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RAND MINING LIMITED Interim / Quarterly Report 2012

Sep 16, 2012

65721_rns_2012-09-16_671ca9e8-6017-4ef2-a68c-59cee12ecd5e.pdf

Interim / Quarterly Report

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September 17, 2012

The Listing Manager Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2

EKJV EXPLORATION RESULTS

Please find attached exploration report for the June quarter.

Yours faithfully Rand Mining Ltd

A Billis Director

ACN 139 342 859

16 September 2012

Mr Anton Billis Director Rand Mining Ltd PO Box 307 West Perth WA 6872

Dear Anton

RE EKJV Exploration Results – June Quarter 2012

As you requested, I have reviewed the Barrick report "Quarterly Exploration Report: June 2012 EKJV Quarterly Activity". The attached report is an extract from the Barrick report suitable for release.

Yours sincerely

Matthew Sullivan B.App.SC., M.Aus.I.M.M

Competency Statement

The information in this report relation to Exploration Results and Mineral Resources is based on information reviewed by Mr Matthew Sullivan who is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves'. Mr Sullivan is a consultant working for Rand Mining and consents to the inclusion of the matters based on his information in the form and context in which it appears.

Quarterly Exploration Report: June 2012 EKJV Quarterly Activity

Summary

This report provides a quarterly report on work conducted by Barrick Kanowna on the East Kundana Joint Venture (EKJV). The EKJV is a joint venture between Barrick Gold subsidiary company Gilt-Edge Mining NL(GEM) and Rand Mining Ltd and Tribune Resources Ltd.

Work was conducted on two prospects within the EKJV. They were:

Pegasus, and

Raleigh Corridor.

At the Pegasus prospect a resource development drill program as well as two exploration drill programmes and a condemnation programme all commenced. At the Raleigh Corridor target area an exploration drill program commenced.

Pegasus

The second quarter of 2012 saw a substantial amount of drilling take place at the Pegasus deposit to infill existing drill data in the near surface mineralisation adding to the work completed in quarter 1, as well as down dip, exploring for depth potential.

Four drill programmes consisting of 44 drill holes were approved for the Pegasus deposit following on from positive outcomes achieved in quarter one of 2012. Objectives for the drill programmes included the completion of the infill drilling of the high grade core of the Pegasus deposit (Resource Programme), depth testing of the K2 structure (Pegasus K2 Deeps Programme), infilling between the deeper drilling and the optimised pit (Pegasus Down Dip Drilling Programme) and a condemnation programme of an area for the proposed waste dump.

The drilling of the 44 holes consisted of 2,627.1m of Reverse Circulation drilling and 1,789.6m of Diamond drilling.

Drilling

Pegasus Resource Programme

This drilling programme was completed in April. The RC drilling involved 3 holes totalling 360m. The diamond drilling component of the programme involved one hole for 250.8m.

Results for this are tabled below (Table 1).

Pegasus K2 Deeps Programme

This drilling programme was also completed in April. Two RC pre-collars were completed totalling 327m. Four diamond drill tails totalling 1,050.4m finalised the programme in late April.

Results for this are tabled below (Table 1).

Pegasus Down Dip Drilling Programme

This drill programme began in May. The RC component included 13 drill holes for 2,994m and was completed in June. Three diamond holes of the programme were drilled in June for a total of 1,283.1m.

Results for this are tabled below (Table 1 & 2).

Condemnation Drilling

This programme started in June with 18 of the planned 34 holes drilled for 1,800m.

Results

Results for the Pegasus drilling in the second quarter of 2012 have been very encouraging. Table 1 includes all results which have been fully verified and have passed the Barrick quality assurance and quality control procedure.

The drilling has increased the known economic mineralisation down dip below the currently optimised pit by 300m and has increased the strike length to greater than 600m*.* The drilling has also identified that the K2B structure can also host a considerable quantity of gold, although not as continuous or as consistent as the K2.

