ASX Announcement 20 October 2015

RNI COMPLETES SALE OF GOLD ASSETS

RNI NL (ASX: RNI) is pleased to announce the Company has settled the sale of its gold assets to Metals X Limited (ASX: MLX) for a consideration of 18 million fully-paid ordinary MLX shares.

Details of the sale, which was approved by RNI shareholders on 15 October 2015, were set out in RNI's ASX announcement of 31 July 2015.

As announced to the ASX on 26 August 2015, RNI intends to use the proceeds from the orderly sale of the MLX shares to repay the Company's debt with Taurus Resources No 2 Fund (Taurus).

RNI has the flexibility to repay the $23 million Taurus debt via a combination of the proceeds from the Company's pro-rata non-renounceable Entitlements Issue (see ASX announcement 19 October 2015), the issue of RNI shares to Taurus for up to $2.5 million and the orderly sale of the MLX shares.

The sale of the gold assets to MLX and the repayment of the Taurus debt will enable RNI to focus on its extensive copper-gold exploration portfolio in Western Australia's Bryah Basin.

As announced to the ASX on 6 October 2015, drilling and exploration of priority volcanic hosted massive sulphide (VHMS) targets across this Bryah Basin tenement package is planned to commence in November 2015. These include targets at the Doolgunna, Morck's Well and Forrest Projects.

For further information, contact:

MILES KENNEDY EXECUTIVE CHAIRMAN

Tel: +61-8 9489 9200

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

RNI COMPLETES SALE OF GOLD ASSETS 20 OCTOBER 2015

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Forward-Looking Statements

This announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted.

This announcement does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of RNI. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing RNI does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward- looking statement is based.

RNI NL ABN 77 085 806 284