RiftValleyResourcesLimited(“RiftValley”or“Company”)(ASX:RVY) ispleasedto announce further encouraging assay results from the current drillingprogramme at its 100% owned Miyabi Gold Project in Tanzania. Initial(composite) assay results have been received from reverse circulation (RC)drillingatMiyabi.Highlightsinclude:-

ASXRelease

4October2016

ASXcode:“RVY”BoardofDirectors:

GeoffGilmourManagingDirectorGregCunnoldTechnicalDirectorGraemeClatworthyNon-ExecutiveDirectorAkramAzizNon-ExecutiveDirector

Tel+61892210090Fax+61892210095

ABN86121985395

MiyabiGoldProjectUpdate

• Geophysicalanomaly“Sid”hitsbroadzoneofhigh

gradegoldmineralization• MBRC449-18m@4.23g/tAufrom87m

Ø Including9m@8.01g/tfrom96mØ And3m@1.58g/tfrom138m

• Sidmineralizationiscontainedwithinabroadzoneof24m@3.21g/tAufrom84m

• ShambanidrillingconfirmsstrikeextensionØ MBRC447-3m@1.71g/tfrom15m

§ and9m@0.86g/tfrom66m§ and6m@5.03g/tfrom81m

Ø MBRC448-6m@1.45g/tfrom138m• NewProspectinglicenceissuedoverthearea

containingthecurrent704,000ozAuresource• Drillingcontinues

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Details

Ongoing RC drilling at the Company’s 100% owned Miyabi project has returned further significant goldintersections. Of note are the results from the Sid (IP) anomaly (Figure 1). This prospect was generated andcategorised as a high priority drill target from the recent data base migration and geophysical interpretationconductedbythecompany(ASX21.4.2016).Broad,strongtenorgoldmineralizationhasbeenreturnedandwillbethesubjectofimminentfollowupdrilling.

At theShambaniprospect,drillingtestedthewesternextentsofknowngoldmineralisation. Compositesamplesreturnedsignificant intersections, including6meters@5.03g/tAufrom81meters. ResultstodatesupportthetheorythatthetwodefinedmineralisedenvelopesdelineatedtodateatShambani,mayjoininafoldclosuretothewest.

Adrill-holelocationplandetailingthenewdrillinterceptsincontextwithpreviousdrillingandresourceenvelopes,ispresentedbelow(Figure2).CurrentMineralResourcesaretabulatedinTable1.AfulllistofnewdrillingresultsispresentedinTable2.

DrillingcontinuesatMiyabiwithextensionaldrillingatDalafumaandShambanibeingcarriedoutaswellasfollowupdrillingatSid.

NewLicence

Anewprospectinglicence,PL/10908/2016hasbeenissuedreplacingPL/11026/15(Figure3).Thelicenceisfora4yearperiodandisabletobeextendedforanadditional3yearsandafurther2yearsthereafter.

-ENDS-

Figure1–SidIPAnomalyF

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Figure2–GoldResourcesandRecentSignificantIntercepts

Deposit

Indicated Inferred Total

Mt g/t Mt g/t Mt g/t Ounces

Dalafuma 0.5 5.4 0.7 3.1 1.3 4.1 166,700Faida 3.3 1.4 2.2 1.2 5.6 1.3 241,100

Kilimani 2.7 1.3 1.0 1.4 3.7 1.3 156,700Ngaya 1.7 1.1 1.7 1.1 57,700

Shambani 0.5 1.8 1.6 1.0 2.1 1.2 81,300Total 7.1 1.7 7.3 1.4 14.3 1.5 703,500

Table1-MiyabiGoldProjectJuly2015MineralResourcesat0.5g/tAuCut-off

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Figure3-MiyabiGoldProjectTenementMap

