RIEDEL RESOURCES LIMITED — Capital/Financing Update 2018

May 22, 2018

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ACN 143 042 022

Suite 1, 6 Richardson Street West Perth Western Australia 6005

ASX Code: RIE

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RIEDEL COMPLETES A$500,000 CASH SALE OF CHARTERIS CREEK E45/2763

Riedel Resources Limited (ASX:RIE, the Company) is pleased to advise that the cash sale of the Charteris Creek Project (E45/2763) for A$500,000, (exclusive of GST) to LMTD Wits Pty Ltd (‘LMTD’) has been completed.

Pursuant to the Sale Agreement, the third and final instalment payment of $150,000 (plus GST) has now been received in full by the Company.

riedelresources.com.au

Riedel’s Executive Chairman, Mr Jeffrey Moore commented:

“We are very pleased to report the completion of the Charteris Creek sale, providing the Company with additional funding which will be deployed towards our near-term exploration activities at our flagship Cármenes cobaltcopper project in Northern Spain.

“Drilling of initial high priority targets is set to commence in the near-term following the granting of approvals and we look forward to providing updates on this program in due course.”

KEY TERMS OF THE AGREEMENT

KEY COMPANY INFORMATION

Capital Structure Ordinary Shares: 418m Unlisted Options: 18m

Top 20 Shareholders 67.72%

Cash Reserves A$2.59m (at 31 March 2018)

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

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

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

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

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

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

For further information please contact:

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Henko Vo- Company Secretary Tel: +61 8 9463 2463

Released through Sam Burns, Six Degrees Investor Relations, +61 400 164 067

About Riedel Resources Limited

Riedel Resources Limited listed on ASX on 31 January 2011 and is an Australian-based exploration company focused on the exploration and development of technology metals in Europe.

Further information can be found at the Company’s website www.riedelresources.com.au