RIEDEL RESOURCES LIMITED — Capital/Financing Update 2017

Nov 30, 2017

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ACN 143 042 022

Suite 1, 6 Richardson Street West Perth Western Australia 6005

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----- Start of picture text ----- ASX and Media Release1 December 2017----- End of picture text -----

RIEDEL TO RECEIVE $500,000 FROM SALE OF CHARTERIS CREEK PROJECT

HIGHLIGHTS

• Sale of Charteris Creek Project for $500,000 to proceed following option exercise.

• Initial $25,000 option fee and first instalment payment of $175,000 have now been received.

ASX Code: RIE

riedelresources.com.au

• Confirms continued commitment to divest non-core assets to deliver value to shareholders and focus on exploration and development of the Cármenes high grade cobalt-copper project in Spain.

• Further strengthens Riedel’s cash position as it pursues its new strategic objective of securing and developing cobalt and energy related metals opportunities in Europe.

Riedel Resources Limited ( ASX: RIE ) is pleased to advise that LMTD Wits Pty Ltd (‘LMTD’) has exercised its Option to purchase the Charteris Creek Project (E45/2763) for $500,000 in cash , exclusive of GST.

KEY COMPANY INFORMATION Capital Structure Ordinary Shares: 374m Unlisted Options: 42.9m

Top 20 Shareholders 64%

Cash Reserves A$2.65m (at 30 September 2017)

Pursuant to the Sale Agreement, the non-refundable option fee of $25,000 and the first instalment payment of $175,000 (plus GST) have now been received in full by the Company.

Executive Chairman, Mr Jeffrey Moore said “Riedel is pleased to advise that the sale of the non-core Charteris Creek Project has now proceeded with LMTD’s Option exercise and payment of the tranche 1 fee. The proceeds from this divestment will be allocated to the Company’s primary focus, which is the exploration and development of its European energy metals assets.”

KEY TERMS OF THE AGREEMENT

• LMTD was granted a sixty day exclusivity period to undertake all relevant due diligence work which has now been successfully completed.

• The purchase price of A$500,000 (exclusive of GST) is payable as follows:

  • A non-refundable option fee of A$25,000 was payable within 14 days of executing the Agreement (completed - payment received) ;

  • A tranche 1 payment of A $175,000 was payable within 5 days of LMTD formally giving notice of their intention to proceed (completed – payment received);

  • A tranche 2 payment of A $150,000 to be received within 3 months of LMTD formally giving notice of their intention to proceed; and

  • A tranche 3 payment of A $150,000 to be received within 6 months of LMTD formally giving notice of their intention to proceed.

For further information please contact: Henko Vos (Company Secretary) on (+61 8) 9463 2463