Reliance Resources announces high-grade copper (5.2%) and silver (729 g/t) rock grab samples at Akelamo Prospect on Halmahera

• 5.2% Cu from south-east extension of Akelamo Prospect
• 729 g/t Ag, 288g/t Ag and 75 g/t Ag from northernmost outcrops assayed at Akelamo
• New zone of epithermal veining discovered to south-west of Akelamo

VANCOUVER, Oct. 30, 2012 /CNW/ - Reliance Resources Limited (the "Company") (TSX: RI) is pleased to provide an update on its exploration activities at its Akelamo Gold/Silver Prospect, located on the Kapa Kapa property on Halmahera Island, Indonesia. Reliance has more than 44,000 acres of exploration ground on Halmahera (Figure 1), and the Company is the second-largest holder of exploration licences on the island next to Newcrest Mining Limited (ASX: NCM). 

Laboratory assay results have been received for 7 samples collected during the Akelamo reconnaissance exploration program (Table 1).

Sample No.	Ag ppm	Au ppm	Cu ppm	Pb ppm	Zn ppm
RC01041	75	0.01	227	228	195
RC01177	288	0.05	163	172	80
RC01184	655	1.09	1070	1880	1580
RF01185	83	0.02	5.2%	15	305
RC01192	13	0.01	95	36	36
RC01256	729	0.04	785	2300	2300
RC01258	631	0.11	836	1510	1510

Table 1: Recent Akelamo Prospect Rock Grab Sample Results
(See figure 3 for location)

 

Reconnaissance exploration in the southern extension of the Akelamo Zone has encountered rock float of silicified and brecciated volcanics with tarnished sulphides (Figure 2). A grab sample of this has assayed high in copper and silver - 5.2% Cu and 83 g/t Ag. This sample continues a pattern observed at Akelamo of high-grade copper values adjacent to the main Akelamo Zone (Figure 3). 

In another area, three grab samples were collected from mineralised outcrops in the headwaters of Sanggut and Sobit creeks. Assays from these samples confirm strong silver - 729 g/t Ag, 288 g/t Ag and 75 g/t Ag. They represent the northernmost outcrop samples at Akelamo and show the zone is still open to the north.

Outcrop grab sample RC01258 of a vuggy quartz vein was collected 50m south-west the main mapped zone of alteration/veining and returned high silver assays 631 g/t Ag (Figure 3). Sample RC01184 was taken from an outcrop of colloform banded quartz veins near the intersection of Gunyira and Akelamo creeks, within the Main Akelamo Zone and continues to verify the high-grade silver nature of veins within this zone and its association with base metals - 655 g/t Ag, 1.09 g/t Au and 0.1% Cu. 

Recent mapping has also discovered a new zone of epithermal quartz veining and hydrothermal alteration along Kasbi Creek, 500m to the south of the main Akelamo Zone. Mapping and sampling is still reconnaissance in nature and the dimensions of the prospect are still open. Several samples were collected and tested with a hand held Niton XRF instrument including one prepared sample returning a significant analysis of 123 ppm Ag and 0.1% Pb. This and other samples from the new Kasbi Creek prospect are being prepared for confirmation by laboratory analysis. 

A grid-controlled soil sampling program, utilising the Niton, is currently underway across the Akelamo prospect. 

Reliance Resources CEO Gary Lewis says, "The discovery of high grade copper at Akelamo is a further indication of the high prospectivity of the Reliance exploration concessions in Halmahera. Field exploration continues to increase the extent of the mineralisation at Akelamo and it is now evident that the mineralising system is of a large scale. Akelamo is only one 5 known prospect areas within the Kapa Kapa property.

The soil geochemical sample grid at Akelamo should provide further important target definition of the mineralisation prior to drilling. Regional and prospect scale exploration will continue." 

Drilling is continuing in the Company's Tanoyan Gold project in Sulawesi, Indonesia, which currently has a NI 43-101 inferred mineral resource of 208,000 ounces of gold (4.58mt at 1.41 g/t Au) at 0.5 g/t Au cut-off grade which was announced on March 19, 2012. 

Mr. Lewis says, "We look forward to informing shareholders as results from Sulawesi and Halmahera become available and are interpreted by our technical team."

"Tanoyan is the project with the best opportunity of near-term production and remains Reliance's primary focus at present. However, we see the potential of Halmahera as equally important for the long-term future as the island is clearly prospective for high grade gold and silver and hosts one of the world's highest grade epithermal gold mines - Newcrest's Gosowong mine (approximately 5 Moz at 24 g/t Au)." 

About Reliance Resources Limited

 

Reliance Resources has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. 

The Company is active on four of its five Indonesian gold projects; currently drilling on the Tanoyan Gold Project and conducting surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and regional infrastructure is good. 

The company's most advanced project is the Tanoyan Reliance's Tanoyan Gold project in Sulawesi, Indonesia, which currently has a NI 43-101 inferred mineral Resource of 208,000 ounces of gold (4.58mt at 1.41 g/t Au) as at March 2012. 

Rock samples are collected and initially logged at Akelamo Base Camp at the project area. Samples are then securely transported to Reliance's Exploration Office in Tobelo, North Halmahera. Archival samples are retained, as a reference, in the secure Tobelo office facility. All QC samples are introduced before the bagged samples are sent by courier to PT Intertek Laboratory's sample preparation facility in Manado. Prepared samples are then couriered by PT Intertek to their analytical facility in Jakarta for analyses.

Gold is fire assayed using a 50.0 gram aliquot sample with an AA finish. Multi-element analysis is by Four Acid Digestion using an Induced Coupled Plasma (ICP) finish. 

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

This press release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Limited and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

Figure 1: Northern Halmahera showing location of Reliance Resource's tenements
(http://files.newswire.ca/1117/KapaKapa-figure1.pdf)

Figure 2: Rock float sample RF01185 from Gunyira Creek showing tarnished copper sulphides in a breccia matrix - 5.2% Cu and 85 g/t Ag. (field of view approximately 6cm)
(http://files.newswire.ca/1117/KapaKapa-figure2.pdf)

Figure 3: Plan view of Akelamo Prospect showing mapped 600m zone of hydrothermal alteration, epithermal quartz veining and sulphide mineralisation and recently identified extensions
(http://files.newswire.ca/1117/KapaKapa-figure3.pdf)

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SOURCE: Reliance Resources Ltd.

