30 Ma 2012

Proposed acquisition of gold and copper-gold

assets in Philippines

30 May 2012

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Transaction highlights

Proposed acquisition of significant gold and copper-gold assets in the Philippines containing an Indicated Resource of 10,150,000 tonnes @ 1.2g/t for 393,000 contained ounces of gold and an Inferred Resource of 3,800,000 tonnes @ 0.88g/t for 108,000 contained ounces of gold, with significant further exploration potential

High grade intercepts below resources include 61m @ 5.1g/t gold, 64m@ 3.5 g/t gold, and 26m @ 4.03g/t gold

Assets situated within one of most endowed regional provinces for major gold and copper gold porphyry discoveries

Established social and environmental “license to operate”.

Red Mountain Mining acquiring a proven and experienced exploration team in the Philippines

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Transaction highlights (cont’d)

Strengthening of Red Mountain Mining’s management team by securing senior executive and Board members from Mindoro

Transaction strongly in line with Red Mountain Mining’s strategy and provides a unique opportunity to apply modern Australian mining techniques to acquired projects

Acquisition to be fully funded by issue of Red Mountain Mining shares

Unanimously recommended by both Red Mountain Mining and Mindoro Boards

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Transaction overview

• Acquisition of Mindoro Resources’ Philippine based gold and copper-gold tenements and projects in exchange for Red Mountain Mining shares

• Following interests are to be acquired by Red Mountain Mining:

– 100% interest in Batangas Project with JORC Indicated Resources of 393,000 ounces and Inferred Resources of 108,000 ounces (total 500,000 ounces), including Archangel – Kay Tanda resource and Lobo - South West Breccia resource and other gold and copper-gold projects within the extensive exploration tenements located on Luzon Island

– 75% interest in copper-gold exploration tenements at Tapian San Francisco located near Surigao on Mindanao Island.

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Transaction structure

• Mindoro assets to be acquired:

– 100% of MRL Gold (Australia) Pty Ltd – 100% owner of Mindoro's Philippines subsidiaries, the beneficial owner of the Assets

• Placement – consideration will be:

– *100,000,000 non-voting shares in Red Mountain Mining; and

– *50,000,000 performance shares in Red Mountain Mining that convert into Non-Voting Shares upon increasing the indicated resource to 600,000 ounces and delivering an “economically viable” scoping study

– Non-voting shares convert to voting shares once distributed to Mindoro shareholders

• Commercial loan:

– Upon execution of sale agreement, Red Mountain Mining will enter into a secured loan agreement up to A$1 million on usual commercial terms to Mindoro to commence focussed drilling of Archangel higher grade gold resource targets

* Shares issued based on a no-consolidation basis 5

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Conditions precedent

• Completion of satisfactory due diligence by both parties

• Board and required shareholder approval of both Red Mountain Mining and Mindoro

• Completion of restructuring of Mindoro subsidiary MRL Gold Phils Inc whereby assets and beneficial rights to assets are transferred to another Mindoro subsidiary

• Toronto Stock Exchange approval of sale of Mindoro assets for shares

• Red Mountain Mining to retain working capital of no less than A$4.2m (less amount of loan drawn down) at time of completion of transaction (provided completion occurs on or prior to 31 August 2012)

• Entity which house projects, being MRL Gold (Australia) Pty Ltd (on a consolidated basis inclusive of their Philippines subsidiaries) having net working capital of no less than US$0 at time of completion of transaction

• If required by ASX, Red Mountain Mining preparing a full form prospectus, lodging prospectus with ASIC and raising minimum amount under that prospectus

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Corporate structure post acquisition

RMX MDO

MRL Gold (Australia) 100%

Philippines Subsidiary 100%

Tapian SF (75%) Batangas Gold Projects (100%)

75%

100%

100%

75% 100%

Current RMX shareholders

35-44% 56-65% Current MDO shareholders

75% Options for

100%

MDO Nickel Assets

100%

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Pan de Azucar (75%)

Minimax, Philippines

Partner

25%

25% 25%

MRL Phils. Inc. 100%

100%

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Red Mountain Mining Board

Pre acquisition Post acquisition

Neil Warburton (Exec Chairman and Acting CEO)

Neil Warburton (Exec-Chairman) and then Non-Exec Chairman within 9 mths of completing sale

Keith Rowe (Executive Director)

Jon Dugdale Exec Director and then CEO within 9 mths of completing sale

Michael Wolley (Non-Executive Director)

Howard Walker (Non-Executive Director)

Keith Rowe (Non-Executive Director)

Michael Wolley (Non-Executive Director)

