RENASCOR RESOURCES LIMITED — Capital/Financing Update 2014

Nov 12, 2014

ASX Announcement

13 November 2014

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DRILLING TO RECOMMENCE AT EASTERN EYRE

• Drilling to recommence next week at multiple copper prospects within Renascor’s Eastern Eyre project in South Australia’s Olympic Dam copper belt

• Drilling to include testing of Extension Tank prospect, a standout (6 MGal) gravity target located within the highly prospective Roopena fault structure

• Program will include first testing of Nilginee prospect, a large gravity/magnetic target with a coincident surface geochemical (copper, lead, zinc, vanadium and titanium) anomaly

• Drilling will also include follow-up testing for continuation of mineralisation at 1050 East copper-cobaltsilver prospect, where drilling earlier this year intersected massive sulphides and extensive copper mineralisation

• A drill rig has been mobilised for a planned program of up to 1,000 metres of reverse circulation drilling expected to commence early next week, with assay results expected in early December

Renascor Resources Limited (ASX: RNU) is pleased to announce the recommencement of drilling at its 100%owned Eastern Eyre project, located in the world class Olympic Dam copper belt of South Australia.

The planned program of 1,000 metres of reverse circulation drilling will include Renascor’s first testing of three strong geophysical targets, including Extension Tank, a standout (6 MGal) gravity target located within the highly prospective Roopena fault structure. Other geophysical targets to be tested include Nilginee, a large gravity/magnetic target with a coincident surface geochemical anomaly, and Knights, an additional large-scale gravity/geochemical target. See Figure 1.

The drill program will also include followup testing at the 1050 East coppercobalt-silver prospect, where drilling earlier this year intersected extensive copper mineralisation, including 13m @ 1.45% Cu, 66 ppm Ag and 0.17% Co (from 215m) in hole EEDD012, including 8m at 2.2% Cu, 92 ppm Ag and 0.26% Co.

A drill rig has been mobilised, with drilling expected to commence next week and assay results expected in early December.

Figure 1 (image right). Eastern Eyre Project, highlighting targets for upcoming drill program

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1050 East
8m @ 2.2% Cu
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ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renascor.com.au

ASX code: RNU www.renascor.com.au

Discussion

Extension Tank

Extension Tank is a high amplitude (6 MGal) gravity anomaly with a discreet gravity signature within the highly prospective Roopena fault zone. Renascor considers the Roopena fault, as well as the parallel Angle Dam fault, to be a major conduit for mineralisation sourced from nearby Hiltaba-age granites. A moderate coincident magnetic response is evident in the southern portion of the target zone of Extension Tank. See Figure 2. The gravity anomaly has yet to be drill-tested at target depths of approximately 150 metres, and limited shallow drilling over the magnetised portion has not explained the gravity anomaly. The magnitude and structural setting of the gravity anomaly within the Roopena fault structure is consistent with possible iron-oxide, copper-gold (IOCG) style mineralisation. Drilling at Extension Tank will focus on testing the gravity highs.

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Figure 2. Extension Tank prospect, gravity contour image showing 0.5 Mgal intervals

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

ASX code: RNU www.renascor.com.au

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Nilginee

The Nilginee prospect is a large-amplitude (+3 MGal), IOCG-style gravity anomaly located in the southern part of the project area (see Figure 1) and immediately east of Arrium’s Moola prospect (which hosts copper-gold mineralisation within a stratabound hematite-albite-calcite-chlorite breccia). The centre of the gravity feature is coincident with a magnetic anomaly. As show in Figure 3 (below), soil sampling has identified anomalous copper (+50 ppm copper) over approximately 400 metres by 400 metres in an area coincident with the gravity anomaly. Soil analysis also returned elevated lead, zinc, vanadium and titanium. The copper-in-soil levels at Nilginee display a similar response as evidenced at 1050 East, suggesting Nilginee may sit within a similar parallel fault structure to 1050 East. Drilling at Nilginee will focus on testing the coincident gravity and geochemical high.

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Figure 3. Nilginee prospect, showing copper in soils and residual gravity counters (0.5 MGal intervals)

Knights

The Knights gravity anomaly is located immediately south of Nilginee along the same fault trend. Similar to Nilginee, XRF analysis returned elevated copper-in-soils at levels consistent with 1050 East (+50 ppm) over 400 metres of strike, with the maximum copper value (477 ppm copper) on the southernmost surveyed line. See Figure 4. The geochemical anomaly remains open to the south. Renascor anticipates conducting initial drilling of Knights after (and subject to the results of) drill-testing of the nearby Nilginee prospect.

Figure 4 (image right).Knights prospect, showing copper in soils and residual gravity counters (0.5 Mgal intervals)

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

ASX code: RNU

www.renascor.com.au

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1050 East

Renascor’s initial drilling at 1050 East intersected high-grade copper-cobalt-silver mineralisation, with results including 13m @ 1.45% Cu, 66 ppm Ag and 0.17% Co (from 215m) in hole EEDD012, including a massive sulphide interval of 8m at 2.2% Cu, 92 ppm Ag and 0.26% Co (from 217m)[1] . Extensive copper mineralisation was intersected within the Angle Dam Volcanics sequence, the same stratigraphy that hosts copper mineralisation within the north-northeast trending Freshwell fault splay. See Figure 5. Results at 1050 East included several massive sulphide intervals at the apparent intersection of this fault splay and the Angle Dam fault structure. The limited shallow rotary drilling that has occurred within the fault splay has confirmed the presence of significant copper and lead at the Freshwell prospect, located to the northeast of 1050 East, along the fault splay. This suggests to Renascor that the splay has high potential to contain additional 1050 East-style copper development. The upcoming drill program will test for such additional copper development along the splay, focusing initially in areas of strong geochemical anomalism proximate to the Freshwell prospect.

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Freshwell
Cu/ Pb anomaly Target
area for
drilling
13m at 1.45% Cu, 66 ppm Ag and 4m @ 1.24% Cu and 65.8
0.17% Co (from 215m) , incl: 3m @ ppm Ag (from 67m) and 9m
4.0% Cu, 164 ppm Ag and 0.42% Co @ 1.07% Cu and 29 ppm Ag
(EEDD012) (from 75m) (EEDD013 )
47m @ 0.59% Cu, 55 ppm Ag and 0.03%
Co (from 172m), incl:
2m at 3.5% Cu, 142 ppm Ag and 0.03%
Co (EERCDD003)
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Figure 5. 1050 East massive showing drill holes >125m depth, with significant results and RAB copper (green) and lead (grey) contours at Freshwell prospect

Next steps

A drill rig has been mobilised for a planned program of up to 1,000 metres of reverse circulation drilling. Renascor expects drilling to commence early next week, with assay results expected in early December

1 See ASX Release dated 21 January 2014. Renascor is not aware of any new information or data that materially affects information in this release.

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

ASX code: RNU www.renascor.com.au

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The results reported herein, insofar as they relate to exploration results, are based on information compiled by Mr G.W. McConachy (Fellow of the Australasian Institute of Mining and Metallurgy) who is a director of the Company. 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 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. This report may contain forward-looking statements. Any forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward-looking statements.

Background information

Renascor Resources is an Australian-based company focused on the discovery and development of economically viable deposits containing copper, gold, uranium and associated minerals. Renascor has an extensive tenement portfolio, holding interests in 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@renascor.com.au

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

ASX code: RNU www.renascor.com.au

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