RENASCOR RESOURCES LIMITED — Capital/Financing Update 2012

Jul 10, 2012

ASX Announcement

11 July 2012

MULTIPLE ANOMALOUS GOLD INTERCEPTS FROM DRILLING AT CUTANA PROJECT

HIGHLIGHTS

• Initial scout-drilling at Renaissance's Cutana Project has returned multiple anomalous gold intercepts over an extensive area covering Pinery and Tepco Prospects
• At Pinery, gold was intersected in both near-surface oxide zones and primary zones, with values of up to 6 metres at 0.73 g/t gold in oxide zone and 2 metres at 0.89 g/t in primary zone
• Gold was also returned from drilling at the Tepco Prospect, approximately 7 kilometres to the southwest of Pinery, with gold values of up to 8 metres at 0.32 g/t within oxide zone
• The presence of multiple widely spaced oxide and primary gold intercepts over areas where Renaissance's previous soil sampling identified extensive anomalous soil gold geochemistry suggests that potential for economic gold mineralisation within the Pinery and Tepco area remains high
• Next steps to include detailed sampling, regolith mapping and ground geophysics in the areas of existing intercepts, to be followed by drill testing of defined drill targets

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that the initial scout-drilling program at its 100%-owned Cutana Project in northeastern South Australia has returned multiple anomalous gold intercepts. The gold intercepts occur at the Pinery and Tepco Prospects in an area southeast of the White Dam gold mine, operated by Polymetals Mining Limited (ASX: PLY) in joint venture with Exco Resources Limited (ASX: EXS). Gold mineralisation has been identified in both the near surface oxide zone, as well as in deeper primary zones. Oxide gold results include up to 6 metres at 0.73 g/t (from 32 to 38 metres) at the Pinery Prospect and up to 8 metres at 0.32 g/t (from 46 to 54 meters) at the Tepco Prospect. Primary gold intercepts include 2 metres at 0.89 g/t (from 98 to 100 metres) at the Pinery Prospect. The presence of multiple oxide and primary gold intercepts over areas where Renaissance's previous soil sampling identified extensive anomalous soil gold geochemistry suggests that the potential for economic gold mineralisation within the project area remains high. Next step exploration activities to include detailed sampling, regolith mapping and ground geophysics in the areas of existing intercepts, to be followed by drill testing of defined drill targets.

Figure 1. Renaissance's Cutana Project (EL 4394), showing location of Pinery and Tepco Prospects

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

Overview

In December 2011, Renaissance completed multi-element geochemical sampling in the eastern block of EL 4394 and identified the Pinery and Tepco Prospects. Subsequent infill sampling of Pinery defined an elevated gold zone of greater than 5 parts per billion (ppb) over an area of approximately 2,000 metres by 500 metres, with maximum gold levels of 48 and 53 ppb in, respectively, the southern and northern portions of the anomaly. Infill sampling at the Tepco Prospect confirmed the original elevated gold sample over an anomalous area of 250 metres by 150 metres, with a peak gold value of 20 ppb. Prospectivity of the gold anomaly at Tepco is further strengthened due to its close coincidence with a local "bulls-eye" aeromagnetic anomaly.

Drill program

In late May 2012, Renaissance completed initial scout-drilling programs at the Pinery and Tepco Prospects to test local peak values in soil gold geochemistry. At Pinery, Renaissance completed six drill traverses, with holes at 50 metre to 100 metre intervals over peak soil gold targets for a total of 27 holes over 2,862 metres. Because of the large lateral extent of the Pinery geochemical target (approximately 2 kilometres), these traverses were relatively widely spaced, at up to 500 metres, to provide an initial test of the entire anomaly area. See Figure 2. At the Tepco Prospect, Renaissance completed a single traverse, two-hole program to test the peak soil gold target and the centre of the aeromagnetic anomaly, for a total of 272 metres. See Figure 3.

In total, the drill program included 29 reverse circulation drill holes for a total of 3,134 metres. Drill samples were collected at 1 metre intervals using a standard spear technique and composited to 2 metres for assay. Renaissance submitted a total of 1,567 samples to Australian Laboratory Services Pty Ltd (ALS) for multielement analysis using ALS technique ME-MS41, with low-level gold analysis using ALS technique TL43.

The results of the drilling program, which are shown in detail in Table 1, suggest that gold mineralisation is widespread throughout the prospect area and defined by anomalous gold within both the oxide and primary zones.

Pinery Prospect. At Pinery, gold was intersected in both the nearsurface oxide zone and primary zones, with values of up to 6 metres at 0.73 g/t gold in the oxide zone and 2 metres at 0.89 g/t in the primary zone. Drill assays returning significant intervals of gold mineralisation within the oxide zone at Pinery were returned from drill tests of local soil gold peaks in the northern, eastern and southern portions of the anomalous soil area. Within the primary zone, Renaissance places particular significance to drill-hole 12RCTRC58, which intersected 2 metres at 0.89 g/t gold (from 98 to 100 metres) from within a broader zone of sulphide and epidote alteration within garnetiferous gneiss. This primary gold association with sulphide development suggests potential for use of geophysical methods, particularly Induced Polarisation (IP) surveys to define comparable primary mineralisation targets within the project area.

