www.riftvalleyresources.com.au*ASX:RVY*ABN86121985395

6December2017

LongonjoMagnetMetalProjectScopingStudyUpdate

Rift Valley Resources Limited (“Company” or “Rift Valley”) is pleased to announce that it has receivedpreliminaryresultsaspartofitsongoingscopingstudy(“Study”)ontheCompany’s70%ownedLongonjoMagnetMetalProjectinAngola(“Project”).

TheStudyisbeingundertakenbyleadingglobalminingandprocessingconsultantAmecFosterWheeler.ThepreliminaryresultsareencouragingbasedontheweatheredzoneportionofthemineralresourceestimateattheProjectandsupportfurtherdrillinganevaluationworkatassessthepotentialoftheProjecttobecomealongtermsupplierofthemagnetmetalsneodymiumandpraseodymium.

Highlights

• TheinitialresultsoftheStudyareencouragingandjustifyfurtherdevelopmentworkandstudies.

• TheCompanywillfast-trackinfilldrillingtoupgradetheexistinginferredmineralresourceestimate,withonlyaportionoftheprospectivecarbonatiteandhightenorrareearthsoilanomalytestedtodate,tofacilitatethecompletionoftheStudy.

• Initialresultsindicatethatweatheredzonemineralresourcesmaybeminedbyconventionalshallowopenpitwith“freedig”materialandaverylowwastetoresourcestripratio.

• TheProjectisproximatetoestablishedmajorinfrastructure,beinglocatedlessthanfivekilometresfromasealedNationalhighwayandraillinetotheportatBenguelaand38kmfromahydroelectricitypowertransmissionline.

• Rareearthsoccurasthemostcommonlyprocessedminerals,mainlymonaziteandbastnasite.

• Earlymetallurgicaltestworkisencouragingwithfurtherworktobeundertaken.

• Aconceptualprocess flowsheethasbeendeveloped toproduce finalhighpurity, separated rareearthproducts.

• Potentialproductsarealignedtothemagnetmetalmarket.

• Demand for the magnet metals is widely predicted to surge driven by their application in theelectrificationofvehiclesandwindturbineenergygeneration.

RiftValley’s ExecutiveChairmanMr StephenDobson said “Wearehighly encouragedby thepreliminarypositive results of this Study. We used Tier One consultants and the Company will press forward withconfidencetoadvancetheProject,withtheaimofpositioningLongonjoasaleadingsupplierofthemagnetmetalsintimeforthepredictedsurgeindemandfromtheimpendingchangetoelectricvehicletechnology.”

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ExecutiveSummary

On6June2017,theCompanyannouncedtheappointmentofAmecFosterWheelertocompleteascopingstudyontheProjecttoencompassallaspectsfromminingtotailsdisposalandproductshipment.

TheCompanyhasreceived initial results fromtheongoingStudywhichareencouragingand indicatethepotentialtheProjecttoproducehighpurityrareearthproductswithastrongemphasisonthemagnetmetalsneodymiumandpraseodymium.

ThepreliminaryresultsoftheStudycontemplateashallow,openpitminingoperationattheProjectbasedon the weathered zone portion of the inferred mineral resource and an onsite processing plant andassociatedinfrastructure.

The preliminary results of the Study justify the further evaluation of the Project,whichwill include thecompletionofadditionalresourcedrilling,metallurgicaltestworkandmoredetailedcostandengineeringstudies.

Theexistingmineralresourceisopeninalldirectionsandthereisexcellentpotentialtoexpandthecurrentresourcebase.TheCompanyislookingforwardtoprovidingfurtherupdatesontheStudyasworkprogresses.

In accordance with ASX Interim Guidance: Reporting Scoping Studies, the ASX Listing Rules and ASICInformationSheet214,theCompanyunderstandsthatmineralresourceclassificationisadeterminingfactorinprojectviabilityandthattheCompanywillneedtoupgradeitsmineralresourceestimatebeforereportingaproductiontargetorforecastfinancialinformationbasedonaproductiontarget.Giventheuncertaintiesinvolved,investorsshouldnotmakeanyinvestmentdecisionsbasedsolelyonthisStudyupdate.

