Exploration Review Highlights New Targets

July 2015 JORC Resource (0.6g/t gold cut-off)

Tonnage (Mt)

Grade (g/t Au)

Gold (Koz)

Indicated

13.2

2.3

962

Inferred

2.7

2.0

169

Total

15.8Mt

2.2g/t

1,131

Criteria

JORC Code explanation

Commentary

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

• The Okvau Resource Estimate is based on a database of 132 drill holes, for a total of 33,351m. The database can be further broken down into 100 diamond drill holes for 30,046m and 32 reverse circulation (RC) drill holes for 3,305m.

• Intersection spacing for the Okvau Resource Estimate is typically 30m by 30m

• Diamond drilling is used to recover a continuous core sample of bedrock. Standard 1m length half-core samples are submitted for assay.

• RC drilling is used to collect 1m samples these are riffle split at the drill rig to produce a 3-5kg sub-sample.

• Sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh) and assays are conducted at the ALS Vientiane assay laboratory

• Standards, duplicates and blanks are inserted in sample batches to test laboratory performance

Drilling techniques

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

• A truck-mounted Boart Longyear LF70 M/P drill rig is used to drill 4' RC holes and diamond core.

• Core diameter varies - HQ, HQ3, NQ, NQ2, NQ3, NTW and BTW used at various times. Core was oriented by means of a REFLEX ACT orientation tool, following a standard operating procedure, for all drilling subsequent to 2009. A spear tool was used for drilling pre-2009.

Drill sample recovery

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• All RC 1m samples and sub-samples (pre- and post-split) are weighed at the rig, to check that there is adequate sample material for assay. Any wet or damp samples are noted and that information is recorded in the database; samples are usually dry.

• Diamond core recovery is routinely monitored by comparing recovered core vs drill run lengths - recovery is consistently high. Recovery data are recorded on drill run lengths

• There is no relationship between sample recovery and grade

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

• All RC chips and diamond core is routinely logged (qualitatively) by a geologist, to record details of regolith (oxidation), lithology, structure, mineralization and/or veining, and alteration. In addition, the magnetic susceptibility of all samples is routinely measured. All logging and sampling data are captured into a database, with appropriate validation and security features.

• A geotechnical log is produced for all diamond core

• Core has been logged to an appropriate level of detail by a geologist to support mineral resource estimation

• 100% of core is logged, with the mineralised intersections logged to greater detail

• In addition to the geological logging, other features recorded are: location of bulk density samples; downhole camera survey calibration, intervals confidently oriented; and core condition.

Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

• Most RC samples are dry and there is no likelihood of compromised results due to moisture.

• Diamond drill core is sawn in half with core split using a core saw; one half is preserved as a geological record, the other is sent for assay.

• All types of samples are prepared for assay at the NATA accredited ALS Cambodia sample prep facility in Phnom Penh; and that facility has been inspected, at the request of Renaissance, numerous times and most recently by Mr Brian Wolfe in July 2015. Samples are dried for a minimum of 12 hours at 100˚C; crushed with a Boyd Crusher, to -2mm, with a rotary splitter attached, to deliver a 1.0-1.2kg split; which in turn is pulverized to -75µm by an Essa LM2 or LM5 Ring Mill. A standard >90% pass rate is achieved (with particle size analysis performed on every fifteenth sample as a check).

• At least three field duplicate samples are collected at an RC drill rig to monitor sampling precision; while coarse crush duplicates of diamond core are generated at the sample prep stage (because of the need to preserve drill core).

Criteria

JORC Code explanation

Commentary

• This sample technique is industry norm, and is deemed appropriate for the material

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

• All samples are sent to the NATA accredited ALS Laboratory in Vientiane, Laos, for fire assay (Au-AA25: 30g ore grade method, total extraction by fusion, with an AA finish); and most samples are also sent to the similarly accredited ALS Lab in Brisbane, Australia, for multi-element ICP analysis, after partial extraction by aqua regia digest (ME-ICP41: ICP-AES for As, Fe, Mn & Zn; and ME-MS42: ICP-MS for Ag, Bi, Cu, Hg, Mo, Pb, Sb, Te & W).

• Fire assay is considered a total gold assay

• This method has a lower detection limit of 0.01g/t gold

• All magnetic susceptibility measurements of drill samples are made with a Terraplus KT-10 magnetic susceptibility meter.