Gary Lewis, Chairman & CEO, Reliance Resources Limited: +61 2 8259 4799
Adam Holdsworth, DGI: +1 212-825-3210

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Reliance Resources offers drilling update on Tanoyan Gold Project in Sulawesi, Indonesia

• Phase 2 drilling totals 10 holes and 1,530.8 metres
• Deepest intersection at Tanoyan affirms the trend for increased gold grade with depth of 12.6 metres at 2.7 g/t Au from 179.1m (TND097)
• Part of Phase 2, 10,000-metre drilling program to increase 43-101 mineral resource estimate

VANCOUVER, Sept. 13, 2012 /CNW/ - Reliance Resources Ltd. (the "Company") (TSX:RI) is pleased to announce the completion of 10 holes and 1,530.8m of diamond drilling on its 75 percent-owned Tanoyan Gold Project in Indonesia. This drilling is part of an ongoing, 10,000-metre Phase 2 program designed to further assess the resource potential of the large 6Km epithermal vein system at Tanoyan. The most recent resource estimate was the independent NI 43-101 Inferred Mineral Resource of 208,000 ounces of gold released on the 19^th of March, 2012.

Table 1 lists the gold intersections from the Phase 2 drilling which includes three holes that were previously released (17^th May and 31^st May, 2012), and the locations of the holes in relation to the mapped veins and previous drill collars is shown in Fig 1.
Highlights of the recent results include those from TND097 which achieved the deepest gold intersection so far obtained on the Tanoyan property:

• TND 097: 12.6 metres at 2.7 g/t Au from 179.1m

This intersection is important as it confirms that the gold mineralising system continues strongly to depth in the northern part of the Sondana Vein.

The drilling results confirm the indications from previous work, that the upper sections of the North Sondana vein is relatively low in gold (e.g. TND 096 intersected only low gold values in the vein). The vertical cross-section in fig. 2 shows recent drill results and is an example of the deeper enrichment, near-surface-depletion zonation of the gold mineralisation often encountered in Sondana North.

The recent drilling also emphasised the importance of post-mineral cross-cutting faults that contributed to some of the misses in recent holes. For example, TND093 did not intersect the Sondana Vein in the predicted position. At this position the vein is now interpreted to have been faulted off approximately 40 metres north. 

The Sondana Vein has been traced along strike for at least a further 1.1 km from the northernmost hole drilled by Reliance Resources (TND081).  This northern extension has only been tested by two shallow historic drillholes (see fig 3). In keeping with the pattern encountered at Sondana North, below-average gold values were encountered in shallow intersections of the vein (e.g. TND 039: 7.3m @ 1.0 g/t Au). However, the mineralisation model being developed for Tanoyan suggests future Phase 2 drilling will encounter stronger mineralisation at intermediate and deep levels. 

Reliance Resources CEO Mr. Gary Lewis said: "Tanoyan is our most advanced project and the continued progress on the Phase 2 drilling is important in our quest to turn the project into a producing asset. These recent results have advanced our understanding of the geology of the Tanoyan gold system as well as provided us with the deepest gold intersection on the property to date. Drilling will continue at Tanoyan and we look forward to updating investors as results come to hand and are interpreted by our geologists."

The Tanoyan Gold Project consists of an extensive system of auriferous quartz veins comprising four principal vein systems: Sondana, Ramai, Modupola/Talong and Lingkobungon. These veins are predominantly orientated northeast and dip steeply or moderately to the northwest or southeast.  The veins are hosted by andesitic volcanic rocks and have been mapped over a combined strike length of approximately six kilometres. 

The Phase 2 program aiming for a significant upgrade to the existing NI 43-101 resource by targeting extensions to drilled sections of the veins, which have been identified along strike and at depth on all vein systems. Previous drilling has primarily been tightly focused on the Sondana and Modupola veins and the current Phase 2 program will extend drilling into all target areas.

The resource model at the Sondana and Modupola veins is open at depth for most of its length, especially in the north of the Sondana vein, where significant drill intersections from Phase 1 drilling are located. The Phase 2 drilling program is designed to test at depth for extensions mineralisation that have been mapped on surface and in locations where earlier drilling has shown the mineralisation is open at depth. Infill drilling should confirm the strike continuity of vein systems and thereby improve the classification of the mineral resources. 

The Company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. Importantly, all projects have been converted to IUP tenements as required under the new Indonesian Mining Act (2009).

The Company is active on three of its five Indonesian gold projects; currently drilling on the Tanoyan Gold Project and conducting surface exploration programs on the Kapa Kapa Gold Project and the Roko Gold Projects. All of the projects have easy access via paved and/or gravel roads and regional infrastructure is good. 

This press release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Limited and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

The statements herein that are not historical facts are forward-looking statements.  These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators.  Actual results could differ from those currently projected.  The Company does not assume the obligation to update any forward-looking statement. 
 

Table 1: Tanoyan Project Drilling Results for 2012 (*including previously released results)

DH No.	Zone 51 N UTM		Depth (m)	Vein	From	To	Interval(1)	Au
	East	North			(m)	(m)	(m)	(g/t)
TND088*	638857	66379	156.5	Sondana Sth	114.75	115.4	0.65	0.9
					125.4	126.05	0.65	2.3
TND089*	639020	66703	132	Sondana Sth	101.4	106.7	5.3	4.4
TND090*	639168	66915	222.5	Sondana Cent	50.5	65.0	14.50	2.8
				incl	51.5	55.2	3.70	5.8
				and	59.5	62.5	3.00	4.1
TND091	639209	66957	120		56.8	60.2	3.4	0.5
TND092	639204	67016	130.6	Sondana Cent	129.35	130.60	1.25	0.3
	Hole abandoned due to ground collapse as DH intersected Sondana Vein - to be redrilled
TND093	639121	66898	149.6	Sondana Cent	No significant assays
	Sondana Vein not intersected due to offset by late-stage fault
TND094	639056	66812	132.3	Sondana Sth	No significant assays
TND095	638927	66643	189.5	Sondana Sth	Awaiting assay results
TND096	639598	67393	77	Sondana Nth	24.0	28.9	4.9	0.1
TND097	639543	67438	220.8	Sondana Nth	179.1	191.7	12.6	2.7
			1530.8

⁽¹⁾ Not true width but drilled width.
 
