Ann: Cobalt Footprint Grows - MOU with Rosslyn Hill Mining, page-2

COBALT FOOTPRINT GROWS FOLLOWING MOU WITH ROSSLYN HILL MINING HIGHLIGHTS  Riva Resources Limited (“Riva”, ASX: RIR) has agreed on an exclusive, non-binding Memorandum of Understanding (“MOU”) in relation to an exploration farm-in and joint venture with Rosslyn Hill Mining Pty Ltd (“RHM”), a wholly-owned subsidiary of LEADFX Inc. (TSX: LFX) and owner and operator of the adjacent Paroo Station lead mine near Wiluna.

 Under terms of the MOU, Riva may earn 75% of the cobalt, gold and copper mineral rights on all RHM’s Paroo Station project tenements through exploration expenditure totalling $6M over 4 years. o Upon reaching 75% in the mineral rights, Riva and RHM will enter into a formal joint venture on the basis of the terms agreed to under this MOU.  The MOU relates to RHM’s 46km2 tenement package and infrastructure at the Paroo Station lead mine, situated immediately east and south of Riva’s Tabac Cobalt Gold Project. o Riva’s footprint will be expanded to over 157km2 within the Yerrida Basin and encompasses a number of prospective, regional-scale geological structures, and geophysical / geochemical anomalies.

o Detailed exploration programme planning, including drilling anticipated for February 2017, is now underway for the entire 157km2 project area. Programme of Works approval already received for the first five drill holes, as proof of concept drilling on RHM’s ground.  Riva will work closely with RHM staff to leverage off the many years of exploration and mining experience gathered on potentially similar geological settings, including providing assistance on environmental and heritage matters.

Riva Resources Limited (ASX: RIR) (“Riva” or “the Company”) is pleased to announce that it has entered into an exclusive MOU with Rosslyn Hill Mining Pty Ltd ("RHM”), a wholly-owned subsidiary of LEADFX Inc. (TSX: LFX), which will form the basis of a formal farm-in and joint venture agreement. Under terms of the MOU, Riva may earn a 75% interest in the Paroo Station project tenements adjoining the Tabac Project by sole funding exploration totalling AUD$6M over a 4-year period. If the Company elects to withdraw at any point during the farm-in period, Riva will forfeit any interest earned and will retain no residual rights.

The MOU also provides a framework for sharing access to key items of infrastructure and services at the Paroo Station mine site to realise mutual benefits for Riva’s neighbouring projects. This includes key items such as the use of on-site office and accommodation facilities, shared access to water infrastructure and sharing of geological, environmental and heritage data. Most significantly the MOU provides Riva with a large, prospective land holding from which the Company hopes to expand its base and precious metal interests.

The MOU and benefits contained herein are exclusive to Riva. Figure 1: Project location plan. RHM’s tenements highlighted in red, Riva’s in blue Riva’s Managing Director, Jonathan King, commented: “By securing access to key infrastructure and providing a base for operations, this MOU strengthens Riva’s position in what represents a potentially substantial cobalt exploration opportunity. We look forward to working closely with Rosslyn Hill in sharing the rewards of what is shaping up to be a highly promising joint venture.” Technical Information RHM’s Paroo Station project comprises a 4,590Ha (45.9km2) tenement package located 30km west of Wiluna in the northern Goldfields Region of Western Australia.

The lead carbonate deposits at the Paroo Station mine are hosted in outlying rocks of the Earaheedy Basin, which in turn are developed on rocks of the Yerrida Basin, host to the drill indicated cobalt-gold mineralisation at Tabac. The near flat-lying, statabound lead deposits are confined to the Earaheedy Basin with very limited exploration drilling beyond the contact between the Earaheedy and Yerrida Basins, and not to the necessary depths to intersect the perceived Tabac host, the Bubble Well Member.

The MOU with RHM encompasses all granted mining leases (M53/501-504, M53/1002 and M53/1088), exploration licences (E53/695, E53/644 and E53/1560) and a single prospecting lease (P53/1528). TABAC Paroo Station Figure 3: Tenement subject of the RHM MOU. RHM’s tenements highlighted in red, Riva’s in blue Revised Drilling Program In addition to the exploration work planned on the Tabac Project, Riva has committed to a minimum exploration spend of $500,000 on RHM’s ground during the first year of the farm-in period. The Company, via RHM, has already received Programme of Works approval for 5 “proof of concept” diamond drillholes.

The drilling remains subject to the satisfaction of the native title party, and is anticipated to move towards completion in Q1, 2017. Rebranding The new ASX ticker code for the Company (formerly Dragon Energy) is now “RIR”. The Company’s new website address is www.rivaresources.com.au. For further enquiries, please contact: Jonathan King Managing Director +61 8 9322 6009 [email protected]