NEW SILVER-COPPER RESULTS EXTEND CAMO DRILLING TARGET

New surface silver-copper rockchip results extend Camo drilling target
Drilling intersects mineralised lode in two holes, with results to come

Perth based Red Mountain Mining Limited has produced more significant silver-copper surface rockchip results that extend the Camo drilling target on the Lobo Prospect, Batangas Gold Project, located 120 kilometres south of Manila in the Philippines.

Six surface rockchip samples collected from 125 metres northeast of previous surface Trench C1-14 (4m @ 379 g/t Ag, 2.0 g/t Au, 0.62% Cu - released 25 August 2014) produced strongly anomalous results including: MG131907: 222.2 g/t Ag, 0.6% Cu; MG131906: 158.3 g/t Ag, 0.32% Cu, 0.6 g/t Au and MG131905: 106.2 g/t Ag, 0.35% Cu (see Table 1 below and Figure 1 for locations).

Sample #	North (Grid)	East (Grid)	Au g/t	Ag g/t	Cu %	Pb%	Zn %
MGI31904	11,112	9,969	0.01	1.4	<0.05	<0.05	<0.05
MGI31905	11,093	9,955	0.14	106.2	0.35	0.19	0.24
MGI31906	11,092	9,964	0.60	158.3	0.32	0.27	0.08
MGI31907	11,088	9,957	0.11	222.2	0.60	0.34	0.15
MGI31908	11,099	9,968	<0.005	26.2	<0.05	<0.05	<0.05
MGI31909	11,096	9,923	0.12	25.1	<0.05	<0.05	<0.05

The new results from Camo are summarised in Table 1 below:

Drilling is progressing well with the completion of two drillholes, LB116 and LB117, testing the south-western part of the Camo trend, both of which intersected mineralised lode material. Initial results are expected shortly.

Red Mountain Mining Managing Director Mr Jon Dugdale said, "These surface silver-copper results further build the Camo story and confirm that we have a large epithermal system. Drilling is going very well and we look forward to receiving the initial results shortly."

Figure 1 shows the interpreted location of the Camo trend and new surface rockchip results and Figure 2 shows the results in longitudinal projection.

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Figure 1: Plan of Camo lode with new rockchip sample results, silver in soil anomalies and drillhole locations

Figure 2: Camo Longitudinal Projection, with Rockchip results

About the Camo Target:

The Camo target is located approximately 1.2 kilometres along strike northeast of the high grade SWB resource, and is associated with an identical flexure or bend in the structure to SWB (see plan, Figure 3). Camo is also at a 100 metre higher elevation than SWB, and characterised by high silver and copper grades in layered quartzbarite-enargite (Cu-As sulphide) epithermal lode material, indicative of the siliceous cap or sinter zone formed within the upper levels of an epithermal system.

High grade gold generally occurs below the silver rich siliceous sinter, within the "boiling zone" of the epithermal system. This is interpreted to have been eroded at SWB but may lie at shallow depth at Camo (see longitudinal projection Figure 4). This interpretation is backed up by the observation that at West Drift, 1 kilometre north of Camo, a gold resource (released 30 June 2014) is located less than 100 metres below the previously mined silvercopper rich siliceous zone.

The Camo lode therefore represents a significant target to define a near surface silver-copper and gold resource, with potential for a high grade gold zone at depth.

Figure 3: Plan of SWB and Camo lodes, Lobo epithermal gold prospect, Batangas project

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Figure 4: Longitudinal projection of South West Breccia and Camo structures

About the Lobo Prospect

Surface trench channel sampling and drilling conducted by Red Mountain has intersected high-grade epithermal gold mineralisation in five areas on the Lobo Mineral Production Sharing Agreement ("MPSA" – Philippines equivalent to a Mining Lease), namely SWB, Pica, Japanese Tunnel, West Drift and Ulupong.

Mineral Resources totaling 604,000t @ 4.2 g/t Au for 82,000 ounces of gold have been defined in three areas at Lobo, including SWB with a total 98% Indicated and 2% Inferred Resource of 221,000t @ 6.3 g/t Au, Japanese Tunnel with a total Indicated and Inferred Resource of 34,000t @ 3.0 g/t Au and West Drift with a total Indicated and Inferred Resource of 350,000t @ 3.0 g/t Au (ASX release 30 June 2014, JORC 2012).

