REDIVIUM LIMITED — Capital/Financing Update 2012

Jun 11, 2012

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12 June 2012

ASX & MEDIA ANNOUNCEMENT

IMPORTANT DRILLING SUCCESS AT KIRUNA IRON PROJECT, SWEDEN

• In-fill JORC resource drilling at Rakkurijoki intersects wide iron mineralisation (115m @ 47% Fe from 316m[1] ) (100% Hannans ownership).

• Exploration drilling at Altavaara intersects very wide low grade iron mineralisation (incl. 241m @ 21% Fe from 17m) - the deposit remains open at depth; metallurgical test work has been initiated to assess the potential to produce a saleable iron product (100% Hannans ownership).

• Exploration drilling at Altavaara intersects high grade gold and copper (3m @ 5.2 g/t Au and 1.3% Cu from 15m); follow up copper-gold exploration is being planned.

• Rakkurijoki and Altavaara are two iron projects within Hannans’ Kiruna Iron Project that comprises a global JORC resource of 473Mt @ 40% Fe[2] plus a JORC Exploration Target of 203-272Mt @ 32-40% Fe[3] .

• As a result of the successful acquisition of Scandinavian Resources Ltd, Hannans shareholders now have ownership of a significant iron project that has a potential pathway to production.

Summary

Hannans’ Kiruna Iron Project, located in northern Sweden contains a number of deposits that are extremely well located with regard to infrastructure (rail, power and services) – the Rakkurijoki Project is located less than 100m from a major road, less than 1km from open access rail and 6km from Kiruna – the Altavaara Project is located less than 650m from the E4 highway and 15km from Kiruna – Kiruna, a mining centre with a population of approximately 18,000 is connected to major ports at Narvik, Norway (180km north-west) and Lulea, Sweden (340km south-east) (see Figures 1 and 2).

Hannans is striving to create a pathway to producing a premium quality iron product by compiling 1 Billion tonnes of iron resources within 80km of Kiruna (home to Europe’s largest iron mine) and developing a central beneficiation facility to process ore from a number of satellite deposits.

1 Estimated average iron grade determined via magnetic susceptibility; formal XRF assays are required to confirm iron grades. 2 Refer ASX Announcement dated 17th January 2012 (Kiruna Iron-JORC Resource Update)

3 The JORC Exploration Targets have been subject to drill testing, ground geophysics and interpretation by the Geological Survey of Sweden and reviewed by Mr Thomas Lindholm of GeoVista AB. The potential quantity and grade of the exploration targets is conceptual in nature, there has been insufficient interpretation to define a JORC Mineral Resource and it is uncertain if further interpretation will result in the determination of a JORC Mineral Resource.

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Important Drilling Success at Kiruna Iron Project

12 June 2012

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Largest iron mine in Kiruna mining centre,
Europe (refer LKAB.se) population ~18,000
Kiruna ~6 km
Hannans drill rig,
May 2012
Open access rail
~1km
Figure 1: Aerial photograph taken in may 2012 showing the
Rakkurijoki Project’s close proximity to Europe’s largest iron mine
Kiruna
Open access ~6km
rail ~1km
Major road Major power lines
----- End of picture text -----

Figure 1: Aerial photograph taken in may 2012 showing the Rakkurijoki Project’s close proximity to Europe’s largest iron mine

Figure 2: Aerial photograph taken in May 2012 showing active drilling and the Rakkurijoki Project’s close proximity to power, road and rail.

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Important Drilling Success at Kiruna Iron Project

12 June 2012

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Figure 3: Iron Prospects, Kiruna District, Sweden

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Figure 4: Major Scandinavian Iron Mines

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Important Drilling Success at Kiruna Iron Project

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KIRUNA IRON PROJECT

Hannans is striving to compile 1 Billion tonnes of iron resources within 80km of the Kiruna mining centre (home to Europe’s largest iron mine), develop a central facility to process ore from a number of satellite deposits and then produce a premium quality iron concentrate.

The Kiruna Iron Project is extremely well located with regard to infrastructure (rail, power and services) the flagship Rakkurijoki Project is located less than 100m from a major road, less than 1km from rail and 6km from Kiruna. The Altavaara Project is located less than 650m from the E4 highway and 15km from Kiruna.