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Batangas Gold Projects (100% beneficial interest) • Archangel (Gold) • Lobo (Gold) • El Paso, Calo, Talahib (Cu-Au)

MAP KEY

Gold and Cu-Au project Major Deposit Recent major discovery Major Gold project

Tapian San Francisco Project (75% beneficial interest)

• TSF and Canaga (Cu-Au)

Sianna Gold 85,000oz pa (Red 5)

Masbate Gold 200,000oz pa (CGA Mining)

Co-O Gold 100,000oz pa (Medusa Mining)

Tampakan, Cu-Au, BFS (Xtrata/Indophil)

Didipio Cu-Au (Oceana)

Portfolio of projects in key mining districts

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Sea

LOBO

LOBO PROJECT - SW BRECCIA, High grade epithermal gold veins; 5km to test

NI 43-101/JORC Resource Estimate Indicated: 270,000 t @ 6.49 g/t (56,380 oz)

Inferred: 61,000 t @ 5.35 g/t (10,540 oz)

Tenements / applications

Porphyry copper-gold prospects

Resource area

Epithermal vein trends

Copper showing

Historical mine / workings

Other prospects

MAP KEY

4km 0 N

Manila

Luzon

Mindanao

ARCHANGEL PROJECT - KAY TANDA, NI 43-101/JORC Resource Estimate

Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz)

High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au

Talahib

Calo

El Paso

Marita

BATANGAS GOLD PROJECT & COPPER-GOLD TARGETS, 100%

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Sea

Biga

Marita

Bootin

N 1 Km 0

Archangel MPSA boundary

Younger cover rocks

Extensively altered volcanics intruded by diorite and dacite

Advanced argillic zones

Resource area

Epithermal gold-silver zones

Porphyry-related stockworks

Vein breccia

Boulder field of mineralized massive silicified rocks

Old mine working

Copper showing

Porphyry related IP anomalies

BATANGAS, ARCHANGEL PROJECT

MAP KEY

Kay Tanda NI 43-101/JORC Resource Estimate Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz)

High-grade Intercepts at depth: eg

61m @ 5.1 g/t Au, 64m @ 3.5 g/t Au, 26m @ 4.03 g/t Au

XS 9350N

• 6km gold zone with porphyry at depth • Drilling high-grade “feeders” to build resource • Resources low-strip and excellent metallurgy EL PASO PROJECT

TALAHIB PROJECT

BATANGAS PROJECTS

Crazy Horse Taysan Project

KAY TANDA GOLD RESOURCE

ARCHANGEL PROJECT

LOBO GOLD PROJECT

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BATANGAS, KAY TANDA PROJECT

Drill hole KT-07

Mineralized intercept (high grade)

Interpreted mineralization boundaries

End of hole 75m

Mineralized intercept

60m

PLDH-01 PL-30

105.2m

82m

28m @ 1.47 g/t Au

PL-22

9600

E

9800

E

9700

E

9500

E

9400

E

PL-16

PL-17

50m

51m 70m 70m

60m 75m

PL-23 PL-31 PL-24

PL-37

20m @ 1.09 g/t Au

26m @ 4.03 g/t Au, 179.16 g/t Ag

2m @ 12.24 g/t Au

60m @ 1.46 g/t Au, 25.10 g/t Ag

10m @ 6.84 g/t Au

KAY TANDA CROSS SECTION 9350N: Shallow Resource and “Feeder” Target

Batangas Projects

MAP KEY

50m

Quartz - gold breccia veining

58m @ 1.53 g/t Au

Porphyry Target at Depth

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BATANGAS, LOBO GOLD PROJECT

?

?

?

?

?

?

Balisong

Nagtoctoc

Camo

Pica

Old Lobo Copper Mine

?

N 500m 0

Alluvium Limestone Mineralized and altered volcanics Mineralization shoot Epithermal vein breccia trend Silica cap Old Mine High-Grade shoot target

EL PASO PROJECT

TALAHIB PROJECT

BATANGAS PROJECTS

Crazy Horse Taysan Project

KAY TANDA GOLD RESOURCE

ARCHANGEL PROJECT

MAP KEY

SW Breccia Mineral Resource: High Grade Shoot • Indicated - 270,000 t @ 6.49 g/t Au; 56,380 oz Au • Inferred - 61,000 t @ 5.35 g/t Au; 10,540 oz Au • open to SW and depth

Lobo shoot? 12m @ 7.42 g/t Au

Camo, at surface, • 4.5m @ 488 g/t Ag, 1.8% Cu • 3.5m @ 114 g/t Ag, 0.36% Cu

Southwest Breccia Recent results eg LB-62: • 8.0m @ 8.8 g/t Au and • 7.45m @ 12.4 g/t Au

