RENASCOR RESOURCES LIMITED — Capital/Financing Update 2011

Apr 10, 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 <==

11 April 2011

ELEVATED URANIUM MINERALISATION AND GOLD TARGETS IDENTIFIED AT CUTANA PROJECT

HIGHLIGHTS

• Continuing assessment of exploration data for Renaissance’s Cutana Project has led to delineation of an extensive area of untested elevated uranium mineralisation within gossanous outcrops in the Shorts Dam prospect area

• New geological information for the White Dam gold mine points to regional structures prospective for gold mineralisation extending into Cutana Project area

• Renaissance has commenced program of detailed multi-element geochemical sampling to define and to delineate uranium and gold drill targets

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that it has delineated extensive areas of elevated uranium mineralisation and new regional targets prospective for gold within its 100%-owned Cutana Project located in the Southern Curnamona Province of South Australia. See Figure 1. A program to conduct detailed multi-element geochemical sampling is currently underway.

==> picture [327 x 46] intentionally omitted <==

==> picture [327 x 47] intentionally omitted <==

==> picture [327 x 46] intentionally omitted <==

==> picture [327 x 46] intentionally omitted <==

==> picture [327 x 46] intentionally omitted <==

==> picture [327 x 47] intentionally omitted <==

==> picture [327 x 45] intentionally omitted <==

Figure 1. Cutana Project

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

Renaissance has recently identified extensive areas of elevated uranium mineralisation and new regional targets prospective for gold within its 100%-owned Cutana Project located in the Southern Curnamona Province of South Australia.

Within the Shorts Dam area of the Cutana Project, previous exploration data shows extensive areas of elevated uranium mineralisation within gossanous outcrops. This area has been subject to historical drilling for copper and base metals, without testing the peak uranium zones. In addition, portions of the Cutana Project are within close proximity to the recently commissioned White Dam gold mine and the White Dam North, Vertigo and Ambush gold prospects, each of which is owned 75/25 by Exco Resources Limited (ASX: EXS) and Polymetals Mining Limited. Recently published information on White Dam suggests regional structures within the Renaissance project have significant gold exploration potential.

Renaissance has commenced a program of extensive multi-element geochemical sampling at the Cutana Project to define and delineate uranium and gold distributions within the project area. This testing includes geochemical sampling of sub-cropping gossans undertaken in the vicinity of the Shorts Dam prospect and systematic soil sampling over areas along the projected south-western structural extension of the White Dam gold mine trend into Renaissance’s project area. Subsequently, Renaissance expects to drill-test defined geochemical targets for concealed deposits.

Uranium targets and Shorts Dam

The Cutana Project is located in the southern portion of the Frome Basin and is proximate to areas of extensive sub-crop of known uraniferous granite source rocks of the Curnamona Province. Renaissance acquired the Cutana Project to target uranium located in basement shear/vein and younger breccia hosted deposits. Renaissance believes that the region’s extensive mineralisation is largely controlled by basement structures that can be traced under shallow cover throughout the project area.

In connection with its continuing assessment of available exploration data, Renaissance identified previous base metal-targeted exploration activity that included soil and rock chip geochemical sampling. In particular, at the Shorts Dam prospect, earlier exploration data includes strongly anomalous uranium values from gossan samples (maximum 285 ppm U3O8 -- see Figure 2). While historic drilling in the area followed up on base metal targets, peak uranium zones at Shorts Dam have not been drill tested. After completing the current field program, which includes extensive geochemical sampling over the Short Dam prospect and other uranium targets, Renaissance expects to drill test defined geochemical targets for concealed deposits.

==> picture [287 x 48] intentionally omitted <==

==> picture [287 x 49] intentionally omitted <==

==> picture [287 x 48] intentionally omitted <==

==> picture [287 x 48] intentionally omitted <==

==> picture [287 x 49] intentionally omitted <==

Figure 2. Shorts Dam. Historical uranium sampling results and drill hole locations

ASX code: RNU www.renaissanceuranium.com.au

2

Gold prospects and extension of White Dam

Portions of the Cutana Project are also in close proximity to the White Dam gold mine and the White Dam North, Vertigo and Ambush gold prospects. Exploration data that has recently been made available on White Dam (see McDonald, A., Holland, J., and Cooke, A.” White Dam: A New Gold Producer in the Curnamona Province”, MESA Journal 59 (December 2010) (“McDonald et al”)) suggests that major structures interpreted to control the localisation of mineralisation within the White Dam project area may continue into the Cutana Project area –- in particular the north-south trending “West Fault” and the north-east trending “Vertigo Fault”. See Figures 3 and 4.

Existing geochemical sampling available for this area has generally only been carried out at a reconnaissance sampling density of approximately 500 metres, which Renaissance regards as inadequate for delineation of White Dam-style mineralisation. As an initial step intended to test for and confirm drill targets, Renaissance has commenced a program of extensive geochemical sampling to test for White Dam-style gold and is including the projected south-western structural extension of the White Dam into Renaissance’s project area.

==> picture [249 x 62] intentionally omitted <==

==> picture [249 x 61] intentionally omitted <==

==> picture [249 x 62] intentionally omitted <==

==> picture [249 x 62] intentionally omitted <==

Figure 3. White Dam geology and structure (from McDonald et al)

==> picture [359 x 271] intentionally omitted <==

Figure 4. White Dam and Cutana Project (EL4394), interpretation of major structures on magnetic image

ASX code: RNU www.renaissanceuranium.com.au

3

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 long-term, economically viable uranium producing assets. It holds interests in eight projects covering approximately 18,000 km[2] with tenements located in the key uranium 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

4

www.renaissanceuranium.com.au