Admission of Previously Issued Shares

Richland Resources Limited

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

Admission of Previously Issued Shares

Richland advises that it has applied for admission to trading on AIM ('Admission') of 8,314,406 previously issued and allotted common shares of US$0.0003 each ('Shares'). This primarily relates to the issue of Shares as part consideration for the Tsavorite project (as announced on 18 March 2009), with the remainder relating to Shares issued upon exercise of options in 2007 (also previously announced at the time such Shares were issued).

The shares were all issued and allotted on the Company's share register at the relevant date, but have not previously been admitted to trading on AIM. Admission is expected to become effective on 23 February 2012.

The total number of Shares in issue remains unchanged at 118,148,951.

For more information please contact:

Bernard Olivier

Chief Executive Officer

+61(0) 4089 48182

Willi Boehm

Company Secretary

+61(0) 409 969 955

Nominated Advisor & Broker

Ambrian Partners Limited

Samantha Harrison/Jen Boorer

+44 (0) 20 7634 4700

Joint Broker

XCAP Securities PLC

John Grant/Jon Belliss

+44 (0) 20 7101 7070

Threadneedle Communications

Laurence Read/Beth Harris

+44 (0)20 7653 9855

+44 (0)7979 955 923

Notes to Editors:

Richland Resources Ltd, through its wholly-owned subsidiary, TanzaniteOne Mining Ltd, is the largest and most scientifically advanced miner and supplier of rough tanzanite, a unique position that affords it the opportunity to support and influence the entire channel, from mine to market, ensuring that maximum stakeholder value is achieved at each stage of the process. At the last set of audited results Richland Resources was profitable and has undertaken a series of optimisation and mine improvement plans over the previous 24 months.

Tanzanite is a blue coloured gemstone discovered in 1967. The only known resource of Tanzanite is located in the foothills of Mount Kilimanjaro in northern Tanzania.

Richland Resources has become one of the most advanced specialist miners of coloured gemstones and is currently looking to identify new opportunities to expand operations into new stone and geographic regions.

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.