Riversdale Mining upgrades Coal Resource “Zambeze Project” to 9.0 billion tonnes May 31, 2010

Riversdale Mining Limited (ASX: RIV) announces an upgrade to the Coal Resource estimate for its 100% owned EPL946L, (the “Zambeze Project”) in the District of Changara, Province of Tete, Mozambique.

• Upgrade of Coal Resource for EPL946L (Zambeze Project – 100% RIV) to 9.0 billion tonnes
• Total Coal Resources include 6,680 million tonnes Inferred Resources and 2,365 million tonnes Indicated Resources
• Products comprise hard coking coal and thermal coal
• Total Coal Resources managed by Riversdale in Mozambique now amount to 13 billion tonnes

The total Coal Resource for the Zambeze Project is now estimated at 9.0 billion tonnes (bt), of which 2,365 million tonnes (mt) is the Indicated Resource. The assessment of the Coal Resource is in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code), 2004.

The Coal Resources are based on drilling results from recently completed exploration boreholes which have a suite of down-hole geophysical logs. The drilling program comprised 150 boreholes totalling 50,000 metres, with coal quality data derived from laboratory analyses of coal cores from 50 boreholes with a minimum of 95% core recovery.

Riversdale Mining is in discussions with a number of steel makers in Asia, Europe & South America regarding coal sampling and the future marketing of potential coal products. These products are expected to comprise quality hard coking coal and a secondary thermal coal product, consisting of high energy thermal coal suitable for both the Indian and African markets.

Riversdale Mining Executive Chairman Mr Michael O’Keeffe said “The Zambeze Project is another Tier One coal project for Riversdale Mining in Mozambique. The upgrade of total Coal Resources to over 9.0 billion tonnes confirms the Moatize Basin’s status as a coal province of global significance. Total Coal Resources under management by Riversdale in Mozambique now amount to 13 billion tonnes.”

Mr O’Keeffe said that the company expected a high level of interest in the Zambeze Project from the world’s major steel producers given the potential scale of the coal project and the prospective quality of its hard coking coal products.

See the announcement for more details, including a table of the Coal Resources at Zambeze.

Click here to view the full announcement.

For further information, please contact:

Michael O’Keeffe
Executive Chairman
Ph: +612 8299 7900

Steve Mallyon
Managing Director
Ph: +612 8299 7900

Niall Lenahan
CFO
Ph: +612 8299 7900

or

Media: Fortbridge
Bill Kemmery
Ph: +612 9331 0655
Mob: +61 400 122 449
bill.kemmery@fortbridge.com