TheStudy isbeingundertakenbyAmecFosterWheeleras LeadEngineer, a globalexpert inminingandmineralsprocessing.Specialistexpertiseisalsoprovidedbyarangeofindependentconsultants,includingthefollowingwhoarecontributingtothekeycomponentsoftheStudy:

Table1:StudyConsultants

Consultant ScopeofWorkAmecFosterWheeler LeadEngineerAmecFosterWheeler MineralResourceestimateNagromLaboratory,Perth GeochemicalassayALSMetallurgy MineralogicalstudiesIMO MetallurgicaltestworkMet-ChemConsultingPtyLtd MetallurgicalprocessdevelopmentAmecFosterWheeler ProcessengineeringandinfrastructureAmecFosterWheeler MinePlanning

Background

Angola isunderexploredbymodernmethodsasaresultof thecivilwar from1975to2002but isnowapeacefulandstablecountryrapidlydevelopingitsinfrastructureandactivelyencouragingadiversificationfromeconomic relianceonoil anddiamonds.Thecountryhasa soundminingand investmentcodeandbecameapartytotheNewYorkforeignarbitrationConventioninMarch2017.

The Company has established a firstmover advantage in Angola by securing a 70% interest the ProjectcomprisingexplorationlicenceNo013/03/09/T.P/ANG-MGM/2015,whichextendsoveranareaof3,670km2.

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The remaining interest is held by the Company’s partners Ferrangol EP (10%), an Angolan state-ownedenterprise,andAngolannationals(20%).Thelicencewasgrantedfor7yearsinFebruary2015.

TheProjectcontainscopper,goldandniobiummineralisationinadditiontorareearthsandtheCompanyisevaluating the potential of all these commodities in this highly prospective licence area. Rare earthmineralisation,thesubjectoftheStudy,ishostedintheweatheredzoneoftheLongonjoCarbonatite.

TheProjecthasanenviablepositioncomparedtomanyresourcedevelopmentprojects,beinglocatedclosetoestablishedinfrastructure.TheProjectliesjust3kmfromthetarhighwayandraillinethatrunfromtheportatBenguela200kmtothewest,totheprovincialcapitalofHuambo60kmtotheeast(Figure1).ApowertransmissionlinefromtheGoveDamhydroelectricpowerplantcurrentlyextendstoCaala,38kmtotheeastof the Project. The extension of the power line to Benguela through to Longonjo is underway and oncompletionthelinewillbefivekilometresfromtheProject.

Figure1:LocationmapofLongonjoMagnetMetalProjectinAngolaandestablishedmajorinfrastructure.

InSeptember2017,theCompanyreportedamaideninferredmineralresourceestimatefortheProjectthatincludedtheweatheredrareearthmineralisationthatisthefocusofthisStudy.Thismineralisationissoftoxidematerialthatoccursfromsurfaceoverawidearea,enablingsimplelowcostopenpitminingwithalowwastetofeedratio.Themineralogyoftherareearthmineralisationisthemostcommonlyprocessedworld-wideandtherelativelyhighgradesarealsoadistinguishingfeatureoftheProject.

Geology,MineralogyandExplorationPotential

The Project is hosted within the Longonjo Carbonatite, a sub vertical, pipe-like sub volcanic bodyapproximatelytwokilometres indiameter.Amoreresistivealterationzoneformingahorseshoeshapedringofhillssurroundsthecarbonatitebrecciaofthecentralcore.

Rareearthmineralisationishostedbythecoreofcarbonaterocksandisfurtherenrichedthroughresidualweatheringprocessesinthenearsurface,ironrichsaprolitetoformablanketofhighergrademineralisationatsurfacewithanaveragethicknessofapproximately20metres.

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Drillingtodatehastestedonlyasmallportionoftheprospectivecarbonatiteandtheassociatedhightenorrareearthinsoilanomaly(Figure2).

