Tschudi Mine Feasibility Study Awarded to Sedgman

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

Tschudi Mine Feasibility Study Awarded to Sedgman

Weatherly today announces that it has appointed Sedgman Limited ('Sedgman'), an Australian metals engineering company to manage the first stage of the feasibility study for its Tschudi open pit project.

Metallurgical testwork, which is the primary focus of Stage 1, will be carried at AMDEL Ltd's laboratories in Perth (Australia) and is expected to be completed by August 2010. Based on the results, an appropriate processing route will be chosen and the full feasibility study will commence. The final study is expected to be completed by the end of 2010. Subject to a positive outcome and funding, construction could proceed soon thereafter. Environmental approval for an open pit at Tschudi was granted in 2003.

Previous metallurgical work carried out by both Gold Fields Limited ('Gold Fields') and Weatherly has demonstrated that the mineralisation responds well to both acid leaching and conventional flotation (see Note 1). Broadly speaking, two alternative processing routes will be evaluated.

The first processing route under consideration is to heap leach the entire orebody to produce either an intermediate product (copper sulphate) or a final copper cathode. Based on historical testwork by Gold Fields this would result in an average annual recovery of around 11,000t of copper over a life of ten years.

The second alternative is to heap leach the low grade component of the orebody (approximately 0.6% Cu) and truck a higher grade component (approximately 1.2% Cu) to the existing Tsumeb concentrator. The additional trucking cost would be offset by higher copper recoveries and the recovery of the silver as a by-product. Based on the Goldfields work and Weatherly's own recent experience, this would increase annual production to approximately 13,000t of copper and 280,000oz of silver over a ten year life.

ABOUT THE TSCHUDI OPEN PIT PROJECT 

The Tschudi orebody is located approx 20km due west of Tsumeb in northern Namibia. Weatherly completed drilling work at the deposit in 2008 culminating in a final resource report by international consultants Coffey Mining in October 2009. (Previously announced 14 October, 2009)

Coffey estimated that the deposit contained a measured and indicated resource (JORC compliant) of 43mt at 0.8%Cu and 11g/t Ag , and an open pitable resource to a depth of 180m of 25mt at 0.9% Cu and 11g/t Ag. In November, 2009 Coffey carried out an initial pit optimisation study and reported that a number of viable pit shells existed depending on the process route and the price assumptions at the time. One of the pits (pit shell 16) chosen contained a potential fully diluted reserve of 19mt at 0.8% Cu and 9g/t Ag at a stripping ratio of 5.7/1. (Previously announced 17 December, 2009)

Note 1

'Recovery of Copper from Tschudi Ore Deposit' Report No Tsumeb 11 (R Haegele) September 11, 1995 - not verified by Weatherly

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