RENASCOR RESOURCES LIMITED — Capital/Financing Update 2011

Sep 5, 2011

==> picture [595 x 24] intentionally omitted <==

==> picture [595 x 24] intentionally omitted <==

==> picture [595 x 25] intentionally omitted <==

==> picture [595 x 24] intentionally omitted <==

ASX Announcement

==> picture [595 x 25] intentionally omitted <==

6 September 2011

CUTANA PROJECT: GOLD DRILL TARGETS DEFINED FROM INFILL GEOCHEMICAL SAMPLING PROGRAM

HIGHLIGHTS

• Completion of infill, multi-element soil sampling at Renaissance’s Cutana Project has defined multiple gold drill targets in areas immediately north and southwest of Exco and Polymetal’s White Dam gold mine

• Five high priority gold target areas identified from combined gold, silver, copper and uranium geochemistry, with two targets coincident with strong magnetic response

• Drilling scheduled to commence next quarter, pending regulatory and land access clearances

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that recently completed infill, multi-element soil sampling at its 100%-owned Cutana Project in northeastern South Australia has resulted in the verification and prioritisation of five anomalous gold target areas located immediately north and southwest of the White Dam gold mine, operated by Polymetals Mining Limited (ASX: PLY) in joint venture with Exco Resources Limited (ASX: EXS). See Figure 1. The infill sampling results, which were taken at close-spaced (50 metre) intervals over areas selected from Renaissance’s initial broader-spaced sampling program, have confirmed the project’s gold potential, with five high priority targets selected for drilling scheduled to commence next quarter, pending regulatory and land access clearances.

==> picture [421 x 295] intentionally omitted <==

----- Start of picture text ----- === 5 km===----- End of picture text -----

Figure 1. Cutana Project – detailed sampling and defined project areas

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

Overview

The exploration program for the Cutana Project is targeting gold in extensions into Renaissance’s project area of regional structures interpreted to control the localisation and mineralisation of the White Dam gold deposit, which is located within approximately five kilometres of Renaissance’s project area.

Prior to the commencement of Renaissance’s work at Cutana, only limited geochemical sampling at a density of approximately 500 metres had been undertaken on the project area. Regarding this as inadequate for locating White Dam-style gold deposits, in July of this year, Renaissance completed a program of extensive multi-element geochemical sampling designed to cover areas of major interpreted structures. Samples were taken at 200 metre intervals and assayed by Australian Laboratory Services (ALS) for multi-element testing, and in particular, trace gold analysis. Completion of this program resulted in the identification of seven zones of strongly anomalous gold within the Cutana project area. See ASX Releases 22 June 2011 and 17 July 2011.

To prioritise these targets for first-pass drilling, Renaissance recently completed closer-spaced sampling at intervals of 50 to 100 metres. Samples were once again assayed by ALS for multi-element testing, including trace gold analysis. As a result of this detailed, infill sampling program, Renaissance has now identified five high priority gold prospects, with target dimensions of approximately 500 metres by 200-400 metres. Each of these prospects returned anomalous gold levels, with coincident silver, copper or uranium. Two targets, Bulloo Mag and Heinrichs, also display strong magnetic response. Details of each target are described in greater detail below.

Duffers Dam

Duffers Dam lies approximately 12 kilometres to the southwest of the White Dam gold mine. The prospect is defined by strongly elevated gold in soils over an area of approximately 500 metres by 300 metres. The area has previously been tested with two lines of shallow rotary air blast drilling (see Figure 2) to the east and west of the anomaly centre, which returned minor gold anomalism. Renaissance plans to drill two traverses of 50 metre spacing to test the centre of the anomaly as it is now defined by the infill sampling results.

==> picture [436 x 305] intentionally omitted <==

Figure 2. Duffers Dam prospect – soil gold image and contours

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

2

Bulloo Mag

Infill sampling at Bulloo Mag, which is located approximately four kilometres northwest of Duffers Dam, has defined a strong gold anomaly coincident with the central portion of an intense magnetic anomaly (2500 nT magnitude -- see Figure 3). Renaissance plans to drill two traverses of 50 metre spaced holes to test the centre of the gold anomaly and the more intense magnetic response 200 metres to the west.

