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Rsg - Resource Generation Limited - Resources And Reserves Upgraded

Release Date: 20/10/2010 10:31:01      Code(s): RSG
RSG - Resource Generation Limited - Resources and reserves upgraded             
Resource Generation Limited                                                     
Registration number ACN 059 950 337                                             
(Incorporated and registered in Australia)                                      
Share code on the JSE Limited: RSG                                              
Share code on the Australian Stock Exchange ("ASX"): RES                        
ISIN Code: AU000000RES1                                                         
("Resgen" or "the Company")                                                     
RESOURCES AND RESERVES UPGRADED                                                 
The Company`s coal resources and reserves in the Waterberg region of South      
Africa, where it is developing its Boikarabelo mine, have been upgraded after   
analysis of 28 cored holes from a drilling programme earlier this year.         
Boikarabelo`s resources and reserves are now as follows:                        
probable reserves of 636.0 million tonnes, an increase of 32.7 million tonnes;  
plus                                                                            
-    a new measured resource of 204.0 million tonnes; plus                      
-    an indicated resource of 551.7 million tonnes; plus                        
-    an inferred resource of 1.5 billion tonnes.                                
Mine planning is being undertaken which will enable the measured resource to be 
upgraded to probable reserve status.  This is expected to be completed by the   
end of November 2010.                                                           
Paul Jury, managing director of Resgen, said: `These results are further        
confirmation of the potential of our Boikarabelo mine to supply large quantities
of thermal coal to both the export and domestic thermal coal markets.  Together 
with our 20 year contract to supply coal to India`s CESC power utility, the     
results will also strengthen the attraction of Boikarabelo to financiers as we  
raise funds to complete the development.                                        
The drilling programme consisted of 5 boreholes on Witkopje South, 21 boreholes 
on Kalkpan and 2 boreholes on Draai Om. A plan of the areas is included on a    
tenement map which is available on Resgen website, www.resgen.com.au under ASX  
announcements.                                                                  
Further detailed information is provided below.                                 
Boikarabelo`s reserves and resources in detail                                  
(100% figures)               Inferred  Indicated  Measured  Probable            
                            Resource  Resource*  Resource  Reserve              
*         million    *         million              
                            million   tonnes     million   tonnes               
                            tonnes               tonnes                         
Waterberg #1 SW                                             314.2               
Waterberg #1 NE                        551.7                                    
Witkopje S                                                  321.8               
Kalkpan                                           204.0                         
Draai Om                     791.3                                              
Witkopje N                   688.3                                              
Total                        1,479.6   551.7      204.0     636.0               
Previous announcement        1,735.5   569.5      0         603.3               
Increase/(Decrease)          (255.9)   (17.8)     204.0     32.7                
* Total in-situ tonnes of coal excluding shale content                          
-    The probable reserve in the Waterberg #1 South West area has increased by  
    11.8 million tonnes, with a related decrease in the indicated resource in   
    the Waterberg #1 North East area of 17.8 million tonnes.                    
-    The probable reserve in the Witkopje South area has increased by 20. 9     
    million tonnes to 321.8 million tonnes.                                     
-    The measured resource in the Kalkpan area has increased by 204.0 million   
    tonnes, with a related decline in the inferred resource of 255.9 million    
tonnes.                                                                     
The total gross in-situ resource base of Boikarabelo is as follows:             
(100% figures)               Area      Resource  Resource*                      
                            hectares  million   million                         
tonnes    tonnes                          
Waterberg #1 SW              536       865.5     426.3                          
Waterberg #1 NE              706       1,116.4   551.7                          
Witkopje S                   539       945.8     460.2                          
Kalkpan                      284       396.3     204.0                          
Draai Om                     1,009     1,633.8   791.3                          
Witkopje N                   836       1,429.3   688.3                          
Total                                  6,387.1   3,121.8                        
* Excludes shale content                                                        
Information in this release that relates to exploration results, mineral        
resources or ore reserves is based on information compiled by Mr Dawie Van Wyk  
who is a consultant to the Company and is a member of a Recognised Overseas     
Professional Organisation. Mr Van Wyk has sufficient experience which is        
relevant to the style of mineralisation and type of deposit under consideration 
and to the activity which he is undertaking to qualify as a Competent Person as 
defined in the 2004 Edition of the `Australasian Code for Reporting of          
Exploration Results, Mineral Resources and Ore Reserves`. Mr Van Wyk has given  
and has not withdrawn his consent to the inclusion in the release of the matters
based on his information in the form and context in which it appears.           
Sydney, Australia                                                               
20 October 2010                                                                 
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd                           
Date: 20/10/2010 10:31:01 Supplied by www.sharenet.co.za                     
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