The more significant intervals drilled during the quarter are listed below:

PGRC12004A 5.0m @ 14.4 g/t Au from 114.0m
PGRC12005 17.0m @ 8.91 g/t Au from 136.0m
PGRC12007 7.0m @ 28.8 g/t Au from 96.0m
PGCD12013A 4.5m @ 9.27 g/t Au from 290.2m
PGCD12014 4.8m @ 10.5 g/t Au from 245.2m
PGRC12029 3.0m @ 10.5 g/t Au from 58.0m
PGRC12050 7.0m @ 6.11 g/t Au from 214.0m
PGRC12051 8.0m @ 12.0 g/t Au from 259.0m
PGDC12017 4.0m @ 46.0 g/t Au from 195.0m and
8.9m @ 13.5 g/t Au from 213.0m

The condemnation drilling is progressing well and has to date received no intersections of any concern.

Raleigh Corridor

The second quarter of 2012 saw the completion of an exploration drill program to identify high grade vein mineralisation along the highly prospective Strzelecki Fault Zone (SFZ). The SFZ is a strike continuous structure and hosts the 1MOz+ Raliegh and Strzlecki Deposits. The objective of this programme was to test this structure to the south of the Raleigh Deposit over a strike length of 2km. The SFZ has been a target of historic exploration, however previous drilling has rarely tested 100m below surface and ignoring the potential for a "blind shoot". Special attention was given to the historical Golden Hind target where previous drilling intersected sub-economic mineralisation. The program consisted of two parts. Ten reverse circulation (RC) drill holes were completed at between 150 – 250m drill spacing along strike testing the SFZ at approximately 120m below surface. Five diamond drill (DD) holes were completed down-dip and along strike from existing intercepts at the Golden Hind target at approximately 80m drill spacing.

Drilling

RC Program

All 10 RC drill holes planned were completed for a total of 1806m RC drilling. After reviewing the geology it was observed that 4 drill holes RRRC0001, RRRC0008, RRRC0009 and RRRC0010 had not reached the target SFZ, so NQ2 diameter diamond tails were added to these holes. A total of 390.9m of diamond drilling was completed for the tails.

For the RC drilling, all drilling was sampled using 4m composite sampling. Any intervals reporting a composite assay greater than 0.2ppm Au were identified and 1m split samples for these intervals where submitted for analysis. Following receipt of assays for the 1m split samples, screen fire assays were performed on the coarse bulk residue of selected samples, following the observation of course gold in diamond drill hole RRCD0002.

Significant results to date are summarised in the table 3 below.

DD Program

A program of 5 DD drill holes were planned to test down-dip and along strike from previous sub-economic intercepts at the Golden Hind target. All holes had 150m RC pre-collars, with NQ2 diameter DD tails. Following the intercept of spectacular visible gold in drill hole RRCD0002, two additional diamond drill holes were added to the program, and where completed as HQ/NQ2 diameter DD from surface. A total of 750m RC drilling and 1469.8 DD drilling was completed for this program.

All drill holes intersected the SFZ. The SFZ typically manifests as a small (0.1 – 0.4m) wide pug zone at the contact between fine grained silicious sediments and the footwall intermediate volcanoclastic sequence within a wider (up to 5m wide) zone of broken ground and shearing. Laminated quartz veining was observed in drill holes RRCD0002 and RRCD0007.

Results

The 2012 Raleigh Corridor drilling has confirmed the presence of mineralisation on the SFZ to the south of the Raleigh deposit. The location of the SFZ is different to Raleigh, where the fine grained siliceous sediments are usually thin or absent, and the SFZ is considered to occupy the position between the Powder Sill Gabbro and the Footwall Volcanoclastic sediments.

For the Golden Hind target, the spectacular mineralisation encountered in RRCD0002 (0.75m @ 1341g/t Au) is similar to the style of mineralisation encountered at the Raleigh and Strzlecki deposits. Drill hole RRCD0007 was drilled approximately 80m down dip from RRCD0002 and intersected a 0.4m wide laminated vein. The screen fire assay of 0 [email protected]/t for RRCD0007 is within expectations given the nuggety nature of mineralisation. Assays for the SFZ in RRCD0001, RRCD0003, RRCD0005 and RRCD0006 are anticipated in mid-August.

