SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2012

Apr 1, 2012

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RENISON CONSOLIDATED MINES NL

ACN 003 049 714

Mail Address PO Box 10470 Adelaide St Brisbane Qld 4001

Level 6 316 Adelaide Street Brisbane Qld 4000

Phone: (07) 3108 3500 Fax: (07) 3108 3501 Email: admin@rcm.com.au

ASX ANNOUNCEMENT

2 April 2012

RSNG Convertible Notes Interest Payment and Note Redemption.

March 2012 Convertible Note Interest Payment

Renison Consolidated Mines NL advises that, in relation to the interest on the March 2012 Convertible Notes for the period from 1 October 2011 to 31 March 2012, the company will be paying the interest by the issue of fully paid ordinary shares.

In accordance with the terms and conditions of the notes the company has the option to pay the interest owing by the issue of ordinary shares in Renison at a rate calculated as the 10 day volume weighted average price of the ordinary shares discounted by 10%. For the 10 day period up to 31 March 2012 the discounted vwap is $0.0009. For each note held at the record date interest of 1.98 cents is payable which in accordance with the terms and conditions converts to 22 shares per note. The shares will be issued on 10 April 2012.

Note Redemption

The notes mature on 31 March 2012. In accordance with the terms and conditions of the notes (as approved at EGMs held on 31 March 2009) the Company advises that it will be exercising its right to convert the Notes at the Maturity Date, and thus discharge the indebtedness of the Company to repay the Notes, by issuing Shares to Noteholders with a value calculated on a 10 day VWAP, discounted by 15%. For the 10 day period up to 31 March 2012 the discounted vwap is $0.00085. For each note this equates to 388.235 shares per note. The shares will be issued on 10 April 2012.

For and on behalf of the Board of Directors

JPK Marshall Company Secretary

For further information contact: Paul Marshall Phone: (07) 3212 9212 E-Mail: pmarshall@rcm.com.au

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