ZEOTECH LIMITED — Capital/Financing Update 2013

Feb 12, 2013

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FEBRUARY 13, 2013
ASX ANNOUNCEMENT
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Sale of Assets to Laconia Resources

Shaw River Manganese Limited (ASX: SRR) (Shaw River or the Company) is pleased to announce that it has entered into a Mining Property Sale Agreement with Laconia Resources Limited (ASX: LCR) (Laconia).

Under the Mining Property Sale Agreement, Shaw River will acquire Laconia’s interests, including tenement ownership, in the Baramine tenements (E45/3233, E45/3234, E45/3312) where Shaw River currently holds Iron and Manganese rights, (70% SRR and 30% Pandell) and Shaw River will sell its interests in the 701 Mile (E52/2232, E52/2688) and Weelarana (E52/2664, E52/2702) tenements, to Laconia.

Shaw River and Laconia will each retain a future production royalty, in respect of the tenement interests transferred to the other party.

Laconia must pay to Shaw River the royalties as follows ( Shaw Royalty ):

• a royalty equal to 2.5% of the gross proceeds received by Laconia from the sale of “Iron Ore and Manganese Ore”, recovered from the 701 Mile Tenements; and

• a royalty equal to 2.5% of the gross proceeds received by Laconia from the sale of “All Minerals”, recovered from the Weelarana Tenements,

Shaw River must pay to Laconia a royalty as follows ( Laconia Royalty ):

• a royalty equal to 2.5% of the gross proceeds received by Shaw River from the sale of “Base and Precious Metals” recovered from the Baramine Tenements

This transaction is consistent with Shaw River’s strategy following the recent review of its Australian tenement holdings. The sale of the Company’s interests in the 701 Mile and Weelarana tenements will reduce Shaw River’s annual expenditure commitments by about $ 335,000 and reflects the Company’s focus on its Otjozondu Manganese Project in Namibia, together with its earlier stage manganese exploration projects in Australia.

Peter Benjamin Managing Director

13 February, 2013

A copy of this release can be downloaded from www.shawriver.com.au

Background

Shaw River Manganese Limited (ASX: SRR) is a manganese exploration and development company, focused on exploring and developing its 75.5% owned Otjozondu Project in Namibia. Iron ore producer Atlas Iron Limited holds 53.45% of Shaw River Manganese Limited and is a strong supporter of Shaw River’s manganese strategy. Shaw River has a number of other manganese exploration projects at Butre in Ghana and Baramine in the East Pilbara Manganese Province of Western Australia.

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