Issue of shares for Capricorn Sapphire Project

23 September 2014

Richland Resources Ltd

("Richland" or "the Company") (AIM: RLD)

Issue of 18 million shares re Capricorn Sapphire Project

Further to its announcement on 4th June 2014 Richland Resources Ltd today announces that it has issued 18 million fully paid new common shares (the "18 Million Shares") in the Company pursuant to the acquisition of 100 per cent of the Nardoo Sapphire project in Queensland Australia subsequently re-branded as Capricorn Sapphire ("Capricorn Sapphire").

The Capricorn Sapphire project was acquired by Richland for consideration of AUD$1.18 million (approximately. GBP 653,000 as at 4th June 2014) and 18 million fully paid new common shares in Richland (approximately 8.3% of Richland's enlarged share capital). The 18 Million Shares were the subject of a three month escrow period and are now being issued at the expiry of the escrow period to the vendors with each holding being below 3% of the enlarged share capital of the Company. Application will made to the London Stock Exchange for the 18 Million Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 26 September 2014.

Following the issue of the 18 Million Shares, the Company's issued share capital will consist of 217,209,895 Common Shares.

Following the issue of the 18 Million Shares, the Directors of the Company hold the following reduced percentage interests in the issued share capital of the Company:

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