RENASCOR RESOURCES LIMITED — Capital/Financing Update 2013

Oct 14, 2013

ASX Announcement

15 October 2013

MAJOR NEW COPPER-COBALT-SILVER ZONE INTERSECTED AT 1050 EAST

HIGHLIGHTS

• First-pass reverse circulation drilling at Renaissance's 100%-owned 1050 East prospect intersects major new, copper-cobalt-silver zone
• Broad mineralised zones1 intersected in three holes, with results including:
  • o 44 metres at 0.61% Cu, 311 ppm Co and 24 ppm Ag from 172 metres to end-of-hole (including 2 metres at 3.5% Cu, 273 ppm Co and 142 ppm Ag) in hole EERC003
  • o 20 metres at 0.35% Cu and 133 ppm Co from 122 metres in hole EERC007
  • o 10 metres at 0.32% Cu and 29 ppm Ag from 102 metres and 16 metres at 0.30% Cu and 125 ppm Co from 116 metres in EERC002
• Mineralisation hosted in pervasive alteration zones in mid-Proterozoic metasediments with strong rare earth element and uranium geochemistry, indicating possible association with iron-oxide, copper-golduranium (IOCGU) style system typical of deposits located within Olympic Dam belt
• Grade and width of mineralised zones increase at depth, with open strike along untested portions of Angle Dam fault structure to the north and south
• Follow-up program to include diamond core drilling to test for extensions to mineralised zones within 1050 East and immediate vicinity

Figure 1. 1050 East prospect, showing Renaissance's RC drill holes, interpreted geology, and historical rotary air blast (RAB) copper geochemistry

1 Interpreted geometry suggests a true width of approximately 75% of the down-hole interval.

Renaissance Uranium is pleased to announce that recently received assays from its first-pass reverse circulation (RC) drilling program within its Eastern Eyre project has resulted in the identification of a major new copper-cobalt-silver zone within the 1050 East prospect area. Broad mineralised intervals were intersected in three holes at 1050 East, with results including 44 metres at 0.61% Cu, 311 ppm Co and 24 ppm Ag from 172 metres to end-of-hole (including 2 metres at 3.5% Cu, 273 ppm Co and 142 ppm Ag) in hole EERC003. Mineralisation is hosted in pervasive alteration zones in mid-Proterozoic metasediments with strongly anomalous rare earth element (REE) and weakly elevated uranium geochemistry, suggesting a possible association with an iron-oxide, copper-gold style system typical of deposits located within the Olympic Dam belt. Grade and intersected width of mineralised zones increase at depth, with open strike along untested portions of the Angle Dam fault structure to the north and south.

Figure 2. 1050 East prospect, showing Renaissance's RC drill holes and historical drilling, outlining mineralised positions and interpreted structural trends

Commenting on the results, Renaissance's Managing Director David Christensen stated:

We are delighted with the results at 1050 East. Our first drill program in this area has identified a significant new mineralised zone and opened the potential to locate an economic ore body at the first target tested. We are especially encouraged by the width of the mineralised intervals and the fact that the grade and width continue to improve at depth. The results confirm our exploration model and support an expanded follow-up program including deeper diamond drilling within the 1050 East area, as well as expanded drilling along the Angle Dam fault structure.

In total, Renaissance completed 1,150 metres of RC drilling within the project area. In addition to 1050 East, Renaissance completed one hole at each of the Malachite, Malachite West and Wizo Well prospects. See Figure 4. At Malachite (EERC004), Renaissance completed one hole for 126 metres over a geochemical anomaly identified from previous rotary air blast drilling. High ground water flows prevented a conclusive test of the target zone with RC drilling. Renaissance intends to test this prospect in subsequent diamond drill programs. Drill testing at Malachite West (EERC006) and Wizo Well (EERC005) targeted gravity anomalies defined by Renaissance's recent surveys. Renaissance completed one hole over each of Malachite West (150 metres) and Wizo Well (120 metres), intersecting thick intervals of magnetic mafics or amphibolites showing weak signs of mineralisation. Complete drill data for all holes is included in Appendix 1.

