Red Mountain Mining : RMX Raises $1m via Placement

RED MOUNTAIN MINING LTD

22 February 2018

RED MOUNTAIN MINING LIMITED RAISES $1 MILLION VIA PLACEMENT

Capital Raising

Red Mountain Mining Limited (the Company, Red Mountain or RMX) is pleased to advise that it has received firm commitments to raise $1 million (before costs) (Placement).

There was significant interest in the Placement from professional and sophisticated investors, and the Company expects to issue the Placement shares on or around 28 February 2018.

The Placement will be undertaken using the Company's available placement capacity, comprising 76,702,848 shares issued at an issue price of $0.009 under the Company's 15% placement capacity and 34,426,037 shares issued at an issue price of $0.009 under the additional 10% placement capacity, approved by shareholders at the Company's 2017 annual general meeting.

The funds will be directed towards assessment of new assets, further ongoing assessment of the Mokabi-Kasiri Project results for Copper potential, general working capital and any costs of the offer.

Xcel Capital Pty Ltd acted as Lead Manager to the Placement.

Other Business

The Company is also considering carrying out a Share Purchase Plan (SPP) which all shareholders as of the relevant record date will be eligible to participate in. Further details will be provided to the market should RMX elect to pursue an SPP.

For and on behalf of the Board Mauro Piccini, Company Secretary