Rakkurijoki Project

The current JORC compliant mineral resource estimate (inferred) for the Rakkurijoki deposit is 74.5Mt @ 39.7% Fe[4] and forms part of a global JORC compliant mineral resource estimate of 473Mt @ 40% Fe for the Kiruna Iron Project.

Diamond drilling at the Rakkurijoki Project re-commenced late in March 2012 where an infill programme is now underway. The infill drilling program is being conducted on 100m drill sections and will comprise approximately 13,000m with the aim of converting the current JORC inferred resource to the indicated category.

The JORC inferred resource contemplates potential open pit mining methods.

The primary reason for drilling the latest deep hole (RJ012022 end of hole 612m) was to test the footwall characteristics for geotechnical studies. If however the width and grade of the iron mineralisation continues to increase at depth (as indicated by drilling completed during May and the preliminary results highlighted below) it is conceptually possible that potential mine life could be extended at the cessation of open pit operations, through the commencement of an underground operation.

• Recently received iron results from diamond drilling at Rakkurijoki include: o 44m @ 42.3% Fe (RJO11008)

• 35m @ 44.7% Fe (RJO11010)

• Preliminary[5] iron results from Rakkurijoki diamond drilling include:

• 75m @ 47.3% Fe (RJO12015)

• 53m @ 43.6% Fe (RJO12020)

• 115m @ 46.8% Fe (RJO12022)

Preliminary environmental and social impact studies have also commenced and will continue throughout 2012 in addition to desktop mining studies.

Drilling Summary - Rakkurijoki Project

		No. of Holes Drilled by
	Project	KIAB	Year Drilled	Metres Drilled	Comments
	Rakkurijoki	8	2011	3083	Phase 1
	Rakkurijoki	2	2011	883	Phase 2 Infill Drilling
	Rakkurijoki	13	2012	4263	Phase 2 Infill Drilling
	TOTAL (to date)	23		8229

4 Refer ASX Announcement dated 17th January 2012 (Kiruna Iron-JORC Resource Update)

5 Estimated average iron grade determined via magnetic susceptibility; formal XRF assays are required to confirm iron grades.

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Figure 5: Drilling contractor (Protek) discussing iron mineralisation with Mr Lewis Wild (Geologist)

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Figure 6: Rakkurijoki drillhole location plan showing cross-section profiles (green)

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Figure 7: Rakkurijoki oblique drill section C-C’

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Figure 8: Rakkurijoki oblique drill section D-D’

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Important Drilling Success at Kiruna Iron Project

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The infill drilling program has provided a much greater understanding of the iron mineralisation at the Rakkurijoki Project with the geological models continuing to evolve with each new drillhole. The onsite geologists are now recognising the importance the mafic and intermediate dykes penetrating not only the hanging-wall meta-aranite and the mafic tuff foot-wall but also the magnetite ore itself; the geometry of a wide intermediate porphyry intrusive, which intrudes the magnetite ore, appears to be controlling the width of magnetite mineralisation (see cross sections C-C’ and D-D’ above).

Newly received assays from the Rakkurijoki Project continue to confirm that the deposit contains good widths and grades of iron mineralisation.

					From
Hole ID	Northing (RT90)	Easting (RT90)	Dip	Azimuth	(m)	To (m)	Intercept	Fe %
RJO11008	7527665	1686590	-64	321	421.5	428.7	7.2	33.5
					443	487	44	42.3
RJO11009	7527760	1686262	-60	317	231.5	239.1	7.6	45.5
					262.9	270.5	7.5	49.7
					289.8	344.2	54.4	25.4
RJO11010	7527704	1686306	-66	320	314.4	337.7	23.3	27.5
					370.9	405.9	35	44.7
					431.8	446.3	14.5	33.1

All samples submitted to ALS Laboratories (Brisbane) for ME-XRF15b for iron analysis and ME-ICP61 for all other elements.

Preliminary iron grades[6] , calculated from magnetic susceptibility measurements, are also presented below from holes completed over the past two months at the Rakkurijoki Project. Formal XRF assays are expected over the coming months.

