SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2011

Jan 9, 2011

RENISON CONSOLIDATED MINES NL

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ACN 003 049 714

Mail Address GPO Box 5268 Brisbane Qld 4001

Level 5, Santos House Phone: (07) 3303 0630 60 Edward Street Fax: (07) 3303 0601 Brisbane Qld 4000 Email: admin@rcm.com.au

PARTLY PAID SHARES (ASX CODE RSNCJ) NOTICE OF CALL OF HALF A CENT ($0.005) PER SHARE DUE AND PAYABLE BY 31 JANUARY 2011

Notice is hereby given that pursuant to the partly paid share call program the Company makes a call of one half of one cent ($0.005) per partly paid share. The call is due and payable no later than 5.00pm on 31 January 2011.

The partly paid shares on which the call remains unpaid after the due date will be subject to forfeiture in accordance with the Constitution of the Company and the Corporations Law. Partly paid shares for which the call remains unpaid at the end of 14 days after the due date will be immediately forfeited pursuant to the Corporations Law and will be sold by way of a public auction.

The last date for trading of the partly paid shares on a call unpaid basis on the Australian Securities Exchange will be 28 January 2011.

The last day for acceptance by the Company's Share Registry of lodgment of transfers of partly paid call unpaid shares will be 4 February 2011. The dispatch date, that is the last day to enter the call paid on the partly paid shares on the register, will be 11 February 2011.

This call has been made in accordance with a defined call program as required by no liability companies under the Listing Rules of the Australian Securities Exchange.

The remaining call program for the partly paid shares is:

(a) as to 0.5 cents: by 31 January 2011 (the call pursuant to this notice) (c) as to 1.0 cent: by 31 January 2012 (d) as to 15.4 cents: by 31 January 2013

In accordance with the Listing Rules of the Australian Securities Exchange the following additional information is provided:

• The latest available market price of the partly paid shares in the Company before the issue of this call notice on 7 January 2011 was 0.0 cents. During the three months preceding the date of this notice no trades were made.

• The latest available market price of the ordinary fully paid shares in the Company before the issue of this call notice was 0.5 cents on 7 January 2011. During the three months preceding the date of this notice the highest sale price and the lowest sale price of the ordinary fully paid shares in the Company was 0.7 cents on 12 October 2010 and 0.4 cents on October7,8,11,19,21,25,26,28 November-8,9,10,11,15,17,18,19,22,23,24,25,26,29,30 and December1,2,3,6,7,8,22,23.

• Since 30 June 2010, the date of the last audited accounts of the Company, the Company has expended $1,368,000 on exploration and administration.

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• The funds raised will be utilised as follows:

• ongoing exploration programs at the Company’s Agate Creek gold project including feasibility studies for the project’s development;

• further exploration of Renison’s coal assets;

• general working capital purposes.

• There is no material geological data available or results of any exploration activity that has not previously been announced to the ASX. There are no current programs of mining and exploration recommended other than ongoing exploration and development of the Agate Creek gold project and the Coal Projects in northern NSW.

• The following information is provided in relation to holdings of partly paid shares of the Directors of the Company:

Director	Number of Partly Paid Shares Held
RS Anthon	nil
SG Bizzell	85,332,534
DJ Vincent	nil

Each director has advised that it is his intention to pay the call in respect of all partly paid shares held by him or his interests on the due date.

JPK Marshall Company Secretary 7 January 2011

PLEASE RETURN THE ACCOMPANYING CALL NOTICE WITH YOUR CHEQUE PAYMENT IF PAYING BY CHEQUE

• (a) All cheques are to be made payable to Renison Consolidated Mines NL and crossed “not negotiable”. All cheques are to be drawn in Australian currency. Alternatively payment can be made using bpay.

• (b) The call notice together with your payment should be forwarded to Renison Consolidated Mines NL, C/- Link Market Services Ltd, Locked Bag 3415, Brisbane, QLD 4001 or in the reply paid envelope enclosed. If payment is made using bpay then the call notice does not need to be returned.

