Company Information for West Wits Mining Limited

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ASX; WWI

Company Statement

On 26th April 2007 Mintails Limited and DRDGOLD Limited (NASDAQ: DROOY: JSE: DRD) announced reaching an agreement on the formation of a joint venture company now called West Wits Mining Limited (West Wits) to explore, evaluate and potentially extract gold and uranium from the Company's Project Areas located on the West Rand Goldfield of South Africa's Witwatersrand Basin. West Wits listed on the ASX through an Initial Public Offering (IPO) on the 19th December 2007and raised $15 million.

West Wits' objective is to explore, delineate and, if commercially viable, extract gold and uranium from a Project Area located on the north-western side of the Witwatersrand Basin, which is regarded as one of the largest mineralised gold and uranium systems in the world and is widely known for its rich, continuous multiple reef ore-bodies. The Company's Project Area is located on the western side of the Rand Goldfields and forms part of what came to be known as the West Rand Goldfield.

West Wits has entered into a contract for the acquisition of prospecting and mining rights from DRDGOLD Limited, Mintails Limited and Geotorm Investments Limited. These rights, which will be held through subsidiaries, comprise the historical holdings of Rand Lease, Durban Roodepoort Deep Mine ("the DRD Mine"), East Champ D'Or Mine, Luipaardsvlei Mine, West Rand Consolidated Mine and West Wits Mine. These mines collectively produced 61.4 million ounces of gold and 35 million lbs of uranium over the past 120 years. The reefs contained within the Project Area include features such as outcropping reef, untested virgin sections of reef, reefs open at depth and remnant pillars within the historic works.

West Wits has access to historical mining data, some of which dates back to initial activities in the region over 100 years ago. The Company believes that its Project Area holds the potential for gold and uranium mineralisation, which, when combined with current commodity prices and advanced processing technologies, may provide economic value.

The Company's exploration program will seek to investigate three types of exploration targets: surface resource targets (less than 70m below surface) with open cut mining potential; unmined reefs with underground mining potential, particularly at shallow depths; and underground remnant pillar recovery potential and possible opportunistic recovery of remnant gold fines remaining from historical mining activities.

West Wits will initially focus on the well-known Bird Reef Group, which is contiguous through the Project Area. The section of the Bird Reef Group, which runs through the Rand Lease, was the subject of extensive commercial mining for a long period. The same reef has remained unexploited on the adjacent DRD Mine and will therefore provide a major focus of West Wits' initial exploration program.

Once exploration has begun on the Bird Reef Group, it is anticipated that other reef groups will be explored. Some of these reefs, such as the Main Reef Group, have been mined extensively, and may lend themselves to remnant pillar recovery.

Other reef groups, such as the Kimberly, have the potential for larger open cut and underground remnant pillar recovery. The Company has assembled an experienced team of geological, technical and corporate personnel to further its objectives. The Company's goal will be to apply the capital raised to explore the Project Area utilising modern exploration techniques and through examining available data concerning the region accumulated over 100 years.

Current Operations

World renown gold and uranium producing leases

Project Areas located within the Witwatersrand Basin, 20 km west of Johannesburg, South Africa
Witwatersrand Basin regarded as one of the largest mineralized gold and uranium systems in the world
Rich, continuous multiple reef ore bodies
Goldfield became known as the Rand Goldfields
Gold first discovered in 1886
50,000 tonnes of gold produced from the entire Rand Goldfield which equates to 40% of all historic world gold production

World Class historical production

61.4m oz's of gold produced at 5.42 g/t from WWI's leases
37.7m lbs of uranium produced at 0.61 g/t from WWI's leases

Existing outcropping reef on all leases

Outcropping reef highlights the potential of near surface mineralisation
Near surface mineralisation, subject to further exploration, may provide an opportunity for rapid small scale open cut mining

Underground mineralisation potential

Potential for significant underground mineralisation due to the presence of unexploited reefs and reef outcrops which are open at depth in a historically productive geological setting
Reefs such as the Bird Reef Group, predominately mineralized with uranium, remain largely intact, as previous lease owners were focused specifically on gold. The prevailing uranium price also did not allow for profitable mineral extraction

Historical Underground Workings

Project Areas contain extensive underground workings
Workings will potentially facilitate and minimize implementation costs in accessing the underground target reefs

Historical Data WWI have access to historical data from over 100 years of mining completed on these Project Areas which enabled WWI to identify its initial targets

Geographical Spread

South Africa

Board of Directors and Key Management

Board of Directors

Michael Quinert - Chairman - LL.B, B.Ec

Michael Quinert graduated with degrees in economics and law from Monash University in 1984 and 1985 respectively and has over 20 years experience as a commercial lawyer, including three years with ASX Limited and over 15 years as a partner in a Melbourne law firm. He has extensive experience in assisting and advising public companies on capital raising and market compliance issues and has regularly advised publicly listed mining companies.

