Range Resources : Director Appointments and Financing Update

('Range' or 'the Company')

(Corporate finance)

Richard Redmayne (Corporate broking)

t. +44 (0)20 7894 7000

Ben Romney / Helen Chan

t. +44 (0)20 7466 5000

e. rangeresources@buchanan.uk.com

Rupert Dearden / Richard Glass

t. + 61 8 6160 4900

e. rdearden@magnus.net.au

945 Wellington Street

West Perth, WA 6005

Australia

t. +61 8 9322 7600

f. +61 8 9322 7602

Suite 1A, Prince's House

38 Jermyn Street London, SW1Y 6DN United Kingdom

t. +44 (0)20 7025 7040

f. +44 (0)20 7287 8028

e. admin@rangeresources.co.uk www.rangeresources.co.uk

Further to the Company's announcement dated 1 December 2014 and following the changes to the composition of the Company's Board of Directors that were affected at the Annual General Meeting of the Company held 28 November 2014, the Board has resolved to appoint Mr. David Yu Chen and Ms. Juan (Kiki) Wang, the two nominees of Abraham Ltd, to the Board with immediate effect.
These appointments are made pursuant to Abraham's contractual right to appoint up to two Non-Executive Directors to the Board of the Company, arising from the Subscription Agreement entered into with the Company as part of their investment of US$12 million in Range earlier this year (see 15 May 2014 ASX release).
The Company's Board of Directors is now comprised of David Riekie, Ian Olson, David Yu Chen and Juan (Kiki) Wang.
Mr. Chen, 46, is currently the Vice Chairman and President of Hengxing Gold, a Hong Kong Stock Exchange listed gold mining company. He has over 15 years of corporate experience, having served as Chief Executive and Board member for companies listed both on US and Chinese stock markets. He founded Huashan Capital in 2009 to specialise in cross border investment transactions in the resources sector. His investment experience includes the establishment of a listed special purpose acquisition fund and venture capital investments. He has served as an independent director at Zhonglu Group, a Shanghai Stock Exchange listed diversified investment holding company, and serves as a director at SmartLink Ltd, a leading mobile payment service provider in China of which he is a lead investor.
Ms. Wang, 32, is currently an investment manager at Anterra Energy Inc. where she is responsible for Chinese investor liaisons. Prior to joining Anterra she was manager of corporate mergers and acquisitions at Land Ocean Energy Services Co. Ltd. Ms. Wang has a commercial banking background, having previously worked for Deutsche Bank and Bank of East Asia.
See appendix for further information in accordance with Schedule Two (g) of the
AIM Rules for Companies.

On 3 November 2014 the Company released an announcement entitled "Range signs conditional MOU for US$50 million funding." The Board has received confirmation that the position of Core Capital Management Co., Ltd ("Core") has not changed since the release of the 3 November 2014 announcement and that Core wish to proceed with a long-term investment of up to US$50 million in the Company ("Proposed Transaction"), subject to the completion of final due diligence.
Given the recent, significant changes in the Company's Board of Directors the
Proposed Transaction may not be completed within the timeframe set out in the 3
November 2014 announcement. The Company will advise the market of any further updates as they become available.
Pursuant to the Company's US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), the Company has made an undertaking to Lind that, to the best of its ability and subject to AIM and ASX listing rules, the Company's

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Shares will not be suspended from trading on either the ASX or AIM market for more than 5 days, commencing from the execution date of the loan facility agreement. In the event the Company's shares are suspended in excess of 5 days Lind may have a right to call the loan in accordance with the default clauses of the loan facility agreement. With the recent AIM suspension, the Company has utilised 2 of the 5 allowed days.
Shares in the Company are expected to resume trading on both ASX and AIM with effect from the lodgement of this announcement.

Schedule Two (g) information
Mr. Chen is currently or has been a director of the following companies in the last five years:

Mr. Chen holds 10,288,070 shares and 42,742,654 Unlisted Options (£0.01, 14 July 2018) in the Company.
Ms. Wang is currently or has been a director of the following companies in the last five years:

Ms. Wang does not hold any interest in the share capital of the Company.
There are no other matters in relation to the new directors that require disclosure under the AIM Rules.

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