Figure2:SimplifiedgeologicalmapoftheLongonjoCarbonatiteovertopographiccontoursshowingextentofdrillingtodateand1.5%REOinsoilsanomaly

Qemscanquantitativemineralogicalstudiesonthebulkmetallurgicalsamplecompositedfromtheupper20mofeachoftendiamondholesshowthatrareearthsintheweatheredzonearehostedbytherareearthmineralsmonazite(80%)andbastnaesite(20%)(Figure3).

Legend:Blue:MonaziteRed:Bastnaesite

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Figure3:Electronmicroscopephotograph(left)andQemscanmineralcompositionimage(right)of100microngrainofmonaziteandbastnaesitefromtheLongonjoweatheredzone.

Theweatheredmineralisation onwhich the Study is based comprises iron andmanganese oxides, clay,barite,biotiteandfeldsparinadditiontotherareearthmineralsnoted.Althoughrareearthdepositseachhave a different mineralogical composition, requiring specific research and development to identify aneffectiveprocessingflowsheet,thecombinationofrareearthandhostrockmineralsisencouraginginthesimilaritieswithotherdepositswhereaneffectiveprocessingroutehasbeensuccessfullydeveloped.

Thedistributionofindividualrareearthoxides("REO")asaportionofthetotalREOwithintheweatheredmineralisationusedfortheStudyasdeterminedbyanalysisofthebulkcompositeofthetop20mofeachofthetendiamonddrillholesis:

Table2:Distributionandrelativeproportionsofindividualrareearthsinthebulkcompositeandfourplannedproducts

RareEarthOxides REOGrade(%) %ofTotalREO%ofTotalREOinProductSplit

Lanthanum La2O3 1.061 26.8 26.8Cerium CeO2 1.937 48.9 48.9

Praseodymium Pr6O11 0.192 4.8519.6

Neodymium Nd2O3 0.584 14.7Samarium Sm2O3 0.067 1.69

4.8

Europium Eu2O3 0.015 0.38Gadolinium Gd2O3 0.031 0.79Terbium Tb4O7 0.003 0.08

Dysprosium Dy2O3 0.013 0.32Holmium Ho2O3 0.002 0.05Erbium Er2O3 0.004 0.10Thulium Tm2O3 0.000 0.01Ytterbium Yb2O3 0.002 0.005Lutetium Lu2O3 0.000 0.01Yttrium Y2O3 0.051 1.29

TotalREO* REO 3.964 3.96 100

Mineralisationdefinedbydrillingcurrentlyremainsopeninalldirections.Withonlya650mx350mareadrilltestedtodateofthetotal2.3kmx1.3kmprospectivecarbonatitecoreandcoincidentsoilanomaly,thereremainsexcellentpotentialtoincreasethesizeoftheknowdepositbyfurtherdrilling(Figure4).

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Figure 4: 3D aerial view looking west of the Longonjo Carbonatite showing the extent of prospectivecarbonatite and area of drilling. Note the ring of hills of resistive fenite alteration that surround thecarbonatitecore,andtherelativelysmallareaofthehightenorsoilanomalyandprospectivecarbonatitedrilltestedtodate.

MineralResourceEstimate

Themaidenmineralresourceestimate("MRE")fortheProject(100%inferred)wascompletedbyconsultantsAmecFosterWheelerandisdetailedintheCompany’sASXAnnouncement“MaidenJORCMineralResourceestimate – LongonjoMagnetMetals Project” of 26 September 2017. TheMineral Resource estimate isclassifiedasInferred,waspreparedbyHeatherKingofAMECFosterWheeler,acompetentpersonasdefinedbytheJORCCode2012andisreportedinaccordancewiththeJORCCodeandGuidelines2012.

Onlythenearsurfaceweathered(oxide)portionofthetotalMREhasbeenevaluatedsofarforthepurposesoftheStudy.

TheMRE(weatheredzoneonly)ata1%REOlowercut-offgradeis:

11.6Mt4.30%rareearthoxide(REO*)for499tonnesofcontainedREOREO,ortotalrareearthoxide,isthesumofLa2O3,CeO2,Pr6O11,Nd2O3,Sm2O3,Eu2O3,Gd2O3,Tb4O7,Dy2O3,Ho2O3,Er2O3,Tm2O3,Yb2O3,Lu2O3andYb2O3.

