SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2003

Jun 25, 2003

RENISON CONSOLIDATED MINES NL

ACN 003 049 714

Mail Address PO Box 7066 Riverside Centre Brisbane Qld 4001

Level 30 Riverside Centre 123 Eagle St Brisbane Old 4000

Phone: (07) 3832 6488 Fax: (07) 3832 6261 Email: admin@rcm.com.au

ASX ANNOUNCEMENT

26 June 2003

REVISED CLOSING DATE FOR PRO RATA NON-RENOUNCEABLE ISSUE

The Company advises that the closing date for the Prospectus Issued announced yesterday will be the $5^th$ of August 2003, and not the $4^th$ of August as previously advised. Deferred trading of the Convertible Notes will commence on the $6^th$ of August 2003. The Company expects to dispatch holding statements by the $25^th$ of August 2003.

For and on behalf of the Board

JPK Marshall Company Secretary Brisbane, 26 June 2003

For further information contact:

Richard Seville or Stephen Bizzell Phone: (07) 3832 6488 Fax: $(07)$ 3832 6261 E-Mail: admin@rcm.com.au