Michael sits as Chairman of the Remuneration and Nomination Committee and Chairman of the Audit, Risk and Compliance Committee. Michael is also a Director of publicly listed Victorian Livestock Exchange Ltd.

Grant Ferguson - Executive Director - BSc (Geol), PGradDip(Mining), MAusIMM, MAIG, MAICD

Grant Ferguson is a geologist with International mining experience, having worked in countries as diverse as Zimbabwe and Papua New Guinea in senior management positions including Chief Geologist and Senior Underground Geologist.

He has been involved in a range of mineralisation styles and mining methods at senior levels. He has fulfilled consultant geologist roles generating resource estimates in porphyry copper and narrow vein/shear hosted gold deposits plus reviewing rassroots exploration through to advanced resources on uranium projects in Eastern Africa and base metal/gold in South America.

Grant is a member of the Australian Institute of Mining and Metallurgy (MAusIMM), Australian Institute of Geoscientists (MAIG) and Member of the Australian Institute of Company Directors (MAICD) and has extensive commercial management experience.

Grant is a member of the Remuneration and Nomination Committee and a member of the Audit, Risk and Compliance Committee. Grant is also a Non-executive Director of X-Plor Limited.

Diederik van der Walt - Non-executive Director - BLC, LL.B, LLM

Dick was born and educated in South Africa. After completing compulsory military service in 1988 he became a Senior Tax Advocate within the South African Department of Finance. He subsequently became an Associate Director of Deloitte and Touche Tax Consultants before working as Manager Tax and Legal for Gensec Bank (South Africa) as part of the Special Projects and Structure of Products team.

Currently, Dick is an Executive Director and Chief Executive Officer of ASX-listed Mintails Limited, a tailings treatment company operating in South Africa. Dick has overseen the transformation of Mintails from when it re-listed in December 2005 with a market capitalisation of $30 million to a company that now has a market capitalisation in excess of $400 million.

Dick will be able to provide invaluable guidance through the continually evolving Mineral and Petroleum Resources Development Act, which was promulgated in May 2004. His expertise in dealing with BEE groups as well as converting old order rights to new order rights will be central to West Wits' development.

Niel Pretorius - Non-executive Director - BProc, LL.B

Niel was appointed Group Legal Counsel for DRDGOLD in February 2003. Niel has 13 years of experience in the mining industry and was appointed as Chief Executive Officer of DRDGOLD SA Operations (Pty) Limited in July 2006.

Niel has been present through the re-focus of DRDGOLD's strategic plan back towards their core South African operations. Since this re-focus Niel has seen significant increases in resources at DRDGOLD's East Rand Proprietary Mines Limited's (

Company Address

Suite 1, 1233 High Street
Armadale,, Victoria, Australia VIC 3143


Telephone:	+61 3 9824 8166
Facsimile:	+61 3 9824 8161
Email:	info[at]westwitsmining.com
Website:	http://www.westwitsmining.com

Capital

77,750,000 Fully paid ordinary shares
1,100,000 Fully paid restricted (30 June 08) ordinary shares
42,900,120 Fully paid restricted (19 December 08) ordinary shares
9,000,000 Unlisted Options expiry 15 Dec 2012 exercisable 20c

Annual General Meeting

TBA

Year End

30 June

Nominated Brokers

Bell Potter Securities Limited
Level 33
Grosvenor Building
225 George Street
Sydney, NSW, 2000

Nominated Advisors

Peregrine Corporate Limited
Suite 2, 1233 High Street
Armadale, VIC, 3143

Major Shareholders

Shareholder	Holding	%
MINTAILS LTD	33,750,000	27.72%
JP MORGAN NOM AUST LTD	10,007,850	8.22%
HSBC CUSTODY NOM AUST LTD	9,300,000	7.64%
GEOTORM INV LTD	7,500,000	6.16%
MERRILL LYNCH AUST NOM PL	6,250,000	5.13%

Most Recent Statement

23/12/08 - Remaining assays for Emerald and Princess Targets received
03/12/08 - Shallow gold mineralisation confirmed at Marquise Target
01/12/08 - Initial Gold Results From The Company`s Radiant Target
01/12/08 - Initial Gold Results From The Company`s Radiant Target
27/11/08 - Turk Target Near Surface Mineralisation Confirmed
20/11/08 - Results of Annual General Meeting

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