RIEDEL RESOURCES LIMITED — Capital/Financing Update 2012

Nov 22, 2012

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Suite 1, 45 Ord Street West Perth Western Australia 6005 Tel: +61 8 9226 0866 Fax: +61 8 9486 7375 PO Box 1559, West Perth Western Australia 6872 www.riedelresources.com.au

ABN: 91 143 042 022 ASX: RIE, RIEO

23 November 2012

ASX/Media Announcement

Completion of Share Placement

The Directors of Riedel Resources Limited ( “Riedel” or “the Company” , ASX: RIE) are pleased to advise that the Company has completed a Share Placement offered to sophisticated and professional investor clients of Oracle Securities in Australia and the UK.

The placement will raise up to $0.7 million before costs, with the issue of 9.33 million ordinary shares at an issue price of $0.075 per share and free attaching unlisted option on a 1:1 basis exercisable at 15¢ per share on or before 31 January 2016 (“Options”) as follows;

• ─ Up to 9.33 million new shares at 7.5¢ per share to raise circa $0.70 million to be issued within the Company’s 10% placement capacity under Listing Rule 7.1A.

• ─ Up to 9.33 million Options to be issued within the Company’s 15% placement capacity under Listing Rule 7.1.

The free attaching unlisted options to be issued on a 1:1 basis, being up to 9.33 million options, are to be issued under ASX Listing Rule 7.1, and will subsequently be put to shareholders for ratification at a General Meeting to be held in January 2013.

Yours sincerely

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Jeffrey Moore Managing Director

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