RENASCOR RESOURCES LIMITED — Capital/Financing Update 2012

Feb 27, 2012

ASX Announcement

28 February 2012

MAJOR GOLD TARGET CONFIRMED FROM INFILL GEOCHEMICAL SAMPLING

HIGHLIGHTS

• Infill, multi-element soil sampling at Renaissance's Cutana Project has confirmed a significant anomalous gold zone in the Pinery Prospect area
• Soil gold levels to a maximum of 53 parts per billion gold, over an anomaly area of approximately 2,000 by 500 metres
• Phase one drilling scheduled to commence in March

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that recently completed infill, multi-element soil sampling over the Pinery Prospect area at its 100%-owned Cutana Project in northeastern South Australia has confirmed a major anomalous gold zone, with soil gold levels to a maximum value of 53 parts per billion (ppb) gold, over an anomaly area of approximately 2,000 by 500 metres. The sampling continues Renaissance's program of geochemical assessment of prospective gold areas within the Cutana Project, located near the White Dam gold mine, operated by Polymetals Mining Limited (ASX: PLY) in joint venture with Exco Resources Limited (ASX: EXS). The soil gold chemistry of the Pinery Prospect represents Renaissance's highest tenor and most extensive prospect to date.

Figure 1 (right). Pinery Prospect. Infill gold geochemical results

Overview

Exploration at the Cutana Project is targeting gold and associated mineralisation similar in style to the nearby White Dam gold deposit. In 2011, Renaissance identified five high priority gold targets from a program of extensive multi-element geochemical sampling over areas of major interpreted structures within the two western blocks of EL 4394 (see Figure 2). Renaissance is currently undertaking an initial reconnaissance drill program over these targets, having thus far completed 33 reverse circulation holes for a total of over 2,100 metres at 50 to 100 metre intervals. Results to date (see Renaissance's ASX Releases dated 23 December 2011 and 30 January 2012) include elevated gold and copper levels at one partially drilled prospect (Heinrichs). Drilling is expected to recommence in March 2012, at which time Renaissance expects to drill an additional 20 holes to complete coverage of Heinrichs and other prospects within the two western blocks of EL 4394

Figure 2. Cutana Project -- EL 4394

Pinery Prospect

In December 2011, Renaissance completed additional multi-element geochemical sampling at the Cutana Project, covering prospective portions of the eastern block of EL 4394. See Figure 2. Samples were taken at 300 metre intervals and assayed by Australian Laboratory Services (ALS) for multi-element testing, and in particular, trace gold analysis. The sampling, which noted relatively low background levels for gold across the eastern block of EL 4394, defined two elevated gold zones at the Pinery Prospect, near the eastern tenement boundary, defined by elevated gold in nine regional sample positions, with maximum gold levels of 30 and 37 ppb in, respectively, the southern and northern portions of the anomaly.

To follow-up on the Pinery Prospect, Renaissance recently completed infill geochemical sampling to further resolve gold distribution. Samples were taken at 50 to 100 metre intervals and again assayed by ALS for multi-element testing, and in particular, trace gold analysis. The sampling defined an elevated gold zone (greater than 5 ppb) within the Pinery Prospect over an area of approximately 2,000 by 500 metres, with maximum gold levels of 48 and 53 ppb in, respectively, the southern and northern portions of the anomaly, and multiple clusters of over 20 ppb throughout the 2,000 by 500 metre anomalous zone.

Renaissance is coordinating first pass drilling of the Pinery Prospect in connection with completion of the initial reconnaissance drill program at the Cutana Project, which it expects to recommence in March.

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-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.

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FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr David Christensen Mr Angelo Gaudio

Managing Director

Company Secretary

+61 8 8363 6989 info@renaissanceuranium.com.au