RED MOUNTAIN MINING LIMITED — Investor Presentation 2012

May 29, 2012

==> picture [720 x 12] intentionally omitted <==

Proposed acquisition of gold and copper-gold assets in Philippines

==> picture [284 x 218] intentionally omitted <==

----- Start of picture text -----

30 Ma 2012
----- End of picture text -----

==> picture [279 x 217] intentionally omitted <==

==> picture [160 x 217] intentionally omitted <==

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Transaction highlights
----- End of picture text -----

• Proposed acquisition of significant gold and copper-gold assets in the Philippines containing an Indicated Resource of 10,150,000 tonnes @ 1.2g/t for 393,000 contained ounces of gold and an Inferred Resource of 3,800,000 tonnes @ 0.88g/t for 108,000 contained ounces of gold, with significant further exploration potential

• High grade intercepts below resources include 61m @ 5.1g/t gold, 64m@ 3.5 g/t gold, and 26m @ 4.03g/t gold

• Assets situated within one of most endowed regional provinces for major gold and copper gold porphyry discoveries

• Established social and environmental “license to operate”.

• Red Mountain Mining acquiring a proven and experienced exploration team in the Philippines

2

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Transaction highlights (cont’d)
----- End of picture text -----

• Strengthening of Red Mountain Mining’s management team by securing senior executive and Board members from Mindoro

• Transaction strongly in line with Red Mountain Mining’s strategy and provides a unique opportunity to apply modern Australian mining techniques to acquired projects

• Acquisition to be fully funded by issue of Red Mountain Mining shares

• Unanimously recommended by both Red Mountain Mining and Mindoro Boards

3

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Transaction overview
----- End of picture text -----

• Acquisition of Mindoro Resources’ Philippine based gold and copper-gold tenements and projects in exchange for Red Mountain Mining shares

• Following interests are to be acquired by Red Mountain Mining:

• 100% interest in Batangas Project with JORC Indicated Resources of 393,000 ounces and Inferred Resources of 108,000 ounces (total 500,000 ounces), including Archangel – Kay Tanda resource and Lobo - South West Breccia resource and other gold and copper-gold projects within the extensive exploration tenements located on Luzon Island

• 75% interest in copper-gold exploration tenements at Tapian San Francisco located near Surigao on Mindanao Island.

4

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Transaction structure
----- End of picture text -----

• Mindoro assets to be acquired:

• 100% of MRL Gold (Australia) Pty Ltd – 100% owner of Mindoro's Philippines subsidiaries, the beneficial owner of the Assets

• Placement – consideration will be:

• *100,000,000 non-voting shares in Red Mountain Mining; and

• *50,000,000 performance shares in Red Mountain Mining that convert into NonVoting Shares upon increasing the indicated resource to 600,000 ounces and delivering an “economically viable” scoping study

• Non-voting shares convert to voting shares once distributed to Mindoro shareholders

• Commercial loan:

• Upon execution of sale agreement, Red Mountain Mining will enter into a secured loan agreement up to A$1 million on usual commercial terms to Mindoro to commence focussed drilling of Archangel higher grade gold resource targets

• Shares issued based on a no-consolidation basis

5

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Conditions precedent
----- End of picture text -----

• Completion of satisfactory due diligence by both parties

• Board and required shareholder approval of both Red Mountain Mining and Mindoro

• Completion of restructuring of Mindoro subsidiary MRL Gold Phils Inc whereby assets and beneficial rights to assets are transferred to another Mindoro subsidiary

• Toronto Stock Exchange approval of sale of Mindoro assets for shares

• Red Mountain Mining to retain working capital of no less than A$4.2m (less amount of loan drawn down) at time of completion of transaction (provided completion occurs on or prior to 31 August 2012)

• Entity which house projects, being MRL Gold (Australia) Pty Ltd (on a consolidated basis inclusive of their Philippines subsidiaries) having net working capital of no less than US$0 at time of completion of transaction

• If required by ASX, Red Mountain Mining preparing a full form prospectus, lodging prospectus with ASIC and raising minimum amount under that prospectus

6

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Corporate structure post acquisition
----- End of picture text -----

==> picture [706 x 347] intentionally omitted <==

----- Start of picture text -----

56-65% 35-44%
100% Current RMX
Current MDO MDO RMX shareholders
shareholders
100%
100%
MRL Phils. Inc.
100% MRL Gold
75% (Australia) 100%
Options for 75%
100%
100%
Philippines
MDO Nickel Pan de Azucar
Subsidiary 100%
Assets (75%)
100%
25% 25% 75%
Minimax, 25%
Tapian SF (75%) Batangas Gold
Philippines
Projects (100%)
Partner
----- End of picture text -----

7

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Red Mountain Mining Board
----- End of picture text -----

Pre acquisition	Post acquisition
Neil Warburton (Exec Chairman and Acting CEO)	Neil Warburton (Exec-Chairman) and then Non-Exec Chairman within 9 mths of completing sale
Keith Rowe (Executive Director)	Jon Dugdale Exec Director and then CEO within 9 mths of completing sale
Michael Wolley (Non-Executive Director)	Howard Walker (Non-Executive Director)
	Keith Rowe (Non-Executive Director)
	Michael Wolley (Non-Executive Director)

8

MAP KEY

Batangas Gold Projects

(100% beneficial interest)

• Archangel (Gold)

Didipio Cu-Au (Oceana)

Gold and Cu-Au project Major Deposit Recent major discovery Major Gold project

• Lobo (Gold)

• El Paso, Calo, Talahib (Cu-Au)

Masbate Gold 200,000oz pa (CGA Mining)

Tapian San Francisco Project (75% beneficial interest)

• TSF and Canaga (Cu-Au)

Sianna Gold 85,000oz pa (Red 5)  Co-O Gold 100,000oz pa (Medusa Mining)

Tampakan, Cu-Au, BFS  (Xtrata/Indophil)

9

==> picture [518 x 342] intentionally omitted <==

----- Start of picture text -----

Luzon
Manila
Mindanao
El Paso
Calo
Talahib
Marita
LOBO
----- End of picture text -----

MAP KEY

Tenements / applications Porphyry copper-gold prospects Resource area Epithermal vein trends Copper showing Historical mine / workings Other prospects

==> picture [70 x 9] intentionally omitted <==

----- Start of picture text -----

0 4km
----- End of picture text -----

==> picture [8 x 8] intentionally omitted <==

----- Start of picture text -----

N
----- End of picture text -----

LOBO PROJECT - SW BRECCIA, High grade epithermal gold veins; 5km to test

==> picture [213 x 11] intentionally omitted <==

----- Start of picture text -----

ARCHANGEL PROJECT - KAY TANDA,
----- End of picture text -----

NI 43-101/JORC Resource Estimate Indicated: 270,000 t @ 6.49 g/t (56,380 oz) Inferred: 61,000 t @ 5.35 g/t (10,540 oz)

NI 43-101/JORC Resource Estimate Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz) High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au

Sea

10

==> picture [12 x 12] intentionally omitted <==

==> picture [456 x 222] intentionally omitted <==

----- Start of picture text -----

BATANGAS
PROJECTS
Bootin Taysan Project Crazy Horse
EL PASO PROJECT
LOBO GOLD
Biga PROJECT
TALAHIB
PROJECT ARCHANGEL
PROJECT
KAY TANDA GOLD
RESOURCE
Marita
MAP KEY
Archangel MPSA boundary
Younger cover rocks
----- End of picture text -----

• 6km gold zone with porphyry at depth Bootin

• • Drilling high-grade “feeders” to build resource

• Resources low-strip and excellent metallurgy

==> picture [12 x 12] intentionally omitted <==

==> picture [12 x 12] intentionally omitted <==

==> picture [13 x 12] intentionally omitted <==

Extensively altered volcanics intruded by diorite and dacite Advanced argillic zones

==> picture [13 x 11] intentionally omitted <==

Resource area

XS 9350N

Epithermal gold-silver zones Porphyry-related stockworks Vein breccia

Boulder field of mineralized massive silicified rocks

Kay Tanda NI 43-101/JORC Resource Estimate Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz)

Old mine working Copper showing

==> picture [18 x 16] intentionally omitted <==

Porphyry related IP anomalies

High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au, 64m @ 3.5 g/t Au, 26m @ 4.03 g/t Au

==> picture [18 x 34] intentionally omitted <==

----- Start of picture text -----

N
----- End of picture text -----

0 1 Km

Sea

11

KAY TANDA CROSS SECTION 9350N: Shallow Resource and “Feeder” Target

==> picture [643 x 408] intentionally omitted <==

----- Start of picture text -----

Batangas
Projects
58m @ 1.53 g/t Au
26m @ 4.03 g/t Au, 179.16 g/t Ag
60m @ 1.46 g/t Au, 25.10 g/t Ag
PL-37
PL-23 [PL-31] [PL-24]
PL-30
20m @ 1.09 g/t Au PLDH-01
PL-16
PL-17 MAP KEY
PL-22
75m Interpreted mineralization
60m boundaries
70m
51m
70m Quartz - gold breccia veining
82m 10m @ 6.84 g/t Au
60m 105.2m KT-07 Drill hole
50m 2m @ 12.24 g/t Au
Mineralized intercept
28m @ 1.47 g/t Au Mineralized intercept
(high grade)
End of hole
75m
50m
Porphyry Target at Depth
9400E 9500E 9600E 9700E 9800E
----- End of picture text -----

12

==> picture [332 x 99] intentionally omitted <==

----- Start of picture text -----

Nagtoctoc
•
High-grade gold shoots targeted
• ?
5km mapped epithermal lode structures
•
Drilling planned to build resource
Pica: Epithermal veins:
----- End of picture text -----

Pica: Epithermal veins:

==> picture [475 x 277] intentionally omitted <==

----- Start of picture text -----

• 13.65m @ 2.49 g/t Au in
• 213m @ 0.18% Cu, 0.30 g/t Au ?
Balisong
?
Camo, at surface,
Pica
? • 4.5m @ 488 g/t Ag, 1.8% Cu
Lobo shoot? Old Lobo • 3.5m @ 114 g/t Ag, 0.36% Cu
12m @ 7.42 g/t Au
Copper Mine
?
Camo
?
Southwest Breccia
Recent results eg LB-62:
• 8.0m @ 8.8 g/t Au and Line 10170N
• 7.45m @ 12.4 g/t Au
Line 10155N
?
----- End of picture text -----

==> picture [241 x 55] intentionally omitted <==

----- Start of picture text -----

SW Breccia Mineral Resource: High Grade Shoot
• Indicated - 270,000 t @ 6.49 g/t Au; 56,380 oz Au
• Inferred - 61,000 t @ 5.35 g/t Au; 10,540 oz Au
• open to SW and depth
----- End of picture text -----

==> picture [189 x 160] intentionally omitted <==

----- Start of picture text -----

BATANGAS
PROJECTS
Crazy Horse
Taysan Project
EL PASO PROJECT
LOBO GOLD
PROJECT
TALAHIB
PROJECT ARCHANGEL
PROJECT
KAY TANDA GOLD
RESOURCE
----- End of picture text -----

MAP KEY

==> picture [34 x 48] intentionally omitted <==

Alluvium Limestone

Mineralized and altered volcanics Mineralization shoot Epithermal vein breccia trend Silica cap Old Mine High-Grade shoot target

==> picture [36 x 92] intentionally omitted <==

==> picture [13 x 9] intentionally omitted <==

----- Start of picture text -----

N
----- End of picture text -----

0 500m

==> picture [21 x 11] intentionally omitted <==

----- Start of picture text -----

13
----- End of picture text -----

==> picture [720 x 540] intentionally omitted <==

----- Start of picture text -----

BATANGAS, LOBO PROJECT
SOUTHWEST BRECCIA LONGITUDINAL PROJECTION, G/T x Thickness Contour
B B’ Batangas
Projects
TR-2
210.1
LB65-11
OC channel 36.2
TR-1 159.2
170m 358.2
ASL
LB64-11
54.59
LB62-11
150 92.23
LB59-11
13.8
? LB58-11
59.4 MAP KEY
LB60-11 LB61-11 TR Trench
19.3 67.5
OC Outcrop
LB-20 Drill hole number
100 79.5
Gold grade g/t x true
vein width in meter
> 50
20 – 49
LB63-11
27.89 10 – 19
?
50
LB61-11
? Drill hole (2011)
Open at Depth
20m
14
10,100N 10,125N 10,140N 10,155N 10,172N 10,185N 10,200N 10,215N
----- End of picture text -----

SOUTHWEST BRECCIA CROSS SECTION 10155N

==> picture [643 x 414] intentionally omitted <==

----- Start of picture text -----

10,000E
9,950E 4.90m @ 11.1 g/t Au Batangas
inc. 2.0m @ 21.1 g/t Au Projects
LB64-11,
160
ASL
LB58-11,
LB63-11,
LB60-11, 20.75m
140
25.20m
16.13m @ 7.75 g/t Au
120
40.50m MAP KEY
9.05m @ 6.56 g/t Au
43.9m inc. 5.0m @ 11.27 g/t Au Quaternary colluvium
100
Quaternary agglomerate
9.0m @ 2.14 g/t Au Quartz - barite - pyrite vein breccia
inc. 2.0m @ 6.06 g/t Au
Quartz - pyrite ± clay alteration
80
Clay - pyrite - quartz ± chlorite ±
magnetite alteration
Quartz - clay - pyrite alteration
60 56.2m @ 4.24 g/t Au Propylitized andesite wallrock
Inc. 7.71m @ 28.4 g/t Au (chlorite - clay - pyrite ± quartz ±
calcite ± magnetite)
109.10m
40 Fault gouge
LB-25
18.35m @ 1.52 g/t Au Drill hole
inc. 1.0m @ 5.72 g/t Au Mineralized intercept
Inc. 1.0m @ 5.25 g/t Au End of hole
75m
20m
138m
----- End of picture text -----

15

SOUTHWEST BRECCIA CROSS SECTION 10172N

==> picture [643 x 414] intentionally omitted <==

----- Start of picture text -----

Trench: 11m @ 19.1 g/t Au
9,950E 10,000E Batangas
13.3m @8.30 g/t Au LB65-11 Projects
180m
ASL 8.0m @ 8.82 g/t Au
inc. 3.0m @ 15.4 g/t Au 11.90m
LB62-11 7.75m @ 4.67 g/t Au
160 LB61-11 inc. 1.95m @ 11.8 g/t Au
17.4m @ 9.60 g/t Au
140
30.25m MAP KEY
Quaternary agglomerate
120 32.2m @ 9.50 g/t Au 52.25m 69.40m Quartz - barite - pyrite vein breccia
57.30m 7.45m @ 12.4 g/t Au Quartz - pyrite ± clay alteration
inc. 5.30m @ 15.6 g/t Au
Clay - pyrite - quartz ± chlorite ±
100 magnetite alteration
57.60m Quartz - clay - pyrite alteration
8.3m @ 6.30 g/t Au
Propylitized andesite wallrock
80 (chlorite - clay - pyrite ± quartz ±
104.50m calcite ± magnetite)
85.00m 6.7m @ 10.7 g/t Au Fault gouge
inc. 3.7m @ 18.0 g/t Au
60 LB-07
Drill hole
Mineralized intercept
End of hole
40 75m
14.0m @ 1.67 g/t Au
20m
129.10m
----- End of picture text -----

16

==> picture [720 x 489] intentionally omitted <==

----- Start of picture text -----

PORPHYRY COPPER-GOLD: TAPIAN-SAN FRANCISCO
BATANGAS
Luzon
SURIGAO CITY
Manila
Mindanao Sea
PAN DE
AZUCAR
Masapelid
SURIGAO
PROJECTS Mindanao
Epithermal gold and
porphyry copper-
gold mines of MMC MAP KEY
TAPIAN SAN FRANCISCO
(TSF) PROJECT Tenements
Extensive Porphyry-related
TSF alteration (hi-temp propylitic,
alteration, copper-gold
argillic, phyllic, potassic)
showings, IP geophysics
SILANGAN (Boyongan-Bayugo) Major porphyry copper-gold
Philex Mining, in feasibility discovery
Resource contains 5b lbs Cu, 9moz Au
Porphyry copper-gold prospects
Copper-gold / gold mine or
SIANA PROJECT –
significant prospect
Red 5 (ASX)
Other copper-gold or gold
In production for 85k oz pa prospect
Lake
Fault
Mainit
N
0 10 km
PHILIPPINE
FAULT ZONE
----- End of picture text -----

17

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Key value-driving milestones for 2012/13
----- End of picture text -----

Milestone	Objective	Timing
Archangel gold resource drilling	Drill test “feeder” structures and upgrade and define resources	Q3/4 2012
Batangas gold resource upgrade	Significant gold resource increase	Q1 2013
Drill Porphyry Copper-Gold Targets	Breakthrough Cu-Au discovery	Q2 2013
Batangas gold scoping study	Viable gold project for Feasibility	Q2 2013
Next Steps, subject to delivery of above: • Batangas Gold: Increase resource, commence FS and permitting • Porphyry Targets: Drill definition of key discovery

18

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Indicative transaction timetable
----- End of picture text -----

Timetable	Date
Completion of due diligence by Mindoro and Red Mountain Mining	12 June
Execute Agreements (binding)	14 June
Mindoro AGM	28 June
Red Mountain Mining Meeting Documents dispatched	29 June
Red Mountain Mining Shareholder Meeting	31 July
Completion of Sale under Agreements (Satisfaction of Conditions Precedent and issue of Consideration Securities, etc)	8 August

19

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

In summary...
----- End of picture text -----

• Company transforming transaction

– assets in mineral rich districts of Philippines

• Highly prospective gold exploration resource projects

• with further exploration potential

• Established mining and exploration licences in place

• Existing cash reserves to enhance acquired resources

• Strong board and highly skilled exploration team

20

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Contact details
----- End of picture text -----

Neil Warburton, Executive Chairman & Acting CEO E: neil.warburton@redmm.com.au M: +61-408 935 014

Investor relations – Ronn Bechler E: ronn.bechler@marketeye.com.au M: +61-400 009 774

Red Mountain Mining head office Suite 1, 2 Richardson Street West Perth WA 6005

P: +61-8 9226 5668 F: +61-8 9486 8616

E: info@redmm.com.au W: www.redmm.com.au

21

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Qualified Person statement
----- End of picture text -----

Mindoro’s Resource Statements are NI 43-101 and JORC Compliant. Jon Dugdale, the CEO and a director of Mindoro Resources and a member of the AusIMM, is a Competent Person as defined by the JORC Code, has more than five years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken, and has reviewed and verified the Mineral Resource statements contained in this news release.

Mindoro’s exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 and is a Competent Person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release. Mr Climie is an executive and a director of Mindoro and is a member of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr Climie has more than five years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken. Mr Climie has consented to the release of the pertinent exploration related technical information in the form and context in which it appears.

22

==> picture [720 x 114] intentionally omitted <==

----- Start of picture text -----

Disclaimer
----- End of picture text -----

The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions.

This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law. This presentation is not an offer of securities for sale in the United States, nor does this presentation constitute a prospectus or other offering document in the United States or any other jurisdiction in which it is being used. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration there from.

In providing this presentation, Red Mountain Mining has not considered the financial position or needs of the recipient. Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial and legal advisors. These statements are 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” 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 caution shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Red Mountain Mining only as of the date of this presentation. The forward-looking statements made in this presentation 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.

23

Suite 1, 2 Richardson Street. West Perth, Western Australia, 6005 T +61 (08) 9226 5668 F +61 (08) 9486 8616 www.redmm.com.au