ASX Release Renaissance Uranium to commence trading on ASX 15 December 2010 Renaissance Uranium Limited (“Renaissance”) will today commence trading on ASX under the symbol “RNU”. In connection with its listing on ASX, Renaissance has raised $8.0 million via an IPO fully underwritten by Bizzell Capital Partners, Wilson HTM Corporate Finance and RBS Morgans Corporate. The initial market capitalisation at the offer price of $0.20 per share will be $22.7 million, and Renaissance will have pro‐forma net cash of $9.5 million on listing. Renaissance is focused on the discovery and development of uranium‐producing assets. Its Adelaide‐based management team is led by David Christensen (Managing Director) and Geoff McConachy (Executive Director), who previously worked together at Heathgate Resources, the operator of the Beverley uranium mine (one of three operating uranium mines in Australia) and Quasar Resources, the exploration‐focused affiliate of Heathgate. The team has extensive experience in the discovery, development and operation of uranium resources. Team members’ involvement was instrumental in the discovery of the Four Mile uranium deposit (one of the most significant uranium discoveries in the last 25 years) and the Carrapateena copper‐gold‐uranium prospect, as well as the management of Heathgate’s Beverley uranium operation, for which David served as CEO. Renaissance has an initial portfolio of eight uranium projects located in prospective areas within key uranium provinces in South Australia and the Northern Territory, where the company has developed a detailed knowledge of mineralising systems. Renaissance carefully selected these projects with the benefit of its successful exploration experience to maximise its opportunities for early success. The Pirie Basin project represents an initial priority for the company and will be the focus of early exploration activity. The project is targeting uranium mineralisation immediately to the south of UraniumSA Limited’s Mullaquana project, a recent sandstone‐hosted uranium discovery.. Renaissance is targeting similar sandstone‐hosted uranium, which is the same style as the Beverley uranium mine. The company expects to begin drilling on the Pirie Basin project early in 2011. Funds raised through the IPO will be deployed in direct exploration and drilling activities across the eight project areas. Active exploration programs are planned for each of the target areas and initial results are expected to become available over the next 12 months. Renaissance is fortunate to have an experienced Board that includes Chairman David Macfarlane, who previously served as Managing Director of EDF Trading Limited (one of the world’s largest energy trading groups), as well as Stephen Bizzell and Andrew Martin. Stephen was involved with the IPO of Stanmore Coal, one of the most successful IPO’s of 2009 and continues to serve as a Non‐
Executive Director. He was also a co‐founder and Executive Director of Arrow Energy which listed on ASX in August 2000 with a market capitalisation of $10 million and was recently taken over by Shell and PetroChina for more than $3.5 billion. Additionally, Andrew Martin is also a founding Non‐
Executive Director of Stanmore Coal. The combined Board and management team bring a depth of capability that is unique for junior companies, with comprehensive development and operational experience and a track record of exploration success. Page 2 of 5 For further information contact: David Christensen Managing Director 08 8363 1589 Background information: Renaissance Uranium is an Australian company focused on the discovery and development of long‐
term, economically viable uranium producing assets. It holds interests in eight projects covering approximately 14,600 km2 with tenements located in the key uranium provinces of South Australia and the Northern Territory. Renaissance has raised $8.0 million via an IPO that was fully underwritten by Bizzell Capital Partners, Wilson HTM Corporate Finance and RBS Morgans Corporate. The initial market capitalisation at the offer price of $0.20 per share will be $22.7 million, and Renaissance will have pro‐forma net cash of $9.5 million on listing. The Uranium Market Renaissance Uranium believes the uranium price is likely to benefit from significant worldwide investment in nuclear generation, led by China, India and Russia. There are 58 nuclear reactors currently under construction, an additional 152 planned and a further 337 proposed by 2030 (with 441 reactors currently operable). As a result, annual demand for uranium oxide is estimated to increase by approximately 30%‐60% by 2025. The uranium spot price as at 10 December 2010 was US$60.50, a 16% increase since 31 October 2010 and a 43% increase since 31 January 2010. Furthermore, global demand for uranium has exceeded production from mines each year since 1990. Existing primary supply sources have been depleted by a lack of exploration and development during the nuclear industry stagnation from the 1980s to mid‐2000s, and secondary supply may be disrupted with the expiration in 2013 of an agreement between Russia and the United States to down‐blend Russian stockpiles of highly enriched, weapons‐grade uranium into lower concentration uranium for use in civilian nuclear reactors. Page 3 of 5 The Board David Macfarlane, Chairman • Previously an equity partner at Lovells, a leading international law firm, heading its Energy and Commodities Group •
One of the founders and first MD of EDF Trading Limited (one of the world’s largest energy trading groups), and currently a Non‐Executive Director of the EDF Trading boards in Singapore, Australia and Japan •
Former Executive Director of Man Financial and Louis Dreyfus, and former Non‐Executive Director of the UK Securities and Futures Authority David Christensen, Managing Director • Experienced uranium mining executive, with recent successful experience managing uranium exploration, mining and marketing operations, notably as CEO of Heathgate Resources and Quasar Resources •
Previously President of Nuclear Fuels Corporation, a uranium trading and marketing company Geoff McConachy, Executive Director • Geologist with over 30 years experience in the mining industry assessing uranium and a range of other commodities •
Previously the MD, Exploration of Heathgate Resources, leader of the exploration and development team as MD of Quasar Resources, and a former Director of the Uranium Information Centre •
Co‐honoured with Prospector of the Year award from the Australian Association of Mining and Exploration Companies for role in the discovery of Four Mile Stephen Bizzell, Non‐Executive Director • Over 15 years corporate finance and public company management experience in the resources sector •
Experience in corporate restructuring, debt and equity financing and mergers and acquisitions •
Executive Director of Dart Energy, Chairman of Renison Consolidated Mines, Non‐Executive Director of Bow Energy, Diversa, Stanmore Coal, Hot Rock and Apollo Gas. Previously a co‐
founder and Executive Director of Arrow Energy from 1999 until the recent $3.5 billion takeover by Shell and PetroChina Andrew Martin, Non‐Executive Director • Investment banker with over 15 years experience working in a banking or advisory capacity •
Director of ASX listed Stanmore Coal and unlisted St Lucia Resources International Page 4 of 5 Other Key Personnel Chris Anderson, Geophysicist • Geophysicist, with over 30 years experience in mineral exploration in Australia and abroad •
Recent exploration success includes an instrumental role in 2005 discovery of Carrapateena copper‐gold‐uranium prospect in South Australia John Wright, Geologist • Geologist, with particular expertise in sedimentary and volcanic rocks •
Over 30 years experience in mineral and hydrocarbon exploration •
Previous experience includes working with CRA Exploration, where he was instrumental in the discovery of giant Century zinc deposit in Queensland Duncan Cornish, CFO/Company Secretary • Accomplished corporate administrator and manager, with extensive experience in capital raisings and stock exchange listings •
Expertise in company reporting and regulatory, secretarial and governance areas Page 5 of 5