A preliminary investigation of the geology indicates there is a flexure in the orientation of the SFZ associated with the Golden Hind shoot. Once all assay results have been received a full interpretation will be conducted to determine if there is a potentially economic shoot at Golden Hind.

Results from the RC component of the program (in particular RRRC0004 – RRRC0007) have identified mineralisation in an area previously thought to be barren. Previous drilling down dip of these holes (WWRD001 to WWRD003 ) did not identify any significant assay results, however, the fine grained sediment/intermediate volcanoclastic sediment contact does not appear to have been sampled. It is planned to retrieve these holes to confirm if the SFZ has been sampled, and if not, samples for the SFZ will be submitted for assay.

HoleID Eats Nohtr RL Azimhtu Dip H DeEOhtp From ()m To()m H WDidht Grdea()/Autg LodeCode TrueWh (idt)0.2m± Cotmmen
PGRC12001 333196 6597976 344 61 -60 127 104.0 106.0 2.0 2.08 K2 1.4
GCPR12002 333179 6597966 344 61 -60 160 126.0 130.0 4.0 1.23 K2 2.8
PGRC200A14 333177 9806511 344 61 0-6 145 0114. 9.011 05. 14.4 K2 3.6
PGRC12005 333159 6598001 344 61 -60 180 136.0 153.0 17.0 8.91 K2 12.0
GCPR12006 333142 6597992 344 61 -60 192 165.0 173.0 8.0 12.4 K2 5.6
PGRC12007 333165 6598054 344 61 -60 140 96.0 103.0 7.0 28.8 K2 5.0
GPDD12008 333147 6598044 344 61 -60 171 122.0 125.0 3.0 10.8 K2 2.2
PGRC12009 333130 6598034 344 61 -60 199 155.0 157.0 2.0 7.58 K2 1.4
PGDD12010 333169 6597851 343 61 -60 151.9 152.7 0.7 13.7 K2 0.6
GCPD12011 333391 9926571 334 61 -60 306 9.170 82.10 3.0 2.75 K2B 2.2
223.0 225.0 2.0 2.93 K2 1.4
PGCD12012 333091 6597939 343 61 -61 295.5 13.0 14.0 1.0 1.60 Supergene 0.6
208.9 209.6 0.7 2.47 K2B 0.6
272.7 274.6 1.9 15.4 K2 1.4
GCPD12013A 333304 9965764 344 61 -60 354 29.15 222.5 3.0 91.1 K2B 2.2
290.2 294.7 4.5 9.27 K2 3.2
333050 6598013 346 61 -60 265.3 174.0 178.0 4.0 3.97 K2B 2.8
PGCD12014 245.2 250.0 4.8 10.5 K2 3.4
inclu ding 245.2 247.3 2.1 22.1 K2 1.4
PGCD20911 333025 9806516 345 61 0-6 816 3.317 175.7 2.4 2.38 K2 1.6
PGRC12021 333077 6598189 345 61 -60 110 92.0 95.0 3.0 14.1 K2 2.2
PGRC12022 333095 6598199 345 61 -60 90 67.0 72.0 5.0 5.02 K2 3.6
PGRC12024 333058 6598224 345 61 -60 108 79.0 87.0 8.0 1.53 K2 5.6
PGRC12025 333075 6598234 345 61 -60 80 16.0 19.0 3.0 3.18 Supergene 2.2
2.06 064. 2.0 2.94 K2 1.4
PGRC12026 333093 6598244 345 61 -60 60 18.0 20.0 2.0 3.28 Supergene 1.4
36.0 38.0 2.0 3.17 K2 1.4
PGRC22107 333021 6598249 345 61 -60 102 105.0 106.0 1.0 3.51 K2 0.8
113.0 114.0 1.0 12.2 K2 0.8
PGRC12028 333038 6598259 345 61 -60 100 37.0 38.0 1.0 1.45 Supergene 0.8
82.0 84.0 2.0 10.9 K2 1.4

Table 1. Pegasus Final results. QAQC verified.

