The Liontown Project comprises polymetallic volcanic hosted massive sulphide (VHMS) deposits (New Queen Lens, Main Lens and Liontown East) and the Carrington Lode, a gold-rich copper mineralised vein system (intrusion-related gold-copper vein system - IRGS).

Liontown has a total Mineral Resource of 3.6Mt at 10.0% Zinc Equivalent.

Red River commenced drilling at Liontown in June 2019 and has completed 34 drill holes (5,278m drilled) to date, with assay results received for 23 holes. Red River is awaiting assays for the remaining 11 holes, which are expected before the end of January.

New Queen Lens Drilling Results

The New Queens Lens is a large body (approximately 600m by 250m by 5m) of polymetallic (Cu-Pb-Zn) VHMS mineralisation with significant precious metal (gold and silver) credits. Drilling to date has returned wide intercepts of high-grade polymetallic fresh sulphide mineralisation with material precious metals, particularly gold, from within 30m of the surface.

New Queen Lens Development

Red River is working to update a JORC 2012 Mineral Resource estimate for the New Queen Lens and has commenced preliminary mining studies. The Mineral Resource estimate will be completed when the assays for the outstanding 11 holes are received (expected by end January), and completion of Mineral Resource estimate will allow the outcome of the preliminary mining studies to be finalised.

The ongoing exploration success at Liontown has increased potential to develop the deposit, with Red River seeking to accelerate production at Liontown ahead of developing the zinc-rich Waterloo deposit. Most known New Queen Lens mineralisation falls within an existing Mining Lease (ML10277) held by Red River's wholly owned subsidiary, Cromarty Resources Pty Ltd.

About Red River Resources (ASX: RVR)

RVR is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development. RVR's foundation asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017. RVR has recently acquired the high-grade Hillgrove Gold-Antimony Project in New South Wales, which will enable RVR to build a multi-asset operating business focused on base and precious metals.

Contact:

Mel Palancian

Tel: +61 3 9017 5380

Email: mpalancian@redriverresources.com.au

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