SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2007

Mar 4, 2007

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 ANNOUNCEMENT - 5 March 2007

31 MARCH 2007 CONVERTIBLE NOTE INTEREST PAYMENT AND NOTE REDEMPTION

Please find attached a copy of the notice to be sent to all holders of the 31 March 2007 Convertible Notes (ASX code RSNG) in relation to the redemption of the Notes and the payment of the interest for the six month period ended 31 March 2007.

For and on behalf of the Board of Directors

JPK Marshall Company Secretary

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

RENISON CONSOLIDATED MINES NL

ACN 003 049 714

31 MARCH 2007 CONVERTIBLE NOTE INTEREST PAYMENT AND NOTE REDEMPTION

Nos of notes held: Current IRP Status: SRN/HIN:

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Dear Noteholder

Renison Consolidated Mines NL ('Company') advises that in relation to the Company's Convertible Notes (ASX code RSNG) that the following dates are applicable to the six monthly interest payment for the period from 1 October 2006 to 31 March 2007 and for the redemption of the Notes.

Last day for trading RSNG - 23 March 2007 Record date for Interest Entitlement - 30 March 2007 Closing date for accepting Redemption Requests - 5:00pm (Sydney time) 9 April 2007 Interest payment date $-10$ April 2007 Conversion/Repayment/Dispatch date - 13 April 2007

Minimum Interest payment per note - \$0.05 (five cents). Anticipated interest payment is \$0.075 (seven point five cents). The exact interest payment per note, which is dependent upon the average \$A gold price for the period from 1 October to 31 March, will be advised on 2 April 2007.

Noteholders have previously had the option to elect to take the interest due to them in additional notes under an Interest Reinvestment Plan ('IRP'). This option still applies to the final interest payment due on 10 April 2007.

In relation to the redemption of the notes the noteholder has the option of redeeming the notes for cash, at the face value (\$1.00) of the notes held, or to convert the notes held into ordinary shares in Renison Consolidated Mines NL at a rate of 20 shares for each note held. As noted above holders have had the option to take interest payments in the form of additional notes under the IRP. In relation to the redemption of the notes the Company will follow the following unless otherwise advised by the noteholder:

Current Election re IRP	Note Redemption
Holder has not elected to partake in IRP: Holder has elected to partake in IRP:	Redemption in cash at \$1 per note Redemption in ordinary shares in Renison Consolidated Mines
	NL at the rate of 20 shares per note.

Should you wish to change your preference you can do so by selecting ONLY ONE of the options in the form below and returning it to our Share Registry before the closing date, 5:00pm (Sydney time) 9 April 2007.

Link Market Services Ltd Locked Bag A14, Sydney, NSW 1235

Name of Holder:

I/We wish to have ALL of our holding of Renison Consolidated Mines NL 31 March 2007 Convertible Notes repaid in eash at the rate of \$1 per Note

If you do not wish to change your current choice then you do not need to return this form.

If you have any queries please contact Paul Marshall on 07 3303 0630.

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