Table3detailsthelight,heavyandtotalrareearthoxidedistributionatarangeofcut-offgradesfortheweatheredzoneMRE.

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Table3:MineralResourceTabulationfortheLongonjoProjectatarangeofgradecut-offs

InferredMineralResource:WeatheredZone

TREO%Cut-off

MillionTonnes

Densityt/m3

TREO% LREO% HREO% TREOTonnes

LREOTonnes

HREOTonnes

Grade Content0.0 11.6 2.43 4.30 4.18 0.13 499 485 150.5 11.6 2.43 4.30 4.18 0.13 499 485 151.0 11.6 2.43 4.30 4.18 0.13 499 485 151.5 11.6 2.43 4.30 4.18 0.13 499 485 152.0 11.4 2.43 4.35 4.22 0.13 496 481 152.5 10.9 2.43 4.44 4.31 0.13 484 470 143.0 10.2 2.43 4.56 4.43 0.13 465 452 13.33.5 9.3 2.43 4.68 4.55 0.13 435 423 12.14.0 7.6 2.43 4.89 4.76 0.13 372 362 9.9

SeeASXAnnouncementdated26September2017forfurtherdetails

TheweatheredzoneMREblockmodelextendsoveranareaofapproximately650mx350mwiththehighREOgradesoccurringfromsurface(Figure4).

Figure5:PlanandobliquesectionthroughtheMREblockmodelshowingthethickblanketofhighgraderareearthmineralisationatsurface

TheMREfortheweatheredzoneisasubsetofandcontainedwithintheMRE,whichata1%REOlowercutofgradeis:

44.7Mt2.50%rareearthoxide(REO*)for1,120tonnesofcontainedREO.(SeeASXAnnouncementof26Septemberforfurtherdetails.)

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ThetotalMREiscomprisedoftheweatheredandthefreshmineralisation.ThefreshmineralisationhasnotcurrentlybeenevaluatedforthepurposesoftheStudyduetoitslowergradeandasinsufficientmetallurgicaltestworkhasbeencompletedtodate.

TheMREisbasedongeologicalandgrademodelconstructedfrom32drillholesatanaverage100mx100mspacing,whichdemonstratethecontinuityofthemineralisation.Themodelincorporatesassaydatafrom10diamond drill holes completed in 2017 (ASX announcement “Positive Diamond Drilling Assay Results atLongonjo” of 24 August 2017) and the geological information from a further 22 RAB holes (ASXannouncementHighgraderareearthresultsatLongonjoProspect”of31March2014).

AsonlyaportionoftheprospectiveareaoftheLongonjoCarbonatiteandrareearthsinsoilanomalyhasbeentestedtodate,thereissignificantpotentialtoexpandthecurrentMREthroughadditionaldrilling,andalsopotentiallytoidentifyadditionalhighgradezones.

MININGOPERATION

Pit optimisations based on the weathered MRE were completed by Amec Foster Wheeler. The miningoperationisenvisagedtoconsistofgradecontrol,loadandhaultoarunofmine("ROM")pad.The friable, flat lying mineralisation occurring from surface makes the weathered zone at the Projectamenable to free-dig, open pit mining using conventional load and haul methods. No drill and blast iscontemplatedatthisstageandwastetomillfeedresourceratiosareverylow.Operationswouldutliliseaminingfleetconsistingof65trigidbodydumptrucks(Caterpillar775Gorsimilar)beingloadedbya140texcavator(Caterpillar6015orsimilar).A50tfrontendloader(FEL)(Caterpillar988Kor similar)which is capableof loading the65 tdump truckswill beavailableasback-up for theprimaryloadingunitandalsotomakeupshortfallsinperiodswhereadditionalmaterialmovementisrequired.Both resource andwastewill be excavated in 2.5m flitches (5m benches) followingmark-out by gradecontrol.Millfeedmineralisationwillbehauledtoeither:

