Scandinavian Resources Limited

Hannans:Extension of Off-Market Takeover Offer Period

Hannans Reward Limted (Hannans) has today announced that it holds a relevant interest of c.92.9% in Scandinavian Resources Ltd (SCR) under its off-market takeover offer for all of the ordinary shares in SCR (Offer).

As outlined in Hannans Bidder's Statement dated 20 March 2012, Hannans intends to proceed with compulsory acquisition given it holds a relevant interest of at least 90% of the issued shares in SCR.

Hannans will provide an opportunity to all remaining SCR Shareholders to accept the Offer by extending the Offer close date to 28 May 2012.

Hannans - Takeover offer for SCR declared unconditional

Hannans Reward Limited (Hannans) has today announced that it has declared its off-market takeover offer for all of the ordinary shares in Scandinavian Resources Ltd (SCR)free from all defeating conditions. Accordingly, the takeover offer is now unconditional.

Hannans’ offer is expected to close at 5.00pm (Perth time) on 18 May 2012. Accordingly,Hannans urges all SCR shareholders who have not yet accepted the offer to accept as soon as possible.

Supplementary Target Statement

This document consists of:

EXTENSION OF OFFER PERIOD
EXERCISE OF SCANDINAVIAN RESOURCES OPTIONS

3rd Quarter Activities Report

KIRUNA IRON PROJECT

Diamond drilling at Rakkurijoki re-commenced in March 2012

PRECIOUS & BASE METALS PIPELINE

New REE-prospective claims applied for in Finnmark, Norway
New Au-Cu-Ag claims applied for in Troms, Norway

CORPORATE UPDATE

Scandinavian Resources Ltd the subject of take-over action by Hannans Reward Ltd.

HNR: Extension of Off-Market Takeover Offer Period

Hannans Reward Limited (ACN 099 862 129) (Hannans) has today announced that it has extended its off-market takeover offer for all of the ordinary shares that it does not already own in Scandinavian Resources Ltd (ACN 132 035 842) (SCR) so that the offer will now close at 5.00pm (Perth time) on 18 May 2012.

A copy of the formal notice of variation, together with an accompanying letter to be
sent to SCR shareholders, is attached.

SCR Target's Statement

RMG Presentation (Magnus Ericsson) in Perth - March 2012

Hannans Offer Takeover Comments

Takeover Offer Comments

HighGrade: Nordic Nations Lead Europe (by Chris Cann)

Shareholders are advised to take no action

The Board of Scandinavian Resources Ltd (ASX: SCR) acknowledges receipt of the Bidder’s Statement from Hannans Reward Ltd (ASX:HNR) (Hannans).

Shareholders are advised to take no action until they receive the Target’s Response which is expected to be lodged on 30 March 2012 and mailed to all Shareholders shortly thereafter.

The Target’s Response will outline the Board’s recommendations in relation to the Hannans offer and therefore Shareholder’s should wait to consider the Target’s Response before making any decisions

Hannans Bidder's Statement for Scandinavian Resources Ltd

We attach, by way of service pursuant to section 633(1) item 5 of the Corporations Act 2001 (Cth) (Corporations Act), a copy of Hannans Reward Ltd’s bidder’s statement in relation to its off-market takeover offer for all the outstanding fully paid ordinary shares in Scandinavian Resources Ltd (SCR).

The bidder’s statement has been lodged with the Australian Securities and Investments Commission and has been served on Scandinavian Resources Ltd.

Hannans Takeover offer supported by Scandinavian Resources shareholders

Financial Report for the Half Year ended 31 December 2011

Presentations to Shareholders

Scandinavian Resources Ltd (ASX: SCR) is pleased to provide an opportunity for shareholders, stockbrokers and interested persons to attend a series of Presentations to be held in Perth, Melbourne and Sydney commencing Monday, 2 April 2012.

Date	Time	Venue
PERTH
Mon, 2 April	1pm	Scandinavian Resources 6 Outram Street, West Perth
MELBOURNE
Tue, 3 April	1pm	Patersons Securities Level 15, 333 Collins Street, Melbourne
SYDNEY
Wed, 4 April	1pm	Patersons Securities Level 48, Australia Square 264 George Street, Sydney

In addition to the above presentations, stockbrokers are welcome to contact Ms Mindy Ong, on +61 8 9324 1153 to arrange alternative meeting times.