REDIVIUM LIMITED — Capital/Financing Update 2011

Oct 31, 2011

ASX Announcement / Media Release 1 November 2011

Jigalong Project Manganese – RC and Diamond Drilling Update

by Don Huntly, Exploration Manager

HIGHLIGHTS:

• RC Drilling at Hill 616 and Dead Camel has recently been completed.
• Holes confirm shallow, gently dipping, laterally extensive Manganese mineralisation across the Hill 616 prospect that is open in both directions along strike.
• All corresponding RC samples now submitted to ALS laboratories for assaying with first round of results expected in early November.
• Diamond drilling program now underway at the Hill 616 prospect.
• 2.6 Metre zone of massive Manganese mineralisation intersected in diamond hole JDDH01.
• Selected samples from the diamond core to be used in metallurgical beneficiation test work during the coming quarter.
• Other field activities, including surface mapping and reconnaissance sampling, continue across the Jigalong project.

Western Australian minerals exploration company Hannans Reward Ltd (ASX:HNR) is pleased to provide a brief update on its combined RC and Diamond drilling program that is currently underway at the 3,000 km² Jigalong Project, located in the South-East Pilbara region of Western Australia (Figure 1). The drilling has been designed to test two Manganese targets, including the Hill 616 and Dead Camel prospects (Figure 2), which are positioned on the southern portion of the Jigalong tenement package.

Fast Facts

ASX Code: HNR

Capital Structure

Shares on issue:	131.6m
Options on issue:	5m (ex 20c to $1)
Market cap:	$18m (at 13.5c)

Board of Directors

Richard Scallan	Chairman
Damian Hicks	Managing Director
William Hicks	Non-Executive Director
Jonathan Murray	Non-Executive Director

Projects (Western Australia)

Forrestania	Nickel & Gold
QVR	Nickel
Lake Johnston	Nickel & Gold
Jigalong	Manganeseand base metals

The RC drilling component of the program has recently been completed at both the Hill 616 and Dead Camel prospects. A combined total of 189 RC holes were drilled for 5,768 metres, giving an average hole depth of ~30 metres.

All corresponding samples taken from the RC drilling have now been submitted to the ALS Minerals laboratory in Perth for assaying. It is now expected that the first round of assays results will be received in late October or early November.

A diamond drill rig has now arrived on site and begun an 18-hole diamond drilling program at the Hill 616 prospect (Photo 1). The diamond holes have been planned using the data gathered from the RC drilling. Selected RC holes will be twinned with diamond holes to gain 'representative' core samples from across the Prospect. Comprehensive logging of the diamond core will be conducted prior to selected intervals of core being submitted for use in metallurgical beneficiation test work during the coming quarter.

Hill 616

The Hill 616 prospect was the first area to be targeted for RC drilling, with 158 holes completed for 4754 metres. The drilling was conducted over a wide spaced (100m × 200m) grid pattern, which covered a strike extent of approximately 2.6 kilometres (Figure 3).

The mineralisation at Hill 616 was generally found to be shallow (mostly within 20 metres of the surface), gently dipping and laterally extensive across the target area. The primary mineralisation exists dominantly as multiple interbedded seams/bands with varying thickness, hosted within highly weathered shales and clays of the Balfour formation. Manganiferous material was intersected at both the North-West and South-East extents of the area targeted by the drilling, indicating that mineralisation is open along strike to both the North and South. Assay results are still pending, however logging of the drill chips indicates encouraging intervals of Manganese within numerous zones at the prospect.

Initial results from the Diamond drilling have been positive, with a 2.6 metre zone of massive mineralisation encountered within a broader 4.9 metre intersection (5 metres from surface) of Manganiferous material in hole JDDH01(Photo 2). It was noted that the style of mineralisation from this hole appears to differ from the typical multiple banded, shale hosted mineralisation encountered elsewhere within the prospect. Interestingly, this hole is located on the far South-East Corner of the area targeted by the drilling, providing further encouragement that quality mineralisation is open along strike and exists close to surface.

Dead Camel

Dead Camel was subsequently targeted with a further 31 holes completed for 1014 metres. As this was a 'first pass' of drilling for Dead Camel, the holes were drilled in a much more exploratory nature with the 31 holes being broadly spaced over an approximate 2 kilometres of strike extent.

Initial results from the RC drilling at Dead Camel have not been as encouraging as those from Hill 616. The mineralisation intersected appears to occur over narrow intervals and does not have significant lateral extent. The decision has been made to not drill any Diamond holes at Dead Camel and instead increase the amount of Diamond drilling at Hill 616.

Project Objectives and Ongoing Exploration Activities

Selected samples from the diamond drill core will be submitted for metallurgical test work during the coming quarter, the objective of the test work will be to assess the most appropriate pathway for beneficiating the manganese mineralisation.

Other field based activities, including Geological mapping, rock chip and soil sampling, continue to be progressed across the Jigalong project area in search of further Manganese and Base metals occurrences. Upon completion of the current drilling program, a technical review will be conducted to evaluate the data collected to date and help plan the next round of Manganese exploration activities for the 2012 field season.

Photo 1. Diamond drill rig in action at Hill 616

Photo 2 (Composite). Manganese mineralisation from drill core in hole JDDH01

Figure 1. Jigalong Project

Figure 2. Jigalong Project Map showing prospect locations and regional geology

Figure 3. Hill 616 prospect with RC collar and planned Diamond collar locations

Hannans Reward Ltd Summary

Hannans Reward Ltd has developed a suite of prospective exploration projects within Australia covering nickel, gold and manganese; whilst the flagship exploration is the Forrestania nickel project. Hannans is a shareholder of Atlas Iron Ltd. Hannans' shareholders are exposed to share price appreciation through exploration success at the following projects:

• Forrestania nickel & gold project 7km north of Western Area's Flying Fox nickel mine, a portion of the Stormbreaker Prospect includes a Joint Venture with Cullen Resources Ltd (Hannans – 80%, Cullen – 20% free carry).
• Lake Johnston nickel & gold project located 25km south east of Norilsk's Maggie Hays nickel mine and 100kms west of Norseman.
• Queen Victoria Rocks nickel and gold project located 30km south-west of Coolgardie, WA.
• Jigalong manganese & base metals project located 150km east of Newman, WA (proposed to be separated from the Hannans Group subject to shareholder approval).

Competent Persons Summary

The information in this document that relates to exploration results is based on information compiled by Mr Donald Huntly, Exploration Manager who is a Full Member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist. Mr Huntly is a full-time employee with Hannans Reward Ltd. Mr Huntly has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the "Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Huntly consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

For further information please contact:

Don Huntly Exploration Manager Hannans Reward Tel: +61 8 9324 3388

James Harris Professional Public Relations Tel: +61 8 9388 0944