RIEDEL RESOURCES LIMITED — Capital/Financing Update 2012

Aug 12, 2012

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Suite 1 45 Ord Street West Perth WA 6005 Australia

Tel: +61 8 9226 0866 Fax: +61 8 9486 7375 PO Box 1559, West Perth WA 6872 Australia

www.riedelresources.com.au ABN: 91 143 042 022 ASX Code: RIE, RIEO

13 August 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 Share Placement announced on 3 August 2012, being offered to sophisticated and professional investor clients of DJ Carmichael Pty Limited in Australia and the United Kingdom, has been completed.

The placement raised $1.22 million before costs, with the issue of 16,263,316 ordinary shares at an average issue price of $0.075 per share as follows;

• ─ Tranche 2 Placement of 8,131,658 shares at an issue price of $0.115 per share to raise $0.94 million before costs

• ─ Further placement of 8,131,658 shares at an issue price of $0.035 per share to raise $0.28 million before costs

Tranche 2 of the Placement, being 8,131,658 shares were issued in accordance with pre approval by shareholders received at a General Meeting held on 15 June 2012.

The further placement, being 8,131,658 shares were issued under the 15% capacity under ASX Listing Rule 7.1. It will subsequently be put to shareholders and ratified at a General Meeting to be held in September 2012.

Yours sincerely

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Bruce Franzen Executive Director