Red River Resources Limited (ASX: RVR) is pleased to report high-grade silver-indium results from its sampling at the Isabel polymetallic massive sulphide project in Herberton, south-west of Cairns in Northern Queensland.

Isabel is one of the two known highest-grade silver-indium projects in Australia granted to Red River last month, with the Company continuing reconnaissance sampling.

Red River collected the first six samples (ISRX001-006) from the main Isabel mine mullock. The next three (ISRX007-009) were from mullock around a small shaft beside the track. Samples ISRX010-013 were from mullock at the northern shaft. Samples ISRX014-018 were from the Isabel Extended area with samplesIXR016- 018 from mullock at a shaft on the side of the hill. Sampling has confirmed the presence of exceptionally high-grade polymetallic massive sulphide mineralisation in the project area.

The Isabel Project (EPM 27221) contains the Isabel polymetallic massive sulphide zinc-lead-copper-silverindium deposit and the Lady Isabel Extended exploration target. The Isabel deposit consists of massive zinc-lead-copper sulphide mineralisation (also containing indium and silver), occurring in fine-grained and breccia quartzites. The sulphides are located on both sides of a northwestsoutheast trending quartz feldspar dyke. Extensive work was carried out on the Isabel deposit in the early 1970s, culminating in the completion of a feasibility study and definition of a non JORC compliant Ore Reserve

Mareeba Mining engaged independent geological and mining consultants Watts, Griffis and McOuat (WGM) to complete an evaluation of the Isabel deposit (preliminary mining study) and Australian Mineral Development Laboratories (AMDEL) to undertake metallurgical test work on samples from Isabel. WGM completed the Isabel Deposit Evaluation in 1972, calculating an historical reserve estimate (non-JORC 2012 compliant) of 83,236 long tons at an average grade of 15.3% zinc, 2.8% lead, 0.7% copper, 3.7 ounces silver, 12.1 ounces indium and 25.5 ounces cadmium per ton for the Isabel deposit within 100 metres of the surface.

Cautionary Statement

Readers are cautioned that the historical estimate for the Isabel Deposit, referred to in this announcement is a historical estimate under ASX Listing Rule 5.12 and is not reported in accordance with the JORC Code. A Competent Person has not done sufficient work to classify the historical estimates as mineral resources or ore reserve in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

The Lady Isabel Extended target area is approximately 150m south of the Isabel deposit. No recorded mining has taken place within the Lady Isabel Extended target area but numerous small diggings with shafts and development to about 6m depth or so are present.

In the early 1970s, Mareeba Mining completed geological mapping, soil geochemistry and an IP survey, followed by additional geophysical surveying, geochemistry and drilling in the early 1980s. Six NQ diameter diamond drill holes targeting geophysical and geochemical anomalies were completed, MIED 1, 2 and 3 in 1980 and MIED 4, 5 and 7 in 1981. Material polymetallic massive sulphide mineralisation was intersected in drill holes MIED 1 and MIED 3.

Next Steps

Red River plans to acquire unreleased historic drill data on EPM27221 from the Department of Natural Resources, Mines and Energy and then complete drill targeting to convert the Isabel resource to a JORC 2012 compliant resource. Other work to be completed includes geological mapping and sampling to define further extensions to known mineralisation.

About Red River Resources (ASX: RVR)

RVR is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development. RVR's foundation asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017. RVR has recently acquired the high-grade Hillgrove Gold Project in New South Wales, which will enable RVR to build a multi-asset operating business focused on base and precious metals. Gold production at Hillgrove is scheduled to restart at the end of CY2020.

Contact:

Mel Palancian

Tel: +61 3 9017 5380

Email: mpalancian@redriverresources.com.au

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