rowling	RIRC090	712063	6712970	516	270	‐55	90
Muldoon	RIRC091	713719	6711625	511	270	‐55	96
Muldoon	RIRC092	713853	6711619	519	240	‐55	108
Muldoon	RIRC093	713859	6711448	505	90	‐55	120
Muldoon	RIRC094	714387	6711748	532	230	‐55	60
Muldoon	RIRC095	714205	6711957	500	70	‐55	60
Muldoon	RIRC096	714429	6711569	503	230	‐55	96
Muldoon	RIRC097	713070	6712786	508	260	‐55	78
Muldoon	RIRC098	713120	6712598	514	260	‐55	70
Muldoon	RIRC099	713134	6712391	516	260	‐55	78
Muldoon	RIRC100	713162	6712198	511	260	‐55	102
Muldoon	RIRC101	713104	6711752	523	260	‐55	42
Muldoon	RIRC102	713043	6711777	518	260	‐55	48
Muldoon	RIRC103	713148	6711572	538	260	‐55	102
Muldoon	RIRC104	713251	6711722	525	260	‐55	60
Rowling	RIRC105	712067	6713149	521	260	‐55	108

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HEMATITE DRILL RESULTS

Rowling	RIRC106	712105	6713161	524	260	‐55	108
Rowling	RIRC107	712139	6713166	529	260	‐55	102
Rowling	RIRC108	711825	6713744	511	250	‐55	78
Evanston	RIRC109	733829	6712113	497	330	‐55	90
Evanston	RIRC110	733693	6712064	483	150	‐55	126
Evanston	RIRC111	734399	6712339	485	310	‐55	78
Evanston	RIRC112	734353	6712521	492	130	‐55	90
Dang	RIRC113	729289	6717477	482	250	‐55	90
Dang	RIRC114	729073	6717020	472	260	‐55	96
Lange	RIRC115	727267	6715585	477	260	‐55	108
Lange	RIRC116	727336	6715665	474	260	‐55	60
Lange	RIRC117	727491	6715792	487	260	‐55	60
Lange	RIRC118	727783	6715925	492	260	‐55	108
Rowling	RIRC119	711031	6716928	476	290	‐55	84
Shipley	RIRC120	710556	6718604	484	110	‐55	60
Shipley	RIRC121	710477	6718830	490	95	‐55	72
Shipley	RIRC122	710369	6719512	495	290	‐55	84
Shipley	RIRC123	710463	6719692	503	260	‐55	66
Shipley	RIRC124	710036	6722343	471	260	‐55	54
Shipley	RIRC125	709731	6723075	475	260	‐55	48
Rowling	RIRC126	712027	6715814	489	260	‐55	60
Rowling	RIRC127	712136	6715904	495	250	‐55	48
Rowling	RIRC128	712284	6715196	495	250	‐55	60
Rowling	RIRC129	712397	6715135	487	70	‐55	60
Rowling	RIRC130	712427	6715134	489	70	‐55	42
Rowling	RIRC131	711738	6714496	516	240	‐55	78
Rowling	RIRC132	712521	6714840	485	150	‐55	60
Rowling	RIRC133	712155	6714377	501	300	‐60	54
Rowling	RIRC134	712217	6714220	488	270	‐60	48
Rowling	RIRC135	712651	6713626	498	240	‐55	60
Bolger	RIRC136	719634	6710641	495	340	‐55	80
Bolger	RIRC137	719831	6710823	487.6	340	‐55	60
Bolger	RIRC138	719609	6709985	486.7	310	‐55	78
Bolger	RIRC139	719053	6711046	489.6	160	‐55	78
Olger	RIRC140	721804	6711091	480.4	35	‐55	78
Olger	RIRC141	721354	6711845	495.1	35	‐55	90
Olger	RIRC142	720979	6711248	470	35	‐55	9

Coordinates : MGA94 Zone 50

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