RLD.L Regulatory News (RLD)



Richland Resources Limited

("Richland" or "the Company") (AIM: RLD)

New Mining Licence Granted, Tanzania

and

Operational Update

Richland Resources Ltd, the gemstones producer and developer, today announces that TanzaniteOne Mining Limited ("TML"), the wholly owned subsidiary of Richland, has now received a new Mining License from the Tanzania Ministry of Energy and Minerals for its tanzanite mining operations.

As anticipated in our announcement on 7 May 2013, the new Mining licence is held jointly on a 50:50 basis between TML and the State Mining Corporation of Tanzania ("STAMICO"), the mining arm of the Tanzanian Government.  Following granting of the new mining license, the Government of Tanzania has re-confirmed it will now be working with Richland to ensure security for workers at existing operations and reclaim mining areas lost to artisanal workers in the area.

As previously reported, uncontrolled illegal mining activities have been severely affecting the Company's operational and financial performance for over a year. These activities have had a negative impact on the Company's 2012 financial results, due to be released before the end of June, which will reflect a significant loss for the year to 31 December 2013. The impact of these illegal activities over such a sustained period has also had an adverse impact on the Company's current financial position and the directors are currently considering various financing options to address this and the working capital requirements.

Working with STAMICO and the Government of Tanzania, Richland will be focusing on expanding high value production at its tanzanite mining operation and unlocking profits previously unavailable due to the ongoing security situation in the area. The Company is optimistic that, having now received a new mining license, that the Government of Tanzanian will address the illegal mining activities within the license area and also clamp down on the smuggling of tanzanite which is suppressing tanzanite prices.

END

For more information please contact:

Bernard Olivier

Chief Executive Officer

+61(0) 4089 48182

+255 (0) 767600993

Edward Nealon

Chairman

+61(0) 409 969 955

Nominated Advisor & Broker (AIM)

RFC Ambrian Limited

Samantha Harrison/Jen Boorer

+44 (0) 20 3440 6800

Newgate Threadneedle

Josh Royston/Richard Gotla

+44 (0) 20 7653 9850

Further information is available on the Company's website: www.richlandresourcesltd.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.