WEST WITS MINING LIMITED — Capital/Financing Update 2011

Aug 25, 2011

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ASX Announcement and Media Release Friday, 26 August 2011

West Wits Incentive Option Program

Following the acquisition of the Derewo River Gold Project, West Wits Mining Limited (“West Wits” or “the Company”) has approved the issue of 11.5 million new options for no additional consideration to management and consultants under the current Employee and Consultant Option Incentive Program. These options will have an exercise price of 8 cents per option and three year expiry date. These are the same terms as the free trading options issued as part of Company’s recently completed capital raising program. These options will also vest progressively; one third on the allotment date, one third on the first anniversary and one third on the second anniversary.

A further 7.5 million options have been approved for issue to the Directors subject to shareholder approval at the AGM. These options are to be issued on the same terms as those referred to above, including the vesting conditions. Further information will be provided with the Notice of Meeting of the AGM in due course.

The purpose of the options being issued is to more appropriately align key staff with the future performance of the Company in both Indonesia and South Africa.

Yours sincerely,

Michael Quinert Chairman West Wits Mining Limited

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