RED 5 LIMITED – KING OF THE HILLS FINAL FEASIBILITY TO BE COMPLETED IN SEPTEMBER QUARTER

Red 5 Limited said today that their “Final Feasibility Study” for their King of the Hills Project, that proposes a stand-alone integrated bulk open pit and underground mining and processing at the King of the Hills Gold Project in Western Australia is on schedule for completion in the September quarter.

The Study for the design and costings for the process plant and other on site infrastructure in being undertaken by GS Engineering Services. The company intends to purchase used transportable accommodation for up to 240 employee and contractor rooms, with associated facilities, waste water treatment plant and office complex. The Company announced on the 25th June that the expected arrival for the camp is scheduled for late 2020.

Mine plan studies are being undertaken by undertaken by SRK and Entech for the King of the Hills Project and expected to be finalised by end September.

Indicated and Inferred Resource for the King of the Hills Project are 90.7mt @ 1.4g/t Au.

RED 5 traded 40m shares today on the announcement down 2.5c or 1.2% to 19.5c

Goldman

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