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RSG - Resource Generation Limited - Reserves Upgraded

Release Date: 17/12/2010 09:19:01      Code(s): RSG
RSG - Resource Generation Limited - 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")                                                     
RESERVES UPGRADED                                                               
Resgen has now expanded the detailed mine plan at its proposed Boikarabelo mine 
in the Waterberg region of South Africa, following additional drilling          
undertaken earlier this year on the Kalkpan tenement.                           
The completion of the expanded mine plan has enabled the reserves to be         
upgraded. Boikarabelo now has probable reserves of 744.8 million tonnes, an     
increase of 108.8 million tonnes. The area covered by this reserve amounts to   
only 35% of the resource bearing tenements.                                     
Paul Jury, managing director of Resource Generation, 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,
over several decades.  Together with our 20 year contracts to supply coal to    
India`s CESC power utility and Bhushan Steel Limited, this reserve upgrade      
assists in underwriting revenues for our project finance raising to complete the
Boikarabelo`s reserves and resources in detail                                  
(100% figures)     Inferred  Indicated    Measured   Total Resource Probable    
(million tonnes)   Resource  Resource     Resource   *              Reserve     
                  *         *            *                                      
Waterberg #1 SW                           426.3      426.3          314.2       
Waterberg #1 NE              551.7                   551.7                      
Witkopje S &                              664.2      664.2          430.6       
Draai Om           791.3                             791.3                      
Witkopje N         688.3                             688.3                      
Total              1,479.6   551.7        1,090.5    3,121.8        744.8       
* Total in-situ tonnes of coal excluding shale content. The total resource      
including shale is 6.4 billion tonnes.                                          
Coal qualities are consistent and are the same as those disclosed to the ASX on 
22 January 2010.                                                                
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                                                               
17 December 2010                                                                
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd                           
Date: 17/12/2010 09:19:01 Supplied by www.sharenet.co.za                     
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