Redhill Closes Private Placement for $2,840,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2011) - Redhill Resources Corp. (TSX VENTURE:RHR) ("Redhill" or the "Company") is pleased to report it has closed its non-brokered private placement of 28,400,000 units at price of $0.10 per unit for gross proceeds of $2,840,000. Each unit is comprised of one common share and one share purchase warrant exercisable at a price of $0.15 for a period of two years.

Proceeds from the private placement will be used to fund exploration on the Company's Gascoyne Projects, to advance the Honey Comb Hills and Morgan rare-earth properties and for general working capital.

Finders' fees totaling $61,680 were paid in conjunction with the private placement.

All securities issued pursuant to this Private Placement are subject to a 4-month hold period from the Closing Date. 

REDHILL RESOURCES CORP.

"Graham Harris"

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."