RENASCOR RESOURCES LIMITED — Capital/Financing Update 2011

Aug 10, 2011

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ASX Announcement

11 August 2011

SIGNIFICANT COPPER INTERSECTION AT GLENSEA PROSPECT

HIGHLIGHTS

• Strongly elevated copper interval (12 metres at 0.42% copper) from 186 metres to end-of-hole intersected at the southern portion of the Glensea Prospect (Pirie Basin, South Australia) from basement samples of rotary-mud drilling into weathered basement

• Copper intersection occurs on the margin of a strong gravity gradient and adjacent to a magnetic anomaly, in an area of elevated copper mineralisation

• Elevated gold, uranium and rare earth elements associated with copper intersection suggest possible IOCGU or Hillside-style mineralisation

• Follow-up work to include more comprehensive basement drilling of copper intersection, as well as more detailed geophysical surveying and drilling in the wider prospect area

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that reconnaissance drilling over its Pirie Basin Project has intersected significant copper mineralisation at the Glensea Propsect, an area of strong gravity gradient adjacent to an anomalous magnetic zone. See Figures 1 and 2. Drill hole 11RPBRM22 intersected 12 metres at 0.42% copper from 186 metres to end-of-hole in samples taken at six metre intervals from rotary-mud drilling into weathered basement. The Glensea Prospect, which is part of Renaissance’s Pirie Basin Project in the Eastern Eyre Peninsula of South Australia, is located within EL 3978. Renaissance has a right to earn a 75% interest in EL 3978 pursuant to an agreement with a subsidiary of Stellar Resources Limited (ASX: SRZ).

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Figure 1. Pirie Basin Project and the Glensea Prospect

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

As part of its initial reconnaissance drilling program over the Pirie Basin Project (see ASX Release dated 28 July 2011), Renaissance conducted limited drill-testing of the underlying basement, with a main basement target of highly enriched copper associated with iron-oxide, copper-gold-uranium (IOCGU) mineralisation, similar to the Olympic Dam, Prominent Hill and Carrapateena deposits. The rotary-mud drilling program, which also tested for uranium within overlaying sands, included assays of the weathered basement clays in one drill hole (11RPBRM22) within the Glensea Prospect, utilising two-metre chip samples composited over six-metre intervals.

The assays from drill hole 11RPBRM22 returned 12 metres at 0.42% copper from 186 metres to end-of-hole, including 6 metres @ 0.522% copper in the final six metre interval (from 192 metres to 198 metres). See Table 1. The increase in copper grade over the final sample suggests to Renaissance the possibility that elevated copper grades in this area may continue to greater depths

Hole	From	To	Thickness	Assay result(copper)
11RPBRM22	186	198	12m	0.42%
including
	186	192	6m	0.326%
	192	198	6m	0.522%

Table 1. Summary of end-of-hole basement sample from drill hole 11RPBRM22

Drill hole 11RPBRM22 occurs on the margin of a strong gravity gradient and adjacent to a magnetic anomaly. As indicated in Figure 2, the hole occurs on the southern margin of the Glensea Prospect, within a complex of magnetic and gravity anomalies located on the margin of the “Glensea” granite. Hole 11RPBRM22 is situated on the western margin of a four milligal gravity anomaly shown by both Bouguer residual gravity contours and a moderate magnetic anomaly. This anomaly is located approximately 2.5 kilometres southwest of gravity and magnetic anomalies targeted in previous drill programs within the Glensea Prospect. These earlier drill programs intersected elevated copper over strong magnetic anomalies, with peak results shown in Figure 2. The results from Hole11RPBRM22, in conjunction with the results of the earlier drilling, suggests that there may be significant relief in the underlying basement surface, further increasing the prospectivity of the Glensea Prospect.

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Figure 2. Glensea Prospect. Drill holes, showing copper intersection on magnetic image with Bouguer residual gravity contours

www.renaissanceuranium.com.au

ASX code: RNU

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In addition to elevated copper levels, the assay from drill hole 11RPBRM22 returned anomalous gold, uranium and rare earth elements (REE). Similarly, previous drilling within the Glensea Prospect displayed a correlation of elevated copper with corresponding anomalous uranium and REE. While further testing will be needed to confirm mineralisation style, the available geochemical data suggests possible IOCGU or Hillside-style mineralisation.

Follow-up work on the Glensea Prospect will be aimed at defining the extent of copper mineralisation in the area proximate to drill hole 11RPBRM22 and will include core drilling of the basement. In addition, Renaissance plans to target additional copper mineralisation in the wider Glensea Prospect by conducting more detailed geophysical surveying, including infilling existing gravity and magnetic anomalies, and then core-drilling to test for primary basement hosted mineralisation.

COMPETENT PERSON STATEMENT

THE EXPLORATION RESULTS REPORTED HEREIN, INSOFAR AS THEY RELATE TO MINERALISATION, ARE BASED ON INFORMATION COMPILED BY MR G.W. MCCONACHY (FELLOW OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY) WHO IS A DIRECTOR OF RENAISSANCE. MR MCCONACHY 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 MCCONACHY 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 company focused on the discovery and development of economically viable deposits containing uranium and associated minerals. It holds interests in eight projects covering approximately 18,000 km[2] with tenements located 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

ASX code: RNU

www.renaissanceuranium.com.au

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