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Renison Consolidated Mines NL

ABN 75 003 049 714

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All Registry communications to: Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Australia Telephone: 1300 554 474 (02) 8280 7454 From outside Australia: +61 2 8280 7454 ASX Code: RSNCJ Website: www.linkmarketservices.com.au

THIS IS AN IMPORTANT DOCUMENT.

Should you have any doubt about how to deal with it please consult a financial adviser.

SRN/HIN:

	Number of Partly Paid Shares
	held on 7 January 2011:	[X,XXX]
Total amount payable at A$0.005
	per Partly Paid Share:	A$[X,XXX]
	Date of this Reminder:	10 January 2011
	Call Payment Due Date:	31 January 2011

CALL NOTICE – INSTALMENT FIRST NOTICE

The sum of $0.005 per Partly Paid Share is payable no later than 5:00pm (AEST) on 31 January 2011.

If trading has occurred between the date of this notice and the last day for trading the Partly Paid Shares, this payment must cover the balance of Shares held after settlement of trading has occurred.

Share PRICES

Latest available price of Partly Paid Shares before 7 January 2011: A$0.00 Highest market price of Partly Paid Shares in the three months before 7 January 2011: A$0.00 Lowest market price of Partly Paid Shares in the three months before 7 January 2011: A$0.00 During the three months preceding the date of this notice no trades were made. Consequences of Non-Payment

Refer to the back of this Call Notice for the consequences of non-payment.

PAYMENT OPTIONS – To make payment, you have two options detailed below.

Option 1: Paying By Bpay[®]

Option 2: Paying by Cheque, Bank Draft or Money Order

If paying by Bpay[®] , refer to the instructions overleaf. You do NOT need to return the acceptance slip below if you elect to make payment by Bpay[®] . Payment must be received via Bpay[®] before 5:00pm (AEST) on 31 January 2011. You should check the processing cut off-time for Bpay[®] transactions with your bank, credit union or building society to ensure your payment will be received by the Registry in time. By paying by Bpay[®] you will have deemed to have completed an Application Form for the number of Shares subject of your application payment.

If paying by cheque, bank draft or money order, complete and return the payment slip below with your Call Payment. No signature is required on the payment slip. The payment slip with your Call Payment must be received by the Registry before 5:00pm (AEST) on 31 January 2011.

Telephone & Internet Banking – Bpay[®] Contact your bank or financial institution to make this payment from your cheque, savings, debit or transaction account. More info: www.bpay.com.au ® Registered to Bpay Pty Ltd ABN 69 079 137 518

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Biller Code: 136507 Ref:

See overleaf for further details and instructions on how to complete and lodge this Call Notice, or how to pay for your Call.

THIS IS A PERSONALISED FORM FOR THE SOLE USE OF THE SHAREHOLDER AND HOLDING RECORDED ABOVE.

Please detach and enclose with payment Renison Consolidated SRN/HIN: Mines NL ABN 75 003 049 714 9999999 A Please complete information below, detach and send in with accompanying payment by the Closing Date. B Drawer Cheque Number BSB Number Account Number Amount of Cheque A$ Make your cheque, bank draft or money order payable to “Renison Consolidated Mines N.L. Call Account” and crossed “Not Negotiable” C PLEASE COMPLETE HERE* in case we need to contact you: Telephone Number – Business Hours Telephone Number – After Hours Contact Name ( ) ( )

Renison Consolidated Mines N.L.

HOw TO PAy FOR yOuR CALL

Option 1: If paying by Bpay[®] (available to Shareholders with an Australian bank account only)

If you elect to make payment using Bpay[®] you must contact your bank or financial institution to make this payment from your cheque, savings, debit or transaction account. For more information: www.bpay.com.au

Refer to the front of this form for the Biller Code and Customer Reference Number. Payments must be received by Bpay[® ] before 5:00pm (AEST) on 31 January 2011. If the Bpay[® ] payment is for any reason not received in full, Renison Consolidated Mines N.L. may treat you as paying the Call on as many Shares as the cleared monies will pay for. You should check the processing cut off-time for Bpay[®] transactions with your bank, credit union or building society to ensure your payment will be received by the Registry in time. Shareholders using the Bpay[®] Facility will be bound by the provisions relating to this Offer. you are not required to submit this Call Notice if you elect to make payment using Bpay[®] .

