Change of Adviser

Sierra Rutile Ltd

Change of Nominated Adviser and Joint Broker

London, UK, 7 June 2012: Sierra Rutile Limited ("SRL") is pleased to announce the appointment of RBC Europe Limited, trading as RBC Capital Markets, as its Nominated Adviser and Joint Corporate Broker with immediate effect, alongside existing Joint Corporate Broker Mirabaud Securities LLP.

For Further Information:

Sierra Rutile Limited

John Sisay, Chief Executive Officer

Joe Connolly, Chief Financial Officer

Telephone: +44 (0)20 7074 1800

RBC Capital Markets

Nominated Adviser and Joint Corporate Broker

Martin Eales / Jonathan Hardy

Telephone: +44 (0)20 7653 4000

Mirabaud Securities

Joint Corporate Broker

Peter Krens

Telephone: +44 (0)20 7321 2508

Kreab Gavin Anderson

Fergus Wylie

Telephone: +44 (0)20 7074 1800

About Sierra Rutile Limited:

Sierra Rutile produces titanium feedstock industrial minerals (primarily rutile, with some associated ilmenite), as well as smaller quantities of zircon. Sierra Rutile's mine, located in the south west of Sierra Leone, is one of the largest natural rutile deposits in the world, with a JORC-Compliant Mineral Resource for measured, indicated and inferred resources for the Sierra Rutile mine of over 600 million tonnes (as at February 2011).

www.sierra-rutile.com