Rand Mining : Exploration Update Seven Mile Hill

Seven Mile Hill Exploration Update ASX ANNOUNCEMENT

24 May 2017

Australian Securities Exchange Code: RND Board of Directors:

Mr Otakar Demis

Chairman and Joint Company Secretary

Mr Anton Billis

Managing Director

Mr Gordon Sklenka

Non-Executive Director

Mr Roland Berzins

Joint Company Secretary

Suite G1, 49 Melville Parade South Perth WA 6151

T: [phone]

F: [phone]

E:[e-mail]

W: www.randmining.com.au ABN: 41 004 669 658

Rand Mining Ltd (ASX code: RND) is pleased to provide the attached update on its Seven Mile Hill Project.

For further information, please contact:

Roland Berzins

E: [e-mail]

Ph: [phone]

Rand Mining Western Australian Exploration Update

The Company's focus remains the prolific East Kundana JV project, however work continues from time to time on the Seven Mile Hill Project.

Seven Mile Hill Project (Rand's Interest 50%) Recent Exploration

The Company recently completed a rotary air blast (RAB) drilling programme testing the south western portion of the project area. This area had seen only light exploration in the past, including wide spaced (400m by 50m) auger soil sampling and reconnaissance (800m by 100m) vertical RAB drilling. This drilling and sampling had outlined several low order anomalies that had never been followed up.

A total of 439 holes for 11,468.5m were drilled on 800m spaced lines, with holes angled towards grid east at intervals that gave almost full drill coverage. The holes were drilled to blade bit refusal, resulting in most holes ending in relatively fresh bedrock. Logging of the holes revealed a remarkably varied geological sequence. Rocks intersected included eplclastics of the Black Flag Formation, mafic volcanics, granite, carbonaceous shale and the Kurrawang Formation conglomerates and sandstones. Previous interpretation of the detailed magnetic data did not indicate such a wide variety of lithologies.

Several of the holes intersected low order gold mineralisation, and given the wide spaced nature of the drilling these may be of some importance. The table below lists the values above 0.10g/t Au.

The Company holds a 50% interest in the project with Tribune Resources Ltd holding the remainder.

Table 1 Seven Mile Hill Anomalous Results

Hole	From	To	g/t Au
KWR459	44	48	0.10
KWR462	44	48	0.11
KWR542	36	40	0.12
KWR458	32	36	0.20

Geology

The Seven Mile Hill Project is located within the central portion of the Archaean Norseman‐Wiluna Greenstone belt. The rocks of the area are mafic and felsic volcanics along with epiclastics of the Black Flag Group and the clastic sedimentary rocks of the Kurrawang Formation. Weathering of the rocks is commonly 40‐50m deep. An exception to this is in porphyry, where the depth of weathering is quite shallow, and commonly 10m.

Photo showing typical grid line from the recent drilling. Table 2 Seven Mile Hill Drill Collar Table

Hole ID	MGA E	MGA N	RL	Depth	Dip	Mag Az
KWR324	341024	6585420	379	45	‐60	70
KWR325	341045	6585421	379	46	‐60	70
KWR326	341059	6585440	379	47	‐60	70
KWR327	341084	6585448	379	41	‐60	69
KWR328	341098	6585456	379	18.5	‐60	70
KWR329	341110	6585462	379	16	‐60	70
KWR330	341118	6585462	379	43	‐60	70
KWR331	341140	6585470	380	33	‐60	70
KWR332	341155	6585477	380	23	‐60	70
KWR333	341173	6585484	380	31	‐60	70
KWR334	341192	6585489	380	33	‐60	70
KWR335	341203	6585502	380	36	‐60	70
KWR336	341223	6585504	381	30	‐60	70
KWR337	341236	6585506	381	37	‐60	70
KWR338	341259	6585512	381	39	‐60	70

KWR339	341280	6585518	381	51	‐60	70
KWR340	341306	6585523	381	49	‐60	69
KWR341	341328	6585539	381	49	‐60	70
KWR342	341351	6585545	381	45	‐60	69
KWR343	341375	6585554	381	70	‐60	70
KWR344	341410	6585568	382	64	‐60	70
KWR345	341441	6585578	382	52	‐60	70
KWR346	341468	6585586	381	51	‐60	70
KWR347	341490	6585601	381	45	‐60	70
KWR348	341511	6585607	381	42	‐60	70
KWR349	341533	6585614	381	45	‐60	70
KWR350	341555	6585621	382	43	‐60	70
KWR351	341581	6585631	383	26	‐60	70
KWR352	341592	6585635	383	21	‐60	70
KWR353	341601	6585637	384	21	‐60	70
KWR354	341613	6585642	384	18	‐60	70
KWR355	341619	6585644	384	14	‐60	70
KWR356	341628	6585647	385	13	‐60	70
KWR357	341636	6585651	385	18	‐60	70
KWR358	341645	6585655	385	18	‐60	70
KWR359	341654	6585658	385	14	‐60	70
KWR360	341663	6585662	386	7	‐60	70
KWR361	341670	6585663	386	8	‐60	70
KWR362	341675	6585665	386	5	‐60	70
KWR363	341679	6585666	386	3	‐60	70
KWR364	341680	6585667	386	4	‐60	70
KWR365	341683	6585668	386	6	‐60	70
KWR366	341689	6585671	386	9	‐60	70
KWR367	341695	6585673	386	4	‐60	70
KWR368	341697	6585674	386	4	‐60	70
KWR369	341702	6585674	386	5	‐60	70
KWR370	341705	6585676	386	5	‐60	70
KWR371	341710	6585675	386	8	‐60	70
KWR372	341719	6585679	387	15	‐60	70
KWR373	341728	6585682	387	7	‐60	70
KWR374	341734	6585684	387	9	‐60	70
KWR375	341741	6585687	387	11	‐60	70
KWR376	341749	6585693	387	15	‐60	70
KWR377	341757	6585695	387	19	‐60	70
KWR378	341766	6585701	387	32	‐60	70
KWR379	341792	6585714	388	24	‐60	70
KWR380	341801	6585716	388	19	‐60	70
KWR381	341815	6585718	388	25	‐60	70
KWR382	341826	6585722	388	24	‐60	70
KWR383	341844	6585724	388	22	‐60	70
KWR384	341853	6585728	389	21	‐60	70