• An appropriate sample preparation and analytical quality control programme confirms that the gold fire assay values are of acceptable quality to underpin mineral resource estimation.

• Industry-standard QAQC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available CRMs and blanks into all batches - usually 1 of each for every 20 field samples. Some blanks used are home-made from barren basalt or quarry granite. QAQC data are routinely checked before any associated assay results are reviewed for interpretation, and any problems are investigated before results are released to the market - no issues were raised with the results reported here.

• All assay data, including internal and external QA/QC data and control charts of standard, replicate and duplicate assay results, are communicated electronically

Reviews of QA/QC data by Mr Brian Wolfe concluded that the quality of assay data is sufficient to support reporting of the Okvau Resource Estimate

Verification of sampling and assaying

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.

• The calculations of all significant intercepts (for drill holes) are routinely checked by senior management.

• Two twin holes confirm confidence in the existence and projection of mineralised intercepts over short ranges

• All field data associated with drilling and sampling, and all associated assay and analytical results, are archived in a relational database, with industry-standard verification protocols and security measures in place.

• Mr Brian Wolfe visited the site in June 2015 and visually verified the results in the assay database against mineralised intersections evident in the stored half core

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

• Drill hole collar locations are first surveyed with a hand-held GPS instrument (which generates relatively inaccurate RL values), but the locations of all holes used in Mineral Resource estimates are verified or amended by proper survey using a differential GPS by and external contractor (with excellent accuracy in all dimensions). All locations are surveyed to the WGS84 UTM grid. Collar coordinates are routinely converted to a local grid (local N is approx. equivalent to UTM 045˚), with an appropriate transformation about a common point - to simplify the interpretation of drill cross sections.

• Accuracy for all drill holes used in the Mineral Resource estimate is 20cm vertical and 10cm horizontal, which is acceptable for resource estimation

• The first 9 holes of the Okvau resource drill hole database were not surveyed downhole; but all subsequent holes were surveyed downhole at 25-30m intervals for all types of drilling, using a single-shot REFLEX survey tool (operated by the driller and checked by the supervising geologist).

• A topography surface was generated using the collar positions surveyed by DGPS; this was considered adequate

Data spacing and distribution

• Data spacing for reporting of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.

• For the Okvau Resource Estimate, spacing of intercepts is nominally 30m by 30m

• This drill spacing is considered to be sufficient to establish geological and grade continuity appropriate for the declaration of Indicated Resources

• No samples within a 'zone of interest' are ever composited For the Okvau Resource Estimate, samples have been composited to 3m as discussed in Section 3.

Orientation of data in relation to geological

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering

• Drill holes are usually designed to intersect target structures with a 'close-to-orthogonal' intercept.

Criteria

JORC Code explanation

Commentary

structure

the deposit type.

• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• Drilling has been done at various orientations; moderately to steeply northwest dipping is the most common

• Most of the drill holes intersect the mineralised zones at sufficient angle for the risk of significant sampling orientation bias to be low.

Sample security

• The measures taken to ensure sample security.

• The chain of custody for all drill samples from the drill rig to the ALS Sample Prep facility in Phnom Penh is managed by Renaissance personnel. RC drill samples are transported from the drill site to the Okvau field camp, where core is logged and all samples are batched up for shipment to Phnom Penh.

• Sample submission forms are sent to the ALS Sample Prep facility in paper form (with the samples themselves) and also as an electronic copy. Delivered samples are reconciled with the batch submission form prior to the commencement of any sample preparation.

• ALS is responsible for shipping sample pulps from Phnom Penh to the analytical laboratories in Vientiane and Brisbane, and all samples are tracked via their Global Enterprise Management System.

• All bulk residues are stored permanently at the ALS laboratory in Vientiane, except for samples from the first 9 drill holes, which were submitted to Mineral Assay and Services Co in Thailand

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.

• All QAQC data are reviewed routinely, batch by batch, and on a quarterly basis to conduct trend analyses, etc. Any issues arising are dealt with immediately and problems resolved before results are interpreted and/or reported.

• Comprehensive QAQC audits have been conducted on this project by Duncan Hackman (August 2009, February 2010 & November 2011), SRK (February 2013) and Nola Hackman (January 2014).

