Redhill Resources Corp
TSX VENTURE : RHR

Redhill Resources Corp

March 31, 2011 09:00 ET

Redhill Closes Morgan Rare Earth Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2011) - Redhill Resources Corp. (TSX VENTURE:RHR) ("Redhill" or the "Company") is pleased to report it has closed the mineral claim purchase agreement (announced by the Company January 21, 2011) with Blair Naughty ("Naughty") to purchase a 100% interest in the Morgan mineral claims, located in the Wicheeda carbonatite belt in Central British Columbia (the "Agreement"). The property is approximately 4,200 hectares in size and situated in the vicinity of Canadian International Minerals Ltd. Carbo rare-earth element prospect. The western boundary of the Morgan claims is approximately seven kilometers east of Canadian International Minerals Carbo property.

The Morgan property is also in the vicinity of Spectrum Mining Corp.'s Wicheeda discovery of carbonatite-hosted rare-earth elements. Results from Spectrum's 2008 and 2009 drilling are presented in a paper titled "The Wicheeda Carbonatite-Syenite Breccia Intrusive Complex Hosted Rare Earth Deposit". Within the paper, Spectrum announced the following from 2009 drilling: "Examples of some of the intersections are 144 metres (m) averaging 12,924 parts per million (ppm) (1.3%) Cerium, 6,403 ppm (.64%) Lanthanum and 2,599 ppm (.26%) Neodymium in hole 2009-09 (2.2% REE over 144 m) and 72 m averaging 18,310 ppm (1.83 %) Cerium), 7,296 ppm (.73%) Lanthanum and 3,547 ppm (.35%) Neodymium in hole 2009-07 (2.92% REE over 72 m)." Spectrum also stated, "In 2009, eleven diamond drill holes totaling 1,835 meters were drilled into the 'Main Zone' from two new drilling platforms. All eleven drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions."

Under the terms of the mineral claim purchase agreement Redhill paid Naughty $10,000 in cash and issued 2.5 million common shares of the Company for the 100% interest.

For further information, please see the company's news release January 21, 2011, which is available under the company's profile on SEDAR.

This news release has been reviewed by Brent Butler, a Qualified Person as that term is defined in NI 43-101.

REDHILL RESOURCES CORP.

Graham Harris, Chairman

"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."

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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