Friday 22nd June 2018

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Redhill Resources Corp (RHR:CA)

Company Overview

The Vancouver based junior exploration company Redhill Resources Corp. is led by a group of seasoned professionals with a history of successes in the mineral exploration and development industry. It is a well-capitalized, progressive exploration company with significant gold interests in Tanzania, East Africa and a rare earth property in Utah.

Redhill Resources has positioned itself as Tanzania's premier exploration company and is prepared for an aggressive year in both its current exploration and future acquisitions in the East Africa region.


Name: Nyakagwe Project
Location: near Lake Victoria, Tanzania, East Africa
Resource: gold

Redhill Resources has entered into an agreement with Thamani Mines to acquire an initial 85 percent interest and the right to acquire the remaining 15 percent ownership of 46 Primary Mining Licenses in Tanzania, East Africa, which together form three blocks of claims totaling approximately 400 hectares named the Nyakagwe property. This area has been highly sought after by both exploration and mining companies and is 6 km from the world renowned African Barrick Gold's Bulyanhulu mine in the prolific Lake Victoria Greenstone Belt. The geology of this area has proven to be rich in gold, diamonds, iron, uranium, nickel, platinum, and other minerals.

The Bulyanhulu mine is an underground operation with reserves of 12 Million ounces of gold. Annually, it produces approximately 260,000 ounces at a grade of 9.2 grams of gold per tonne (g/t). The Bulyanhulu gold mine is located in northwest Tanzania, in the Kahama district of the Shinyanga region, approximately 55 kilometres south of Lake Victoria and approximately 150 kilometres south west of the city of Mwanza, a regional business center, and the second largest city in Tanzania. The Bulyanhulu mine has a mine life of 25+ years, with proven and probable reserves of 11,026,000 ounces of gold, and mineral resources of 2, 877,000 ounces of gold and inferred resources of 3,345,000 ounces of gold.

Name: Honey Comb Hills
Location: western Utah, USA
Resource: lithium, beryllium, rubidium

On Nov. 2, 2010 Redhill announced the signing of a Letter of Intent for the purchase of a 100 percent interest in 64 unpatented lode claims in western Utah. The lode claims comprise the Honey1-5 and the HC claims. These claims are collectively known as the Honey Comb Hills Project. The property’s area covers approximately two square kilometres and is located in the Fish Creek District, Juan County.

The property is in close proximity to Great Western Minerals Group's Deep Sands REE project and comprises an alkalic rhyolite flow dome complex, which exhibits highly anomalous rare earth elements, lithium, beryllium, and rubidium. Mineralization occurs throughout the dome but appears to be higher in grade within a flat to gently dipping sequence of rhyolite tuffs and breccias. Initial surface sampling report assays of up to 1043 ppm total rare earth oxides, 1690 ppm lithium, greater then 1000 ppm beryllium and 1270 ppm rubidium.

Name: Morgan Property
Location: near Wicheeda Lake, British Columbia, Canada
Resource: cerium, lanthanum, neodymium

Redhill has recently acquired a 100 percent interest in the Morgan mineral claims, located in the Wicheeda carbonatite belt in Central British Columbia. The property is approximately 4,200 hectares in size and situated approximately seven kilometres east of Canadian International Minerals Carbo property.

Redhill plans to proceed with a detailed mapping and sampling program in the near future.

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