 
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SOURCE: Reliance Resources Ltd.

Media Enquiries, contact:
Gary Lewis, CEO
gary.lewis@relianceresources.com.au

Investor Enquiries, contact:
Adam Holdsworth, DGI
aholdsworth@dgicomm.com

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Reliance Resources Engages DGI for Investor Relations

Initiates Campaign of Investor Outreach to Strengthen Company Awareness

 

VANCOUVER, Aug. 20, 2012 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance Resources" or "the Company"), a progressive international exploration and resource development company with a primary focus in Indonesia, announces it has engaged Dian Griesel Inc. (DGI), a prominent, full-service corporate communications firm, to serve as its investor relations agency. 

DGI will implement a campaign targeting portfolio managers, analysts and the retail community with the goal of increasing investor awareness of Reliance Resources and its gold exploration activities. Reliance Resources oversees a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. Currently, the Company is focusing on three of its five Indonesian gold projects; preparations for Phase 2 drilling on the Tanoyan Gold Project are underway, and surface exploration programs are ongoing at the Kapa Kapa Gold Project and the Roko Gold Project.

"We have identified a significant opportunity in Indonesia and are continuing to develop our properties there," said Gary Lewis, Chairman and CEO of Reliance Resources. "Our five tenements are in good standing, and an aggressive 10,000-meter exploration program at Tanoyan remains firmly on track for a resource upgrade later this year. Our overriding strategy for the coming year is to invest in projects with the prospect of near-term cash flows. DGI has the experience to complement our efforts by helping us ensure that the investment community is aware of our activities. We look forward to working closely with DGI."

DGI, founded in 1996 as The Investor Relations Group, is a full-service corporate communications firm. The company provides an array of services that include targeted introductions to the investment community as well as the media-at-large through the best of traditional and new media outlets.

About Reliance Resources Limited

Reliance Resources Limited is a progressive international exploration and resource development company with its primary focus in Indonesia. The company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. Reliance Resources' Indonesian properties offer an important entry into exciting gold provinces in a country widely regarded as one of the most prospective exploration terrains in the world. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. Importantly, all projects have been converted to IUP tenements as required under the new Indonesian Mining Act (2009). For more information, please visit www.relianceresources.com.au
 
SOURCE: Reliance Resources Ltd.
For further information:
Reliance Resources Ltd.
Nicholas Clark
nc@relianceresources.com.au
 
or

DGI
Investor Relations:
Adam Holdsworth, 212-825-3210
aholdsworth@dgicomm.com

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Reliance Resources Announces Board and Management Changes

VANCOUVER, July 30, 2012 /CNW/ - Reliance Resources Limited (TSX: RI) (the "Company") announces the resignation of Scott Emerson and Nick Demare as directors of the Company, and the resignation of Scott Emerson as President of the Company.  The Board of Directors is currently comprised of the following individuals:  Gary Lewis, John Levings, Ian Mitchell and Andrew Wilson.

The Company would like to thank Messrs. Emerson and Demare for their efforts and contributions to the Company's affairs over the years, and the Company wishes them success in their future endeavours.
On behalf of the Board of Directors of Reliance Resources Ltd.
SOURCE: Reliance Resources Ltd.

Media Information, contact:
Gary Lewis, Chairman and CEO
Tel.: +61 28594779
Email: gl@relianceresources.com.au

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Reliance Resources receives financing from Robust Resources

• Robust to invest $694,000 as part of recently announced $1.2 million placement
• Association with Robust brings in-country skills
• Funds used to advance resource and exploration drilling at Tanoyan Gold Project

VANCOUVER, July 10, 2012 /CNW/ - Indonesian focused exploration company Reliance Resources Ltd (the "Company") (TSX:RI) is pleased to announce that it has completed the first tranche of the $1.2 million dollar financing at $0.15 per share as reported to shareholders on June 22, 2012. 

Robust Resources Limited, a company listed on the Australian Securities Exchange (ASX:ROL), has invested a total of $694,144.00 for 4,627,627 new ordinary Reliance shares. These shares will be subject to a four month hold period from the date of closing. The placement is subject TSX Exchange approval. 

Headquartered in Australia, Robust Resources is an Indonesian-focused exploration and development company with a portfolio of projects in Indonesia and the Philippines. The company's flagship Lakuwahi project located on Romang Island has a JORC mineral resource of 1.18 million ounces of gold equivalent plus base metals credits. Further information is available at www.robustresources.com.au

 

Robust Resources and Reliance Resources have a number of common directors and they share resources in Indonesia in order to manage their respective cost bases.

Robust Resources Managing Director, Mr. Gary Lewis said Robust is particularly encouraged by the prospects for Reliance's Tanoyan Gold project in Sulawesi, Indonesia, which currently has a NI 43-101 inferred mineral Resource of 208,000 ounces of gold (4.58mt at 1.41 g/t Au) as at March 2012. 

"Robust is continuing to strengthen its portfolio in Indonesia and we are constantly assessing new investment opportunities. We are particularly encouraged by the prospects for the Tanoyan Gold Project, and with its growing resource base, and with the exploration program yielding highly encouraging results, the Board took the decision that an investment in Reliance offers significant upside. 

"Reliance will continue to be able to benefit from Robust's strong technical capabilities and in-country team"

Reliance's President Mr. Scott Emerson added, "It made sense to have Robust as an investor in Reliance and the synergies of both companies works well".

This funding gives Reliance the capacity to significantly advance the phase two, 10,000 metre resource and exploration drilling program which is currently underway at Tanoyan.

"We have every confidence that we will increase our mineral resource at Tanoyan and we look forward to updating shareholders on more drilling results from the project shortly." 

