RED MOUNTAIN MINING LIMITED — Share Issue/Capital Change 2013

May 12, 2013

ASX ANNOUNCEMENT

13 May 2013

==> picture [170 x 46] intentionally omitted <==

CANCELLATION OF UNLISTED OPTIONS

Red Mountain Mining Limited (ASX: RMX) (“Red Mountain” or “the Company”) advises that, effective today, 13,840,916 unlisted options held by management and Directors have been cancelled by agreement between the Company and the relevant optionholders, following the Company and optionholders forming the view that the options were no longer aligned with the Company’s objectives and strategy.

Details of the unlisted options cancelled are as follows:

• 2,000,000 options exercisable at 50 cents each on or before 1 July 2016

2,000,000 options exercisable at 25 cents each on or before 1 July 2014

4,420,458 options exercisable at 25 cents each on or before 31 July 2014

4,420,458 options exercisable at 35 cents each on or before 31 July 2016

1,000,000 options exercisable at 20 cents each on or before 30 October 2017

The Company further advises that it will not seek shareholder approval for the 4,000,000 unlisted options proposed to be issued to Managing Director, Mr Jon Dugdale, as detailed in the Company’s ASX announcement of 18 December 2012.

---

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

Company Investors Media Jon Dugdale Kevin Skinner Managing Director Field Public Relations (+61) 402298026 (+61) 414822631 (+61) 8 9226 5668 (+61)8 82349555

---

About Red Mountain Mining Limited

Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘underdeveloped’ gold and polymetallic projects in the greater Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside.

The Company completed the acquisition of significant gold resources and copper gold tenements in the Philippines on 30 October 2012. Since acquisition the company has focussed on upgrading the Batangas resources through discovery of new, high grade, gold zones at Archangel, and Lobo (eg West Drift, Pica, Ulupong). The company will continue drilling with the objective of increasing the size and grade of JORC compliant Mineral Resources at Batangas then completing a scoping study to demonstrate the viability of a potential high-margin gold project development.

Other gold opportunities will be reviewed on a continuous basis.

COMPANY DIRECTORS Neil Warburton Executive Chairman Jon Dugdale Managing Director Keith Rowe Non-Executive Director

Michael Wolley Non-Executive Director Shannon Coates Company Secretary

1

ASX code: RMX ABN 40 119568106

CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au info@redmm.com.au