• TheROMpadandtippedontoadesignatedfinger,or

• Adesignatedlow-gradestockpile.GradecontrolactivitiescouldbecompletedusinganAtlasCopcoD65withanRCunitandsplitterinstalled.Agradecontrolpatternofa10mx10mtoadepthof10m,withsamplestakenat2.5mintervalsisproposed.WASTEMANAGEMENT

Anareaforatemporarywastestorageareaislocatedtothesouth-eastofthecurrentpitshell(Figure6)butmayberelocatedshouldadditionaldrillingprovethesouthwardcontinuationofthecurrentMRE.Theminewastewillbehauleddirectlyfromthepitandplacedontothewastedumptemporarily,untilitcanbeusedforexpandingthetailingsstoragefacility.Thewastedumplocationwillbereviewedoncethetailingsstoragefacilityandprocessingplantarefirmlylocatedinfutureprojectphases. F

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Figure6:ConceptualLocationoftemporarywastestoragefacilityrelativetopitshell

METALLURGICALPROCESSDEVELOPMENT

PREVIOUSTESTWORK

MetallurgicaltestworkonLongonjorareearthmineralisationwasfirstundertakeninMarch2016onatrenchsamplecompositecollectedfrom6to8metresbelowthesurface.Thetestworkincluded:• Samplecharacterisationandmineralogy;• Flotationtestwork;and• Acidbakingandleachtestwork.Thisinitialtestworkprogramidentifiedthatthemainrareearthhostmineralwasmonazitewhichupgradedwell(concentrategradesofupto20%REOwereachieved)viaflotationtechniques.Concentrate samples were subsequently tested through an acid baking and leaching process which istypically used on monazitic rare earth concentrates. REO extractions of 84% were achieved withoutoptimisationoftheprocess.RECENTTESTWORK

Fromthe2017diamonddrillingprogram,threecompositesamplesweregenerated:

• amastercompositeofallmaterial;• 0mto20mdepthcompositecontainingmainlythehighgradeweatheredmaterial;and• 20mto~100mdepthcompositecontainingmainlyfreshmaterial.

Preliminary laboratory flotation tests indicated that the 0 to 20m composite sample (i.e. thehigh gradeweatheredmaterial)respondedbesttoflotationwithregardstoconcentrategradesandrecoveries.Giventhatthiswasalsothehighergradeofthetwotypesofmineralisationcombinedwiththefactthatit isatsurfaceandeasilymined(i.e.unlikelytorequiredrillandblasttechniques),thismaterialisthefocusoftheStudy.

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Initial sighter flotation tests have shown that thebarite content in the composite sample is diluting theconcentrate.Testworkisnowproceedingonabariteflotationstagepriortotherareearthflotation,witharegrindstageinbetween.Alternatereagentsareunderevaluationforthisscheme.

PROCESSDESIGN

TheprocessflowsheetfortheStudywasdevelopedfromongoingflotationtestwork,previousacidbakingtestworkandpracticesinsimilaroperations.TheprocessflowsheetissummarisedbelowandisshowngraphicallyinFigure7.

• Theplantfeedwillbedeliveredbyfrontendloadertoabinfeedingatoothedrollscrusher.

• TherollscrusheddischargefeedsaSAGmilloperatinginopencircuit.

• TheSAGmilldischargefeedsabankofhydrocyclonesoperatinginclosedcircuitinconjunctionwithaballmill.

• ThehydrocycloneoverflowfeedstheBaritePre-Flotationcircuitthatselectivelyfloatandremovethebariteganguemineralswhicharesenttothetailingsmanagementfacility("TMF").

• Thebaritedepletedstreamisregroundpriortofeedingtherareearthflotationcircuit.ThewastefromthiscircuitissenttotheTMF.

• Therareearth(mineral)concentrateisfilteredandstoredtoprovideabufferbetweenthebeneficiationandacidbakingcircuits.

• The mineral concentrate is recovered from storage at the required rate and combined withconcentratedsulphuricacidinapugmixertoformapaste.

