SO4.L Regulatory News (SO4)

The Board of Wildhorse Energy Limited ('the Company') presents its September 2014 quarterly report, where the focus continued on restructuring the Company, its Board and ongoing operations with a view to substantially reducing costs and placing the Company in an improved position to progress its remaining project and to pursue new opportunities.

Highlights during, and subsequent to, the quarter were as follows:

· Operational -the Company has decided to focus on its Golden Eagle Uranium project in the US and will cease all operational and administration functions in Hungary, thereby eliminating all ongoing cash outflows associated with the Hungarian operations. The Company will also continue to pursue new opportunities.

· Board Changes- effective 29 August 2014 Mr Ian Middlemas, (previously a Non-Executive Director) was appointed as Chairman of the Company while outgoing Chairman, Mr Mark Hohnen, has remained on the Board as a Non-Executive Director. Further, as part of the restructure of the Company and the Board, Mr Matthew Swinney has resigned as Managing Director and Messrs James Strauss, Brett Mitchell and Konrad Wetzker have all resigned as Non- Executive Directors of the Company. Mr Mark Pearce joined the Board as a Non-Executive Director.

· Share Consolidation - the Company is seeking shareholder approval at the upcoming Annual General Meeting on Tuesday 25 November, for a 1 for 30 consolidation of shares, thereby reducing the number of shares on issue to approximately 13.6 million. The number of options on issue will also be consolidated on a 1 for 30 basis, with the exercise price of the options increasing in inverse proportion to the consolidation ratio ("Consolidation").

· Entitlement Issue -following completion of the Consolidation, the Company will undertake a 5 for 1 pro rata renounceable entitlements issue to raise up to approximately $3.8 million before costs.

The Board is confident that following the recent cost cutting measures and ongoing company restructure, which had already significantly reduced the Company's operating and administrative expenses, the funds raised from the Entitlements Issue will enable the Company to progress the Company's current projects and pursue new opportunities in the resource and other sectors. 

OPERATIONS

Golden Eagle Uranium and Vanadium Project

The Golden Eagle Uranium and Vanadium Project holds nine U.S. Department of Energy (DOE) Uranium/Vanadium Mining Leases, covering 22.7 km2 located in the Uravan Mineral Belt, Colorado USA.

Technical reports for a number of the leases have been drafted based on historic data, however, exploration drilling and core analysis need to be completed in order to finalise these reports. The leases will expire eight years after the courts complete their review of the Record of Decision (ROD) published this past spring in the Federal Register and the DOE allows the lease holders to resume activates on their leases.

It should be noted that the leases can be held beyond their expiration through continued renewals and the continuation of lease maintenance, including exploration work and future production. Historically these DOE leases have been renewed for 10 year periods after the expiration date; existing leases issued to past Lessee's have been renewed dating back to 1974.

Wildhorse also possess an option on Gold Eagle Mining Inc (GEMI) leases; GEMI has three DOE properties of which two have active operating permits.

Mecsek Hills Uranium Project

The Board has resolved not to proceed with the potential Joint Venture between the Company, Mecsekérc, and Hungarian Electricity Ltd for this project due to the lack of tangible progress and high operational costs to date. The Company is looking to immediately divest of the project without incurring any further costs.

Mecsek Hills UCG Project

No recent development activities have been undertaken on this project and a number of unsuccessful attempts have been made to divest all or part of the Company's interest in this project. The Board has now resolved to formally cease all activities immediately which will result in the associated mineral interests terminating.

CORPORATE

Share Consolidation

As notified in the Notice of Annual General Meeting to be held on Tuesday 25 November 2014, the Company is seeking shareholder approval for a 1 for 30 consolidation of shares, thereby reducing the number of shares on issue to approximately 13.6 million. The number of options on issue will also be consolidated on a 1 for 30 basis, with the exercise price of the options increasing in inverse proportion to the consolidation ratio ("Consolidation").

Entitlements Issue

Following completion of the Consolidation, the Company will undertake a 5 for 1 pro rata renounceable entitlements issue to raise up to approximately $3.8 million before costs. Eligible shareholders will be entitled to acquire five (5) new ordinary shares ("New Shares") for every ordinary share held at the record date (to be determined). New Shares under the Entitlements Issue will be offered at A$0.05 per share (on a post Consolidation basis). The rights under the Entitlements Issue are renounceable meaning eligible shareholders will be able to buy and sell their rights on the ASX. The Company is not seeking admission of the rights to trading on AIM.

The Entitlements Issue will raise approximately AU$3.8 million which will be used to enable the Company to pursue new opportunities in the resource and other sectors and to progress the Company's current projects.

Further information on the Entitlement issues and the prospectus will be released shortly.

Summary of Exploration and Mining Tenements

As at 30 September 2014, the Company holds the following interests in the listed tenements:

* Refer to the Company's Announcement on 28 October 2014 regarding an update on the Company's restructure.

For further information please visit www.wildhorse.com.au or contact: