RED MOUNTAIN MINING LIMITED — Investor Presentation 2015

Aug 2, 2015

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RED MOUNTAIN MINING LTD (ASX:RMX) LUNCHEON BRIEFINGS CORPORATE PRESENTATION Sydney, 4 August and Melbourne 5 August – 2015 Dual Strategy for Low Cost Gold Development and High-Grade Discovery at the Batangas Gold Project in the Philippines

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122g/t Au 2.6m @ 28.6 g/t Au
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DISCLAIMER

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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.

This presentation 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 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.

The production targets referred to in this announcement were first released to ASX on 20 November 2014 and updated on 23 January 2015. They are preliminary and there is no certainty that the production targets or the forecast financial information derived from the production targets, will be realised. All material assumptions underpinning production targets or forecast financial information derived from production targets continue to apply and have not materially changed.

The information in this report relating to Mineral Resources and 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 and 2012 Editions 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. For the information relating to Mineral Resources and post December 2013 Exploration Results, the Company confirms that the form and context in which the information is 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. The Mineral Resources in this presentation have been updated to comply with the JORC Code 2012 (ASX release 30 June 2014). All material assumptions and technical parameters underpinning the Mineral Resource estimates continue to apply and have not materially changed. For the information in this report relating to pre December 2013 Exploration Results, Mr Dugdale takes responsibility for and 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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THE PHILIPPINES: A GOLDEN OPPORTUNITY

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Far SE Cu-Au
Didipio Cu-Au
(Gold Fields)
(Oceana)
Runruno Au-Mo
(Metals Ex)
Manila
Philippines
Batangas
Red Mountain’s Masbate (B2Gold)
200koz pa
Batangas Gold
Project
Sianna (Red 5)
Co-O (Medusa), 80koz pa
• Outstanding prospectivity for gold and copper-gold
Tampakan
• Good mining laws, “grandfathered” on existing MPSA’s
(Xtrata/Indophil)
• Major low-cost mines including Masbate, Co-O and Didipio
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RED MOUNTAIN’S DUAL STRATEGY:

TO ESTABLISH LOW COST PRODUCTION & GROW WITH DISCOVERY

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1. Established resources: 444,000 ounces* of gold, including 221,000 t @ 6.3 g/t Au high grade Indicated Resource at South West Breccia, Lobo. With upside exploration potential for additional high-grade and options on low grade processing.

2. Batangas Gold Project Development: Definitive Feasibility Study (DFS) and final permitting well advanced for initial high grade, low cost, open pit, 100,000oz gold mining and processing project.

3. Immediate discovery potential to increase high-grade resources (and mining reserves for DFS):

• New footwall lode discovery at South West Breccia, Lobo, including trench intersections: Trench 39: 2.1m @ 14.4 g/t Au, Trench 38: 3.0m @ 12.1 g/t Au (ASX release 11 June 2015),

• New Tamarind target, strong and large multi-element soil anomaly: in the footwall of “Limestone” Lode , (Trench 34: 3.5m @ 25.9 g/t Au, Trench 13: 2.6m @ 28.6 g/t Au, ASX release 7 January 2014),

• Drilling planned to commence as soon as possible.

4. Strategic Financing Partnership: two stage financing from Bluebird Merchant Ventures:

• Stage 1: USD 1 million to fund DFS, Permitting, earn Bluebird 15%

• Stage 2: USD 4.5 million to fund initial development, earn Bluebird 50%

*JORC 2012 Indicated and Inferred resource 6.19 mt at 2.2 g/t Au, 444,000oz Au released on ASX 30 June 2014

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KEY MILESTONES AND OBJECTIVES:

TO ESTABLISH LOW COST PRODUCTION THEN GROW WITH DISCOVERY

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1. Deliver Feasibility Study (DFS) – main inputs close to complete, targeting Q3/4

2. Complete the Permitting Process:

• Environmental compliance Certificate (ECC) - final responses to Environmental Management Bureau (EMB) to allow a recommendation to be finalised for approval, targeting Q3.

• Declaration of Mining Feasibility (DMF) – key inputs finalised, to be processed after ECC, final approval to commence development, targeting Q4

3. New Resource/Reserve Discovery:

• Key breakthrough: New footwall lode discovery at SWB, drilling planned during Q3

• New resource upgrade for SWB trend, Lobo, with early mining and toll processing/ore sales potential. Targeting Q3/4

• Test multiple epithermal structures at Lobo, 15km strike length, 1km tested to date

*JORC 2012 Indicated and Inferred resource 6.19 mt at 2.2 g/t Au, 444,000oz Au released on ASX 30 June 2014

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BATANGAS GOLD PROJECT:

MINERAL RESOURCES AND PLANNED PROJECT INFRASTRUCTURE

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120km to Manila
20km to Batangas
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*JORC 2012 Indicated and Inferred resource 6.19 mt at 2.2 g/t Au, 444,000oz Au released on ASX 30 June 2014

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BATANGAS GOLD PROJECT, ROBUST POTENTIAL RETURNS: ¹DFS PRELIMINARY RESULTS JANUARY 2015, LOW COST, HIGH IRR

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• DFS is on initial production of >100,000oz gold over 5 years from only high-grade, open-pit, Indicated Resources

• Low operating costs (pre taxes, charges and capital costs) of ¹ US$703/oz Au (A$873/oz Au)

• Strong projected operating cash flow including taxes/royalties of > ¹A$51m, and free cash flow of >¹A$30m over initial 5.2 years of potential 10 years project. High Rate of Return, >50% at current gold price (A$1,500/oz, 2/8/15)

• Pre production capital of only ¹A$18.4 million (US$15 million) including A$15 million installed capital

	Cashflow at Varied Gold Price	Cashflow at Varied Gold Price	Cashflow at Varied Gold Price
Gold Price AUD (AUD/USD: 0.73)	$1,500	$1,600	$1,760
Gold Price USD	$1,100	$1,170	$1,285
Gold Production Recovered Oz Equ.	100,000	100,000	100,000
Net Revenue AUD(x M)	152	165	182
Operating Costs Inc. taxes, royalties AUD(x M)	97	98	98
Operating Cash flow AUD x M	55	67	84
Pre production Capital inc.10% cont. AUD(x M)	18.4	18.4	18.4
Sustaining Capital AUD x M	4.3	4.3	4.3
Total Cash Flow exc. financing AUD x M (C3)	32	45	61
IRR (inc. financing)	50%	65%	83%
NPV (8%) (inc. financing) AUD (x M)	20	28.5	40.4

¹Based on interim DFS financial model update released to ASX 23 January 2015

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SOUTH WEST BRECCIA PLANNED MINE HIGH GRADE RESOURCES, PIT DESIGNS (YEARS 1 – 2) AND TARGETS

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South West Breccia resource – ¹221,000t @ 6.3 g/t Au,
Incl. 174,000t @ 6.8 g/t Au in pit mining inventory
Trench 13: ²2.6m @ 28.6 g/t Au,
33.5m @ 25.9 g/t Au
then limestone cover
Footwall Targets
Purple resource blocks = >5 g/t Au
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¹JORC 2012 Indicated and Inferred resource 6.19 mt at 2.2 g/t Au, 444,000oz Au released on ASX 30 June 2014 ²ASX release 7 January 2014;[3] ASX release 7 January 2015

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LOBO: STAGE 1, YEARS 1 & 2 OPEN PIT MINING OF HIGH GRADE SOUTH WEST BRECCIA OREBODY

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ARCHANGEL: LARGE STOCKWORK RESOURCES WITH EXCELLENT METALLURGY OPEN PIT PRODUCTION PLANNED STAGE 1 YEARS 3 - 5 (STAGE 2 YRS 6 - 10)

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LOBO PROSPECT: OUTSTANDING EXPLORATION POTENTIAL HIGH-GRADE OUTCROPPING RESOURCES AND BURIED TARGETS

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Targets:
5 1. SWB Extension, Limestone
4 2. Signal – HG outcrop
3. Camo – buried target
3
4. West Drift - gold resources
5. Pica – gold intersections
6. Ulupong – HG trenching
1
2
6
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LOBO: SWB, RECONSTRUCTED SECTION

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?
?
?
?
Remnant Silica Cap
?
? LB65-11
180m Trench: 9.5m @ 13.5 g/t Au
v
ASL ?
Eroded Lode
11.9m
LB62-11 7.75m @ 4.67 g/t Au
160 LB61-11 v
13.3m @8.3 g/t Au
λ MAP KEY
140
30.25m 17.4m @ 9.6 g/t Au Agglomerate
λ
Silica cap
120 λ 52.25m λ λλλλ v 69.4m 8m @ 8.82 g/t Au Quartz - barite - pyrite vein breccia
57.3m
Quartz - pyrite ± clay
7.45m @ 12.4 g/t Au
100 alteration
v
57.6m Quartz - clay - pyrite
8.3m @ 6.3 g/t Au alteration
λ
v
80 Propylitized andesite
104.50m 6.7m @ 10.7 g/t Au wallrock (chlorite - clay –
85m inc. 3.7m @ 18 g/t Au pyrite ± quartz ± calcite
± magnetite)
60
Fault gouge
32.2m @ 9.5 g/t Au
v
LB-07
v
Drill hole
40
Mineralized intercept
14m @ 1.67 g/t Au 20m End of hole
75m
129.1m
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*All results pre 2012

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LOBO: SOUTH WEST BRECCIA, NEW FOOTWALL LODE

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LOBO: SWB 500M CORRIDOR, SWB CROSS SECTION

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*All results pre 2012

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LOBO: SWB 500M CORRIDOR, FOOTWALL TARGET, Silver

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LOBO: SWB 500M CORRIDOR, FOOTWALL TARGET, Barite

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LOBO: SWB 500M CORRIDOR, TAMARIND CROSS SECTION

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LOBO: SOUTH WEST BRECCIA LONGITUDINAL PROJECTION HIGH GRADE REOURCES AND BURIED TARGETS YET TO BE DRILLED

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COMPANY STRUCTURE

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Red Mountain Mining Ltd	ASX: RMX	Red Mountain Mining Head Office: Unit 1, 2 Richardson Street West Perth WA 6005 P: +61 8 9226 5668 F: +61 8 9322 1474 info@redmm.com.au www.redmm.com.au Share Price Volume	Share Price Volume
Listed Shares (11 March 2015)	1.185 bn
Listed Options RMXOA 3c, 30/6/16 Options (RMXO) 1.2c 31/03/16 Options (RMXOD) 0.6c 30/6/16	128,501,977 270,987,597 287,882,728
Unlisted Options 20c, 15/9/16	15,000,000
Performance Rights vesting at 5cps Performance Rights vesting at 10cps Performance Rights vesting at 15cps	7,000,000 10,500,000 10,500,000
Top 20 shareholders	~25%
Share price (31/06/2015)	0.4 cps
Market Capitalisation (@ 0.4 cps)	$5 million
Cash on hand (31/06/2015), no debt	$0.6m Cash, $0.7m due BMVL
Major Shareholders	M.Pishas 5.0% HNW, German 2.2% Directors 2.2%
Number of Shareholders (31/05/2015)	~1,600

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KEY MILESTONES AND OBJECTIVES:

TO ESTABLISH LOW COST PRODUCTION THEN GROW WITH DISCOVERY

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1. Deliver Feasibility Study (DFS) – main inputs close to complete, targeting Q3/4

2. Complete the Permitting Process:

• Environmental compliance Certificate (ECC) - final responses to Environmental Management Bureau (EMB) to allow a recommendation to be finalised for approval, targeting Q3.

• Declaration of Mining Feasibility (DMF) – key inputs finalised, to be processed after ECC, final approval to commence development, targeting Q4

3. New Resource/Reserve Discovery:

• Key breakthrough: New footwall lode discovery at SWB, drilling planned during Q3

• New resource upgrade for SWB trend, Lobo, with early mining and toll processing/ore sales potential. Targeting Q3/4

• Test multiple epithermal structures at Lobo, 15km strike length, 1km tested to date

*JORC 2012 Indicated and Inferred resource 6.19 mt at 2.2 g/t Au, 444,000oz Au released on ASX 30 June 2014

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RED MOUNTAIN MINING (RMX) A GOLDEN OPPORTUNITY

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Red Mountain Mining Head Office: Unit 1, 2 Richardson Street West Perth WA 6005

P: +61 8 9226 5668 F: +61 8 9322 1474 info@redmm.com.au www.redmm.com.au

Red Mountain’s Batangas Gold ProjectGold

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