Reliance Resources Ltd. has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural features. 

For further information:
Media Information, contact:
Scott Emerson, President
se@relianceresources.com
Investor Information, contact:
Mike Kordysz
mk@relianceresources.com

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Tanoyan Gold Project, Sualawesi, Indonesia : Drilling continues to intersects gold mineralisation

• Results received from first 2 holes
• Include 5.3 metres at 4.4 g/t Au from 101.4m
• Extends Sondana vein gold mineralisation at depth with increasing grade and thickness
• 10,000 metres diamond drilling program underway

VANCOUVER, May 17, 2012 /CNW/ - Reliance Resources Ltd. (the "Company") (TSX:RI) is pleased to announce drilling results from 2 holes into the Sondana Vein system on the Tanoyan Gold Project, Sulawesi, Indonesia (see Table 1). The company recently commenced drilling of its planned 10,000 Phase 2 program following the release of an updated independent NI 43-101 report for Tanoyan (March 19, 2012), which more than doubled the Inferred Mineral Resource to 208,000 ounces of gold.

The Tanoyan Gold Project consists an extensive system of auriferous quartz veins, comprising four principal vein systems, Sondana, Ramai, Modupola/Talong and Lingkobungon. These veins are predominantly orientated northeast and dip steeply or moderately to the northwest or southeast. The veins are hosted by andesitic volcanic rocks and have been mapped over a combined strike length of approximately 6 kilometres.

The Phase 2 program is aiming for a significant upgrade to the existing NI 43-101 resource by targeting extensions to drilled sections of the veins, which have been identified, as well as along strike and at depth on all vein systems. Drilling to date has primarily been tightly focused on the Sondana and Modupola veins.

Assay results have been received from the first two drill holes in the new program and include a high-grade intersection:

• TND 089: 5.3 metres at 4.4 g/t Au from 101.4m

The assay result for hole TND 089 continues a theme from earlier drilling which shows a general increase in grade and thickness with depth which represents a significant increase in grade and width from the overlying drillhole along this section (TND083)

(Figure 1). http://www.relianceresources.com/i/maps/Sondana-Vein-Drill-Section-TND089.jpg
 

TND 088 was drilled in the southern portion of the Tanoyan system and intersected 2 zones of quartz vein containing gold mineralisation over narrow widths. Details of the intersections are to be found in Table 1. This section of the Sondana vein has only been sparsely drilled and further structural analysis and follow up drilling will be required to locate thicker and higher grade zones.

The resource model at the Sondana and Modupola veins is open at depth for most of its length and along strike to the north of the Sondana vein, where significant drill intersections from Phase 1 drilling are located. The Phase 2 program is designed to extend mineralisation along strike and laterally with further drilling. Infill drilling should confirm the strike continuity of vein systems and thereby improve the classification of the mineral resources. 

Reliance president Scott Emerson stated "We are pleased to be drilling again at Tanoyan. The first assay results are in and they include an excellent result from TND 089. It is encouraging to see the gold grades continuing to show an increase in grade with depth of drilling. These results are in line with Reliance's goal to prove up relatively shallow resource ounces, within 150 metres of surface, which could conceptually support a low-cost open cut mine."

The Company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. Importantly, all projects have been converted to IUP tenements as required under the new Indonesian Mining Act (2009).

The Company is active on four of its five Indonesian gold projects; currently drilling on the Tanoyan Gold Project and conducting surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold/Silver Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and regional infrastructure is good. 

This press release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Limited and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out. 

The statements herein that are not historical facts are forward-looking statements.  These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators.  Actual results could differ from those currently projected.  The Company does not assume the obligation to update any forward-looking statement.
 

Table 1: Tanoyan Project Drilling Results

DH No.	Vein	From (m)	To (m)	Interval (m)	Au (g/t)
TND088	Sondana	114.75	115.4	0.65	0.9
TND088	Sondana	125.4	126.05	0.65	2.3
TND089	Sondana	101.4	106.7	5.3	4.4

For further information: Media Information, contact:
Scott Emerson, President
se@relianceresources.com 
Investor Information, contact:
Mike Kordysz,
mk@relianceresources.com

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Reliance Resources Ltd. - Roko Gold Project, Halmahera, Indonesia: Major Epithermal System Outlined

• Recent exploration results enhances prospectively for gold mineralisation
• Host rocks, hydrothermal alteration and structural setting similar to nearby "Gosowong" bonanza gold deposit
• 3 km corridor hosting high level epithermal quartz veining and altered intrusive has been discovered
• Most prospective target zone for bonanza gold mineralisation expected to be at a deeper level
• Preliminary soil sampling results confirms anomalous pathfinder elements
• Surface exploration continues in preparation for diamond drilling program

VANCOUVER, May 15, 2012 /CNW/ - Reliance Resources Ltd. (the "Company")(TSX:RI) is pleased to update exploration activities on its Roko Gold Prospect on Halmahera Island, Indonesia. Halmahera is host to one of the highest-grade underground major gold discoveries in recent years: Newcrest's Gosowong-Kencana gold mine, (past production: 2.0 Moz Au, current resources: 2.4 Moz Au, average head grade 2008-2011: 30 g/t Au)¹. Reliance Resources has the second largest landholding for gold exploration on Halmahera after Newcrest Mining.

Work to date on the Roko Project, including mapping, gridding, channel sampling and trenching, has resulted in the discovery and surface definition of a 3 kilometre long structurally-controlled target corridor which is considered to be associated with a major, deep crustal, north-east trending transfer fault (The Tiabo Lineament). The Tiabo Lineament, which passes through the Roko concession area, is considered an important regional geological feature associated with numerous occurrences of gold and silver (including Reliance's Roko and Kapa Kapa project areas). The major Gosowong-Kencana gold mining camp is interpreted by the company's expert structural geologists to be associated with another deep crustal lineament which parallels the Tiabo Lineament.

The 3-kilometre Roko target corridor is host to igneous intrusions, multi-phase hydrothermal alteration and high level epithermal quartz vein mineralisation considered highly prospective for hosting gold and silver mineralisation.

