Positive testwork and scoping study results for target Cu/Au asset

December 2013

Raging Bull is pleased to announce the completion of a scoping study and testwork program on its previously announced target Copper/Gold tailings asset.

The results of the scoping study and testwork have shown the project is economically robust under Raging Bull's planned flowsheet. The results compare favourably to previous feasibility studies over the resource, which themselves projected total cash costs of just A$600 – A650/oz of gold extracted.

Raging Bull now plans to formalise a funding agreement for acquisition and development of the project. The Company may also consider a public listing through IPO or RTO.