FIN RESOURCES LIMITED — Capital/Financing Update 2010

Dec 5, 2010

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6[th] December 2010

Drilling Doubles the Extent of Uranium Mineralisation at Kashkasu II

Highlights:

• New drilling has doubled the previously known strike extent of the mineralisation

• Uranium mineralisation now extends over more than 2.6km

• Individual samples up to 1m @ 884 ppm U3O8

• New drill hole intersections up to 3m @ 538 ppm U3O8

• Confirms multiple zones of mineralised coal and sandstone

• Mineralisation still open along strike and down dip

The Directors of Raisama Limited (“Raisama”) (ASX:RAI) and joint venture partner Monitor Energy Limited (ASX:MHL) are pleased to announce that high grade uranium intersections from a new, three hole reconnaissance drilling program, have significantly extended the strike extent of Raisama’s Kashkasu II uranium discovery in the Kyrgyz Republic. Mineralisation has now been successfully intersected over a strike extend of more than 2.6km.

The best intersections from the drilling included 3m @ 538 ppm U3O8 and 2m @ 477 ppm U3O8 from drill hole EKD09. Drill hole MD03 collared more than 750m north‐west of previous drilling intersected shallow uranium mineralisation including 3m @ 358 ppm U3O8 and 3m @ 196 ppm U3O8. Drill hole MD04 drilled a further 580m north‐west intersected weak uranium mineralisation. Both of these holes are in an area of thin colluvium cover and thus represent significant results. This is an excellent result from regional reconnaissance drilling and significantly increases the upside potential of the project. The mineralisation remains open to the North West (Figure 1) and down dip.

Another strong positive is the continued indication of multiple zones of coal and sandstone hosted uranium mineralisation at Kashkasu II. This has the potential to add significant upside to the uranium potential of the deposit. The mineralisation is striking parallel with stratigraphy, North West to South East and is open along strike and down dip.

Raisama Managing Director, David Berrie, said “These new drilling results are excellent and have significantly increased the strike and thus the uranium potential at Kashkasu II. This has strengthened our view on the future potential at Kashkasu II with our aim to define a JORC compliant resource in 2011. Our drilling, in all three programs, has returned very exciting results confirming the presence of high‐grade uranium mineralisation in a number of horizons. These results will definitely warrant increased work in 2011. Our exploration team is currently planning a program of drilling and trenching to hit this project hard in the new year.”

Raisama Limited ABN 79 131 843 868

19 Richardson Street West Perth WA 6005 PO Box 1255 West Perth WA 6872 t +61 8 9322 7702 f +61 8 9322 7705 e info@raisama.com.au w www.raisama.com.au

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Raisama owns 75% of the Kashkasu II Project with Monitor Energy Limited holding a 22.5% interest. The Kashkasu II project consists of two licences covering an area of approximately 50km[2] . Uranium was mined and processed from 1950‐1961 to the east of the current licence area.

The third phase of drilling at Kashkasu II comprised three diamond drill holes for a total of 362 meters. The following table summarises all of the drilling results received to‐date in relation to the Company’s phase 3 diamond drilling program that was completed at Kashkasu II in November 2010. The table shows all drill intercepts that returned assay results greater than 100ppm (0.01%) U3O8.

Hole #	Down Hole Intercept	From Depth (Down Hole)
	8m @ 289 ppm U3O8	98m
	*Including 3m @ 538 ppm U3O8	101m
	2m @ 477 ppm U3O8	84m
	1m @ 495 ppm U3O8	71m
MD03	3m @ 358 ppm U3O8	82m
	3m @ 196 ppm U3O8	66m
MD04	1m @ 118 ppm U3O8	48m

Table 1: Summary of all drill results from phase 3 drilling at Kashkasu II

The highest individual assay value in the latest drilling were intersected in EKD09, with 884 ppm U3O8 at 102‐103 metres.

The local stratigraphy is interpreted to be a series of Jurassic sandstones, siltstones and coal bearing beds forming part of the northern limb of a regional syncline.

These drilling results extend the strike continuation of uranium mineralisation under shallow cover and confirm the mineralisation continues at depth. Uranium is present both in sandstone and coal‐bearing beds and is supported by recent surface geochemical sampling in trenches located along strike of the completed drilling programme.