Hole ID	Northing (RT90)	Easting (RT90)	Dip	Azimuth	From (m)	To (m)	Intercept	Fe %
RJO12011	7527698	1686063	-53	319.5	135	145	10	55.4
					155	190	35	37.3
RJO12012	7527570	1685916	-47	320.8	NSA
RJO12013	7527526	1685952	-58	318.8	41	57	16	38.5
RJO12014	7527493	1685980	-65	320.6	NSA
RJO12015	7527660	1686096	-62	318.3	190	265	75	47.3
RJO12016	7527642	1685986	-49	320.0	41	51	10	49.1
					58	63	5	42.8
					67	78	11	34.3
					85	91	6	26.6
RJO12017	7527556	1686054	-66	320.5	185	207	22	43.4
					223	259	36	28.5
RJO12018	7527758	1686134	-53	313.9	154	168	14	50.6
					172	201	29	44
RJO12019	7527481	1686115	-67	312.7	383	389	6	46.5
					403	418	15	41.3
					428	447	19	48.7
RJO12020	7527724	1686167	-57	315.3	162	169	7	48.1
					206	259	53	43.6
RJO12021	7527642	1686232	-56	320	Pending
RJO12022	7527580	1686164	-70	320	316	431	115	46.8
					436	441	5	43.4
					445	452	7	43.2
RJO12023	7527642	1686232	-70	320	346	354	8	31.7
					426	460	34	40.1

6 Estimated average iron grade determined via magnetic susceptibility; XRF assays required to confirm iron grades.

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Altavaara Project

Assay results from thirteen diamond drill holes completed at the Altavaara Project in December 2011 have been received with very wide, low grade iron mineralisation intersected; the majority of the drill holes ended in iron mineralisation.

• Diamond drilling at the Altavaara Project produced wide, low grade iron results:

• 241.2m @ 21.5% Fe (ALT11003)

• 116.7m @ 21.8% Fe (ALT11004)

• 93.7m @ 22.8% Fe (ALT11006)

• 147.5m @ 23.7% Fe (ALT11011)

• 117.6m @ 25.2% Fe (ALT11013)

• Diamond drilling at the Altavaara Project returned a copper-gold intercept: of:

• 3m @ 5.2ppm Au & 1.3% Cu from 15m (ALT11006)

Prior to completing additional drilling, preliminary metallurgical testwork (Davis Tube Recovery) will be carried out on samples from Altavaara to determine if the iron mineralisation can be upgraded to saleable specifications. If the results are favourable the next round of drilling at Altavaara will be aimed at establishing a maiden JORC inferred resource.

The Altavaara mineralisation is geologically different to all of the other deposits in the Kiruna Iron portfolio and therefore requires detailed additional examination.

Hole ID	Northing (RT90)	Easting (RT90)	Dip	Azimuth	From (m)	To (m)	Intercept	Fe %
ALT11001	7534131	1701424	-57.0	72.1	13.4	137.1	123.7	20.5
ALT11002	7533356	1701337	-50.0	69.6	38.0	134.0	96.0	16.0
					166.0	174.0	8.0	26.9
ALT11003	7534019	1701347	-56.8	77.7	17.2	258.5	241.2	21.5
				inc.	17.2	38.8	21.6	26.0
					60.4	75.1	14.8	30.2
					211.9	252.8	40.9	27.0
ALT11004	7534066	1701248	-54.1	68.5	206.0	322.7	116.7	21.8
ALT11005	7533471	1701283	-50.8	69.1	83.7	149.5	65.8	16.9
ALT11006	7533823	1701342	-40.9	77.3	19.2	112.9	93.7	22.8
				inc.	26.6	62.2	35.7	25.6
					91.9	112.9	21.0	26.7
ALT11007	7533448	1701234	-50.4	70.4	143.0	207.4	64.4	16.8
ALT11008	7533766	1701302	-52.9	67.5	69.0	186.8	117.8	20.0
ALT11009	7533341	1701290	-49.7	69.8	105.0	173.6	68.6	16.6
ALT11010	7533687	1701329	-50.9	75.7	80.0	109.6	29.6	23.1
					126.4	162.2	35.8	27.9
ALT11011	7533976	1701419	-53.7	71.4	34.5	182.0	147.5	23.7
				inc.	106.9	153.0	46.1	30.1
ALT11012	7534083	1701543	-53.4	250.4	14.3	129.3	114.9	23.1
ALT11013	7534042	1701440	-42.9	72.4	8.9	126.4	117.6	25.2
					132.8	143.3	10.5	29.3

All samples submitted to ALS Laboratories (Brisbane) for ME-XRF15b for iron analysis and ME-ICP61 for all other elements.

