REDSTONE RESOURCES LIMITED — Capital/Financing Update 2014

Jun 3, 2014

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4 June 201 4

Company A nnouncements Office Australian S tock Excha n ge Limited 20 Bridge S t reet SYDNEY N S W 2000

Electronic L odgement

Additional Projects Identified at Redstone’s West Musgrave Tenement

Redstone Resources Li m ited ( ASX: RDS ) (“ Redstone ” or “ the Company ” ) is pleased to announ c e that it ha s identified five addition a l projects o n its 100% o wned tene m ent (E69/2 4 50) in the W est Musgr a ve region o f Western A u stralia.

The projects identified, which are i n addition to the Tollu Project, are:

• Atl a s Project (prospective f o r IOCG & M t Isa style‐c o pper sediment‐hosted d eposits)

• Ba b ylon Projec t (prospecti v e for IOCG & Mt Isa styl e ‐copper se d iment‐host e d deposits)  Po m peii Projec t (prospecti v e for Mt Isa style‐copper sediment‐ h osted depo s it)  Pe r gamon Proj e ct (prospec t ive for Mt I s a style‐cop p er sedimen t ‐hosted de p osit)  He r culaneum Project (pros p ective for M t Isa style‐copper sedi m ent‐hosted deposit)

Commenti n g on the ad d itional proj e cts, Redsto n e’s Chairm a n, Richard H omsany st a ted:

“We are v e ry pleased t hat the ou t come of th e work completed in the Stage 1 E x ploration Program tha t resulted in a significan t increase t o the Conce p tual Explor a tion Target at the Toll u Project, has also led t o the identification of fi v e new key projects o n Redstone’ s highly pro s pective W e st Musgrav e tenement , E69/2450.

"As the fin a l deliverable from the Stage 1 Ex p loration Pr o gram, thes e additional projects gi v e the boar d further confidence t h at Redsto n e’s explor a tion on the tenement has be e n targete d and cos t effective. M ost importantly our w o rk clearly demonstrate s that, in ad d ition to th e high copp e r grades w e have been reporting, t h ere is the potential for the scale a n d volume n e cessary for sustainable commercia l mining op e rations on R edstone’s t enement. T his makes t he projects attractive f o r financing exploratio n and develo p ment activities.”

Redstone Resources Limited ABN 42 090 1 6 9 154 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660

www.redstone.com.au Email: contact@red s tone.com.au

ASX: RDS

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Tenement E69/2450 Prospectivity

BM Geolo g ical Servic e s were engaged to d etermine p roject areas within t h e teneme n t E69/245 0 considered to be prosp e ctive for b a se and precious metals. Five additi o nal project s have been identified i n E69/2450 (Figure 1 and Figure 2) a s key sites to conduct mi n eral explor a tion. These Projects ar e :

• Atl a s Project (prospective f o r IOCG & M t Isa style‐c o pper sediment‐hosted d eposits).

• Ba b ylon Projec t (prospecti v e for IOCG & Mt Isa styl e ‐copper se d iment‐host e d deposits) .  Po m peii Projec t (prospecti v e for Mt Isa style‐copper sediment‐ h osted depo s it).  Pe r gamon Proj e ct (prospec t ive for Mt I s a style‐cop p er sedimen t ‐hosted de p osit).  He r culaneum Project (pros p ective for M t Isa style‐copper sedi m ent‐hosted deposit).

The tenem e nt is locat e d immedia t ely south o f a deep‐se a ted crustal suture and hosts Prot e rozoic‐age d volcanic, s e dimentary and intrusi v e rocks that were for m ed in a failed intra‐cr a tonic rift setting. Th e tenement i s prospecti v e for Iron Oxide Cop p er‐Gold (I O CG) mineral systems and Mt Isa s tyle‐coppe r sediment‐hosted mine r al systems. This has b e en determined on the basis of ev a luating the geodynami c setting, str a tigraphic a r chitecture, f luid reserv o irs, flow drivers, fluid pathways an d mechanis m s for meta l deposition.

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Figure 1 – West Musgrave ‐ Location Map Figure 2 – West Musgrave – Project Map

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

ASX: RDS

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A geophysi c al interpret a tion of the tenement w as complet e d and has been integra t ed with lith o logical dat a sets to pro d uce a new g eological m ap. This m a p utilises observations taken from t he Redstone Resource s data room and obse r vations recorded by the Geologi c al Survey o f Western Australia ( GSWA). I t incorporat e s new con c epts publis h ed by the G SWA in 2 0 11 and 20 1 0 regardin g the weste r n Musgrav e Province a n d more sp e cifically the Blackstone sub‐basin, respectively. It also inc o rporates an exploratio n rationale p u blished by G eoscience A ustralia in 2 013 that is f ocused on d iscovering I O CG deposi t s in district s such as thi s .

