RENASCOR RESOURCES LIMITED — Capital/Financing Update 2016

May 10, 2016

ASX Announcement

11 May 2016

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PLACEMENT TO RAISE $1.1 MILLION

• Renascor has received firm commitments to raise $1.1 million to accelerate the development of the Arno Graphite Project in South Australia

• The raising includes a $389,000 conditional placement, subject to shareholder approval

• All shares to be issued under placement at $0.015 per share and include one free attaching option for every four new shares issued. The options have an exercise price of $0.03 per share and are exercisable at any time prior to 30 September 2016

• The proceeds will be used to fund resource expansion drilling on the Siviour deposit, which is currently Australia’s largest graphite Mineral Resource, and to commence comprehensive metallurgical test work at Siviour

• Follow-up drilling at Arno Graphite Project to commence later this month

Renascor Resources Limited (ASX: RNU) is pleased to announce that it has received firm commitments for a capital raising of $1.1 million to fund the development of the Arno Graphite Project in South Australia. The capital raising consists of a placement of $711,000 to sophisticated and professional investors, together with a conditional placement of $389,000 to entities associated with directors of the Company and other sophisticated investors subject to receipt of necessary shareholder approvals. All shares to be issued under the placement and the conditional placement will be at $0.015 per share and include one free attaching option for every four new shares issued. The options have an exercise price of $0.03 per share and are exercisable at any time prior to 30 September 2016. Bizzell Capital Partners Pty Ltd, an entity associated with Stephen Bizzell (a director of Renascor) acted as Lead Manager to the Placement.

The proceeds will be used to fund resource expansion drilling on the Siviour deposit and to commence comprehensive metallurgical test work at Siviour. Drilling is expected to commence later this month.

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Figure 1. Arno graphite project, showing location and nearby graphite deposits

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

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ASX code: RNU www.renascor.com.au

Commenting on the capital raising, Renascor’s Managing Director David Christensen stated:

“We are delighted to have received firm commitments to raise $1.1 million which will enable the company to accelerate the development of the Siviour graphite deposit. Since acquiring the rights to the Arno Graphite Project in December 2015, Renascor has quickly established the project’s credentials by defining a high quality coarse flake graphite deposit that is Australia’s largest graphite Mineral Resource. The funds raised here are intended to continue the rapid development of Siviour by expanding the resource into additional high-grade graphite zones and by commencing comprehensive mineral processing test work. We expect the work conducted over the next three to four months will provide the basis for defining the initial economic parameters for eventual production from the Siviour deposit.”

The results reported herein, insofar as they relate to exploration results, are based on information provided to and reviewed 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 the reviewed 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 mineral deposits. Renascor has an extensive tenement portfolio, holding interests in projects in key mineral provinces of South Australia, the Northern Territory and Western Australia, including significant graphite projects near Arno Bay, South Australia and at Munglinup, Western Australia.

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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