SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2005

Sep 8, 2005

RENISON CONSOLIDATED MINES NL

ACN 003 049 714

Mail Address GPO Box 5268 Brisbane Old 4001 Level 5, Santos House 60 Edward Street Brisbane Old 4000

Phone: (07) 3303 0630 Fax: (07) 3303 0601 Email: admin@rcm.com.au

ASX ANNOHNCEMENT

9 September 2005

INSTITUTIONAL PLACEMENT OF SHARES ("SHARES") AND RELIEF UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

The Directors of Renison Consolidated Mines NL [Renison] advise that further to the announcement dated 31 August 2005 in relation to the placement of Shares that the Company has today issued and allotted 21,622,727 Shares at an issue price of 22 cents each without a disclosure statement.

We advise as follows:

• $(a)$ that this Notice is given pursuant to $s708A(5)(e)$ of the Corporations Act 2001(Cth) $(*Act");$ and
• (b) that at the date of this Notice the Company has complied with the provisions of Chapter 2M (as applicable to the Company) and s674 of the Act; and
• that pursuant to $s608A(6)(e)$ of the Act there is no information of the kind that would be $(c)$ required to be disclosed under $s713(5)$ of the Act if a prospectus were to be issued in reliance upon s713 in relation to the offer of the Shares.

The balance of the placement being 5,650,000 shares will be allotted shortly after the General Meeting to be held on 20 September 2005.

For and on behalf of the Board of Directors

JPK Marshall Company Secretary

For further information contact: Stephen Bizzell Phone: (07) 3303 0630 $(07)$ 3303 0601 Fax: E-Mail: admin@rcm.com.au Website: www.rcm.com.au