Suite 2000 � 1177 West Hastings Street,
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
Toll Free: 1-877-662-8184
www.redhill-resources.com
RHR: TSX-V
October 12, 2011
Redhill Receives AUD$2,000,000 Payment from Mutiny Gold
Redhill Resources Corp. (RHR: TSX-V), (�Redhill� or �the Company�) is pleased to announce that the Company is in receipt of AUD$2,000,000 payment from Mutiny Gold Ltd. (�Mutiny�) due on or before October 31, 2011.
Under the acquisition agreement (the �Agreement�) dated July 20th, 2010, Mutiny has the right to purchase 70% of the Gullewa Gold Project by scheduled payments totaling AUD$9,000,000.
Mutiny has paid a total of AUD$9,000,000 to date, and has now fulfilled it�s obligation to earn 70% under the Agreement.
Upon earning a 70% interest in the Gullewa Gold Project, Mutiny may elect to enter into a 70/30 joint venture agreement with the Company or it may acquire a further 30% interest by completing a positive feasibility study on the Gullewa Gold Project and by paying to Redhill an additional AUD$4,000,000. If Mutiny so elects, it will have acquired 100% of the Gullewa Gold Project and Redhill will retain a 10% net profit interest.
To find out more about Redhill Resources Corp., please contact investor relations at 604-662-8184 or email investor@redhill-resources.com. You may also visit our website at www.redhill-resources.com.
REDHILL RESOURCES CORP.
�Graham Harris�
Graham Harris
Chairman
�The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.�
�This news release may contain forward�looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.