Detailed mapping at Roko West has outlined a north-west trending zone of multiple chalcedonic quartz veins and strongly siliceous eruption breccias with associated hydrothermal alteration along the south western slope of Sesa Hill (Figure 1). Most veins trend north-west with subsidiary north-south vein splays. The breccias occur mainly in an area central to Sesa Hill and are interpreted to represent an eruptive hydrothermal breccia pipe. Eruption breccia pipes are known to be intimately associated with mineralised epithermal vein systems. The Toka Tindung Mine (1.7 Moz Au) in Indonesia is centred on an eruption breccia and epithermal vein systems at McLaughlin (4 Moz Au) in USA, Twin Hills in Australia and Hishikari (9 Moz Au), Japan, grade upwards into outcropping eruption breccia pipes.

The main zone of veining and alteration so far mapped at Roko West is approximately 1 kilometre in length and 100-200m in width. Banded chalcedonic veins at Roko East outcrop along the banks of the Ira River. The zones are considered to be very prospective as historical channel sampling along the banks of the Ira River retuned 8m @ 1.6 g/t Au which is strongly anomalous for an epithermal vein at such a high level in the system.

Fig 1 Plan view of Roko West and Roko east prospect with location of mapped quartz veins

http://www.relianceresources.com/i/maps/Plan-view-RW-RE.jpg

A grid-controlled soil sampling program has been completed at Roko West and is currently being extended a further 1000 metres to the west where float samples of hydrothermally altered porphyry with quartz-sulphide veins have recently been encountered. Rock samples have been submitted to Intertek Laboratories in Jakarta for assay and results are awaited. Soil samples are collected in the field and taken to Reliance's regional office to be dried. As a preliminary indication of metal content, a portable, hand-held Niton XRF analyser² is used to determine the concentration of epithermal pathfinder elements such as arsenic (As) and antimony (Sb).

The Niton results show that Sb and As, are anomalous along the strike length of the north-west trending zone of alteration/veining and are highest adjacent to the interpreted eruptive breccia pipe.

Rock grab sampling of quartz veins at Roko has encountered anomalous gold values of between 0.1 - 2.1 g/t Au. Previous reconnaissance channel sampling at Roko East returned 8m @ 1.6 g/t Au. According to the geological model developed for the Roko veins, bonanza gold values are not to be expected at surface but may occur at deeper levels within the system; in zones of fluid mixing and/or boiling. All current indications at surface are that the Roko mineralisation outcrops at a very high level in the hydrothermal system. For example siliceous sinter has been encountered on the slopes of Sesa Hill, evidence of a surface outpouring of hydrothermal fluids (eg similar to The Geysers geothermal field and sinters at the nearby ex-Homestake McLaughlin Mine (4Moz Au) in California).

Geological work at Roko has identified a structurally-controlled corridor with many similar characteristics to the nearby Gosowong deposits. Both have north-west to south-east and north-south trending epithermal quartz veins with associated hydrothermal breccias and sulphide mineralised porphyries. The high-grade veins at Gosowong occur at a lower level in the hydrothermal system. The exploration focus at Roko is to delineate epithermal veins within the prospective corridor and then to drill them at the appropriate level to discover high-grade gold and silver mineralisation.

To maximise the likelihood of a successful drill program further surface exploration is planned such as ground geophysics (resistivity, IP, Magnetics) across the main alteration zones at Roko. These surveys will assist with better defining zones of silicification / epithermal quartz veining, especially in areas of poor surface exposure and will also provide a 3-dimensional view of the mineralising system to best target the drilling, in what is a large epithermal system.

The Company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature.

The Company is active on four of its five Indonesian gold projects; currently drilling on the Tanoyan Gold Project and conducting surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and regional infrastructure is good.

This press release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Limited and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

1. http://www.infomine.com/index/pr/PB164711.PDF Technical Report on the Gosowong Property in North Maluku Province, Indonesia dated December 31, 2011
2. Portable XRF instruments are generally not sensitive enough to accurately detect low concentrations at which gold can occur in soil (<10ppm Au).  Pathfinder elements are useful to define zones of hydrothermal fluid flow which may host gold mineralisation. The soil samples collected in this work will eventually be assayed for gold at a commercial laboratory

For further information: Media Information, contact:
Scott Emerson, Chairman and Director
SE@goldenpeaks.com
Investor Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.com

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Phase 2 drilling commenced at Tanoyan Gold Project, North Sulawesi, Indonesia

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Re:        News Release - Friday, March 30, 2012
Title:     Phase 2 drilling commenced at Tanoyan Gold Project, North Sulawesi, Indonesia

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• 10,000 metres of diamond drilling
  
• 6 Km total strike length of shallow epithermal vein system
  
• Drilled mineralized zones open on strike and at depth

March 30, 2012, Reliance Resources Ltd. (the "Company")(TSX:RI) is pleased to report that drilling has commenced at the Tanoyan Gold property on Sulawesi island, Indonesia. The company recently released (March 19, 2012) an updated independent NI 43-101 report for Tanoyan which more than doubled the Inferred Resource Gold Ounces to 208,000 Oz. In the light of this positive result and the clear potential, the company has embarked on a 10,000 metre, diamond drilling program which is designed to further increase the mineral resources.

The Tanoyan Gold Project consists of four principal vein systems, Sondana, Ramai, Modupola/Talong and Lingkobungon, which are predominantly orientated northeast to southwest and dip steeply to the northwest or southeast forming an extensive system of auriferous quartz veins. The veins, which are hosted by andesitic volcanics, have been traced over a combined strike length of approximately 6 kilometres. Drilling to date has primarily focused on the Sondana and Modupola veins. The resource model at Tanoyan is open at depth, length and along strike.

In addition, the Phase 2 drill program will test the Ramai, Lingkobungon and Talong Vein systems

President Scott Emerson commented: "Reliance is executing its Phase 2 drilling plan at Tanoyan. I feel confident that this work will continue the success from Phase 1 and will result in further discoveries and significantly increase our mineral resources. In addition, Reliance continues to carry out pre-drilling exploration work on our other projects including the exciting high-level epithermal gold and silver prospects on the island of Halmahera."