Line 10170N

Line 10155N

• High-grade gold shoots targeted • 5km mapped epithermal lode structures • Drilling planned to build resource LOBO GOLD

PROJECT

Pica: Epithermal veins: • 13.65m @ 2.49 g/t Au in • 213m @ 0.18% Cu, 0.30 g/t Au

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Trench

Outcrop

Drill hole number

Gold grade g/t x true vein width in meter > 50

20 – 49

10 – 19

TR OC LB-20 79.5

10,1

55N

10,1

72N

10,1

85N

10,2

00N

10,2

15N

10,1

25N

10,1

00N

10,1

40N

20m

TR-1 358.2

OC channel 159.2

100

50

170m ASL

150

B B’

TR-2 210.1

LB59-11 13.8 LB58-11

59.4

LB60-11 19.3

LB61-11 Drill hole (2011)

BATANGAS, LOBO PROJECT SOUTHWEST BRECCIA LONGITUDINAL PROJECTION, G/T x Thickness Contour

Batangas Projects

MAP KEY

?

?

LB61-11 67.5

LB62-11 92.23

LB63-11 27.89

LB65-11 36.2

LB64-11 54.59

Open at Depth

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10,000E

LB63-11,

Batangas Projects

MAP KEY

SOUTHWEST BRECCIA CROSS SECTION 10155N

20m

Drill hole Mineralized intercept

LB-25

End of hole 75m

160 ASL

140

120

100

80

60

40

Quaternary colluvium Quaternary agglomerate Quartz - barite - pyrite vein breccia Quartz - pyrite ± clay alteration Clay - pyrite - quartz ± chlorite ± magnetite alteration Quartz - clay - pyrite alteration Propylitized andesite wallrock (chlorite - clay - pyrite ± quartz ± calcite ± magnetite) Fault gouge

9,950E

LB60-11,

LB58-11,

LB64-11,

25.20m

20.75m

40.50m

43.9m

109.10m

138m

56.2m @ 4.24 g/t Au Inc. 7.71m @ 28.4 g/t Au

4.90m @ 11.1 g/t Au inc. 2.0m @ 21.1 g/t Au

18.35m @ 1.52 g/t Au inc. 1.0m @ 5.72 g/t Au Inc. 1.0m @ 5.25 g/t Au

9.0m @ 2.14 g/t Au inc. 2.0m @ 6.06 g/t Au

9.05m @ 6.56 g/t Au inc. 5.0m @ 11.27 g/t Au

16.13m @ 7.75 g/t Au

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BATANGAS, LOBO PROJECT F

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10,000E

85.00m

104.50m

129.10m

57.30m

Trench: 11m @ 19.1 g/t Au

52.25m 69.40m

LB61-11

Batangas Projects

MAP KEY

SOUTHWEST BRECCIA CROSS SECTION 10172N

20m

Drill hole Mineralized intercept

LB-07

End of hole 75m

17.4m @ 9.60 g/t Au

8.3m @ 6.30 g/t Au

32.2m @ 9.50 g/t Au

14.0m @ 1.67 g/t Au

13.3m @8.30 g/t Au

180m ASL

160

140

120

100

80

60

40

LB62-11

6.7m @ 10.7 g/t Au inc. 3.7m @ 18.0 g/t Au

LB65-11

Quaternary agglomerate Quartz - barite - pyrite vein breccia Quartz - pyrite ± clay alteration Clay - pyrite - quartz ± chlorite ± magnetite alteration Quartz - clay - pyrite alteration Propylitized andesite wallrock (chlorite - clay - pyrite ± quartz ± calcite ± magnetite) Fault gouge

11.90m

7.45m @ 12.4 g/t Au inc. 5.30m @ 15.6 g/t Au

9,950E

30.25m

57.60m

7.75m @ 4.67 g/t Au inc. 1.95m @ 11.8 g/t Au

8.0m @ 8.82 g/t Au inc. 3.0m @ 15.4 g/t Au

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BATANGAS, LOBO PROJECT F

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PHILIPPINE FAULT ZONE

Mindanao Sea

Lake Mainit

SURIGAO CITY

Tenements

TSF alteration (hi-temp propylitic, argillic, phyllic, potassic) Major porphyry copper-gold discovery Porphyry copper-gold prospects Copper-gold / gold mine or significant prospect Other copper-gold or gold prospect Fault