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Important Drilling Success at Kiruna Iron Project

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Drillhole ALT11006 has intercepted copper and gold mineralisation (3m @ 5.2ppm Au and 1.3% Cu) at a shallow depth of 15m. The copper-gold mineralisation (chalcopyrite & bornite) was located within strongly altered mafic volcanics; namely potassic and silica alteration. Whilst the copper-gold mineralisation was unexpected at the Altavaara Project the Kiruna District is highly prospective for copper-gold mineralisation and is classified as an IOCG province. Despite the primary focus being bulk commodities every prospect is approached with the view it has the potential to host significant precious and base metal mineralisation in addition to iron. The copper-gold target will be refined with additional exploration techniques prior to further drill testing.

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Figure 9: Copper mineralisation (chalcopyrite) in altered (k-feldspar) mafic volcanics-ALT11006.

				Azimut				Au
Hole ID	Northing (RT90)	Easting (RT90)	Dip	h	From (m)	To (m)	Intercept	ppm	Cu %
ALT11006	7533823	1701342	-40.9	77.3	15	18	3	5.2	1.3

All samples submitted to ALS Laboratories (Piteå) for Au-AA23 for gold analysis and ME-ICP for all other elements.

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HANNANS SUMMARY

Hannans Reward Ltd holds a global portfolio of mineral assets in Sweden, Norway and Australia. Hannans has a dual strategy focused on creating a pathway to production for the Kiruna Iron Project in Sweden, supplemented with precious and other base metals exploration in Sweden, Norway and Australia.

Sweden & Norway

• Flagship Kiruna Iron Project is 30km from the 2Bt Kiruna iron mine (owned by LKAB) – the world’s largest and most modern underground iron mine.

• Pipeline of projects covering gold, copper-gold and lead-zinc prospects in Sweden and Norway.

Australia

• Forrestania – nickel & gold project 7km north of Western Area’s Flying Fox nickel mine

• Lake Johnston – nickel & gold project located 25km south east of Norilsk’s Maggie Hays nickel mine and 100kms west of Norseman, Western Australia.

• Queen Victoria Rocks – nickel and gold project located 30km south-west of Coolgardie, Western Australia.

• Jigalong – base metals project located 150km east of Newman, Western Australia

For further information please contact:

Damian Hicks Ben Della-Vedova Managing Director Business Development Manager Hannans Reward Ltd Hannans Reward Ltd Tel: +61 8 9324 3388 Tel: +61 8 9324 3388

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

Competent Persons Summary

The information in this document that relates to exploration results is based on information compiled by Ms Amanda Scott, Exploration Manager, Scandinavian Resources Ltd, who is a Member of the Australian Institute of Mining and Metallurgy. Scandinavian Resources is a subsidiary of Hannans Reward Ltd and Ms Scott is a full-time employee of Scandinavian Resources Ltd. Ms Scott 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”. Ms Scott consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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APPENDIX A

JORC Compliant Indicated Mineral Resource Table HUB 1- KIRUNA HUB

Prospect	Mt	Fe (%)	P (%)	S (%)
Sautusvaara South	32.0	37.4	0.06	1.63
Sautusvaara North	11.4	39.7	0.09	0.44
Ekströmsberg	30.4	52.0	Unavailable	Unavailable
TOTAL	73.8	43.0	-	-

JORC Compliant Inferred Mineral Resource Table HUB 1-KIRUNA HUB

Prospect	Mt	Fe (%)	P (%)	S (%)
Rakkurijärvi	69.6	28.5	0.07	0.93
Rakkurijoki	74.5	39.7	0.28	0.89
Discovery Zone	10.9	38.7	0.05	0.95
Tributary Zone	4.9	28.6	0.05	1.08
Sautusvaara South	6.8	26.6	0.09	1.82
Sautusvaara North	1.0	44.8	0.05	0.46
Vieto	14.0	35.7	0.14	1.46
Puoltsa	19.1	30.2	0.025	0.01
Renhagen	26.3	32.1	0.23	0.03
Harrejaure	16.2	43.4	0.04	0.01
Ekströmsberg	41.6	52.0	Unavailable	Unavailable
Tjårrojåkka	52.6	51.0	Unavailable	Unavailable
Pattok	62.4	44.2	1.96	Unavailable
TOTAL	399.9	38.1	-	-
TOTAL		Mt		Ave Fe (%)
Indicated & Inferred		473.7		40.5