COMPETENT PERSON STATEMENT We advise in accordance with Australian Stock Exchange Limited Listing Rules 5(6) that the exploration results contained within this report is based on information compiled by Mr. Greg Cunnold who is a member of the Australian Institute of Mining and Metallurgy. Mr Cunnold is a Director of Rift Valley Resources Ltd and has consented in writing to the inclusion in this ASX Release of matter based on the information so compiled by him in the form and context in which it appears. Mr Cunnold has sufficient experience relevant to the style of mineralisation and type of deposit under consideration to be qualified as a Competent Person as defined by the 2012 Edition of the “Australian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. The information in this report that relates to Mineral Resources for the Miyabi gold project is based on information compiled by Mr Paul Payne, a full time employee of Payne Geological Services and a Member of The Australasian Institute of Mining and Metallurgy. Mr Payne is a consultant to and a shareholder of Rift Valley Resources and 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Payne consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. All information relating to Mineral Resources was complies with the JORC 2012 reporting guidelines. It was previously reported in a release to the ASX dated 12 August 2015. The company confirms that that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply..

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Project Prospect SiteID East North RL Dip Azim Depth Depth Width AuPPMFrom To

Miyabi Shambani MBRC446 401500 9577832 1192 -55 315Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 15 18 3 1.71Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 66 69 3 1.9Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 81 87 6 5.03Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 72 75 3 1.58Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 105 108 3 1.49Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 141 144 3 2.19Miyabi Sid MBRC449 401702 9577539 1193 -55 315 96 105 9 8.01Miyabi Sid MBRC449 401702 9577539 1193 -55 315 138 141 3 1.58

Project Prospect SiteID East North RL Dip Azim Depth Depth Width AuPPMFrom To

Miyabi Chui MBRC445 401400 9577155 1186 -54.5 0 99 111 12 0.882Miyabi Shambani MBRC446 401500 9577832 1192 -55 315Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 15 18 3 1.71Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 66 75 9 0.86Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 81 87 6 5.03Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 72 75 3 1.58Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 99 117 18 0.627Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 138 144 6 1.45Miyabi Sid MBRC449 401702 9577539 1193 -55 315 87 105 18 4.23Miyabi Sid MBRC449 401702 9577539 1193 -55 315 138 141 3 1.58

Project Prospect SiteID East North RL Dip Azim Depth Depth Width AuPPMFrom To

Miyabi Chui MBRC445 401400 9577155 1186 -54.5 0 84 120 36 0.426Miyabi Shambani MBRC446 401500 9577832 1192 -55 315 54 60 6 0.265Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 6 18 12 0.563Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 42 45 3 0.37Miyabi Shambani MBRC447 401486 9577807 1192 -55 315 51 108 57 0.821Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 63 78 15 0.546Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 84 87 3 0.29Miyabi Shambani MBRC448 401519 9577777 1196 -55 315 93 153 60 0.456Miyabi Sid MBRC449 401702 9577539 1193 -55 315 84 108 24 3.211Miyabi Sid MBRC449 401702 9577539 1193 -55 315 117 144 27 0.319

MiyabiSignificantIntercepts2016Drilling:>1.0ppmAu

MiyabiSignificantIntercepts2016Drilling:>0.5ppmAu

MiyabiSignificantIntercepts2016Drilling:>0.25ppmAu

Table 2 – Significant Intercepts

InterceptSchemeParameters

LowerCutoff 0.5ppmAu

UpperCut None

MinimumGradeofintercept: 0.5ppmAu

MinimumWidthofIntercept: 1m

DownholeWidthsreported

Max.ContiguousWaste 3m

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APPENDIX–JORCTABLE3

ThefollowingTableandSectionsareprovidedtoensurecompliancewiththeJORCCode(2012)editionrequirementsforthereportingofexplorationresultsandMineralResources.

Section1SamplingTechniquesandData

Criteria JORCCodeexplanation Commentary

Samplingtechniques

• Nature and quality of sampling (eg cut channels,randomchips,orspecificspecialisedindustrystandardmeasurementtoolsappropriatetothemineralsunderinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc). These examplesshouldnotbe takenas limiting thebroadmeaningofsampling.

• Includereferencetomeasurestakentoensuresamplerepresentivity and the appropriate calibration of anymeasurementtoolsorsystemsused.