Importantl y at least tw o transform structures h a ve been id e ntified in E 6 9/2450. O n e is the Tollu Fault Zon e with the se c ond fault z o ne located i n the west e rn portion o f the tenement. Both p r obably hav e time‐spac e relationshi p s with the d eep‐seate d crustal sut u re located immediatel y north of t h e tenement (Figure 4) . The presence of both f eatures greatly enhanc e their prospectivity fo r hydrother m al mineralisation of a n IOCG or Mt Isa style‐co p per variety. Two subo r dinate fault s have been interpreted in the tene m ent. Thes e do not app e ar to have a direct time‐space relat i onship with the deep‐s e ated crustal suture but m ay have a n indirect rel a tionship an d thus rema i n prospecti v e for signifi c ant hydrot h ermal mine r alisation.

Tenement E 69/2450 is comprised o f rocks of t he Blackst o ne sub‐basi n . This bas i n formed o v er a perio d >100 Ma a nd repres e nts a faile d intra‐con t inental rift (termed t h e Ngaanya t jarra Rift). The basi n architectur e is suitabl e for suppl y ing a substantial quan t ity of cop p er and sto r ing this in an oxidise d reservoir a t the base o f the seque n ce. Sources for S and/o r Cl, relevan t as ligands m obilising t h e metals, i s debatable. It is uncertain what th e trap was f or the copper mineralisation at th e Tollu Project. Volcani c siltstones j u xtaposed a gainst peb b le‐conglom e rates in conjunction w ith antifor m al stratigraphy may b e suitable traps.

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Figure 3 ‐ District scale structural interpretation illustrating the Tollu Fault’s relationship with the Tjuni Purlka Tectonic Zone (After Smalley 2014)

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

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Atlas Project

The Atlas P roject lies t o the imme d iate north o f the Tollu Project and is proximal to the Toll u Fault Zon e (Figure 4) . Most of the project are a appears to be under a thin Tertiar y under cov e r. Importa n tly, much o f the archite c ture of Tollu is repeated in Atlas. I n addition i s the inclusi o n of inter m ediate volc a nic rocks o f the Hogart h Formation and the int r usion of a g ranite (Figure 5) . In combination w ith the pro x imity of th e Tollu Fault Zone, and e xpanse of Tertiary cover, this Project is prospe c tive for a b lind Mt Isa s tyle‐coppe r sediment‐hosted depo s it.

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Figure 4 – Atlas Project –Location Map

The Atlas project is als o prospectiv e for the IO C G minerali s ation. In the northern p ortion of t h e Project, a felsic intru s ion is posi t ioned at t h e margin t o the Toll u Fault Zon e . Immedi a tely north of this is a magnetise d unit with a strike of 12 0 0 metres a n d width of 5 00m (Figure 6) . The r o ck type is interpreted t o be a porp h yritic rhyo l ite. As a m agnetised f eature it c ould repre s ent a port i on of stra t igraphy no t demagneti s ed by the T ollu Fault Z o ne, or the f ootprint of a hydrothe r mal cell th a t caused magnetisatio n consistent w ith an IOC G analogy. A djacent to t his location, within the d amaged an d demagnetised domai n of the Tollu Fault Zone is a rock sp e cimen P709660. This s p ecimen wa s studied by petrographi c analysis b y Teale and A ssociates ( 2 006) and w as observe d to be a p o rphyritic rh y olite that h as been sulphidised. I t contained p yrite, chal c opyrite, co v ellite, mag n etite and h aematite a s accessory minerals. A bundant K ‐ feldspar an d biotite wa s present b u t it is uncle a r from the d escription i f these wer e primary or a product o f metasomatism. The o b servation o f pyrite, chal c opyrite, co v ellite, mag n etite and h a ematite fa v our an IOC G deposit model.

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

ASX: RDS

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Figure 5. The location of the six Projects situated within E69/2450 that have been considered prospective for metal endowment. The main mineral system targeted is Mt Isa style‐copper sediment‐hosted mineral system. IOCG mineralisation is also considered to be plausible. The tenement outline is in brown.

