Redhill Resources Corp.
TSX VENTURE : RHR

Redhill Resources Corp.

November 23, 2012 08:00 ET

GeoNovus Completes Due Diligence on Redhill's Nyakagwe Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2012) - Redhill Resources Corp. (TSX VENTURE:RHR) ("Redhill" or the "Company") is pleased to announce that GeoNovus Minerals Corp. (TSX VENTURE:GNM) ("GeoNovus") has completed and is satisfied with its due diligence on the Nyakagwe Properties (the "Nyakagwe Properties") in Tanzania.

Accordingly, Redhill will proceed with entering into a formal definitive agreement with GeoNovus for the disposition of the Company's Nyakagwe Properties, as discussed in detail in the Company's news release dated September 25, 2012.

The Nyakagwe Properties consist of forty-six primary mining licenses (PML's), and one prospecting license (PL) encompassing a combined area of approximately 500 hectares surrounded entirely by prospecting licenses and applications for prospecting licenses owned and presently being explored by Tembo Gold Corp. ("Tembo").

To find out more about Redhill Resources Corp., please visit our website at www.redhill-resources.com.

REDHILL RESOURCES CORP.

Andrew Bowering, President & CEO

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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