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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