Riversdale updates on African operations January 30, 2009

Riversdale Mining (ASX: RIV) has released today its Quarterly Report for the period ending December 2008.

Highlights of the quarter include:

Exploration in Mozambique
• An updated JORC compliant coal resource in the Benga tenement supports the development of the Benga Open Cut Coal Project.
• As at the end of the December quarter, the total coal resource at Benga of 2.1 billion tonnes comprises 1,023 Mt of Measured and Indicated Resources and 1,087 Mt of Inferred Resources.
• Drilling at Benga continues to delineate the resource to facilitate mine planning and development
• The aeromagnetic and radiometric survey was completed over all Riversdale tenements in Mozambique and analysis of data has commenced.
• Final structural and basinal interpretation reports were provided to Riversdale during December to assist with the planning of 2009 exploration programs across all the leases.
• Approximately 80,000 metres of open-hole and diamond core drilling is planned for CY2009.
• Combined tenement area exceeds 250,000 hectares and positions the Company as one of the largest tenement holders in the Tete – Moatize coal basin.
• Reconnaissance exploration drilling commenced in September 2008 on EL 946L – Muarazi West with a total of 12,450m open-hole drilling completed during the quarter.
• Initial findings in EL946 are extremely positive, confirming the presence of the same seams encountered in Benga.

Benga Mine Development
• In October 2008 Riversdale lodged an application to the Mozambique Government for a Mining Concession over its Benga tenement.
• Subsequently Riversdale met with the Mozambique Government committee evaluating the above application.
• Environmental data collection was completed in December to form the basis of the environmental impact study.
• Laboratory analyses to finalise coal quality and CHPP operating criteria are now 90% complete and will be finalised in the first quarter 2009.
• The final feasibility study will be completed in the first quarter 2009.

Zululand Anthracite Colliery (ZAC), South Africa
• Excellent safety performance continues.
• ROM production for the December quarter was 167,117 tonnes and 432,528 tonnes for the half year.
• Saleable production for the December quarter of 182,191 tonnes is an increase of 5,543 tonnes for the same quarter last year.
• Product sales for the December quarter were 147,320 tonnes, of which export sales contributed 37%.
• Domestic demand for anthracite is expected to be soft into 2009 and export opportunities are being evaluated.
• Development of the Ngwabe Block commenced during December.

Corporate
• Cash on hand was A$326.1 million at 31 December 2008.
• Gary Lawler appointed as independent non executive director 28 January 2009.

Riversdale Mining plans to have a busy first quarter in 2009. In Mozambique, the Company will continue to work in completing the Feasibility Study, to facilitate a development decision at Benga Project in the first half of 2009. Discussions will progress with the Government of Mozambique on grant of a Mining Concession and access to infrastructure. Exploration activities will be extended to nearby tenements in the Tete region. Meanwhile, in South Africa, development of the Ngwabe Block will be accelerated.

Click here to read the full report.

For further information, please contact:

Michael O’Keeffe
Executive Chairman
Ph: +61 2 8299 7900

or

Bill Kemmery
Fortbridge
Ph: +61 2 9331 0655
Mob: +61 400 122 449
Email: bill.kemmery@fortbridge.com