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Figure 6. The spatial proximity of the sulphidised rhyolite as determined from petrographic thin section (2006), a magnetic high, a felsic intrusive and the Tollu Fault Zone.

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

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Babylon Project

The Babylon Project is located east of the Tol l u fault zon e (Figure 7) . At this lo c ation there is a distinc t change in s tratigraphy across the f a ult, both s t rike‐slip an d dip‐slip. The dip slip m ovement i s inferred b y the signific a nt thicknes s change of t he porphyr i tic rhyolite unit (P_‐TLs ‐ frp). This i n crease in t h ickness ma y also be du e to post‐fau l ting gentle f olding (pos s ible with n o rth‐east striking fold axi s ). Ultimately, there is a lot unresol v ed about t h e stratigra p hy. This P r oject is pro s pective for both IOCG a nd Mt Isa s tyle‐coppe r sediment‐hosted depo s its.

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Figure 7– Babylon Project –Location Map

Another fe a ture which is suggestive of an IOC G system is a set of co m plementar y geophysic a l anomalie s (Figure 8) . A north‐so u th striking m agnetic high is observ e d at 440,50 0 m E; 7,112 , 000m N. E n compassin g this is K‐Th ‐ U radiomet r ic anomalies. The K‐ch a nnel anom a ly is distinc t . It is possi b le this reflects changin g stratigraph y from rhyolite‐magneti s ed basalt/ m afic sill/rhyolite and th e orientatio n is due to d eformation . However, if this occu r s then the deformation is distinc t ly different to the su r rounding r e gion and i s probably c a used by a late antifor m al fold. A n alternative theory for this geop h ysical feat u re is that i t represents a hydrothe r mal alteration footprin t . Interesti n gly, this fo o tprint is vi s ible from google earth . Recent ma p ping could not detect a ny overlan d flow (rain w ater run‐o f f) at this lo c ation sugg e sting the K ‐ Channel is d etecting su b crop or we a thering pr o duct of Proterozoic seq u ence. Cop p er has been observed i n subcroppin g quartz at 4 40,102 mE, 7,111,594 m N.

Redstone Resources Limited ABN 42 090 1 6 9 154 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660

www.redstone.com.au Email: contact@red s tone.com.au

ASX: RDS

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Figure 8. Illustrated in this image is the magnetics (1dv) offset along strike by the Tollu Fault Zone. This indication fault bends and corresponding dilation zones within the inferred transform structure. The Stratigraphy (dashed lines), normally east‐west, bends to north‐south in an irregular nature at the Babylon Project. Antiforms have been interpreted. Also a magnetic zone (blue ellipse) is identify within the corresponding K‐channel and U‐channel anomalies shown. A bull‐eye magnetic anomaly is also identified (green circle).

Redstone Resources Limited ABN 42 090 1 6 9 154 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660

www.redstone.com.au Email: contact@red s tone.com.au

ASX: RDS

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Herculaneum Project

The Hercul a neum Proj e ct is locate d west of th e Tollu Proj e ct (Figure 9) . The key a ttributes that define it s prospectivi t y are the i n ferred structure (Fault Zone F) (Figure 3) , an d what is b e lieved to b e the sam e rhyolite str a tigraphy t h at hosts th e Tollu cop p er minerali s ation. The geology ha s been interpreted fro m GSWA mapping (Figure 10) . This d e posit is pro s pective for M t Isa style‐copper sedi m ent‐hoste d system.

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Figure 9 – Herculaneum Project –Location Map

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Figure 10. The geological map for the Herculaneum Project representing the Fault Zone F and the stratigraphy believed to be the lateral equivalent to that hosting the Tollu copper mineralisation.

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

ASX: RDS

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Pergamon Project

The Perga m on Project i s located o n the north‐ w estern cor n er of E69/ 2 450 (Figure 11) . The k e y attribute s that define its prospec t ivity are th e inferred st r ucture (Fault Zone E) (Figure 3) , an d what is b e lieved to b e the same rhyolite str a tigraphy t h at hosts t h e Tollu c o pper mine r alisation. The geology has bee n interpreted from GSW A mapping (Figure 12) . T his deposit is prospecti v e for Mt‐Is a copper sty l e sediment ‐ hosted system.

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Figure 11 – Pergamon Project –Location Map

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Figure 12. The geological map for the Pergamon Project representing the Fault Zone E and the stratigraphy believed to be the lateral equivalent to that hosting the Tollu copper mineralisation.

