RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2013

Jun 13, 2013

ASX ANNOUNCEMENT

14 June 2013

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PHILIPPINES LIFTED TO INVESTMENT GRADE RED MOUNTAIN RECEIVES QUOTE FOR GOLD DEVELOPMENT SCOPING STUDY

Perth-based Red Mountain Mining Limited (ASX: RMX) (“the Company”, “Red Mountain”) is pleased to inform shareholders and investors that the Philippines has been upgraded to investment grade by Standard and Poors from BBB- to BB+. This is expected to have the effect of cheapening financing of development projects, including future gold mine developments.

Red Mountain is currently undertaking a pro rata renounceable Rights Issue, closing Monday 17[th] June at 5pm WST, with the objective of raising funds to continue drilling of high-grade gold exploration targets for potential resource upgrade and to complete a scoping study into a gold mine development based on the existing Indicated and Inferred resources totaling 5.78 million tonnes @ 2.2 g/t gold for 408,000 Au oz (using a 0.85 g/t Au lower cut off). A quote has been received from Arccon Mining Services (Arccon), part of the Allmine Group (AZG), to complete a scoping study into project processing alternatives and associated capital and operating costs of mining approximately 550,000 tonnes of open pitable gold resource material per annum. If the outcomes of the scoping study are sufficiently positive, the Company will aim to complete project permitting and a definitive feasibility study during 2014.

Managing Director of Red Mountain Jon Dugdale: “We view the upgrade of the Philippines to investment grade, coupled with the intention of the Philippines government to fast track mining permit approvals under the Executive Order 79 policy, as very positive developments for a company such as Red Mountain, that aims to become a Philippines gold producer.”

____________________________________________________________________________________________________ For further information about Red Mountain please visit www.redmm.com.au or contact:

Company Investors Media Jon Dugdale Kevin Skinner Managing Director Field Public Relations (+61) 402 298026 (+61) 414 822631 (+61) 8 9226 5668 (+61)8 8234 9555

About Red Mountain Mining Limited

Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘under-developed’ gold and polymetallic projects in the greater Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside.

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ASX code: RMX ABN 40 119568106

COMPANY DIRECTORS CONTACT DETAILS Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Chairman Non-Executive Director Head Office Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 Keith Rowe www.redmm.com.au Non-Executive Director info@redmm.com.au

The Company holds direct and indirect interests in tenements in the Philippines that contain significant gold resources and several high-quality copper-gold prospects. Total Mineral Resources at Batangas at a 0.85 g/t Au lower cut off include 2.76 million tonnes @ 2.3 g/t Au, 208,000 oz Au and 3.02 million tonnes @ 2.1 g/t Au, 200,000 oz Au for a total of 5.78 million tonnes at 2.2 g/t Au, 408,000oz Au (announced January 30[th] 2013, 2004 JORC). The Company is focussed on upgrading the Batangas resources through discovery of new, high grade, gold zones at Archangel, and Lobo (eg West Drift, Pica, Ulupong). The Company will continue drilling with the objective of increasing the size and grade of the Mineral Resources at Batangas then completing a scoping study to demonstrate the viability of a potential high-margin gold project development. The majority of the copper-gold prospects are available for joint venture.

Other gold opportunities will be reviewed on a continuous basis.

Competent Person Statement

The information in this report relating to Mineral Resources is based on information compiled by Mr Jon Dugdale who is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles 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 Dugdale is a full time employee and Managing Director of Red Mountain Mining Ltd. Mr Dugdale consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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ASX code: RMX ABN 40 119568106

COMPANY DIRECTORS Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director Keith Rowe Non-Executive Director

CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

Michael Wolley Non-Executive Director Shannon Coates Company Secretary