WEST WITS MINING LIMITED — Capital/Financing Update 2015

Oct 20, 2015

ASX:WWI www.westwitsmining.com ASX:WWI

==> picture [101 x 76] intentionally omitted <==

ASX ANNOUNCEMENT

Non-Renounceable Pro-Rata Rights Issue – Shortfall Notice

21 October 2015

West Wits Mining Limited [ABN 89 124 894 060] (ASX: WWI) (“ West Wits ” or “ the Company ”) advises that the non-renounceable pro-rate Rights Issue of one (1) new share for every four (4) shares held on the Record Date at an issue price of 1.4 cents ($0.014) per share ( ‘the Offer” ) to raise up to approximately $1,109,370 before costs of the issue closed on 16 October 2015.

West Wits received valid acceptances for 26,807,389 new WWI shares, representing 33% of the Offer.

The total shortfall under the Rights Issue was 52,433,285 new shares (“Shortfall”).

In addition the Underwriter, Far East Capital Limited [ACN 068 838 193] ( “Far East” ), has arranged for a substantial shareholder, DRD Gold Ltd (“ DRD Gold ”), to apply for 9,562,500 of the Shortfall shares. These shares represent the entitlement under the offer DRD Gold would have had but for being a foreign shareholder. As a result, the effective level of acceptances is 46% of the Offer (a total of 36,369,889 shares).

The remaining 42,870,785 Shortfall shares are to be issued to the Underwriter and/or subunderwriters in accordance with the terms of the Underwriting Agreement.

The allotment and issue of new shares to accepting shareholders and dispatch of holding statements will occur in accordance with the updated timetable announced to ASX on 7 October 2015.

This notice is given in accordance with Appendix 7A of the ASX Listing Rules.

The Directors of the Company would like to express their thanks for the support provided by participants in the capital raising.

If you have any queries concerning the Rights Issue please contact your financial adviser or Ms Terri Bakos, Company Secretary of West Wits, on +61 3 9824 5254.

1

ASX:WWI www.westwitsmining.com ASX:WWI

==> picture [101 x 76] intentionally omitted <==

For and on behalf of the board

==> picture [158 x 62] intentionally omitted <==

Michael Quinert Chairman West Wits Mining Limited

2