• Theconcentrate/acidpasteisfedtothesulphationkilnwhichoperatesatapproximately250°Cwhich“cracks”therareearthhostmineralsconvertingtherareearthstoasolubleform.

• Waterleachwheretherareearthsaredissolved,andthewasteundissolvedsolidsarefilteredoffanddisposedof.

• Purification,wherebythedissolvedimpuritiesareremovedbyprecipitationandionexchange("IX").

• Separationandrecoveryoffinalproductsusingsolventextraction("SX").Fourdistincthighpurityproductsareassumed,selectedtoaligntospecificmarketenduses,asfinaloutputsfromtheseparationplant:

• AhighpurityNdProxidesuitableforthepermanentmagnetmarket

• Aceriumcarbonatesuitableforglasspolishingandsteelalloymarkets

• Alanthanumcarbonate tailoredtothefluidcrackingcatalystmarket

• Amixedmidandheavy(SmtoLuandY)rareearthcarbonatethatwillbetoll treatedataspecialtyseparationplantF

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Figure7:SimplifiedProcessFlowsheetfortheProject'shighgradeweatheredrareearthmineralisation

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INFRASTRUCTURE

TheLongonjoProjectsite,located200kmfromthecoastiswellservicedbyproximalrail,air,hydroelectricpowerandroadinfrastructure(Figure8).

Figure8:Preliminarysitelayoutandlinkagestoexistingregionalutilitiesandtransportinfrastructure

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Itisproposedthatmostconsumables,reagentsandsupplieswillbetransportedtositefromoverseasviatheAtlanticseaportofLobitonearBenguela(Figure1).TheProjectsiteis locatedapproximatelyfourtofivehours’drivebysealedhighwayfromtheportcityofBenguelaoronehour’sdrive from the regional centreofHuambo located60km to theeast. The sealedhighwayliesjust3.5kilometrestothenorthoftheProject(Figure9).TheBenguelarailwaylocated3.5kmnorthoftheProjecthasrecentlybeenupgraded.TherailwayconnectstotheportofLobitoandpassesthroughHuamboandLongonjo(seeFigure10).

Figure9:LongonjoCarbonatitepicturedasviewedfromtheNationalHighwaytoLobitoPort

LongonjoCarbonatite

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Figure10:RaillinetoBenguelaPortandthehilloftheLongonjoCarbonatiteinbackground4kmtothesouth.MAGNETMETALSDEMAND

Demand for theMagnetMetalsneodymiumandpraseodymium ispredicted tosurgeasa resultof theirincreasingandessentialapplicationinhighpoweredpermanentmagnetsthatareimportantcomponentsofthemotorsforhybridandelectricvehicles("EVs")aswellastheturbinesforgreenenergywindfarms.TheimpendingdemandincreasefromtheseapplicationshascontributedtotherecentreboundinNdPrpricesinadditiontotheChinasupplyrestrictions.

Legislative changes being implemented in China to control the rare earth industry, together with theexpectedsurgeindemandfromEVsandwindturbineshasledanalyststoforecastashortfallinNdPrsupplyandthatChinawillbecomeanetimporterofNdPrwithinthenextfivetosevenyears.

LongonjoCarbonatite

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NextStepsandOpportunities

ThepreliminaryresultsoftheongoingStudysupportsthepotentialviabilityoftheProjectandtheCompany’sstrategytoproceedfurtheralongthepathwaytodevelopment.Nextstagestudyparametersareanticipatedtoinclude:

• Additionaldrillingprogramstargetinghighgradeextensionstothecurrentlydefinedweatheredzonerareearthmineralisation,whichisopeninalldirections.Infilldrillingwillalsobecompletedtoassist,togetherwiththemetallurgicaltestwork,toupgradetheresourceclassification.

• Metallurgical testwork to confirm the identified processing route on weathered rare earthmineralisation from Longonjo. This program has already commenced andwill define the designcriteriaandequipmentselectionfortheprocessingplants.

• Tighten reagent supply and prices via engagement with reagent suppliers with the intent toaccuratelyquantifyandreducethepriceofthesemajoroperatingcostitems.

