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RIFT VALLEY RESOURCES LIMITED.

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OVERSUBSCRIBED $5.5m PLACEMENT TO FUND 9,000 METRE DRILL PROGRAMME 

ASX Announcement 2 July 2018

Rift Valley Resources (ASX: RVY) has announced that it has received firm commitments from sophisticated and institutional investors to raise $5,500,000 to fund a 9,000 metre drill programme at its Longonjo NdPr project.

“We are targeting an increase in the size of the resource that will rank Longonjo
as one of the largest NdPr projects in the world, linked by world class
infrastructure to a major Atlantic port.”

Attention turning to Longonjo NdPr Project 
The clean energy revolution has resulted in a dramatic increase in demand for battery metals, notably lithium and cobalt. Attention is now turning to a very much larger market; the rapidly growing application of electric motors to virtually all walks of life.

From electric vehicles to grid scale wind turbines, electric motors will be at the core of our clean energy future.

NdPr motors are expected to become the dominant EV technology for years to come as powertrain motors featuring permanent magnets provide faster acceleration, reduced vehicle weight and additional space for other components.

Following a series of acquisitions over recent years China now controls over 96% of the production of NdPr metals, which are a key component in the manufacture of electric motors.

There is currently only one listed NdPr producer (ASX:LYC) in the world today and it sells most of its product to China.

Rift’s NdPr Longonjo Project is located in the infrastructure rich country of Angola. Following a short exploration programme in 2017 a substantial Mineral Resource estimate was reported.

The project is blessed with infrastructure that sets it apart from most other projects in the world. Located adjacent to a recently constructed US$1.8 billion rail line the project is linked to the major port of Lobito on the Atlantic coast which has recently undergone a US$2 billion refurbishment. Low cost power will come from a connection to the Gove 65 MW hydroelectric dam 38 kilometres away.

Chairman Paul Atherley commented:

“Dave Hammond and his team will commence a 9,000 metre drill programme later next month and we expect to be reporting results soon afterwards.

We are targeting an increase in the size of the resource that will rank Longonjo as one of the largest NdPr projects in the world, linked by world class infrastructure to a major Atlantic port.

We very much look forward to keeping you informed of the results from this exciting programme.”

Click here to view the full announcement

The clean energy revolution has resulted in a dramatic increase in demand for battery metals, notably lithium and cobalt.

Attention is now turning to a very much larger market; the rapidly growing application of electric motors to virtually all walks of life.

From hair dryers to electric vehicles to grid scale wind turbines, electric motors will be at the core of our clean energy future.

Following a series of acquisitions over recent years China now controls over 90% of the production of NdPr metals which are essential for the manufacture of electric motors.

There is currently only one listed NdPr metal producer (ASX:LYC) in the world today and it sells most of its product to China.

With just 14% of the target area drilled to date Rift’s NdPr Project has already reported a substantial Mineral Resource estimate.

The Company is finalizing plans to commence a major drill programme on the Longonjo NdPr Project located close to infrastructure in mineral rich Angola.

Mr. Paul Atherley Chairman
MrAtherley is a Mining Engineer from Imperial College London and has held numerous senior executive and board positions during his career. MrAtherley has developed strong connections within Chinese business, industry bodies and senior government officials, including the most senior levels of the state owned energy companies.

Mr. David Hammond Chief Operating Officer
Geologist with over 25 years international experience including 7 years as Technical Director with Peak Resources Ngualla
Rare Earth Project, Tanzania.

Mr. Mark Hohnen Non Executive Director
Founding Executive Chairman of Kalahari Resources Plc listed on AIM in 2006 for £15million and subject to a £651million takeover in 2012.

Mr Neil MacLachlan Non Executive Director
Internationally experienced Investment Banker, Funds Manager and PublicCompany Director. Director of Kalahari Minerals Plc and also Extract Resources which was also subject to a takeover, for US$2.2billion in 2012.

Mr. Scott Mison Company Secretary / Chief Financial Officer
Chartered Accountant with over 20 years experience in corporate and operations across Australia, UK, Central Asia, Africa
and the US.


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