MAP KEY

10 km 0 N

Manila

Luzon

Mindanao

PAN DE AZUCAR

BATANGAS

SURIGAO PROJECTS

SILANGAN (Boyongan-Bayugo) Philex Mining, in feasibility Resource contains 5b lbs Cu, 9moz Au

TAPIAN SAN FRANCISCO (TSF) PROJECT Extensive Porphyry-related alteration, copper-gold showings, IP geophysics

Epithermal gold and porphyry copper-gold mines of MMC

SIANA PROJECT – Red 5 (ASX)

In production for 85k oz pa

Masapelid

PORPHYRY COPPER-GOLD: TAPIAN-SAN FRANCISCO

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Key value-driving milestones for 2012/13

Milestone Objective Timing

Archangel gold resource drilling Drill test “feeder” structures and upgrade and define resources

Q3/4 2012

Batangas gold resource upgrade Significant gold resource increase Q1 2013

Drill Porphyry Copper-Gold Targets Breakthrough Cu-Au discovery Q2 2013

Batangas gold scoping study Viable gold project for Feasibility Q2 2013

Next Steps, subject to delivery of above: • Batangas Gold: Increase resource, commence FS and permitting • Porphyry Targets: Drill definition of key discovery

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Indicative transaction timetable

Timetable Date

Completion of due diligence by Mindoro and Red Mountain Mining 12 June

Execute Agreements (binding) 14 June

Mindoro AGM 28 June

Red Mountain Mining Meeting Documents dispatched 29 June

Red Mountain Mining Shareholder Meeting 31 July

Completion of Sale under Agreements (Satisfaction of Conditions Precedent and issue of Consideration Securities, etc) 8 August

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In summary...

• Company transforming transaction

– assets in mineral rich districts of Philippines

• Highly prospective gold exploration resource projects

– with further exploration potential

• Established mining and exploration licences in place

• Existing cash reserves to enhance acquired resources

• Strong board and highly skilled exploration team

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Contact details

Neil Warburton, Executive Chairman & Acting CEO E: neil.warburton@redmm.com.au M: +61-408 935 014 Investor relations – Ronn Bechler E: ronn.bechler@marketeye.com.au M: +61-400 009 774 Red Mountain Mining head office Suite 1, 2 Richardson Street West Perth WA 6005 P: +61-8 9226 5668 F: +61-8 9486 8616 E: info@redmm.com.au W: www.redmm.com.au

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mailto:neil.warburton@redmm.com.au�mailto:ronn.bechler@marketeye.com.au�mailto:info@redmm.com.au�mailto:info@redmm.com.au�mailto:info@redmm.com.au�mailto:info@redmm.com.au�mailto:info@redmm.com.au�http://www.redmm.com.au/�http://www.redmm.com.au/�http://www.redmm.com.au/�http://www.redmm.com.au/�http://www.redmm.com.au/�http://www.redmm.com.au/�http://www.redmm.com.au/�

Qualified Person statement

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Mindoro’s Resource Statements are NI 43-101 and JORC Compliant. Jon Dugdale, the CEO and a director of Mindoro Resources and a member of the AusIMM, is a Competent Person as defined by the JORC Code, has more than five years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken, and has reviewed and verified the Mineral Resource statements contained in this news release. Mindoro’s exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 and is a Competent Person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release. Mr Climie is an executive and a director of Mindoro and is a member of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr Climie has more than five years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken. Mr Climie has consented to the release of the pertinent exploration related technical information in the form and context in which it appears.

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Disclaimer

The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law. This presentation is not an offer of securities for sale in the United States, nor does this presentation constitute a prospectus or other offering document in the United States or any other jurisdiction in which it is being used. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration there from. In providing this presentation, Red Mountain Mining has not considered the financial position or needs of the recipient. Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial and legal advisors. These statements are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Red Mountain Mining’s current expectations, estimates and projections about the industry in which Red Mountain Mining operates, and beliefs and assumptions regarding Red Mountain Mining’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Red Mountain Mining, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Red Mountain Mining caution shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Red Mountain Mining only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Red Mountain Mining will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

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Suite 1, 2 Richardson Street. West Perth, Western Australia, 6005 T +61 (08) 9226 5668 F +61 (08) 9486 8616 www.redmm.com.au

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Slide Number 1Transaction highlightsTransaction highlights (cont’d)Transaction overviewTransaction structureConditions precedentCorporate structure post acquisitionRed Mountain Mining BoardPortfolio of projects in key mining districtsSlide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Key value-driving milestones for 2012/13Indicative transaction timetableIn summary...Contact detailsQualified Person statementDisclaimerSlide Number 24