The Company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. Importantly, all projects have been converted to IUP tenements as required under the new Indonesian Mining Law 4/2009.

The Company is focusing on four of its five Indonesian gold projects; currently drilling on the Tanoyan Gold Project and conducting surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and regional infrastructure is good.

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Additional High-Grade Silver Assays from Kapa Kapa Gold-Silver Project, Halmahera, Indonesia

News Release - Wednesday, March 14, 2012
Title:     Additional High-Grade Silver Assays from Kapa Kapa Gold-Silver Project, Halmahera, Indonesia

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• Rock grab samples assay up to 2,920 g/t Ag (85.1 ounces silver per ton)
• Continued confirmation of bonanza-grade silver
• Mineralized zone traced over 1 Km strike; remains open

March 14, 2012 - Reliance Resources Limited (the Company) (TSX:RI) is pleased to update exploration activities from the ongoing field program at the Kapa Kapa gold and silver project, located on, Halmahera Island, Indonesia.

Current exploration is focussing on hydrothermally altered rocks and precious metal mineralisation within a target zone; so far exceeding 1 Km strike length and up to 200 metres width.

Mapping and rock chip sampling is continuing to define and extend the north-north-west trending zone. The company regards the Akelamo prospect to be underexplored due to the presence of an extensive blanket of geologically recent volcanic ash which largely covers underlying mineralised bedrock. Erosion has removed this ash layer in isolated places allowing inliers of bedrock to be exposed. Epithermal veining seen in Akelamo River occurs within one such inlier of exposed bedrock.

Grab sampling of outcrops within the Akelamo River valley (Figure 2) has continued to return high silver values associated with epithermal quartz veining and hydrothermal breccias, including;

• RC00978 - 1,080 g/t Ag
• RC00989 - 344 g/t Ag
• RC00996 - 307 g/t Ag
• RC00988 - 392 g/t Ag
• RC01102 - 2,920 g/t Ag

The highest silver value from the company's recent sampling (RC01102 - 2,920 g/t Ag) is from an epithermal quartz vein cutting across a hydrothermal breccia along the banks of a tributary of Akelamo River. This sample also has a significant base metal association - 0.2%Cu, 1.7% Zn and 1.0%Pb.

This zone was further tested with a 1.2 meter channel sample using a continuous chip sampling method and returned:

CH01006 - 1.2m @ 1,490 g/t Ag, 1.7%Zn, 800ppm Pb and 570ppm Cu

Sampling by the company shows the zone of mineralised and altered andesitic volcanics is approximately 200 meters in width along the Akelamo River valley. The zone is open to the north and the south. Preliminary reconnaissance work to the south of Akelamo River has encountered altered volcanic bedrock with quartz veining and secondary copper staining (malachite) 600m south of Akelamo River within the NNW-trending zone of interest (Figure 1).

A grab sample of material derived from this zone assayed:

• RF01105 - 0.7% Cu, 0.1 g/t Au, 12 g/t Ag

Historical channel sampling from the Akalemo prospect (Figure 1) returned bonanza silver along with anomalous gold; including:

• 4m @ 1,800 g/t Ag (and 0.5 g/t Au)
• 4m @ 466 g/t Ag
• 5m @ 0.9 g/t Au

A historic rock float sample assayed 15,800 g/t Ag (460 ounces of silver per ton) and 3.0 g/t Au. Preliminary sampling by the company previously reported high silver values up to 992 g/t Ag from the initial reconnaissance sampling and mapping program. These values plus the new values demonstrate the potential this prospect has for truly bonanza-grade silver mineralisation. Surface exploration is continuing in preparation for the upcoming drilling program.

Halmahera is host to Newcrest Mining Limited's Gosowong Mine, one of the highest-grade underground gold mines currently operating anywhere in the world (28 g/t gold average). Reliance Resources has the second largest landholding for gold exploration on Halmahera after Newcrest Mining.

Currently, the company is active on three of its five Indonesian gold projects; preparations for Phase 2 drilling on the Tanoyan Gold Project are underway, surface exploration programs ongoing at the Kapa Kapa Gold Project and the Roko Gold Project. All the company's projects have easy access via paved and/or gravel roads and the regional infrastructure is good.

Rock samples are collected and initially logged at Akelamo Base Camp at the project area. Samples are then securely transported to Reliance Resources' Exploration Office in Tobelo, North Halmahera. Archival samples are retained, as a reference, in the secure Tobelo office facility. All QC samples are introduced before the bagged samples are sent by courier to PT Intertek Laboratory's sample preparation facility in Manado. Prepared samples are then couriered by PT Intertek to their analytical facility in Jakarta for analyses.

Gold is fire assayed using a 50.0 gram aliquot sample with an AA finish. Multi-element analysis is by Four Acid Digestion using an Induced Coupled Plasma (ICP) finish.

The Company's QA/QC program now includes the regular insertion of blanks and certified assay standards into the sample shipments. Locally-sourced blank samples are inserted in every assay batch of 20 samples. Commercial standards are inserted in every assay batch of 25 samples. Regular monitoring of these QC samples is a critical part of Reliance Resources' QA/QC protocols.
This press release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

Media Information, contact:
Scott Emerson, President
and Director
se@relianceresources.com

Investor Information, contact:
Mike Kordysz, Investor
Communications
mk@relianceresources.com

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Fig 1 -- Akelamo Prospect - location of NNW-trending zone of mineralised and altered volcanics.
http://www.relianceresources.com/i/maps/KapaKapa/Akelamo-Exploration.jpg

Fig 2 -- Akelamo Prospect - sample locations (grab samples are selective by nature and are unlikely to represent future average grades on the property) http://www.relianceresources.com/i/maps/KapaKapa/Akelamo-Prospect.jpg

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New Indonesian Mining Regulation

VANCOUVER, March 9, 2012 /CNW/ - Reliance Resources Limited, (TSX;RI) (the company) would like to  provide the following update in relation to the recently announced Indonesian Government Regulation No. 24 of 2012, regarding foreign ownership of mining projects.  It is noted that the Indonesian press is giving focus to certain foreign owned mining enterprises that do not have any direct Indonesian ownership, which is not the case with Reliance. 