The results of Raisama’s recent exploration work are extremely encouraging, have significantly extended the strike of the mineralisation and have highlighted the potential of the Kashkasu II project area to host uranium mineralisation in multiple horizons. Stratigraphic interpretation has also highlighted the potential for additional zones of mineralisation to be present due to folding and possible thrust faulting of the mineralised stratigraphy.

The Company is currently planning its exploration program for 2011. Emphasis will be placed on defining the strike limits to the mineralisation and defining a JORC compliant resource in 2011. Additional exploration will also be done to better define new targets within the tenement package.

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Figure 1: New Kashkasu Drilling Results and Drill Hole Locations on Surface Geology

Summary of drill results

The table shows all drill hole locations from the phase three drilling campaign.

Drill hole ID	Easting (m)	Northing (m)	Azimuth	Dip	EOH Depth (m)
EKD09	452853	4615853	200	-60	119.5
MD03	452245	4616372	210	-60	120
MD04	451721	4616681	210	-60	122.5

Table 2: Summary of Phase 3 Diamond Drill Hole Details at Kashkasu II Project

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Notes:

1. * denotes a high grade intercept as a component of the above intercept.

2. Drilling was undertaken utilising a skid mounted continuous core, wire line diamond drill rig.

3. Standard HQ and NQ core was collected at continuous intervals with overall core recovery >90%.

4. Diamond drill samples are collected over 1m intervals based on standard representative sampling techniques.

5. All diamond core samples were split as half core.

6. Sample preparation and sample analysis by pressed pellet XRF through Information Research Centre (JRC) laboratory, UKAS Testing accredited N° 4431, lab n° 1622, ISO/IEC 17025:2005, Schedule of Accreditation n° 016 of 06 June 2009). The JCR Laboratory is located in Kara Balta, approximately 70 km west of Bishkek.

7. Drill intercepts are calculated using a 100 ppm U3O8 cut‐off and include no more than 1m of internal dilution by material <100 ppm U3O8.

8. An accurate dip and strike of the mineralisation is yet to be determined and the true width of the intercepts is not yet known.

9. Metals values (U) have been expressed as parts per million (PPM) U3O8 converted to oxide values using a factor of 1.179 and rounded to zero decimal places.

10. PPM (parts per million).

11. Co‐ordinates are in UTM grid (WGS84 Z43) and have been measured by hand‐held GPS.

12. Detailed geological logging and radiometric profiling (using a hand‐held scintillometer on drill core) is undertaken for all drill holes.

13. The scintillometer used is a Ludlum model 2401‐P.

The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Waugh. Mr Waugh is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a member of the Australian Institute of Geoscientists (AIG). Mr Waugh is a full‐time employee of Raisama Limited. Mr Waugh has sufficient industry experience to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Waugh consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

For more information contact:

David Berrie – Managing Director, Raisama Ltd Telephone: (+61 8) 9322 7702 Mobile: (+61) 418 980 289 Media inquires Ian Howarth – Collins Street Media Mobile: (+61) 407 822 319

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Background

Listed on the ASX in December 2009, Raisama (ASX:RAI) is an emerging uranium exploration and development company with interests in Australia and the Kyrgyz Republic. Raisama’s uranium assets in Australia include five projects in Western Australia and one project in South Australia. In the Kyrgyz Republic Raisama owns 75% of the Kashkasu II Project.

Raisama received strong support for its $12.25m IPO from a wide mix of institutional, sophisticated and experienced resources sector and retail investors. The IPO was supported by China’s state‐owned mining company Hebei Mining which, following the IPO, holds a 10.9% stake in the company.

Raisama’s portfolio includes the 100% owned Sunday Creek project, located within the uranium prospective Paterson Orogen of Western Australia. It is located approximately 20km east of the Kintyre uranium deposit, sold by Rio Tinto to Canada's Cameco and Japan's Mitsubishi for US$500 million in 2008. Cameco and Mitsubishi are currently drilling at the Kintyre deposit with a view to fast tracking the mine’s development.

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