RENASCOR RESOURCES LIMITED — AGM Information 2011

Nov 16, 2011

ASX Announcement

17 November 2011

CHAIRMAN’S ADDRESS TO SHAREHOLDERS – 2011 AGM

In view of the turmoil we have seen in our sector during the year, I should like to touch upon the wider macroeconomic factors which have, in a very real sense, overshadowed the very solid progress to which our Managing Director will speak during his review of operations.

Our initial Public Offering was made in a wider market context that was set out at section 3 of our Prospectus where we and, as far as I am aware, most industry commentators saw (i) changing supply fundamentals, (ii) increasing demand (iii) greater social acceptance of nuclear power generation and (iv) the anticipated impact of new carbon emission regimes. These factors provided the impetus for us to bring together a talented executive team and for all of us to invest in Renaissance.

The offering was a great success and the support we had was overwhelming. Our share price reacted accordingly. But within a short period we saw in March 2011, the devastation of the Fukishima area of north-eastern Japan and the resultant damage to the TEPCO nuclear power plant.

The markets reacted with alarm. Many investors exited our sector and share prices rapidly became depressed.

On the demand side, we saw the German Government decide yet again to exit the nuclear power sector and in Japan there is in place a program of closing plants until they have undergone a safety-testing program. But overall the underlying uncertainty in the supply-demand balance, does not warrant the pessimism we have seen and I am much reassured to see the continued support of loyal shareholders including our management and board. We remain determined to carry though our programs and to deliver value to our shareholders.

But we recognise that short term uncertainty is there and we have considered how best the board might serve the interests of its investors in the face of that uncertainty and we have accordingly looked carefully at non-core uranium prospects that we have identified and rebalanced our investment program to get the best return for our investment and activities. Our Managing Director, David Christensen will speak in more detail as to what that has entailed on a project by project basis.

We see a number of most encouraging signs both in relation to wider market factors and our specific projects and look forward to the coming year with confidence. Meantime, I would like on behalf of the non-executive board members to thank David Christensen and his team for their focus determination and flexibility in difficult market conditions. I would also, on behalf of the entire board, thank our shareholders for their continued support.

David Macfarlane

Chairman Renaissance Uranium Limited

BACKGROUND INFORMATION

Renaissance Uranium is an Australian-based company focused on the discovery and development of economically viable deposits containing uranium, gold, copper and associated minerals. Renaissance has an extensive tenement portfolio, holding interests in eight projects in key mineral provinces of South Australia and the Northern Territory.

ACN 135 531 341 63 King William Street, Kent Town, SA 5067 Phone: +61 8 8363 1589 • Fax: +61 8 8363 1654 Email: info@renaissanceuranium.com.au

ASX code: RNU www.renaissanceuranium.com.au