The Company is focussed on increasing high grade resources through discovery of new, high grade, gold zones at Lobo. Five priority targets have been identified on the Lobo prospect area, for high grade gold as well as silvergold-copper mineralisation at the top of the preserved epithermal systems (see Figure 5).

Sampling of the new target areas continues, with the objective of defining multiple targets for a drilling program that is in progress.

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Figure 5: Plan of Lobo epithermal gold prospect with resources and high priority targets

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

Company Investors	Media
Jon Dugdale	Matt Birney
Managing Director	Birney Corporate
(+61) 402 298 026	(+61) 419 217 090
(+61) 8 9226 5668	(+61)8 9226 5668
E: [email protected]	E: [email protected]
	_____________________________________________________________________________________________________________________________

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About Red Mountain Mining Limited and the Batangas Gold Project

Red Mountain Mining (ASX: RMX) is primarily a gold explorer/developer 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 exploration and mining methods and improving efficiencies to gain significant exploration and production upside.

The Company holds a 100% direct and indirect contractual right interest in tenements in the Philippines that contain significant gold resources. Total Mineral Resources at Batangas include Indicated Resources of 2.97 million tonnes @ 2.4 g/t Au, 227,000 oz Au and Inferred Resources of 3.22 million tonnes @ 2.1 g/t Au, 218,000oz Au for a total of 6.19 million tonnes at 2.2 g/t Au, 444,000oz Au (ASX announcement 30 June 2014, JORC 2012).

The Company will continue exploration with the objectives of upgrading Mineral Resources at Batangas.

A Scoping Study (ASX release 20 March 2014) has demonstrated a strongly viable, low capital and operating cost, gold development based on initially recovering 90,000oz of gold over 4.5 years and potentially generating A$57 million of cash flow, including A$17 million of pre-production capital (US$ 1,350/oz; A$:US$ exchange 0.9).

The Company is completing a Definitive Feasibility Study (DFS) on the project and final permitting submissions have been lodged with the Philippines Government for approval to develop the Batangas Project, gold mining and processing operation (ASX release 30 April 2014).

Other gold opportunities will be reviewed on a continuous basis.

Cautionary Statement

The Scoping Study referred to in this announcement is based on lower-level technical and economic assessments, and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Scoping Study will be realised. There is a low level of geological confidence associated with inferred mineral resources (that represent 10% of the mining inventory in the Scoping Study) and there is no certainly that further exploration work will result in the determination of indicated Mineral Resources or that the production target itself will be realised. There is no certainty that the Scoping Study production targets or the forecast financial information derived from production targets, will be realised. All material assumptions underpinning the production targets and forecast financial information derived from the production targets, full details of which were released to ASX on 20 March 2014, continue to apply and have not materially changed.

Competent Person Statement

The information in this report relating to Mineral Resources and post 1 December 2013 Exploration Results 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 2012 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 takes responsibility and consents to the inclusion in the report of the new Exploration Results in the form and context in which it appears. The Company confirms that the form and context in which previously released Mineral Resources and Exploration Results are presented has not been materially modified and it is not aware of any new information or data that materially affects the information included in the relevant market announcements, as detailed in the body of this announcement. All material assumptions and

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technical parameters underpinning the Mineral Resource estimates continue to apply and have not materially changed.

The information in this report relating to pre December 2013 Exploration Results 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 takes responsibility and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This announcement contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on Red Mountain Mining's current expectations, estimates and projections about the industry in which Red Mountain Mining operates, and beliefs and assumptions regarding Red Mountain Mining's future performance. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates" "potential" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Red Mountain Mining, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Red Mountain Mining cautions shareholders and prospective shareholders not to place undue reliance on these forwardlooking statements, which reflect the view of Red Mountain Mining only as of the date of this presentation. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Red Mountain Mining will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

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APPENDIX 1: SAMPLING TECHNIQUES AND DATA