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

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Pompeii Project

The Pomp e ii Project is located on the north‐ w estern corner of E69/2 4 50 (Figure 13) . The k e y attribute s that define its prospec t ivity are th e inferred t r ansform structure (Fault Zone C) (Figure 3) , an interprete d antiform a n d spatial pr o ximity to a felsic intrus i ve. The ge o logy has been interpret e d from GS W A mappin g (Figure 14) . It include s two key units, a peb b ly conglom e rate (P_‐TL h ‐frsi) that e nables sub s tantial flui d flow, and a volcanic siltstone (P_ ‐ TLh‐frn) w h ich may act as a redox trap. A d istinct bla c k feature i s observed overlying the southern limb of this a nticline, and to a lesser extent in t he norther n limb. Thi s deposit is prospective f o r Mt Isa style‐copper s e diment‐hos t ed.

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Figure 13 – Pompeii Project –Location Map

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Figure 14. The geological map for the Pompeii Project representing the Fault Zone C and the antiform in close proximity to an intrusive felsic unit.

Redstone Resources Limited ABN 42 090 1 6 9 154 www.redstone.com.au 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: contact@red s tone.com.au

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Competent Persons Statement

The information in this announcement that r elates to E x ploration Targets and exploration results wa s authorised by Mr Dar r yl Mapleson, a Princi p al Geologis t and a full time employee of B M Geologica l Services, w ho are eng a ged as consultant geo l ogists to R e dstone Resources Limi t ed. Mr M a pleson is a Fellow of t h e Australia n Institute of Mining and Metallurgy. Mr Maples o n has suffi c ient experi e nce which i s relevant to the style o f mineralis a tion and t y pe of depo s it under c o nsideration to act as a competen t person as defined in th e 2012 editi o n of the “A u stralasian C ode for rep o rting of Ex p loration res u lts, Minera l Resources a nd Ore Res e rves”. Mr M apleson consents to the inclusion i n the report of the matt e rs based o n his informa t ion in the f o rm and context in whic h it appears.

Forward‐Looking Statements

This docu m ent may in c lude forwar d ‐looking st a tements. F orward‐loo k ing statem e nts include, but are no t limited to s tatements c oncerning R edstone R e sources Limited’s (Redstone) planned explorat i on progra m and other statements t h at are not h istorical fa c ts. When u s ed in this d o cument, th e words suc h as “could” , “plan”, “es t imate”, “expect”, “inte n d”, “may”, “potential”, “should”, and similar e xpressions a re forward ‐ looking sta t ements. A l though Redstone belie v es that its e xpectation s reflected i n these for w ard‐lookin g statements are reason a ble, such st a tements in v olve risks a nd uncertai n ties and n o assurance c an be give n that actual results will b e consisten t with these forward‐looking statem e nts.

Redstone Resources Limited ABN 42 090 1 6 9 154 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660

www.redstone.com.au Email: contact@red s tone.com.au

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ABOUT REDSTONE RESOURCES

Redstone R esources L t d (ASX: RD S ) is a Perth‐based co m pany focu s ed on hig h ly prospect i ve copper exploration properties in the West M usgrave r e gion of Western Austral i a.

Redstone’s 100% owned Tollu Proj e ct is locate d in the south‐east porti o n of the W e st Musgrave region of Western A u stralia. The Tollu Proje c t consists o f a large swarm of hydro t hermal cop p er rich quartz veins in a mineralis e d system c o vering an area at least 5 km[2] . Mala c hite‐rich g o ssans assoc i ated with quartz veins are expose d at surface and form part of a dil a tational sys t em between two majo r structures within the Tollu Fault Z one.

The Tollu P roject has a Concept u al Explorat i on Target e stimated t o be 22 to 33 million tonnes of mineralisat i on at a co n ceptual grade range o f 0.9 ‐ 1.3% Cu, containing 198,000 to 445,000 tonnes of copper. T h is includes 4.3 to 6.4 m illion tonn e s of miner a lisation at a conceptual grade ran g e of 1.6 – 2.4%, cont a ining 69,00 0 to 154,000 tonnes of C o pper on th e Chatswort h Prospect.

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For further information please contact:

Richard Ho m sany Chairman Redstone Resources Li m ited +61 (08) 9328 2552 contact@r e dstone.co m .au

Mirand a Conti Compa n y Secretary Redsto n e Resource s Limited +61 (08) 9328 2552 contact@redstone. c om.au

Redstone Resources Limited ABN 42 090 1 6 9 154 60 Havelock S t reet, West Pe r th WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660

www.redstone.com.au Email: contact@red s tone.com.au