JORC Compliant Exploration Targets Table

Kiruna Hub
Prospect	Tonnage Range(Mt)	Grade Range(Fe%)
Åkosjegge	10-15	23-30
Altavaara	55-60	26-29
Laukkujärvi	4-8	30-35
Leppäjoki	5-8	35-45
Tjåorika	15-30	45-55
Total Hub 1	89-121	31.8-38.8
Lannavaara Hub
Prospect	Tonnage Range(Mt)	Grade Range(Fe%)
Kevus	35-45	28-35
Paljasjärvi	40-60	30-40
Teltaja	39-47	40-48
Total Hub 2	114-152	32-41
TOTAL	Mt	Fe (%)
Hub 1 & 2	203-273	32.1-39.6

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Competent Persons Statement-Rakkurijärvi, Rakkurijoki, Discovery, Tributary Zone, and Puoltsa Mineral Resources

The mineral resource estimate for Rakkurijärvi, Rakkurijoki, Discovery, Tributary Zone and Puoltsa is effective from 13 January 2012 and has been prepared by Mr Thomas Lindholm, MSc of GeoVista AB, Luleå, Sweden acting as an independent “Competent Person”. Mr Lindholm is a member of the Australasian Institute of Mining and Metallurgy (Member 230476). Mineral resources of the Rakkuri iron deposits have been prepared and categorised for reporting purposes by Mr Lindholm, following the guidelines of the JORC Code. Mr Lindholm is qualified to be a Competent Person as defined by the JORC Code on the basis of training and experience in the exploration, mining and estimation of mineral resources of gold, base metal and iron deposits.

Competent Persons Statement-Ekströmsberg, Tjårrojåkka and Pattok Mineral Resources

The mineral resource estimate for Ekströmsberg, Tjårrojåkka, and Pattok is effective from 22 July 2011 and has been prepared by Dr Christopher Wheatley of Behre Dolbear International Ltd, UK, acting as an independent “Competent Person”. Dr Wheatley is a member of the Institute of Materials Minerals and Mining (Member 450553). Mineral resources of the Ekströmsberg, Tjårrojåkka, and Pattok have been prepared and categorised for reporting purposes by Dr Wheatley, following the guidelines of the JORC Code. Dr Wheatley is qualified to be a Competent Person as defined by the JORC Code on the basis of training and experience in the exploration, mining and estimation of mineral resources of gold, base metal and iron deposits. Dr Wheatley consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Competent Persons Statement-Vieto, Sautusvaara, Renhagen and Harrejaure Mineral Resources

The mineral resource estimate for Vieto and Sautusvaara is effective from 26 July 2011 and the mineral resource estimate for Renhagen and Harrejaure is effective from 13 January 2012 and has been prepared by Mr Geoffrey Reed of Minarco-MineConsult acting as an independent “Competent Person”. Mr Geoffrey Reed is a member of the Australasian Institute of Mining and Metallurgy (CP)(Member 205422). Mineral resources of Vieto, Sautusvaara, Renhagen and Harrejaure have been prepared and categorised for reporting purposes by Mr Reed, following the guidelines of the JORC Code. Mr Reed is qualified to be a Competent Person as defined by the JORC Code on the basis of training and experience in the exploration, mining and estimation of mineral resources of gold, base metal and iron deposits. Mr Reed consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Competent Persons Statement-Exploration Targets

The information in this document that relates to JORC Exploration Targets is based on information reviewed by Mr Thomas Lindholm of GeoVista AB, Luleå, Sweden acting as an independent “Competent Person”. Mr Lindholm is a member of the Australasian Institute of Mining and Metallurgy (Member 230476). Mr Lindholm is qualified to be a Competent Person as defined by the JORC Code on the basis of training and experience in the exploration, mining and estimation of mineral resources of gold, base metal and iron deposits. Mr Lindholm consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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