Criteria	JORC Code explanation	Commentary
Sampling techniques	•Nature and quality of samplingand Assaying•Measures taken to ensuresample representivity and theappropriate calibration of anymeasurement tools orsystemsused.•Aspects of the determination ofmineralisation that areMaterial to the Public Report.	•Trenches (Costeans) through colluvialcover excavated to bedrock have beensampled at the base of the trench incontinuous cut channels with samplesaggregated over measured 0.5m to 1.0mintervals.•Trenching samples obtained from cutchannels at 0.5m to 1.0m intervals weighingless than 3kg were transported to IntertekLaboratories in Manila, the Philippines, forfire assay.•At least 2kg sample was pulverised and a50 gram charge fire assayed with AAS finishfor Gold (Au) and a range of 37 elements viaMultiple determination by ICP-OES(following four acid digest(HCl/HNO3/HClO4/HF) with volumetricfinish) assay including Silver (Ag), Copper(Cu), Lead (Pb) and Zinc (Zn).
Drilling techniques	•Drill type and details	•Diamond core drilling, Triple tube, HQ coresize
Drill sample recovery	•Method of recording and assessingcore and chip sample recoveries andresults assessed.•Measures taken to maximise samplerecovery and ensure representativenature of the samples.•Whether a relationship existsbetween sample recovery and gradeandwhether sample bias may haveoccurred due to preferentialloss/gain of fine/coarse material.	•Core sample recoveries routinely measuredand recorded in spreadsheet database•Triple tube drilling maximising corerecovery. Samples split half coreperpendicular to strike of structures•Recovery maximised (100%). No biasgenerated.
Logging	•Whether core and chip samples havebeen geologically and geotechnicallylogged to a level of detail to supportappropriate Mineral Resourceestimation, mining studies andmetallurgical studies.•Whether logging is qualitative orquantitative in nature. Core (orcostean, channel, etc) photography.•The total length and percentage ofthe relevant intersections logged.	•Logging of geology, alteration andgeotechnical aspects have been recorded indrilling logs for diamond core drilling.•Logging is qualitative. All drill corephotographed.•The entire interval drilled / trenched has
Sub-sampling	•If core, whether cut or sawn and	been logged.•Half core taken, sawn.
techniques andsample preparation	whether quarter, half or all coretaken.•If non-core, whether riffled, tube	•Non core Trench (Costean) channel samples

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Criteria	JORC Code explanation	Commentary
	sampled, rotary split, etc andwhether sampled wet or dry.•For all sample types, the nature,quality and appropriateness of thesample preparation technique.•Quality control procedures adoptedfor all sub-sampling stages tomaximise representivity of samples.•Measures taken to ensure that thesampling is representative of the insitu material collected, including forinstance results for fieldduplicate/second-half sampling.•Whether sample sizes areappropriate to the grain size of thematerial being sampled.	entire sample aggregated, not riffled orsplit.•Aggregated half core . Entire ~2kg samplepulverised at Laboratory prior to fire assay.This is an appropriate sample preparationtechnique that minimises bias.•Drilling and Channel sampling orthogonalto dip and strike of the lode providescontinuous sample with even weights thatmaximises representivity.•Field duplicates regularly sampled.•Sample sizes at >2kg are well in excess ofrequirements appropriate to the grain sizeof gold that has been shown bymineragraphy to be generally less than 50micron.
Quality of assay dataand laboratory tests	•The nature, quality andappropriateness of the assaying andlaboratory procedures used andwhether the technique is consideredpartial or total.•For geophysical tools,spectrometers, handheld XRFinstruments, etc, the parametersused in determining the analysisincluding instrument make andmodel, reading times, calibrationsfactors applied and their derivation,etc.•Nature of quality control proceduresadopted (eg standards, blanks,duplicates, external laboratorychecks) and whether acceptablelevels of accuracy (ie lack of bias)and precision have been established.	•Fire assay is appropriate for the nature ofthe gold mineralisation being assayed.•No geophysical tools used in generatingexploration results.•Registered standards have been insertedevery 20 samples.•Levels of accuracy and precision (detectionlimit) for gold is + or minus 0.005 ppm gold,which is well in excess of the precisionrequired for the level of assays reported.
Verification ofsampling andassaying	•The verification of significantintersections by either independentor alternative company personnel.•The use of twinned holes.•Documentation of primary data,data entry procedures, dataverification, data storage (physicaland electronic) protocols.•Discuss any adjustment to assay	•Significant intersections reported by fieldpersonnel, verified by competent person.•No twinning of drillholes at this stage.•Primary data logged on paper then dataentry into database, verified by ChiefGeologist and stored in electronic database,regularly backed up. output in spreadsheetform. Data is verified and compared withstandard assays using established companyprotocols.•No adjustments have been made to assay