Option 2: If paying by cheque, bank draft or money order

Enter your cheque, bank draft or money order details in section A. Cheques, bank drafts or money orders must be drawn on an Australian branch of a financial institution in Australian currency, made payable to “Renison Consolidated Mines N.L. Call Account” and crossed “Not Negotiable”. Please ensure sufficient cleared funds are held in your account, as your cheque will be banked as soon as it is received.

Payment amount

Enter into section B the total amount payable by you. To calculate the total amount, multiply the number of Partly Paid Shares held by $0.005. If trading has occurred between the date of this notice and the last day for trading the Partly Paid Shares, this payment must cover the balance of Shares held after settlement of trading has occurred.

Contact details

Enter into section C your contact telephone number where we may contact you regarding your payment.

Consequences of Non-Payment

The Partly Paid Shares on which the call remains unpaid after the due date of 5:00pm (AEST), 31 January 2011, will be subject to forfeiture in accordance with the Constitution of the Company and the Corporations Act 2001 . Partly Paid Shares for which the call remains unpaid at the end of 14 days after the due date will be immediately forfeited pursuant to the Corporations Act 2001 and will be sold by way of a public auction. The proceeds will be applied towards the unpaid Instalment, interest charged and other transaction costs in respect of such sale. The balance, if any, will be paid to the registered holder of the forfeited Shares. Joint holders are jointly and severally liable to pay the Instalment.

Call Timetable

Call Timetable
Last day for trading Partly Paid RSNCJ Shares on ASX	28 January 2011
Last day for Registry to accept transfers of Partly Paid Shares	4 February 2011
Call Payment Date	31 January 2011
Despatch date, last day to enter the instalment paid on Partly Paid Shares onto the Register	11 February 2011
Transaction Confrmation Statements posted	15 February 2011

The latest available market price of the ordinary fully paid shares in the Company before the issue of this call notice was 0.5 cents on 7 January 2011. During the three months preceding the date of this notice the highest sale price and the lowest sale price of the ordinary fully paid shares in the Company was 0.7 cents on 12 October 2010 and 0.4 cents on October 7, 8, 11, 19, 21, 25, 26, 28 2010, November 8, 9, 10, 11, 15, 17, 19, 22, 23, 24, 25, 26, 29, 30 2010 and December 1, 2, 3, 6, 7, 8, 22 and 23 2010 respectively.

Privacy Clause: Link Market Services Limited advises that Chapter 2C of the Corporations Act 2001 requires information about you as a securityholder (including your name, address and details of the securities you hold) to be included in the public register of the entity in which you hold securities. Information is collected to administer your securityholding and if some or all of the information is not collected then it might not be possible to administer your securityholding. Your personal information may be disclosed to the entity in which you hold securities. You can obtain access to your personal information by contacting us at the address or telephone number shown on this form. Our privacy policy is available on our website (www.linkmarketservices.com.au).

HOw TO LODgE yOuR PAyMENT SLIP

A reply paid envelope is enclosed for your use. No postage stamp is required if it is posted in Australia. Alternatively, if you have lost the reply paid envelope, your completed payment slip with the payment for the call due may be mailed to the mailing address, or delivered to the hand delivery address, set out below. Your completed payment slip and payment for the call due must be received by the Registry no later than the call date shown overleaf.

Mailing Address	or	Hand delivery
Renison Consolidated Mines N.L.		Renison Consolidated Mines N.L.
C/- Link Market Services Limited		C/- Link Market Services Limited
Locked Bag 3415		Level 15, 324 Queen Street
BRISBANE QLD 4001		BRISBANE QLD 4000(Please do not use this address for mailing purposes)

Make sure you send your payment slip and cheque allowing enough time for mail delivery, so Link Market Services Limited receive them no later than 5:00pm (AEST), 31 January 2011. Please ensure sufficient cleared funds are held in your account, as your cheque will be banked as soon as it is received. Renison Consolidated Mines N.L. reserves the right not to process any payment slip and cheques received after the Call Due Date.