==> picture [309 x 196] intentionally omitted <==

Figure 3. Bulloo Mag prospect – soil gold contours on aeromagnetic image

Heinrichs

To the northeast of White Dam, a coincidence of anomalous gold and magnetic response has also been delineated at the Heinrichs prospect, where local soil gold response is closely correlated with magnetic relief. See Figure 4. The Heinrichs prospect lies on an inferred regional northwesterly trending fault, and drilling on comparable magnetic features to the southeast of Heinrichs has returned significant zones of alteration consistent with IOCG-style mineralisation (see PIRSA PACE Final Drilling Report-DPY2-34 (Noranda Pacific Pty Ltd-Drew Hill)). Renaissance plans to drill two fences of 50 metre spaced holes to test the peak northern gold response and the larger magnetic target to the south of the inferred fault structure.

==> picture [290 x 233] intentionally omitted <==

Figure 4. Heinrichs prospect – soil gold contours on ground magnetic image

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

3

Oonartra

The Oonartra prospect, which is located approximately eight kilometres northwest of White Dam, lies to the west of the inferred White Dam structural trend. Infill geochemistry has defined a strong soil copper anomaly with coincident gold and a smaller isolated strong gold anomaly. See Figure 5. Renaissance plans to drill test both the coincident copper-gold anomaly and the stronger local gold peak anomaly.

==> picture [344 x 224] intentionally omitted <==

Figure 5. Oonartra prospect -- soil gold contours on soil copper image

Larry Macs

Infill sampling displays similar multi-element geochemical anomalism at the Larry Macs prospect, which is located immediately north of Renaissance’s Buloo Mag prospect. Here, strong gold and silver anomalies show near coincidence over an area of approximately 500 metres by 500 metres. See Figure 6. This prospect is also inferred to lie on a major northwest trending fault, which appears to offset the geochemical responses. Renaissance plans to drill an extended traverse covering the peak gold responses across the inferred fault, and a shorter traverse across the peak silver anomaly.

==> picture [342 x 226] intentionally omitted <==

Figure 6. Larry Macs prospect -- soil gold contours on soil silver image

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

4

Renaissance is currently seeking regulatory and land access clearances to permit drilling on each of the prospects described above. The total planned drilling program is anticipated to encompass 4,000 metres at 50 metre centres along 2,800 metres of traverse, with a likely average hole depth of 50 to 80 metres. Subject to clearances, Renaissance expects drilling to commence next quarter.

COMPETENT PERSON STATEMENT

THE EXPLORATION RESULTS REPORTED HEREIN, INSOFAR AS THEY RELATE TO MINERALISATION, ARE BASED ON INFORMATION COMPILED BY MR. C.G.ANDERSON (FELLOW OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY) WHO IS A CONSULTANT TO RENAISSANCE. MR. ANDERSON HAS SUFFICIENT EXPERIENCE RELEVANT TO THE STYLE OF MINERALISATION AND TYPE OF DEPOSITS BEING CONSIDERED TO QUALIFY AS A COMPETENT PERSON AS DEFINED BY THE 2004 EDITION OF THE AUSTRALASIAN CODE FOR REPORTING OF EXPLORATION RESULTS, MINERAL RESOURCES AND ORE RESERVES (THE JORC CODE, 2004 EDITION). MR. ANDERSON CONSENTS TO THE INCLUSION IN THE REPORT OF THE MATTERS BASED ON HIS INFORMATION IN THE FORM AND CONTEXT IN WHICH IT APPEARS.

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 the key mineral provinces of South Australia and the Northern Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr David Christensen Mr Angelo Gaudio

Managing Director Company Secretary +61 8 8363 1589 info@renaissanceuranium.com.au

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

5