Completion of Smelter Disposal

Weatherly International Plc ('Weatherly' or the 'Company')

Completion of Smelter Disposal

Further to the announcement on 11 March 2010, the Company announces that Dundee Precious Metals Inc ('Dundee') has waived the requirement for the approval of the holders of the Company's outstanding convertible loan notes to the sale of Namibia Custom Smelters Pty Limited and the transfer of certain associated assets (the 'Disposal').

As previously announced, Weatherly shareholders have approved the Disposal and all conditions precedent to the completion of the Disposal have now been either satisfied or waived and the Disposal has been completed.

The Company is progressing with the process to create distributable reserves to facilitate the special in specie distribution of certain of the consideration shares in Dundee to shareholders. The Company today issued 445,893,427 B Shares by way of capitalisation of its merger reserve and immediately repurchased them for the aggregate sum of 1p. This repurchase was financed (as is required by the Companies Act 2006 and the Company having no distributable reserves) by the issue of 1 new ordinary share to Rod Webster at a price of 3p. As a result of these transactions the Company's capital redemption reserve stands at US$18,925,382, the amount which shareholders have approved for cancellation pursuant to the resolution passed at the general meeting held on 11 March 2010, which is subject to approval by the High Court on 31 March 2010. As a result of these transactions Mr Webster's interests in the share capital of the Company increases by 1 ordinary share to 27,343,801, his percentage interest remains unchanged at 6.13%. Application has been made to AIM for the ordinary share to be admitted to trading, admission is expect to take place on 30 March 2010.

The new denominator for the purposes of notifying interests in the Company's shares should now be taken as 445,893,428.

For further information please contact:

Rod Webster, Chief Executive Officer Weatherly International Plc

+44 (0) 20 7917 2989

Richard Greenfield, Ambrian Partners Limited

+44 (0) 20 7634 4710