ASX RELEASE

ASX RELEASE 24th April 2014

ASX code "RVY"

Board of Directors:

Geoff Gilmour

Managing Director

Greg Cunnold

Technical Director

Graeme Clatworthy

Non-executive Director

Level 2 23 Barrack Street Perth, 6000

Tel: +61 8 9221 0090

Fax: +61 8 9221 0095

ABN 86 121 985 395

Quarterly Activities Report For the Period Ending 31 March 2014 HIGHLIGHTS

• High grade REE results from the first pass drilling programme at the Longonjo prospect Angola.

• The purchase of the remaining 50% of the JORC 520k oz

Miyabi Gold Project Tanzania goes unconditional.

• Mineralogy, metallurgy and petrology work commenced on Longonjo REE pulps.

• Tanzanian Commissioner of minerals confirms Illegal miners must be removed from Miyabi & Kitongo.

• Continued review of potential new Projects.

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ASX RELEASE

Projects Ozango Project, Angola (Rift Valley 70%)

High grade REE results released from the first pass drilling at Longonjo, The first prospect to be advanced in the newly acquired Ozango Project in Angola.
Highlights included:

• 4m composite assays up to 11.32% TREO

• All drill holes returned significant REE mineralisation from surface over an area 600m x 500m

• Mineralisation remains open in all directions and at depth

• Broad mineralised intercepts from surface including:

39m @ 4.48% TREO from surface

21m @ 5.33% TREO from surface

32m @ 4.94% TREO from surface

20m @ 6.75% TREO from surface


Figure 1: Drilling at Longonjo

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ASX RELEASE

The assay results pertaining to the first pass drilling programme initiated at Longonjo in January
2014 and completed during February 2014 have been returned. As previously announced (24
January 2014) the drilling aimed to test the bedrock mineralisation beneath a +0.5% REE soil anomaly some 3.5km long and 1.7km wide.(figure 4) The Rotary Air Blast (RAB) drilling was carried out to blade refusal on a nominal 100m x 100m, staggered grid pattern and has tested an area of approximately 600m x 500m. Drilling encountered significant rare earth mineralisation - in every hole (Table 1). Mineralisation remains open in every direction and at depth. A drill hole location plan illustrating the significant intersections is presented below.

Figure 2: Longonjo RAB drill hole location plan


Assay results relate to four metre composite samples compiled on site and submitted to Intertek (Walvis Bay - Namibia) for sample preparation with the resulting pulps sent to Genalysis (Perth - Australia) where analysis was carried out by way of fusion with an ICP-MS finish. The highest TREO composite result returned was 11.32%, detailed in the section below.

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ASX RELEASE



Figure 3: Longonjo RAB, drill sections 857100N (looking North)

The Directors consider the initial Longonjo RAB drilling programme an unmitigated success. Whilst drilling has tested only a small portion of the soil anomaly the geochemistry has been qualified at depth with broad intersections of significant rare earth mineralisation over an area with sufficient potential to delineate substantial tonnages. The mineralisation occurs from surface and remains open in every direction as well as at depth. A 'fly through' is posted on the Rift Valley Resources website.
Link to fly through: www.riftvalleyresources.com.au
The Company considers the metallurgical assessment of Longonjo to be the next priority. To this end RVY has engaged the services of Gavin Beer, a consultant metallurgist who specialises in REE metallurgy and has worked on deposits for Arafura Resources, Peak Resources and Mkango Resources amongst others. Gavin has initiated a metallurgical characterisation test work Programme.

This work is aimed at:

1. Identifying if there is any natural size versus grade concentration that may aid ore beneficiation.

2. Assessing if magnetics may be used for the upgrading rare earth minerals.

3. Investigating the potential for gravity separation.

4. Conducting a mineralogy assessment.
The test work is scheduled to take 4 weeks, the results of which will be announced to the market as they come to hand.

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ASX RELEASE



Figure 4: Previous sampling Longonjo large REE foot print


Figure 5: Longonjo Carbonatite vent, looking west from National highway

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ASX RELEASE

Background Information


The Longonjo REE prospect is located within the Ozango Project, approximately 600km southeast of the Angolan capital Luanda and 50km west of the regional city of Huambo. It is located proximal to good infrastructure including roads, towns and the recently recommissioned railway which links the area to the deep water Atlantic port of Lobito.

Figure 6: Location of Ozango Project containing Longonjo REE prospect

The Ozango Project consists of a single Exploration Licence (009/01/07T.P/ANG-MGMI/2011) that covers a large area of 3,670 square kilometres. The property extends for 100 kilometres in an east- west direction and varies between 28 to 46 kilometres in width. The northeast corner of the property comes to within 17 kilometres of Huambo.

Figure 7: Ozango project showing Longonjo REE Prospect and other major targets

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ASX RELEASE

The Project area covers some 3,670km2 of Archaean/Palaeoproterozoic greenstone rocks that have been intruded by Cretaceous felsic volcanics, carbonatites and kimberlites. These rocks are considered highly prospective for REE, phosphate, copper, iron ore and gold. To date, however, this area has seen very little modern exploration.
The Longonjo REE prospect is the first target within the Ozango Project to be drill tested by Rift Valley. Located near the town of Longonjo in the north-central portion of the Project area the prospect centers on a Cretaceous age, Carbonatite intrusive. The geology is typical of REE mines and prospects globally including Lynas Corp's Mt Weld deposit in Western Australia and Peak Resources' Ngualla deposit in Tanzania.
A soil geochemical sampling program undertaken at Longonjo over an area of 8km2 defined a large and robust 3.5km long and 1.7km wide +0.5% REO anomaly which remains open to the west. A follow up trenching and pitting program carried out to test the bedrock within the soil anomaly returned highly encouraging results of up to 18.9% TREO from the pit bedrock samples. The drilling program aims to test the subsurface mineralization and will also provide sufficient sample for an initial metallurgical assessment to be carried out.