1050 East

Renaissance completed four RC holes at the 1050 East prospect for 757 metres, with three out of the four holes intersecting broad zones of copper, cobalt and silver. Interpreted geometry suggests a true width of approximately 75% of the down-hole interval. Significant results include:

• o 44 metres at 0.61% Cu, 311 ppm Co and 24 ppm Ag from 172 metres to end-of-hole (including 2 metres at 3.5% Cu, 273 ppm Co and 142 ppm Ag) in hole EERC003,
• o 20 metres at 0.35% Cu and 133 ppm Co from 122 metres in hole EERC007, and
• o 10 metres at 0.32% Cu and 29 ppm Ag from 102 metres and 16 metres at 0.30% Cu and 125 ppm Co from 116 metres in EERC002.

Complete drill results for all holes drilled by Renaissance in the current program, as well as historical holes drilled in the 1050 East prospect area, are included in Appendix 1.

Mineralisation in all four of Renaissance's RC holes at 1050 East occurs within highly altered volcanoclastic sediments presumed to be within the mid-Proterozoic Moonabie Formation. This sedimentary package is thought to be coeval with the Gawler Range Volcanic/Hiltaba intrusive event, associated with the major IOCGU deposits in the eastern Gawler Craton. As indicated in Figure 2, mineralisation is inferred to be strongly controlled by the inferred north-south trending Angle Dam fault structure, with minor offset structures explaining the absence of significant mineralisation within hole EERC001. This structure, over which wide portions remain untested at depth, is an extensive north-south oriented feature defining the eastern margin of the Roopena Fault zone. To the immediate south of the 1050 East area, the Angle Dam fault controls the western margin of an extensive area of sub-cropping Hiltaba granite, suggesting it may have been a mineralised controlling structure during the Gawler Range Volcanic/Hiltaba event, the geologic event associated with most major deposits within the Olympic Dam IOCGU belt.

Renaissance considers it particularly significant that the grade and width of the main mineralised zones appear to increase at depth, with the geometries and orientation of mineralisation still to be confirmed with oriented diamond cored drilling. The apparent grade/thickness relationship for Section 6374400N is illustrated in Figure 3 for holes EERC002 and EERC003.

Figure 3. Illustrative section for copper distribution – holes EERC002 and EERC003 on Section 637440N (red shows increasing Cu grade)

The limited drilling to date suggests that there is potential for the mineralised zones to extend to the north and south, along the Angle Dam fault structure. See Figure 2. In particular, as shown on Figure 3 above, Renaissance considers areas extending below and north of EERC003 to offer immediate follow up diamond core drill targets.

Next Steps

The current drill program has delineated a potentially economic zone of multi-commodity mineralisation at 1050 East, coincident with a major structure defining the eastern margin of the Roopena Fault zone along the Angle Dam fault structure. Renaissance intends to commence a follow-up diamond drill program at 1050 East, targeting both deeper extensions to existing mineralised zones, as well as testing along-strike to the northern portions of the Angle Dam fault structure. In addition, Renaissance expects to prioritise additional targets within the wider project area for further drill testing later this year. See Figure 4.

