RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2017

Apr 30, 2017

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ASX : RMX Company Directors ASX ANNOUNCEMENT Jeremy King RED MOUNTAIN MINING LTD Lincoln Ho Robert Parton Company Secretary Shannon Coates

RED MOUNTAIN MINING LTD 1 May 2017

RED VALLEY DRILLING UPDATE

Red Mountain Mining Ltd ( RMX or Company ) is pleased to advise that it has reached target depth of 1,000 feet for drill hole 1 at Red Valley. Samples have been taken and will undergo laboratory analysis.

The drill rig is being mobilised to the site for the second drill hole location, and drilling is anticipated to begin shortly.

RMX is currently conducting a 3 well program at its Red Valley Lithium brines project in Utah, USA.

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Red Valley: Drillhole locations

For and on behalf of the Board.

Shannon Coates, Company Secretary

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