WEST WITS MINING LIMITED — Capital/Financing Update 2013

May 29, 2013

ASX: WWI

www.westwitsmining.com

ASX Announcement and Media Release Thursday, 30[th] May 2013

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Fast Facts

Capital Structure @ 30 May 2013 Shares on issue 278 million Performance Shares 46 million DRD Entitlement Shares 38 million Options 61 million Market Cap A$4.2 million Cash in Bank A$1.8 million Debt Nil Enterprise Value (EV) A$2.4 million Current JORC Resource 287,000 EV / Resource oz A$8/oz

Company Directors & Management	Company Directors & Management
Michael Quinert	Executive Chairman
Vin Savage	Exec Dir
Neil Pretorius	Non-Exec Dir
Hulme Scholes	Non-Exec Dir

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

Company Highlights

•	Indonesia	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

	o	Porgera, Edie Creek, Wau Independent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered
•	South	Africa
	o	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

West Wits Reaches Agreement To Deliver It Control Of Alluvial Minesite

West Wits Mining Limited (“West Wits” or “the Company”) has signed a co-operation agreement with the principal artisanal mining operator at Derewo River which provides a pathway for the transition from current artisanal mining to a Company operated conventional alluvial mine at the site. The parties envisage that this staged transition will occur over six to eight months during which the Company will complete construction of infrastructure and commence mining through a hydraulic alluvial circuit whilst the artisanal operations are progressively wound down. The Agreement covers the Company’s 40 ha mining lease located on the Derewo River, Papua Province, Indonesia.

The signing of this co-operation agreement will enable the Company to begin processing the alluvial gravels through a basic gravity circuit at an early stage and prior to the full alluvial circuit becoming operational. This early stage production will be undertaken at alternate sites to where the main artisanal population currently works and resides prior to their relocation.

This agreement is an important step as the key opponent to the Company’s progress has now agreed to support West Wits as the ultimate operator of the mine. This agreement obliges the principal party of the artisanal operation to support the development activity of West Wits.

The completion of this agreement has been made possible through the relationships forged by the Company with the indigenous community as well as with a number of key officers within the Indonesian law enforcement agencies. These relationships have enabled us to generate strong underlying support for the Company to continue to develop its alluvial project without frustration or obstruction.

This co-operation agreement focusses on implementation through ongoing consultation with all key interested parties. It requires West Wits to consult the principal party of the artisanal operation and present the Company’s mining plan, each specific stage of the development and associated timeline.

The agreed process allows both groups to cohabitate at the project site during the transition period whilst West Wits is completing its required infrastructure of the alluvial circuit and water storage facilities.

West Wits believes these arrangements will provide a solid foundation for its future activities in that it delivers benefits for all stakeholders. Principally, the strong support the Company now receives from the local indigenous community, which has become increasingly pro-active, has promoted resolution, compromise and a pathway for transition in order to defuse tensions at the project site.

However, the agreement also secures benefits to the other party who controls a commercial helicopter company which West Wits will engage to transport supplies to site whilst the infrastructure is completed. Furthermore, the other party will also now become directly entitled to a 30% economic interest in the alluvial project. This transfer will be made from the Company’s local partner and does not affect West Wits 50% economic interest in the alluvial circuit.

The first round of consultation has already commenced under this agreement. We anticipate that the Company’s heavy machinery will recommence work under this agreement next week.

The Company also received on 23 May 2013 the next $1 million instalment payment under the Randfontein sale agreement. The balance of the payment schedule is as follows;

Instalment	Timing	Amount
Interim instalment	22 August 2013	A$1 million*
Final payment	Dependent on production +	A$ 3 million

*Subject to regulatory approval for the transfer of the leases

+Paid progressively based on R110 per tonne of ore processed, post the notional repayment of $5m advance payments made under the interim contract to mine.

For And On Behalf Of The Board

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Michael Quinert Chairman West Wits Mining Limited