Criteria	JORC Code explanation	Commentary
Location of datapoints	data.•Accuracy and quality of surveys usedto locate drill holes (collar anddown-hole surveys), trenches, mineworkings and other locations usedin Mineral Resource estimation.•Specification of the grid system used.•Quality and adequacy oftopographic control.	data.•Drillholes and Trenches (Costeans)accurately surveyed using Nikon TotalStation DTM-332 survey equipment.•Drillhole and Trench (Costean) locationssurveyed in UTM WGS84 51N grid,converted to local Lobo grid.•Topographic surveys were done using theTotal Station. Control stations were set byan independent surveyor (McDonaldConsultant, Inc.) using 2 DGPS (one as abase station for correcting diurnalvariations) and a total station for wherethey could not survey with GPS under thickcover. These were tied to knowngovernment control stations.
Data spacing anddistribution	•Data spacing for reporting ofExploration Results.•Whether the data spacing anddistribution is sufficient to establishthe degree of geological and gradecontinuity appropriate for theMineral Resource and Ore Reserveestimation procedure(s) andclassifications applied.•Whether sample compositing hasbeen applied.	•Drilling assayed on no more than 1mintervals down hole. Drilling testingTrenches (Costeans) excavated every 10malong the strike of identified mineralisation.Data spacing sufficient to establish thedegree of geological and grade continuityappropriate for the Mineral Resource andOre Reserve estimation procedure(s)•Samples have not been composited.
Orientation of data inrelation to geologicalstructure	•Whether the orientation of samplingachieves unbiased sampling ofpossible structures and the extent towhich this is known, considering thedeposit type.•If the relationship between thedrilling orientation and theorientation of key mineralisedstructures is considered to haveintroduced a sampling bias, thisshould be assessed and reported ifmaterial.	•Drilling and Trenching (Costeans)established orthogonal to the interpretedstrike and dip of the mapped mineralisedstructures.•No sampling bias interpreted.
Sample security	•The measures taken to ensuresample security.	•Samples secured by senior personnel onsite and transported directly by companyvehicle to Intertek Laboratories, Manila, thePhilippines.
Audits/Reviews	•The results of any audits or reviewsof sampling techniques and data.	•Internal reviews regularly completed butno external audits carried out to date.

ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au [email protected]

APPENDIX 2: REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
Mineral tenement andland tenure status	•Type, reference name/number,location and ownershipincluding agreements ormaterial issues with thirdparties such as joint ventures,partnerships, overridingroyalties, native title interests,historical sites, wilderness ornational park andenvironmental settings.•The security of the tenure heldat the time of reporting alongwith any known impediments toobtaining a licence to operate inthe area.	•The Batangas Gold Project comprises 2Mineral Production Sharing Agreements(MPSA's), 8 Exploration Permits (EP's) andfour Exploration Permit Applications(EPA's).•Red Mountain Mining Ltd has a 100%interest in Philippines subsidiary MRL GoldInc. which in turn has a 100% direct andcontractual right interest in the Batangasgold Project tenements.•The Lobo and Archangel MPSA's contain allidentified (JORC 2004) resources.Declaration of Mining Feasibility andEnvironmental Compliance Certificate willbe required to be approved by thePhilippines Mines and Geosciences Bureauof the Department of Energy and NaturalResources of the Philippines Governmentbefore the company has a licence tooperate.
Exploration done byother parties	•Acknowledgment and appraisalof exploration by other parties.	•Previous exploration was conducted byMindoro Resources Ltd including extensivedrilling, surface geochemistry, geophysics,mapping and mineral resource estimationto JORC 2004 and NI 43-101 standards.
Geology	•Deposit type, geological settingand style of mineralisation.	•The gold mineralisation that is the target ofthe exploration program is porphyryrelated epithermal gold mineralisationhosted by intermediate to felsic volcanicrocks and intrusions.•Two styles of intermediate sulphidationepithermal gold mineralisation identified –i) andesite hosted stockwork mineralisationat e.g. Archangel MPSA and Quartz-BariteSulphide vein/lode style mineralisation ate.g. the Lobo MPSA.
Drill hole Information	•A summary of all informationmaterial to the understandingofthe exploration results includinga tabulation of the followinginformation for all Material drillholes:easting and northing of theodrill hole collarelevation or RL (ReducedoLevel –elevation above sealevel in metres) of the drillhole collar	•See Table 1, Drillhole/Trenching/Samplinglocations, RL, dip and azimuth, length.•Also significant intersections, from, to,interval, grade for relevant economictargets gold (Au), Silver (Ag) and copper(Cu).

