Red River Resources : RVR Hits High Grade and Broad Gold Intervals at Hillgrove

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ASX Release	20 DECEMBER 2021

Red River hits high grade and broad gold intervals at Hillgrove

Highlights:

• RVR receives assays for two holes at Eleanora-Garibaldi and three holes at Sunlight
• Further high-grade intercepts within broader mineralised zones build confidence for the Hillgrove operations and significant tungsten near Sunlight provides further upside. Results include;
• 19.7m @ 2.0 g/t Au from 221.5m downhole (SUN057)

1. Including 3.0m @ 10.4 g/t Au from 221.5m downhole

1. Including 0.5m @ 32.1 g/t Au from 224.0m downhole

1. Including 3.2m @ 2.0 g/t Au from 238.0m downhole

• 1. And 7.5m @ 2.4 g/t Au + 0.6% WO3 from 99.0m downhole
• 7.0m @ 3.6 g/t Au and 0.9% Sb from 175.0m downhole (ELG153B)
• 1. Including 4.0m at 4.7 g/t Au and 0.6% Sb from 178.0m downhole
• 3.0m @ 4.4 g/t Au and 2.2% Sb from 107.0m down hole (ELG160)
• 1. And 5.4m @ 2.7 g/t Au and 0.6% Sb from 174.6m downhole

• 1. Including 4.0m @ 3.3 g/t Au from 176.0m downhole
• RVR has nine holes completed awaiting assays and two rigs continue drilling at Hillgrove

Red River Resources Limited (ASX: RVR) is pleased to announce results of five holes from its drill program at the Hillgrove Gold project in NSW.

The planned drilling program at Eleanora-Garibaldi has been completed and the deposit remains open; drilling at Sunlight and Cosmopolitan is continuing. A further nine holes have been completed and are awaiting assays; results will be announced when they are received.

The high-grade intercepts within broader mineralised zones are encouraging and continue to build confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation. A significant tungsten intercept adjacent to Sunlight (SUN057) highlights the potential for additional value adding metals.

Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb) and RVR continues build this resource for a larger-scale, longer life mining operation.

Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia

1. [phone] F: [phone] E: [e-mail] www.redriverresources.com.au

Sunlight Discussion

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RVR has received assays for drill holes SUN056, SUN057 and SUN058 (Table 1). The first results from a surface program targeting the eastern extension of the Sunlight deposit. To date, six holes have been completed and one further will be drilled. The drilling aims to increase deposit knowledge and demonstrates that extensions of the Sunlight Mineral Resource to the east and at depth remain open.

Figure 1: Assay results from latest Sunlight drill program

Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
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Sunlight intervals of high-grade gold mineralisation include:

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• SUN056 intersected 1.1m @ 4.1 g/t Au from 91.3m downhole
• SUN056 intersected 26.1m @ 0.7 g/t Au from 270.2m downhole
  o Including 1.8m @ 3.9 g/t Au from 270.2m downhole o Including 1.6m @ 2.5 g/t Au from 288.4m downhole
• SUN057 intersected 7.5m @ 2.4 g/t and 0.6% WO3 from 99.0m downhole o Including 2.5m @ 1.9 g/t Au and 1.9% WO3 from 99.0m downhole o Including 0.5m @ 3.0g/t Au and 6.3% WO3 from 99.0m downhole
• SUN057 intersected 19.7m @ 2.0 g/t Au from 221.5m downhole

1. Including 3.0m @ 10.4 g/t Au from 221.5m downhole

1. Including 0.5m @ 32.1 g/t Au from 224.0m downhole

1. Including 3.2m @ 2.0 g/t Au from 238.0m downhole

Figure 2: Coarse grained visible gold in heal shear (SUN057)

Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: [phone] F: [phone] W: www.redriverresources.com.au	3

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Table 1: Drill hole assay summary Sunlight

Hole ID	From (m)	To (m)	Downhole	Au (g/t)	WO3 (%)
			Interval (m)
SUN056	91.3	92.4	1.1	4.1	-
and	270.2	296.3	26.1	0.7	-
Inc.	270.2	272.0	1.8	3.9	-
Inc.	288.4	290.0	1.6	2.5	-
SUN057	99.0	106.5	7.5	2.4	0.6
Inc.	99.0	101.5	2.5	1.9	1.9
Inc.	99.0	99.5	0.5	3.0	6.3
And (0.6m CL)	221.5	241.2	19.7	2.0	-
Inc.	221.5	224.5	3.0	10.4	-
Inc.	224.0	224.5	0.5	32.1	-
Inc.	238.0	241.2	3.2	2.0	-
SUN058	52.0	54.0	2.0	1.9	-
and	71.0	73.0	2.0	1.2	-
and	237.0	238.0	1.0	3.5	-
and	286.0	287.0	1.0	2.1	-

Note: All intervals of core loss (CL) have been assigned zero grade.

Figure 3:Scheelite (Tungsten) showing fluorescence under UV light in core of SUN057

Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
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Eleanora-Garibaldi Discussion

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RVR has received assays for drill holes ELG153B (re-drill) and ELG160 in the follow-upEleanora-Garibaldi drill program (Table 2). All holes intersected gold mineralisation. Garibaldi drill holes intercepted multiple zones of mineralisation with three parallel lodes, West Lode (Main Lode), Centre Lode and East Lode. In multiple holes, gold mineralisation exists between the lenses, providing broad lower-grade intervals. Five additional holes have been drilled at Eleanora-Garibaldi and are awaiting assay results.

Figure 4: Assay results from latest Eleanora-Garibaldi program

Eleanora-Garibaldi intervals of gold antimony mineralisation include:

• ELG153B intersected 7.0m @ 3.6 g/t Au and 0.9% Sb from 175.0m downhole
  o Including 4.0m at 4.7 g/t Au and 0.6% Sb from 178.0m downhole
• ELG160 intersected 32.0m @ 0.8 g/t Au and 0.4% Sb from 78.0m down hole o Including 3.0m @ 4.4 g/t Au and 2.2% Sb from 107.0m downhole
• ELG160 intersected 5.4m @ 2.7 g/t Au and 0.6% Sb from 174.6m downhole o Including 4.0m @ 3.3 g/t Au from 176.0m downhole

Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: [phone] F: [phone] W: www.redriverresources.com.au	5