HoleID Eats Nohtr RL Azimhtu Dip H DeEOhtp From ()m To()m H WDidht Grdea()/tAug LodeCode TrueWh (idt)0.2m± Cotmmen
PGRC20291 333056 9829656 345 61 0-6 75 8.05 061. 3.0 0.15 K2 2.2
PGRC12030 333073 6598278 345 61 -60 50 23.0 24.0 1.0 1.50 Supergene 0.8
32.0 34.0 2.0 6.74 K2 1.4
PGRC12031 333019 6598294 345 61 -60 102 81.0 85.0 4.0 4.76 K2 2.8
GCPR12032 333003 6598285 345 61 -60 120 93.0 95.0 2.0 2.38 K2 1.4
PGRC20331 332990 9832654 345 61 0-6 96 904. 906. 2.0 2.81 K2 1.4 K2 wllinlcaiclasicfoolltottwaevon
PGRC12034 332973 6598314 345 61 -60 150 121.0 123.0 2.0 10.1 K2 1.4
PGRC23105 333800 9833654 345 61 -60 85 57.0 64.0 7.0 36.0 K2 5.0
PGRC12036 333025 6598343 345 61 -60 55 37.0 39.0 2.0 3.56 K2 1.4
PGRC12037 332963 6598332 344 61 -60 17.0 19.0 2.0 1.31 Supergene 1.4
118.0 119.0 1.0 1.48 K2 0.8
PGRC12038 332988 6598369 345 61 -60 84 19.0 20.0 1.0 6.23 Supergene 0.8
9.50 61.0 2.0 2.38 K2 1.4
PGRC20391 332971 6598359 345 61 -60 62.0 71.0 9.0 3.19 K2B 6.4
89.0 93.0 4.0 7.48 K2 2.8
PGRC12040 332953 6598349 345 61 -60 124.0 126.0 2.0 8.76 K2 1.4
PGDD12009 332876 6598048 343 61 -60 426 246.2 250.0 3.8 3.02 K2B 2.8
393.6 397.7 4.1 35.1 K2 3.0
PGRC12041 333067 6597880 343 61 -60 337.9 268.0 269.0 1.0 8.20 K2B 0.6
299.2 306.4 7.2 1.49 K2 5.2
PGCD22104 333011 6597849 343 61 -60 450 332.0 339.5 7.5 1.85 K2B 5.4 /Include1.26m8.19gfro332.04mt@sm
413.2 420.9 7.7 4.91 K2 5.4
GCPD12043 332997 6597932 343 61 -60 408 371.0 394.0 23.0 0.39 K2 16.2 ThinK2 vinsBrahedhrohottencuguShaled adjtbalt ad cdanacensanrossebyliplehinficinivetttrumumas
PGCD12044A 332958 6597910 343 58 -57 400.0 401.2 1.2 1.72 K2B 0.8
516.4 517.4 1.0 30.4 K2 80.
PGCD1204A5 333011 6598032 345 61 -60 145 190.0 192.0 2.0 1.28 K2B 1.4
273.0 276.0 3.0 1.19 K2 2.2
PGCD12046B 833295 8659002 345 51 -63 197 233.0 256.0 23.0 82.6 KB2 15.4 Include0.53m9.86g/fro234.3mt@smd/fro3.7m10.7gt251m@anm
337.9 339.6 1.7 7.25 K2 1.2
350.0 352.0 2.0 4.34 K2Fotwallo 1.4
HoleID Eats Nothr RL Azimthu Dip OH DeEhtp From ()m To()m H WDidht Grdea(/)Autg LodeCode TrueWh (idt)0.2m± Cotmmen
PGRC12049A 333131 6597876 343 61 -55 246 153.0 154.0 1.0 0.09 K2B 0.8 K2B nt minelisedora
204.0 205.0 1.0 2.85 K2 0.8
GC 333118 6597950 343 61 -65 252 159.0 161.0 2.0 7.01 K2B 1.2
PR21050 214.0 221.0 7.0 6.11 K2 4.4
GCPR12051 333065 6995777 343 61 -60 300 1807. 192.0 05. 1.23 K2B 3.6
259.0 267.0 8.0 12.0 K2 5.6
GCPR12052 333004 6598123 344 61 -60 264 119.0 121.0 2.0 3.51 KB2 1.4
220.0 222.0 2.0 15.0 K2 1.4
PGRC12053 332961 6598198 344 61 -60 252 80.0 86.0 6.0 1.71 K2B 4.2
188.0 192.0 4.0 2.92 K2 2.8
PGRC12056 332880 6598323 344 61 -60 252 215.0 219.0 4.0 2.78 K2 2.8
PGRC20157 332807 9865416 345 61 0-6 921 0165. 0166. 01. 1.56 K2 0.8
PGRC12058 332838 6598396 344 61 -60 246 218.0 221.0 3.0 0.38 K2 2.2