Reliance advises that the Company's three Sulawesi and two Halmahera projects are already compliant with divestiture requirements under Mining Law 4/2009 and the Company does not expect to have to undertake any further divestment under the new regulations.

The Company will continue take advice and to monitor the situation with its local partners who currently own between 10% and 25% of the Indonesian incorporated subsidiaries that hold the Reliance tenements.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
 
For further information:
Media Information, contact:
Scott Emerson, President
and Director
se@relianceresources.com
 
Investor Information, contact:
Mike Kordysz, Investor
Communications
mk@relianceresources.com

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Neue Regionen werden entdeckt, Explorationsbudgets auf Rekordkurs

Die Stimmung in der Bergbaubranche wird immer besser. Das sieht man auch an den aktuellen Explorationsbudgets.

Tagebau - Hier: auf einem Projekt von Barrick Gold

Von 2002 bis 2008 sind die Explorationsausgaben in der Bergbaubranche immer weiter angestiegen. Eine steigende Nachfrage nach Rohstoffen, vor allem aus den Schwellenländern, sowie hohe und weiter steigende Rohstoffpreise haben den Boom gefördert. Dann kamen die verschiedenen US-Krisen in den Jahren 2008 und 2009, sodass die Explorationstätigkeiten einen harten Einschnitt erlebten. 2009 wurden weltweit noch 8,4 Milliarden Dollar für Sucharbeiten nach nicht-eisenhaltigen Metallen ausgegeben. Inzwischen klettern die Budgets wieder deutlich an, 2011 liegen die Ausgaben für entsprechende Explorationstätigkeiten bei rekordverdächtigen 18,2 Milliarden Dollar. Das geht aus einem Bericht der Metals Economics Group hervor, der traditionell zu Beginn der PDAC in Toronto (Kanada) veröffentlicht wird. Auf dieser Messe trifft sich die gesamte Bergbaubranche. Mehr als 25.000 Teilnehmer diskutieren über die Trends der Branche, über Kosten und neue Möglichkeiten.

Die Kostensteigerungen machen der Branche dabei derzeit zu schaffen, auch bei den Explorationsarbeiten. Höhere Kosten für Energie, Material und Arbeit lassen die Budgets ansteigen. Kostenexplosionen um 20 bis 30 Prozent sind aktuell keine Seltenheit. Damit ist nicht jedes Projekt, das ursprünglich interessant erschien, am Ende wirklich lohnenswert.

Die meisten Gelder werden momentan für die Suche nach Gold, Kupfer und Silber genutzt. Oft werden die Rohstoffe gemeinsam gefunden, daher ist eine genaue Aufspaltung schwierig. Geographisch liegt Lateinamerika bei den Budgets weit vorne. Jeder vierte Dollar wird dort ausgegeben. In Kanada wird etwa jeder fünfte Dollar des weltweiten Explorationsbudgets benötigt.

Mehr und mehr gehen Bergbaugesellschaft jedoch dazu über, in solchen Ländern zu investieren, die als eher gefährlich gelten. Dies kann an der politischen Lage liegen, an der Gesetzgebung oder andere Gründe haben. Rund 23 Prozent aller Budgets werden in diesen Staaten ausgegeben. Dabei haben sich zuletzt zwei „Stars" herauskristallisiert. Hohe Beträge fließen nach Kolumbien und in das afrikanische Burkina Faso, früher als Obervolta auf den Weltkarten verzeichnet. Experten glauben, dass beide Länder auch in Zukunft große Summen anlocken können, die Perspektiven sind vorhanden. Hier hoffen Investoren auf bessere Margen. Denn andere Länder beschneiden die Gewinne der Unternehmen durch immer neue Steuern und Gebühren. Der Bericht der Experten macht deutlich, dass in den vergangenen beiden Jahren eine Reihe von Ländern ihre Steuern für Bergbauunternehmen erhöht haben oder diese zeitnah erhöhen wollen. Genannt werden unter anderem Chile und Australien, zwei klassische Bergbaunationen, die ihre starke Stellung im Sektor ausnutzen. So manch ein Explorationsunternehmen sieht sich dadurch unter Druck. Die Entscheidung, Gelder in anderen Regionen zu investieren, fällt durch solche Aspekte manchmal leichter.

Quelle:goldinvest

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Exploration Update Palopo Gold Project, Indonesia

February 24, 2012 - Reliance Resources Resources Limited (the Company) (TSX:RI) is pleased to update exploration activities at its Palopo Gold Project located on Sulawesi Island, Indonesia.

The Company recently conducted reconnaissance rock chip sampling at the Mangkaluku North and Siguntu Gold Prospect within its Palopo property. (Figure 1). Sampling at Mangkaluku North was designed to test for extensions to quartz-sulphide veins with gold mineralisation intersected by historical diamond drilling at the Mangkaluku Prospect. Sampling at Siguntu took place to locate the source of alluvial gold being worked by local villagers in Lattupa Valley.

These two prospects have the least amount of historical exploration activity with Mangkaluku North defined by a single rock sample which assayed 25 g/t Au.

Exploration is planned to continue along this zone to the north of Mangkaluku and to the south towards the Balantungan Prospect, in preparation for drilling.

Figure 1: Palopo Tenement, Structures and Prospects

http://www.relianceresources.com/i/maps/Palopo/Palopo-Structures-and-Prospects.jpg

At Mangkaluku North (figure 2) a total of 23 reconnaissance rock chip samples were collected from various rock-types over an area 1.5 to 2 kilometres north of Mangkaluku along a major NNW-trending structural zone. Results show that 17 samples contained weak to moderately anomalous levels of gold; 8 samples were strongly gold mineralised >0.5 g/t Au, and three samples returned very high gold values of: 18.9, 21.0 and 29.1 g/t Au.

Gold mineralisation that has been identified to date at the Siguntu prospect (Figure 1) consists of thin but high-grade mesothermal veins along the banks of the Lattupa River. Three rock chip samples were taken and all returned significant gold values with a highest value of 70 g/t Au from altered volcanic rocks cut by numerous quartz veinlets.

