ASX Announcement 28 June 2016

DEEP DIAMOND DRILLING TO COMMENCE AT DOOLGUNNA

Key Points

• Reverse circulation (RC) drilling at the Cuba prospect at Doolgunna identifies significant intersections of key pathfinder elements, including anomalous copper, indicating a proximal volcanic hosted massive sulphide (VHMS) system

• Deep (~800 metre) diamond hole now planned for Cuba in July 2016 to better target the VHMS system

• Exploration also being advanced at the Orient-T10 prospect ahead of a planned RC drilling program in July 2016

RNI NL (ASX: RNI) is pleased to provide an update on its ongoing drilling and exploration activities at the Cuba and Orient-T10 copper-gold prospects, which are part of the Company's extensive Bryah Basin exploration portfolio in Western Australia (Figure 3).

Cuba Prospect - Doolgunna Project

The Cuba prospect at RNI's Doolgunna Project is located between the high-grade DeGrussa and Monty VHMS discoveries and is hosted within the same favourable geological setting (Figures 1 and 3).

RNI recently completed three RC holes - CBRC0004, CBRC0005 and CBRC0006 - as part of its ongoing Cuba drilling and exploration program before access was lost due to rains and local flooding.

While drilling samples have been dispatched to the laboratory for assay, hand-held XRF results (Note: Yet to be confirmed by assay) have identified significant intersections of key pathfinder elements including anomalous copper (Refer Figure 2 and Table 1).

The presence of elevated and anomalous copper, coincident with key pathfinder elements, is considered significant as these are key indicators of a proximal VHMS deposit.

Significant hole deviations in the RC drilling program at Cuba hampered RNI's efforts to reach planned drilling depths.

As a result, RNI has decided that the remaining RC holes originally planned as part of the Cuba program will be replaced with a deep diamond hole of approximately 800 metres beneath the anomalous zone. Deeper diamond drilling will more accurately target the source of the VHMS anomalism, while providing key structural and lithological information from Cuba.

Drilling of the deep diamond hole at Cuba is expected to commence in July 2016, subject to the receipt of the remaining RC drilling assays. A DHEM survey will also be run down this deep diamond hole.

While the DHEM survey program for the RC holes drilled at Cuba remains incomplete due to the issues outlined above, the off-hole EM target (see ASX announcement 31 May 2016) was identified as a previously unknown fault structure.

RNI NL ABN 77 085 806 284

34 Bagot Road Subiaco Western Australia 6008 PO Box 298 West Perth WA 6872 T +61 8 9489 9200 F +61 8 9489 9201 E [email protected] W rninl.com.au

Figure 1: RNI's Cuba Prospect and Doolgunna Project showing proximity to DeGrussa and Monty

Figure 2: Cuba Prospect - Plan view - Location of drill collars

Orient-T10 Prospect - Cashmans Project

In addition to the drilling and exploration program at Cuba, RNI has been advancing follow-up exploration programs at the Orient-T10 copper-gold prospect within the Cashmans Project (Figure 3) ahead of an upcoming drilling program.

As detailed in the ASX announcement of 19 April 2016, the exploration activities at Orient-T10 have included a gravity survey, surface mapping, surface sampling and data reviews.

Ground-based surface EM surveys are scheduled to commence this week to enhance planned RC drill targeting.

In addition, Heritage surveys across the Orient-T10 area are also expected to commence this week.

RC drilling at Orient-T10 is expected to commence in late July 2016 following the completion of this survey work and receipt of access approvals.

Figure 3: RNI's Bryah Basin copper-gold portfolio including Cuba and Orient-T10 prospect locations

For and on behalf of the RNI Board.

DAVID MORGAN

CHIEF EXECUTIVE OFFICER

Table 1 - Cuba RC Drilling - Significant Anomalous Results

* - Denotes pXRF results only

ABOUT RNI NL

RNI NL is exploring for high-grade VHMS copper-gold discoveries in Western Australia's highly-prospective Bryah Basin region.

RNI has consolidated a 1,343km2 copper-gold exploration portfolio in the Bryah Basin divided into five well- defined project areas - Doolgunna, Morck's Well, Forrest, Cashmans and Horseshoe Well.

The Company's exploration focus is on VHMS horizons identified at the Cuba and Orient-T10 prospects and the Forrest-Wodger-Big Billy trend.

RNI is headed by an experienced board and management team.