WEEBIT NANO LTD — Regulatory Filings 2014

May 6, 2014

New Cornerstone Investor

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ACN 146 455 576

ASX Release

07 May 2014

Suite 7, 55 Hampden Rd Nedlands WA 6009 PO BOX 994 Subiaco WA 6904

P + 61 8 9389 9919 F + 61 8 6389 0576 E info@radariron.com.au W www.radariron.com.au

 Lightshare Investments Pty Ltd becomes new cornerstone investor in Radar

• Funds used towards investment in major WA iron ore project acquisition

Radar Iron Ltd is pleased to announce that Lightshare Investments Pty Ltd (a private company owned by the major shareholders of ASX listed Resource Development Group Ltd, RDG) has agreed a 17.2M share placement in Radar at 5 cents per fully paid ordinary share. Lightshare now owns 17.5% of Radar’s issued capital following this placement.

The placement funds will be used for the initial payment for the acquisition of the Yerecoin Project as announced by Radar recently. Through RDG’s 100% owned subsidiary Engenium, Radar and Engenium have been collaborating for some months to develop innovative approaches to develop iron ore deposits in Western Australia that have accessible infrastructure solutions and potential for successful exploitation.

The study findings supported the economic potential of developing the Yerecoin deposit at a low cost of capital in a staged manner hence reducing both the technical and capital risk. On this basis Lightshare decided to participate in the project through a direct investment in Radar – reinforcing the project’s potential.

Contact:

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

Damon Sweeny Company Secretary E damon@ampereltd.com.au

Directors:

Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive

Issued Capital:

98,540,070 Ordinary Shares 7,675,000 Unlisted Options

ASX Code:

RAD (Fully Paid Ordinary Shares)

Lightshare has been offered a non-executive Board position with Radar and has nominated Mr David Sourbutts. Mt Sourbutts is an experienced civil engineer and executive director of Engenium. Mr Sourbutts’ appointment will provide further valuable technical knowledge and capability to Radar’s Board.

Radar is working on a development plan for the project with the intent of playing a role in fulfilling the increasing demand for high grade magnetite ores.

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Radar Project Areas – Western Australia

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New Cornerstone Investor

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RADAR’S MAGNETITE BUSINESS MODEL

Radar believes that with the depletion of high grade direct shipping iron ore, global demand for high grade magnetite concentrate (which can be used to supplement lower grade DSO ore) will increase substantially. Steel production using magnetite ores is more emission friendly, satisfying the drive in China to reduce pollution – hence adding to future demand.

Radar has determined that an orderly, progressive approach to the development of new magnetite ore bodies is preferable. Initial smaller scale economic projects can be repeated or scaled up to successfully enter the high quality iron feedstock business.

This new approach to magnetite project development substantially de-risks the process by negating the need for significant capital prior to the processing and transport characteristics being fully understood.

This strategy drove Radar’s acquisition of the Yerecoin project, that has the potential to initially produce high quality (68%+) magnetite concentrate using a small scale production plant for low capital cost and be in production in the medium term.

For and on behalf of Radar Iron Ltd

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Jonathan Lea Managing Director

COMPETENT PERSON’S STATEMENTS

The information in this report is compiled by Mr Jonathan Lea, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Lea is a full-time employee of Radar Iron Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Lea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that any production target itself will be realised.

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