Red Mountain Mining Ltd : 23.05.2013 - Additional High Grade Gold and Silver Results Extend Ulupong Discovery at Lobo, Batangas Gold Project.

Perth-based Red Mountain Mining Limited (ASX: RMX) ("the Company", "Red Mountain") is pleased to announce new high-grade gold surface sample results from the Ulupong gold discovery, at the Lobo prospect within the Company's flagship Batangas Gold Project, located
120 kilometres south of Manila in the Philippines.
The results include 6.63 g/t gold (Au) and 67.4 g/t silver (Ag) from sub-cropping quartz- sulphide boulders in the Bigaan-Ulupong area, which is located approximately 800m along strike to the northeast of the ULOC 4 trench where a recent result of 1.4m @ 1.26 g/t Au including 0.3m @ 5.3 g/t Au was produced across northern extensions of the ULOC 4 vein. Previous sampling across the vein at ULOC 4 intersected 0.45m @ 23.39 g/t Au and sampling along the vein produced results of 19m @ 9.77 g/t Au including 7m @ 23.58 g/t Au.
The channel sampling results, combined with new soil sampling geochemistry, have defined a greater than one kilometre (km) long corridor of mineralisation at the south-western end of the
>2 km long Ulupong structure (see Figure 1 below). Drilling is now planned to test the high- grade veins and soil anomalies at Ulupong as part of the next phase of drilling, which is
expected to be funded by the Rights Issue announced on 15 May 2013.
Red Mountain Managing Director, Mr Jon Dugdale, commented: "The Ulupong discovery is starting to look very significant. High-grade gold, in outcropping veins, is supported by strong soil anomalies over a one kilometre strike length. We are excited at the prospect of drilling this new discovery, along with the other high grade, near surface targets at Pica and Japanese Tunnels."

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Non-Executive Chairman Non-Executive Director Head Office

Managing Director Company Secretary West Perth Western Australia 6005

Keith Rowe www.redmm.com.au

Non-Executive Director info@redmm.com.au

At Lobo, a series of epithermal lodes and breccias have now been mapped over a combined strike length of more than 15 kilometres. Previous drilling has only tested approximately a 500 metre strike length of the interpreted lode structures, to shallow depth of less than 200 metres. High-grade gold shoots have been identified at South West Breccia (Indicated and Inferred Mineral Resource of 194,000 t @ 7.2 g/t Au 45,000oz Au) and the new West Drift gold discovery. Regional trenching and channel sampling has identified new veins/lodes and high- grade gold targets for further drilling at Ulupong, Pica and Japanese Tunnels . Prospecting and sampling of new epithermal veins continues.

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Non-Executive Chairman Non-Executive Director Head Office

Managing Director Company Secretary West Perth Western Australia 6005

Keith Rowe www.redmm.com.au

Non-Executive Director info@redmm.com.au

For further information about Red Mountain Mining please visit www.redmm.com.au or contact:

Jon Dugdale Kevin Skinner Managing Director Field Public Relations (+61) 402 298026 (+61) 414 822631 (+61) 8 9226 5668 (+61)8 8234 9555

Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company which listed on the ASX in September 2011. The Company's strategy is to unlock the potential of 'under-developed' gold and polymetallic projects in the greater Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside.

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Non-Executive Chairman Non-Executive Director Head Office

Managing Director Company Secretary West Perth Western Australia 6005

Keith Rowe www.redmm.com.au

Non-Executive Director info@redmm.com.au

The Company holds direct and indirect interests in tenements in the Philippines that contain significant gold resources and several high-quality copper-gold prospects. The company has focussed on upgrading the Batangas resources through discovery of new, high grade, gold zones at Archangel, and Lobo (eg West Drift, Pica, Ulupong). The company will continue drilling with the objective of increasing the size and grade of JORC compliant Mineral Resources at Batangas then completing a scoping study to demonstrate the viability of a potential high- margin gold project development. The majority of the copper-gold prospects are available for joint venture.
Other gold opportunities will be reviewed on a continuous basis.

The information in this report relating to Exploration Results and Mineral Resources is based on information compiled by Mr Jon Dugdale who is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles of mineralisation under consideration to qualify as a Competent Person as defined in the 2004

Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Dugdale is a full time employee and Executive Director of Red Mountain Mining Ltd. Mr Dugdale consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Non-Executive Chairman Non-Executive Director Head Office

Managing Director Company Secretary West Perth Western Australia 6005

Keith Rowe www.redmm.com.au

Non-Executive Director info@redmm.com.au

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