WEST WITS MINING LIMITED — Capital/Financing Update 2013

Feb 25, 2013

ASX: WWI www.westwitsmining.com

,

ASX Announcement and Media Release Tuesday, 26[th] February 2013

Fast Facts

Capital Structure @ 26 Feb 2013 Shares on issue 255 million Performance Shares 46 million DRD Entitlement Shares 38 million Options 61 million Market Cap A$4.3 million Cash in Bank A$1.8 million Debt Nil Enterprise Value (EV) A$2.5 million Current JORC Resource 287,000 EV / Resource oz A$9/oz

Company Directors & Management	Company Directors & Management
Michael Quinert	Executive Chairman
Vin Savage	Exec Dir
Neil Pretorius	Non-Exec Dir
Phillip Hains	Non-Exec Dir/ Co Sec
Hulme Scholes	Non-Exec Dir

Top Shareholders diluted
DRD Gold Ltd	13%
GOC Holdings Ltd	8%
Trevor Neale	5%
Top 40 Shareholders	74%

Company Highlights

• Indonesia

• High grade placer deposit

• o Project shows early stage similarities with discoveries inc; Porgera, Edie Creek, Wau

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

$1 million installment payment received

West Wits Mining Limited (“West Wits” or “the Company”) confirms receipt of the next $1 million instalment payment under the Randfontein sale agreement.

The payment schedule is as follows;

Instalment	Timing	Amount
Upfront payment	received	A$2 million
First instalment	received	A$1 million
Interim instalment	received	A$1 million
Interim instalment	22 May 2013	A$1 million
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.

• South Africa

• 287,000 ozs Au JORC Resource

• near surface and underground targets

• 31.8m ozs Au produced historically

• o Conceptual Target

  • 3.85-5.06 million ozs Au

  • o 16.5-21.7 million lbs U

==> picture [162 x 133] intentionally omitted <==

For And On Behalf Of The Board

==> picture [140 x 64] intentionally omitted <==

Michael Quinert Chairman West Wits Mining Limited

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