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Criteria	JORC Code explanation	Commentary
	dip and azimuth of the holeodown hole length andointerception depthhole length.o
Data aggregationmethods	•In reporting Exploration Results,weighting averaging techniques,maximum and/or minimumgrade truncations (egcutting ofhigh grades) and cut-off gradesare usually Material and shouldbe stated.	•Exploration results from drilling and trench(Costean) sampling have been weighted byinterval.•No high-grade cuts have been applied asmaximum grade (12 g/t Au) is less thanfive times the approximate mean grade.
	•Where aggregate interceptsincorporate short lengths ofhigh grade results and longerlengths of low grade results, theprocedure used for suchaggregation should be statedand some typical examples ofsuch aggregations should beshown in detail.•The assumptions used for anyreporting of metal equivalentvalues should be clearly stated.	•Lower cut-off grade of 1 g/t Au hasgenerally been applied to significantintersections.•Aggregate drilling and trenching interceptsdo not incorporate longer lengths of lowgrade results.•No metal equivalent reported.
Relationship betweenmineralisation widthsand intercept lengths	•These relationships areparticularly important in thereporting of Exploration Results.•If the geometry of themineralisation with respect tothe drill hole angle is known, itsnature should be reported.•If it is not known and only thedown hole lengths are reported,there should be a clearstatement to this effect (eg'down hole length, true widthnot known').	•Drilling and trenches (Costeans) have beendrilled/excavated and sampled as close toorthogonal to the strike and dip of the lodestructures as possible and, as such, theintersection lengths are a closeapproximation of true width.
Diagrams	•Appropriate maps and sections(with scales) and tabulations ofintercepts should be included forany significant discovery beingreported These should include,but not be limited to a plan viewof drill hole collar locations andappropriate sectional views.	•See Figures 1 to 2 and Table 1.
Balanced reporting	•Where comprehensive reportingof all Exploration Results is not	•All significant drilling and trenchexploration results reported

Criteria	JORC Code explanation	Commentary
	practicable, representativereporting of both low and highgrades and/or widths should bepracticed to avoid misleadingreporting of Exploration Results.
Other substantiveexploration data	•Other exploration data, ifmeaningful and material, shouldbe reported including (but notlimited to): geologicalobservations; geophysicalsurvey results; geochemicalsurvey results; bulk samples –size and method of treatment;metallurgical test results; bulkdensity, groundwater,geotechnical and rockcharacteristics; potentialdeleterious or contaminatingsubstances.	•Mineragraphy on SWB and Trench 7samples indicates that gold is "free" orassociated with sulphide mineralsindicating that there is no significantsupergene enrichment•Metallurgical leaching results (release,24/01/2014) for drillcore from both SouthWest Breccia resources on the LoboProspect and the oxide and transitionaloxide resources at Kay Tanda on theArchangel Prospect, indicate that a finegrind of the resource material to 37 micronand 75 micron respectively exhibit hightotal gold recoveries of up to 97% (48hours leaching).
Further work	•The nature and scale of plannedfurther work (eg tests for lateralextensions or depth extensionsor large-scale step-out drilling).•Diagrams clearly highlightingthe areas of possible extensions,includingthe main geologicalinterpretations and futuredrilling areas, provided thisinformation is not commerciallysensitive.	•Drilling to be continued to test identifiedmineralised zones on a 20m x 20m spacingas detailed in the release.•See Figures 1 to 2

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RED MOUNTAIN MINING LIMITED Capital/Financing Update 2014

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NEW SILVER-COPPER RESULTS EXTEND CAMO DRILLING TARGET