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

Figure 4. Eastern Eyre Project, showing 1050 East and other defined prospects (areas in blue represent tenements subject to recent acquisition agreement with Currie Resource Pty Ltd – See RNU ASX release dated 8 October 2013)

COMPETENT PERSON STATEMENT

THE EXPLORATION RESULTS REPORTED HEREIN, INSOFAR AS THEY RELATE TO MINERALISATION, ARE BASED ON INFORMATION COMPILED BY MR. CHRISTOPHER GLEN ANDERSON (FELLOW OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY) WHO IS A DIRECTOR OF 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 copper, gold, uranium and other minerals. Renaissance has an extensive tenement portfolio, holding interests in multiple projects in 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

Appendix 1

Renaissance drill results at 1050 East2

Hole	Prospect	Drill	type Easting Northing RL	Dip		AzimuthHole depth(metres)	From(metres)	To(metres)	Details
EERC001	1050East	RC	7229376374239 123	-65	83	150	16	22	6 metres at 41.8 ppm Ag and0.08% Cu
EERC002	1050East	RC	7229276374420117	-65	83	200	60	64	4 metres at 0.46% Cu and29 ppm Ag
							102	112	10 metres at 0.32% Cu
							116	132	16 metres at 0.30% Cu and125 ppm Co
EERC003	1050East	RC	7228586374398 114	-65	83	216	146	148	2 metres at 0.89% Cu, 139ppm Co and 27 ppm Ag
							154	164	10 metres at 0.41% Cu, 476ppm Co and 14 ppm Ag
							172	216(EOH)	44 metres at 0.61% Cu, 311ppm Co and 24 ppm Ag
							Including 196-198		2 metres at 3.5% Cu, 273ppm Co and 142 ppm Ag
EERC007	1050East	RC	7228866374534 116	-65	83	186	108	112	4 metres 0.59% Cu, 272ppm Co and 55 ppm Ag
							122	142	20 metres at 0.35% Cu and133 ppm Co

2 Details for sampling techniques and data and other relevant exploration information are included in Appendix 2.

Hole	Prospect	Drilltype	Easting Northing	RL	Dip	Azimuth	Holedepth(metres)	From(metres)	To(metres)	Details
SOC07	1050East	DDH	722948 6374175	122	-70	84	184.5	71.2	106.7	35.5 metres at 0.33% Cu
								Including	86.05-88.3	2.25 metres at 1.02% Cu
									89.9-92.4	2.5 metres at 1.42% Cu
SOC09	1050East	DDH	722894 6374178	123	-70	82	205.45	170.85	173.75	2.9 metres at 1.96% Cu, 24ppm Ag and 1070 ppm Co
FW05	1050East	RC	722847 6374576	115	-70	90	202m	160	168	8 metres at 0.65% Cu,57 ppm Ag and 327 ppm Co
FW01	1050East	RC	722941 6374182	123	-70	90	120	92	96	4.0 metres at 2.2% Cu,51 ppm Ag, 0.25 ppm Auand255 ppm Co
SOC10	1050East	DDH	722892 6374228		121 -70.8	82	244.65	No significant intervals
FW04	1050East	RC	722949 6374276	119	-70	90	114	No significant intervals
FW06	1050East	RC	722830 6374775	114	-65	90	174	No significant intervals – failed to reach targetdepth
SOC08	1050East	DDH	722894 6374125	123	-70	90	203	161.3162.91.6 metres at 0.4% Cu and290 ppm Co

Historical drill results at 1050 East3

Renaissance drill results at other prospects drilled in Eastern Eyre project area4

Hole	Prospect					Drill type Easting Northing RL DipAzimuth Hole depth (metres)	Details
EERC004	Malachite	RC	7209496375045121-70		83	126	No significant intervals
EERC005	Wizo Well	RC	7190556736480131-65		38	120	No significant intervals
EERC006	MalachiteWest	RC	7199716734802134-65		83	150	No significant intervals

3 Details for historical assay techniques and quality assurance are not available. Intervals quoted are calculated from open-file DMITRE reporting and include both RC samples and processed DDH sampling.