• Mr Brian Wolfe reviewed the data for the Renaissance drilling up to July 2015 and concluded that there are no concerns about data quality.

Criteria

Explanation

Commentary

Mineral tenement and land tenure status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

• The Okvau Project is comprised of two tenements: the Okvau Exploration Licence (No. 0187 MME MR EL) and the O Chhung Exploration Licence (No. 0185 MME MR EL), both of which are held (100%) in the name of Renaissance Minerals (Cambodia) Ltd, a wholly owned Cambodian subsidiary of Renaissance Minerals Ltd.

• The tenure is considered to be completely secure.

• The Okvau Exploration Licence is located within the broader Phnom Prich Wilderness Sanctuary area but located outside of the 'core zone'.

• The Royal Government of Cambodia (via the Ministry of Mines and Energy) is very supportive of the Project and has given assurances that mining will be allowed to proceed at Okvau.

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.

• Renaissance Minerals (Cambodia) Ltd was formerly named OZ Minerals (Cambodia) Ltd, a 100% owned subsidiary of OZ Minerals Ltd. OZ Minerals was formed in 2009 by the merger of Oxiana Ltd (who initiated the Okvau Project) and Zinifex.

• Oxiana and OZ Minerals completed the following work at Okvau between 2006 and 2011: a resource drill-out of the Okvau deposit; plus a regional geological interpretation of Landsat imagery; stream sediment geochemistry, with some soil sampling follow-up; airborne magnetic and radiometric surveys over both ELs, and various ground geophysical surveys (including gradient array IP); geological mapping and trenching; and the initial drill testing of various exploration targets.

Geology

• Deposit type, geological setting and style of mineralisation.

• The Okvau deposit is interpreted as an 'intrusion-related gold system'. It is hosted mostly in Cretaceous age diorite and, to a lesser extent, in surrounding hornfels (metamorphosed, fine-grained clastic sediments). Gold mineralization is hosted within a complex array of sulphide veins, which strike northeast to east-west, and dip at shallow to moderately steep angles, to the south and southeast.

• Moderate to high grade gold mineralisation is located within both the main shears and secondary linking faults and splays.

• Mineralisation is structurally controlled and mostly confined to the diorite. The highest grade intersections generally occur at the diorite-hornfels contact. A minor portion of the mineralisation within the Okvau Resource Estimate is present outside the diorite, in the metamorphosed sediments.

• The host diorite at Okvau is one of numerous similar Cretaceous-aged intrusions in eastern Cambodia, which are believed to be related to an ancient subduction zone that was located to the east, off the coast of current Vietnam.

Drill hole Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

  • easting and northing of the drill hole collar

  • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

  • dip and azimuth of the hole

  • down hole length and interception depth

  • hole length.

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

• The Okvau Resource Estimate is based on a database of 132 drill holes, for a total of 33,351m. The database can be further broken down into 100 diamond drill holes for 30,046m and 32 reverse circulation (RC) drill holes for 3,305m.

• Intersection spacing for the Okvau Resource Estimate is typically 30m by 30m

Data aggregation methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• Compositing done the Okvau Resource Estimate is discussed in Section 3

Relationship between mineralisation widths

• These relationships are particularly important in the reporting of Exploration Results.

• The majority of drill holes intersect the mineralisation at a sufficient angle for the risk of sampling orientation bias to

Criteria

Explanation

Commentary

and intercept lengths

• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

be low

Diagrams

• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

• Appropriate maps are included in the body of this release.

Balanced reporting

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

• All significant exploration results for activity being reported on the Company's tenure are included in figures 1, 2 and 3.

Other substantive exploration data

• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• Surface geological mapping and detailed structural studies have helped inform the geological model of the Okvau Deposit.

• References to IP geophysics refer to chargeability and resistivity results from various induced polarization geophysics methodologies. Current results refer to reprocessing of historical IP geophysics data.

• Renaissance has completed a Pre-Feasibility Study, the results of which are reported the release dated 27 July 2015. The PFS study included metallurgical, geotechnical and hydrological studies.

Further work

• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• Further drilling at the Okvau Deposit will be undertaken to test lateral extensions of the known mineralisation

• Further drilling will be undertaken to test new targets, as potential is recognized.