Figure 2 (right). Pinery Prospect – Drill collars and gold intersections over soil gold contours

Tepco Prospect. At the Tepco Prospect, approximately 7 kilometres to the southwest of Pinery, Renaissance intersected gold within the oxide zone, with gold values of up to 8 metres at 0.32 g/t. Drilling at Tepco was designed to test both the gold soil geochemical target and the source of a local aeromagnetic anomaly. Consequently, as indicated in Figure 3, the traverse is approximately 60 metres to the southeast of the geochemical peak. Although weakly magnetic gneiss was intersected in the southern drill hole, no primary gold mineralisation is associated with the magnetite. Drilling also revealed that the Tepco area includes up to 20 metres of transported, clay-rich cover sequence, which would be expected to mask the soil geochemical response. Under these circumstances, Renaissance regards the level of soil anomalism at Tepco as potentially much more significant, warranting further assessment.

Figure 3. Tepco Prospect – Drill collars and gold intersections over aeromagnetic image, showing soil gold contours

Next steps

Upon completing its assessment of drill assays, including analysing the impact of the variation of regolith geochemistry associated with topographic relief, Renaissance expects to perform detailed ground magnetic and Induced Polarisation surveys to be followed by close-spaced drilling of defined target zones for both oxide and primary gold 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.

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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 ten 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 6989 info@renaissanceuranium.com.au

Table 1 – Analytical Results

Prospect	Hole ID	MGA94Easting	MGA94Northing	Azimuth	Dip	Total Depth	Interval *	From	To	Gold g/T
Pinery Prospect	12RCTRC34	487200	6441999	270	-60	96	NSI
Pinery Prospect	12RCTRC35	487253	6442000	270	-60	66	NSI
Pinery Prospect	12RCTRC36	487302	6442000	270	-60	96	NSI
Pinery Prospect	12RCTRC37	487348	6442000	270	-60	78	NSI
Pinery Prospect	12RCTRC38	487401	6441998	270	-60	78	NSI
Pinery Prospect	12RCTRC39	487150	6442498	270	-60	78	NSI
Pinery Prospect	12RCTRC40	487204	6442498	270	-60	96	NSI
Pinery Prospect	12RCTRC41	487249	6442499	270	-60	96	NSI
Pinery Prospect	12RCTRC42	487300	6442500	270	-60	96	6	4	10	0.13
Pinery Prospect	12RCTRC43	487350	6442499	270	-60	78	4	36	40	0.13
Pinery Prospect	12RCTRC44	487100	6440699	270	-60	96	2	74	76	0.109
Pinery Prospect	12RCTRC45	487155	6440699	270	-60	96	NSI
Pinery Prospect	12RCTRC46	487203	6440700	270	-60	96	NSI
Pinery Prospect	12RCTRC47	487100	6441798	270	-60	126	NSI
Pinery Prospect	12RCTRC48	487200	6441800	270	-60	132	NSI
Pinery Prospect	12RCTRC49	487301	6441803	270	-60	126	NSI
Pinery Prospect	12RCTRC50	487398	6441802	270	-60	132	NSI
Pinery Prospect	12RCTRC51	486898	6441302	270	-60	114	NSI
Pinery Prospect	12RCTRC52	486998	6441301	270	-60	120	2	82	84	0.149
Pinery Prospect	12RCTRC53	487102	6441301	270	-60	126	NSI
Pinery Prospect	12RCTRC54	487198	6441300	270	-60	120	2	32	34	0.102
Pinery Prospect	12RCTRC55	487299	6441300	270	-60	126	NSI
Pinery Prospect	12RCTRC56	487402	6441300	270	-60	120	22	34	56	0.11
Pinery Prospect	12RCTRC57	487500	6441298	270	-60	126	22	32	54	0.16
Pinery Prospect	12RCTRC58	486896	6440801	270	-60	120	2	98	100	0.89
Pinery Prospect	12RCTRC59	486997	6440800	270	-60	126	NSI
Pinery Prospect	12RCTRC60	487100	6440799	270	-60	102	6	32	38	0.73
Tepco Prospect	12RCTRC64	480501	6438626	35	-60	148	8	46	54	0.32
Tepco Prospect	12RCTRC65	480450	6438550	35	-60	124	2	34	36	0.107
Analysis by Australian Laboratory Services Pty Ltd using Gold TL43 method.
Sampling at 1m intervals composited to 2 metre assay samples.
* NSI - No significant interval of gold greater than 0.1 g/T.