4 Details for sampling techniques and data and other relevant exploration information are included in Appendix 2.

Appendix 2

	JORC Table – Checklist of Assessment and Reporting Criteria
	Section 1: Sampling Techniques and Data
	(Criteria in this Section 1 also apply to Section 2)
Criteria	Explanation
Samplingtechniques	Drill samples were collected at one-metre intervals.Subsequently, each two consecutive one-metre intervals were speared into acomposite two-metre sample with 1½ kg from each of the one-metre intervals.Composite two-metre sample were sent for laboratory geochemical analysis.
Drillingtechniques	Drilling was conducted using industry standard 5-½ inch reverse circulationpercussion drilling.
Drill samplerecovery	One-metre drill chip samples were collected throughout the drill program insequentially numbered bags.Every interval drilled is represented in an industry standard chip tray thatprovides a check for sample continuity down hole.
Logging	A standard log sheet for RC percussion drilling was used to record semiquantitative data for each one-metre sample.
Sub-samplingtechniques andsamplepreparation	Each one-metre sample was tube sampled to collect 1 ½ kg and combined intoa composite two-metre sample.Every 50 metres, a down-hole duplicate two-metre sample using the sametechnique outlined above was also collected and submitted for check analysis.All of the two-metre samples were marked with unique sequential numbering asa check against sample loss or omission.At the laboratory, the composite samples were riffle split with half of the samplethen pulverized so 85% passed through 75 microns to produce a representativesub sample for analysis.
Quality of assaydata andlaboratory tests	Standard multi element analysis using Aqua Regia ICP-MS was undertakenwhile trace level gold used a 25g sample weight for Aqua Regia extraction withICP-MS finish.The laboratory ran internal quality control checks as well as the duplicatesamples collected during the sample collection process.
Verification ofsampling andassaying	Any results exceeding the upper level of detection were re-analysed by thelaboratory using a different technique.There were no twinned holes.
Location of datapoints	All dill hole collars were pegged to the plan collar location using a hand heldGPS. These collar coordinates are entered into the drill hole database.The degree of accuracy of drill hole collar location and RL was estimated to bewithin a 5-metre error level.The grid system for the project was Geoscentric Datum of Australia (GDA) 94,Zone 53.
Data spacing anddistribution	Exploration only – N/A
Orientation ofdata in relation togeologicalstructure	Drill holes were inclined from the surface and monitored with a down-holesurveying camera.Interpretation of the relationship between the drilling orientation and theorientation of key mineralised structures suggests a true width of approximately75% of the down-hole intervals.
Audits or reviews	All data collected is subject to internal review.

JORC Table – Checklist of Assessment and Reporting Criteria (Continued)
Section 2: Reporting of Exploration Results
(Criteria listed in Section 1 also apply to this Section 2)
Criteria	Explanation
Mineral tenementand land tenurestatus	All drilling was entirely within Exploration Licence EL 5012 (Roopena) grantedon 13 September 2012 for a term expiring in 2015. EL 5012 is 100% owned byRenaissance Uranium Limited.The tenement is subject to a Deed of Access with the Department of Defenceand a native title claim mining agreement with the Barngarla Group.
Exploration doneby other parties	Historic exploration has been carried out by several companies over the past40 years including, SAMADAN, WMC, BHP, Normandy and Minotaur.
Geology	Meso-proterozoic sediments and granite of Hiltaba age and sheer hostedsulphide ridge zones containing copper, cobalt and silver mineralisation.
Data aggregationmethods	Exploration Results were reported using weighted average techniques with aminimum assay truncation of 1,000ppm Copper. No high-grade cut-offs weremade in the reporting.No reporting was made of metal equivalent values.
Relationshipbetweenmineralisationwidths andintercept lengths	The mineralized widths are down-hole drilled intercepts. True width isunknown.The geometry of the mineralisation with respect to the drill hole angle isspeculative at this time.
Diagrams	Scaled maps, sections and tabulations of intercepts are included in the body ofthis report.
Balancedreporting	All geochemical anomalous data has been reported for this drilling program.
Other substantiveexploration data	All data considered substantive has been reported for this drilling program.
Further work	Tests for lateral and depth extensions to the copper mineralization are plannedto be undertaken utilizing diamond drilling technique.