Work at the Mangkaluku North prospect at this stage although preliminary and of a reconnaissance nature clearly shows there is potential to find Mangkaluku-style qtz-sulphide veins along the northern extensions of the NNW-trending regional structure.
Exploration is planned to continue along this zone to the north of Mangkaluku and to the south towards the Balantungan Prospect.

Figure 2: Selected rock chip sample locations and values

http://www.relianceresources.com/i/maps/Palopo/Palopo-Rock-Chip-Samples.jpg

Historical exploration at Palopo outlined a series of quartz-sulphide vein prospects hosted by hydrothermally altered igneous and sedimentary rocks. The prospects appear to lie along major regional structures (fig 1). Mineralisation exhibits similarities to the Awak Mas deposit (1.7M ozs Au) approximately 40 km to the south of Palopo.

The majority of historical activity has focused on the Mangkaluku Prospect. Previous work identified three principal mesothermal gold-bearing vein zones: Western, Central and Eastern Zones. Each zone contains multiple gold brearing quartz-sulphide veins with individual veins having strike-lengths up to 500m and varying between 0.5 and 5 metres in width.

Historical trenching intersected wide zones of significant gold mineralisation including;

• 18.1m @ 13.9 g/t Au
• 3.1m @ 8.2 g/t Au
• 18.0m @ 6.8 g/t Au
• 36.0m @ 6.8 g/t Au
• 9.0m @ 40.7 g/t Au
• 18m @ 9 g/t Au

Previous explorers completed 22 diamond drillholes widely spaced along each vein system (Figure 2). Significant intersections include:

• 8.4m @ 7.5 g/t Au
• 2.0m @ 9.7 g/t Au
• 6.0m @ 3.9 g/t Au
• 2.0m @ 115.0 g/t Au
• 11.0m @ 2.7 g/t Au
• 12.0m @ 3.5 g/t Au
• 2.0m @ 18.3 g/t Au

Currently, the company is active on four of its five Indonesian gold projects; drilling on the Tanoyan Gold Project, surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. All the projects have easy access via paved and/or gravel roads and the regional infrastructure is good.

This technical information contained in this release has been reviewed and approved by Mr. John Levings, B.Sc., FAusIMM, director of Reliance Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

Media Information, contact:
Scott Emerson, President
and Director
se@relianceresources.com

Investor Information, contact:
Mike Kordysz, Investor
Communications
mk@relianceresources.com

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Reliance Resources Limited Extension of Term of Warrants

VANCOUVER, Feb. 24, 2012 /CNW/ - Reliance Resources Limited (the "Company") (TSX:RI) wishes to announce that it has applied to the Toronto Stock Exchange (the "Exchange") and has received conditional approval to extend the terms of an aggregate of 2,250,000 common share purchase warrants (the "Warrants") which were issued pursuant to a brokered private placement (the "Private Placement") which closed on March 1, 2012 (250,000 of the Warrants were issued to the agent in consideration for services provided in connection with the Private Placement). Each Warrant entitles the holder to acquire one common share in the capital of the Company at an exercise price of $0.65 per common share until March 1, 2012.  No Warrants issued under the Private Placement have been exercised to date, and none of the Warrants are held, directly or indirectly, by any insiders of the Company. The Company has received conditional approval from the Exchange to extend the term of the Warrants for an additional year to March 1, 2013.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

For further information: Media Information, contact:
Scott Emerson, President
and Director
se@relianceresources.com 
Investor Information, contact:
Mike Kordysz, Investor
Communications
mk@relianceresources.com

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Reliance Resources hat der Ernennung von Andrew Wilson zum Director der Gesellschaft bekanntgegeben

Reliance Resources / TSX: RI / WKN: A1JSNG

„Dicken“ Zuwachs bekommt unser Goldtipp aus Indonesien. Reliance Resources hat der Ernennung von Andrew Wilson zum Director der Gesellschaft bekanntgegeben. Wilson war von 2000 bis 2008 President Director bei BHP Billiton Indonesia. Er ist also mit dem Land uns seinem Gepflogenheiten gut bekannt und dürfte sicher hervorragend „verdrahtet“ sein. Wir denken, dass er Reliance Resources wertvolle Dienste leisten wird.

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Update of Initial 43-101 Resource Report Underway on Tanoyan Gold Project, Indonesia

	January 24, 2012 Update of Initial 43-101 Resource Report Underway on Tanoyan Gold Project, Indonesia
	January 24, 2012 - Reliance Resources Ltd. (the "Company")(TSX:RI) is pleased to announce that it has retained Mining Associates (www.miningassociates.com) , an internationally recognized independent consulting firm, to prepare an updated NI 43-101 report on The Tanoyan Gold Project, North Sulawesi, Indonesia. This updated mineral resource estimation will include results from the recent Phase 1 program of diamond core drilling and geological mapping. The Phase 1 drilling program completed 5,041.8 meters of drilling in 44 holes. A total of 1753 drillcore samples were assayed by PT Intertek in their analytical facility in Jakarta, a part of their global network of state-of-the-art laboratories. (http://www.intertek.com/minerals/) Mining Associates is a specialist geological and mining consultancy based in Brisbane, Australia. With a newly opened Hong Kong office and associates around the world, they have a truly global presence and solid experience in Indonesia They are focused on providing the client with an understanding of the fundamental geological controls to add value to our project. It is this underlying framework that needs to be the basis for all further developments. The Company has a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia. The projects offer both exploration potential and an existing resource base. All five projects are adjacent to or along strike from operating gold mines or identified gold resources with similar geology and structural feature. The Company is active on four of its five Indonesian gold projects; currently preparing for the Phase 2 drill program on the Tanoyan Gold Project and surface exploration programs are being carried out on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and the regional infrastructure is good. Media Information, contact: Scott Emerson, President se@relianceresources.com Investor Information, contact: Mike Kordysz, mk@relianceresources.com The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
	You can view the Previous News Releases item: Wed Jan 18, 2012, Phase 1 Drill Program At Tanoyan Gold Project Successfully Completed

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