Table 2. Final Fire Assay results, screen fire assays pending.

HoleID Eats Nohtr RL Azimt hu Dip H DeEOhtp From ()m To()m H WDidht Grdea()/tAug LodeCode TrueWh (idt)0.2m± Cotmmen
GCPD12015 333065 9808656 394 61 0-6 238.2 8.117 20.91 2.2 94.6 K2B 1.6 Scfiredingreenassays pen
196.7 198.6 1.9 2.84 K2 1.4
333041 6598100 346 61 -60 240 195.0 199.0 4.0 46 2.8 ingll vein –SK2HaF75ngwa
PGCD12017 213.0 221.9 8.9 13.5 6.2 K2fooll veinRelis aiftwattesucomposo-fired sfire50gassays ancreenassaysih sSF75 rfhighedettswomeepeaor graill pdingtstparsen
332876 6598048 343 61 -65 290.0 291.0 1.0 2.62 K2B 0.6
PGCD12048 463.0 468.0 5.0 2.29 K2 3.2 Scfiredingreenassas peny
492.0 493.0 1.0 2.42 K2Folltwaoinve 0.6
leHoID Eats hNotr RL iAz ipD H DeEOhtp From ()m To()m Len ght Grdea()/tg Code Cotmmen
RRRC2000 332997 9386567 340 172.0 173.0 1.0 3.03 ()Scirelire/FAsRetF1m2.52gt@reensaysuassay
66 -65 204 175.0 176.0 1.0 1.90
CRRR0003 332605 6597285 342 66 -65 174 178.0 150.0 2.0 0.54 ireFAssay
RRRC0004 332534 6597406 342 66 -65 180 149.0 150.0 1.0 11.7 ()ScFireAsFire1m10.11g/t@reensayassay
CRRR0005 332465 6597528 340 66 -65 186 156.0 157.0 1.0 0.91 ireFAssay
RRRC0006 332382 6597666 341 66 -65 192 176.0 179.0 3.0 5.62 ()ScFireAsFire3m5.33g/t@reensayassay
RRRC0007 332323 6597828 342 68 -65 204 183.0 185.0 2.0 3.98 (/)ScFireAsFire2m3.21gt@reensaassayy
RRCD0002 332628 6596818 339 -60 297 23.97 24.67 0.7 1341 ()ScFireAsFire0.223.6g/75mt@reensayassay
68 274.6 275.0 0.4 14.8 (/)ScFireAsFire0.6m12.70t@reensaassayy
RRCD0005 6597042 339 60 -65 303 3.06 064. 01. 1.44 MinelisaionihinPodeSillGabbrott
332574 66.0 67.0 1.0 1.18 rawwr
RRCD0007 332286 9886561 324 07 0-7 338.8 2921. 29.16 0.4 9.97 ScFireAsreensay

Competency Statement

The information in this report relating to Exploration Results and Mineral Resources is based on information compiled by Mr Glenn Grayson who is a Member of the Australian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the style of mineralisation under consideration 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 Grayson is a full time employee of Barrick Kanowna and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears (Tables 1,2 & 3).