Miyabi Project, Tanzania (Rift Valley 50%)

The purchase of the remaining 50% of the Miyabi gold project is now unconditional; Settlement of the purchase will take place on the Transfer of the tenement licences to Carlton Miyabi Tanzania (a subsidiary of Rift Valley) Terms of the sale USD$400,000 in cash plus USD $100,000 in Rift Valley shares on a 5 day vwap on completion of the tenement transfer.

Kitongo Project, Tanzania (Rift Valley 100%)

Application has been lodged for the renewal of the retention licenses RL002/2009, RL003/2009 and RL004/2009. Further discussions with the new Commissioner continue on illegal mining activity & access at Kitongo.

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ASX RELEASE

We advise in accordance with Australian Stock Exchange Limited Listing Rules 5(6) that the exploration results contained within this ASX Release is based on information compiled by Mr Greg Cunnold who is a member of the Australian Institute of Mining and Metallurgy. Mr Cunnold is a consultant of Rift Valley Resources Ltd and has consented in writing to the inclusion in this ASX Release of matter based on the information so compiled by him in the form and context in which it appears. Mr Cunnold has sufficient experience relevant to the style of mineralisation and type of deposit under consideration to be qualified as a Competent Person as defined by the

2012 Edition of the "Australian Code for reporting of Exploration Results, Mineral Resources and Ore

Reserves".

The information in this release that relates to Metallurgical Testwork is based on information compiled and / or reviewed by Mr Gavin Beer who is a Member of The Australasian Institute of Mining and Metallurgy and a Chartered Professional. Mr Beer is a Consulting Metallurgist with sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report such information. Mr Beer consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


For further information please contact:

Geoff Gilmour

Managing Director

Rift Valley Resources Limited

Tel: +61 8 9221 0090
Fax: +61 8 9221 0095 info@riftvalleyresources.com.au

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Tenement Information as at 31 March 2014

Country

Project

Name

License Name

License no.

% held as at 31

Dec

2013

Disposed

/ acquired during quarter

% Held as at 31

March

2014

Tanzania

Kitongo

Mwamazengo South - Hasanet

HQ-P20825

100%

-

100%

Kitongo

Mwamazengo South

HQ-P22362

100%

-

100%

Kitongo

Ugambilo East

HQ-P22364

100%

-

100%

Kitongo

Kitongo West

HQ-P22428

100%

-

100%

Kitongo

Mwamazengo SE

HQ-P22557

100%

-

100%

Kitongo

Ugambilo East

HQ-P26791

100%

-

100%

Kitongo

Mwamazengo South

HQ-P26792

100%

-

100%

Kitongo

Mwamazengo South - Hasanet

PL2697

100%

-

100%

Kitongo

Kitongo West

PL3566

100%

-

100%

Kitongo

Mwamazengo South East

PL3616

100%

-

100%

Kitongo

Busongo North

PL4618

100%

-

100%

Kitongo

Ugambilo North

PL6385

100%

-

100%

Kitongo

Kitongo West

PL6499

100%

-

100%

Kitongo

Mwamazengo SE

PL6543

100%

-

100%

Kitongo

Mwamazengo

PL6629

100%

-

100%

Kitongo

Mwamazengo South

PL6631

100%

-

100%

Kitongo

Ugambilo East

PL8441

100%

-

100%

Kitongo

Busongo

PL8699

100%

-

100%

Kitongo

Ugambilo RL

RL0002

100%

-

100%

Kitongo

Kitongo RL

RL0003

100%

-

100%

Kitongo

Mwamazengo RL

RL0004

100%

-

100%

Tanzania

Miyabi

Miyabi South Idahina

HQ-P26826

50%

-

50%

Miyabi

Miyabi South West

HQ-P21345

50%

-

50%

Miyabi

Miyabi North

PL4536

50%

-

50%

Miyabi

Miyabi Mwabomba North

PL4592

50%

-

50%

Miyabi

Miyabi Northwest

PL5115

50%

-

50%

Miyabi

Miyabi South

PL6369

50%

-

50%

Miyabi

Miyabi South

PL6382

50%

-

50%

Miyabi

Miyabi Airport

PL6593

50%

-

50%

Miyabi

Miyabi Mwabomba West

PL6752

50%

-

50%

Miyabi

Miyabi Dyke

PL8933

50%

-

50%

Miyabi

Miyabi Mwabomba Central

PL8934

50%

-

50%

Tanzania

Nyang'ombe

Nyang'ombe North

HQ-P19030

100%

-

100%

Nyang'ombe

Nyang'ombe West

HQ-P20490

100%

-

100%

Nyang'ombe

Nyang'ombe North

HQ-P22316

100%

-

100%

Nyang'ombe

Nyang'ombe North

PL3534

100%

-

100%

Nyang'ombe

Nyang'ombe BEAL

PL6502

100%

-

100%

Angola

Ozango

Ozango

009/01/07T.P/ ANG- MGMI/2011

70%

-

70%

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