RED MOUNTAIN MINING LIMITED — Interim / Quarterly Report 2013

Oct 16, 2012

September Quarter 2012 Report

HIGHLIGHTS

• Binding Share Sale Agreement signed for the proposed acquisition of significant gold resources and copper-gold assets ("Assets") in the Philippines from Mindoro Resources Ltd ("Mindoro").
• Red Mountain shareholders approve acquisition of Mindoro Assets at General Meeting held on 4 September 2012 and the issue to Mindoro of Company shares.
• Completion of Mindoro Assets acquisition expected in October 2012.
• Initial Broker coverage commences.

PHILIPPINES GOLD DRILLING

• A 3000m drilling program commenced on 5 August targeting high grade gold zones at one of the more advanced Philippines targets, the Archangel prospect within the Batangas Project.
• First Archangel drill hole KTD 191-12 intersected 26.2m @ 4.07g/t gold from 19.4m down hole including two high grade intervals of 6m @ 6.12g/t gold from 19.4m and 8.8m @5.36g/t gold from 36.8m down hole. These intersections are part of a broader interval of 39.25m @ 3.08g/t gold from 16.4m down hole.
• $400,000 of $1 million funding facility for Philippines drilling drawn by Mindoro to 30 September.

PHILIPPINE ACQUSITION

• The proposed acquisition of significant gold resources and copper gold assets in the Philippines containing a JORC Indicated Resource of 10.15MT @ 1.2g/t for 393,000 ounces of gold and 1,427,800 ounces of silver and an Inferred Resource of 3.8MT @ 0.88g/t for 108,000 ounces of gold and 210,000 ounces of silver, received shareholder approvals on 4 September.
• Satisfaction of Conditions Precedent and other requirements for Completion of the Acquisition is expected by late October.

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

CORPORATE

• Shareholders approve acquisition of Mindoro Assets at General Meeting held on 4 September and the issue of 100 million Red Mountain ordinary shares to vendor, Mindoro. These shares will remain in escrow for 12 months following completion.
• An additional 50 million Performance shares will be issued to Mindoro if certain milestones are met within 12 months following completion of the acquisition.
• Red Mountain remains in a strong financial position with $3.3 million in cash and no debt as at 30 September 2012.
• Following a broker and analyst site visit in August to the Batangas Project in the Philippines, initial coverage by Argonaut Capital and Cygnet Capital of the Company's activities commenced in September.

Portfolio of projects in key mining districts

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

ARCHANGEL DRILLING (Batangas)

A 3000m drilling program of the high grade gold zones at the Kay Tanda resource located at Archangel on the Batangas Project south of Manila, commenced on the 5 August.

First drill hole KTD 191-12 intersected 26.2m @ 4.07g/t gold from 19.4m down hole including two high grade intervals of 6m @ 6.12g/t gold from 19.4m and 8.8m @ 5.36g/t gold from 36.8m down hole. These intersections are part of a broader interval of 39.25m @ 3.08g/t gold from 16.4m down hole.

Drilling has continued throughout the quarter and it is envisaged that the program will continue unabated into 2013.

At quarter end, Mindoro, on behalf of Red Mountain, had completed 6 structurally orientated holes at Archangel. Further results will be released as they become available. A full table of results to quarter end are in Table 1 below.

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

Results of KTD 191-12 at Kay Tanda gold resource, Archangel.

Table1: Structural drill holes results to date:

Drill hole	Northing(Grid)	Easting(Grid)	Azimuth(Mag)	Dip	Depth (m)	From (m)		To (m) Interval (m)	Gold g/t		Silver g/t Cu (ppm) Pb (ppm) Zn (ppm)
KTD 191-12	9,900	9,965		320° -55°	92.6	16.4	55.65	39.25	3.08	2.70	33	492	18
Including						19.4	45.6	26.2	4.07	2.95	22	600	11
Including						19.4	25.4	6.0	6.12	5.27	12	604	11
Including						36.8	45.6	8.8	5.36	3.51	28	518	12
KTD 192-12	10,003	9,907		48° -66°	267.25	14.85	18.85	4.0	0.75	0.76	157	270	2
						53.25	57	3.8	0.83	1.08	80	310	25
						144.95	147.1	2.15	0.56	5.15	1,847	21,319	46,417
							199.65 201.65	2	1.83	0.38	131	3,245	1,993
						212.65	216	3.35	1.13	0.35	38	231	426
						232	233	1.0	4.49	1.20	442	6,825	14,424
KTD 193-12	9,330	9,575		48° -50°	168	18	28.3	10.3	1.70	50.1	347	658	198
Including						22.3	27.3	5.0	2.98	88.3	438	1,072	94
Including						22.3	23.3	1.0	6.66	227.1	110	1,980	107
KTD 194-12	9,999	9,877		48° -63°	217.75
KTD 195-12	9,409	9,582		48° -50°	149.7
KTD 196-12	9,882	9,940		48° -60°	88.6
Total					983.9

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

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A revised geological model has been developed based on the results of drilling to date, as shown in the diagram below. Three styles of gold mineralization are interpreted within the Kay Tanda resource area:

i) silica replacement / stockwork lithocap: low grade gold mineralization, variably preserved, at the top of the Kay Tanda resource (released by Mindoro March 2010).

ii) hydrothermal breccia / stockwork "upflow" zones: carrying both low-grade stockwork that forms the bulk of the Kay Tanda resource, and higher-grade vein-breccia gold and silver mineralization as intersected by KTD 191-12 and KTD 193- 12. Occurs within and below the broader envelope of silica replacement/stockwork.

iii) hydrothermal breccia – quartz base metal veins projecting to potential high-grade "feeder" targets: high-grade gold with base metal veining (Pb-Zn-Cu) as intersected in KTDH04, and tested by KTD 192-12. Interpreted to link to high-grade gold and base metal feeder targets on the flanks of an interpreted domed volcanics-intrusive boundary underlying the Kay Tanda resource.

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

COMPANY STATUS AND OUTLOOK

The Company remains in a strong financial position, with $3.3 million in cash and no debt as at 30 September 2012, a strong technical team, and is on track to acquire a pipeline of advanced gold projects and copper gold tenements with high exploration and resource extensions potential.

The Company has temporarily ceased its search for advanced exploration and mining projects in the Asian region until the Mindoro acquisition has been completed. Red Mountain continues to maintain its core strategic focus of introducing modern Australian mining techniques to underdeveloped resource projects in Asia.

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

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Media
Kevin Skinner
Field Public Relations
(+61)414822631
(+61 8) 82349555

Executive Chairman Field Public Relations

About Red Mountain Mining Limited

Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company incorporated in Australia in May 2006. The Company's strategy is to unlock the potential of 'under-developed' gold and polymetallic projects in the Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside..

Competent Person Statement

The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Jon Dugdale, who is a member of The Australasian Institute of Mining and Metallurgy.

Jon Dugdale has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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'. Jon Dugdale consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Executive Chairman & Acting CEO Non-Executive Director Head Office Keith Rowe Shannon Coates Unit 1, 2 Richardson Street

Executive Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au

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