• Commencement of environmental and social baseline surveys to progress the approvals processrequiredfortheProject.

• Engagementwithlogisticspartnersandproviderstosecureoptimaltransportsolutionsforreagentandproductfreight.

• MarketingstudiesandengagementwithpotentialofftakecustomersforLongonjo’sproducts.

• Commencement of discussionswith potential strategic partners and finance providers to securefundingforthedevelopmentoftheLongonjoProject.TheCompanybelievesthat it is inastrongpositiontoengageindiscussionsaboutthefuturefinancingoftheProjectandtheeconomicandtechnical validation to commence additional field and metallurgical test work programs. TheCompanywillcontinuetokeepthemarketinformedofprogressandresultsastheycometohand.

Forfurtherinformation,pleasecontact:StephenDobsonExecutiveChairman0414166560

CompetentPersonsStatements

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TheinformationinthisreleasethatrelatestotheMREfortheProjectwasfirstreportedbytheCompanyon26September2017,andtheCompanyconfirmsthatitisnotawareofanynewinformationthatmateriallyaffectstheinformationincludedintheoriginalannouncement.TheMREisbasedonworkconductedbyMrsHeatherKingwhoisamemberoftheSouthAfricanCouncilforNaturalScientificProfessions,aRecognisedProfessionalOrganisationincludedinthelistpostedbytheASXfromtimetotime,andMrsKingisaProfessionalNaturalScientist(Pr.Sci.Nat.).MrsKingisafulltimeemployeeofAmecFosterWheeler.MrsHeatherKinghassufficientexperiencethatisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtotheactivitybeingundertakentoqualifyasaCompetentPersonasdefinedinthe2012EditionoftheAustralasianCodeforReportingofExplorationResults, Mineral Resources and Ore Reserves’. Mrs King consents to the inclusion in the report of the matters based on herinformationintheformandcontextinwhichitappears.

Theinformationinthisreportthatrelatestometallurgicaltestworkresultsisbasedoninformationcompiledand/orreviewedbyMrGavinBeerwhoisaMemberofTheAustralasianInstituteofMiningandMetallurgyandaCharteredProfessional.GavinBeeristheprincipalofMet-ChemConsultingPtyLimited,RiftValley’sleadmetallurgicalspecialistandhassufficientexperiencerelevanttotheactivitywhichheisundertakingtoberecognizedascompetenttocompileandreportsuchinformation.GavinBeerconsentstotheinclusioninthereportofthemattersbasedonhisinformationintheformandcontextinwhichitappears.

TheinformationinthisreportthatrelatestoGeologyandExplorationResultsisbasedoninformationcompiledand/orreviewedbyDavidHammond,whoisaMemberofTheAustralianInstituteofMiningandMetallurgy.DavidHammondistheChiefOperatingOfficerandaDirectoroftheCompany.HehassufficientexperiencewhichisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtheactivitywhichheisundertakingtoqualifyasaCompetentPersonintermsofthe2012EditionoftheAustralianCodefortheReportingofExplorationResults,MineralResourcesandOreReserves.DavidHammondconsentstotheinclusioninthereportofthemattersbasedonhisinformationintheformandcontestinwhichitappears.

ForwardlookingStatement

Thisreleasemayincludeforward-lookingstatements,whichmaybeidentifiedbywordssuchas“expects”,anticipates,“believes”,“projects”“plans”andsimilarexpressions.These forward lookingstatementsarebasedonRiftValley’sexpectationsandbeliefsconcerningfutureevents.Forwardlookingstatementsarenecessarilysubjecttorisks,uncertaintiesandotherfactors,manyofwhichareoutsidethecontrolofRiftValley,whichcouldcauseactualresultstodiffermateriallyfromsuchstatements.Therecanbenoassurancethatforward-lookingstatementswillprovetobecorrect.RiftValleymakesnoundertakingtosubsequentlyupdateorrevisetheforward-lookingstatementsmadeinthisreleasetoreflectthecircumstancesoreventsafterthedateoftherelease.

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