WEST WITS MINING LIMITED — Capital/Financing Update 2013

Oct 13, 2013

ASX: WWI www.westwitsmining.com

Monday, 14 October 2013

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ASX Announcement and Media Release

Fast Facts

Capital Structure @ 14 Oct 2013 Shares on issue 278 million DRD Entitlement Shares 38 million Options 61 million Market Cap A$7.5 million Cash in Bank A$0.6 million Debt Nil Enterprise Value (EV) A$6.9 million Current JORC Resource 287,000 EV / Resource oz A$24.85/oz

Company Directors & Management

Michael Quinert Executive Chairman Vin Savage Exec Director Neil Pretorius Non-Exec Director Hulme Scholes Non-Exec Director

Top Shareholders diluted
DRD Gold Ltd	12%
GOC Holdings Ltd	6%
Twynam Ag Grp	6%
Top 40 Shareholders	75%

Company Highlights

• Indonesia o High grade placer deposit o Project shows early stage similarities with discoveries inc; Porgera, Edie Creek, Wau

• o Independent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered

• South Africa

• 287,000 ozs Au JORC Resource

• o near surface and underground targets

• o 31.8m ozs Au produced historically o Conceptual Target o 3.85-5.06 million ozs Au o 16.5-21.7 million lbs U

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Contact Details West Wits Mining Limited ACN 124 894 060

Suite 1, 1233 High Street Armadale VIC 3143 T: +61(0)3 9824 8166 F: +61(0)3 9824 8161 E: info@westwitsmining.com W: www.westwitsmining.com

Corporate Advisor

Peregrine Corporate Limited Tim Chapman T: +61 9824 8166 E: tchapman@peregrinecorporate.com.au

Airstrip completed with focus now on trial mining activities

Highlights

• Airstrip will be capable of receiving flights later this week

• Excavator will be moved to the 81 creek to begin preparation for trial mining activities

• Sluice box fabrication completed and now being prepared for transportation to site

West Wits Mining Limited (“West Wits” or “the Company”) is pleased to advise that yesterday two pilots from a regional airline inspected the airstrip which has been constructed at the Derewo River Gold Project, Papua Province, Indonesia (“Derewo”). The conclusion from the inspection was that subject to some minor works the airstrip was ready to begin receiving light fixed wing aircraft. The Company is currently undertaking final works such as installation of wind socks as well minor widening of one section of the airstrip. It is expected the airstrip will be capable of receiving aircraft later this week.

The excavator will shortly be moved from the airstrip to the 81 creek where initial trial mining activities are planned. Whilst the excavator is being moved it will also install a number of culverts on the access road to further improve its drainage. It is the Company’s intention that the excavator will be operating in the creek this week to prepare the site for trial mining activities.

Over the last two weeks fabrication of sluice boxes has been undertaken in Nabire. Prior to receiving the concentrator on order from Malaysia, the Company will undertake trial mining activities using a conventional alluvial recovery circuit. This equipment is being broken down into sections and weighed for transport. It is expected the boxes will commence being flown in by helicopter tomorrow.

For And On Behalf Of The Board

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Michael Quinert Chairman West Wits Mining Limited