• AspectsofthedeterminationofmineralisationthatareMaterialtothePublicReport.Incaseswhere‘industrystandard’workhasbeendonethiswouldberelativelysimple (eg ‘reverse circulation drilling was used toobtain1msamplesfromwhich3kgwaspulverisedtoproducea 30g charge for fire assay’). In other casesmore explanation may be required, such as wherethere is coarse gold that has inherent samplingproblems. Unusual commodities or mineralisationtypes (eg submarinenodules)maywarrantdisclosureofdetailedinformation.

• Resultshavebeenreceivedfromreversecirculation(RC)drillholes

• Holes were generally angled to optimally intersectthemineralisedzones;

• DryRCsampleswerecollectedandweighedfromafree standing cyclone in one metre intervals andsplitusingamultistagerifflesplitter.

• Below thewater table, holeswere blown dry aftereach rod change to minimize down holecontaminationanddrysampleswereobtained;

• Samples were composited into 3m intervals forassay and anomalous intervals subsequentlyresubmittedat1mintervals.

Drillingtechniques

• Drill type (eg core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc)anddetails(egcorediameter,tripleorstandardtube,depth of diamond tails, face-sampling bit or othertype, whether core is oriented and if so, by whatmethod,etc).

• RCdrillingusedafacesamplingbit;

Drillsamplerecovery

• Method of recording and assessing core and chipsamplerecoveriesandresultsassessed.

• Measures taken to maximise sample recovery andensurerepresentativenatureofthesamples.

• Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarsematerial.

• Samples were weighed to monitor recoveries.Recovery throughout the programme wassatisfactory;

• There is no known relationship between samplerecoveryandsamplegrades.

Logging • Whethercoreandchipsampleshavebeengeologicallyand geotechnically logged to a level of detail tosupport appropriate Mineral Resource estimation,miningstudiesandmetallurgicalstudies.

• Whether logging is qualitative or quantitative innature.Core(orcostean,channel,etc)photography.

• The total length and percentage of the relevant

• Alldrillholeswereloggedinfull.• Logging is carried out in detail in anticipation of

being used in subsequent Mineral Resourceestimates.

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Criteria JORCCodeexplanation Commentary

intersectionslogged.

Sub-samplingtechniquesandsamplepreparation

• Ifcore,whethercutorsawnandwhetherquarter,halforallcoretaken.

• Ifnon-core,whetherriffled,tubesampled,rotarysplit,etcandwhethersampledwetordry.

• For all sample types, the nature, quality andappropriatenessofthesamplepreparationtechnique.

• Quality control procedures adopted for all sub-samplingstagestomaximiserepresentivityofsamples.

• Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second-halfsampling.

• Whethersamplesizesareappropriatetothegrainsizeofthematerialbeingsampled.

• DryRCsampleswerecollectedfromafreestandingcycloneinonemetreintervalsandsplitusingamultistagerifflesplitter.

• Below thewater table, holeswere blown dry aftereach rod change to minimize down holecontaminationandnowetsampleswerecollected;

• 3mcompositesampleswerefireassayedattheSGSlaboratory in Mwanza. Samples from anomalousintervalswillbere-assayedon1meterintervals;

• A comprehensive QAQC program of standards,blanks and duplicates has been used to confirmassayintegrity;

• Samplesizesareconsideredappropriatetocorrectlyrepresentthegoldmineralisationbasedon:thestyleof mineralisation, the thickness and consistency ofthe intersections, the sampling methodology andassayvaluerangesforAu.

Qualityofassaydataandlaboratorytests

• The nature, quality and appropriateness of theassayingandlaboratoryproceduresusedandwhetherthetechniqueisconsideredpartialortotal.

• For geophysical tools, spectrometers, handheld XRFinstruments, etc, the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation,etc.

• Nature of quality control procedures adopted (egstandards, blanks, duplicates, external laboratorychecks)andwhetheracceptable levelsofaccuracy (ielackofbias)andprecisionhavebeenestablished.

• Samples were assayed for gold using fire assay bySGSinMwanza,Tanzania;

• The analytical techniques used approach totaldissolutionofgoldinmostcircumstances.

• Comprehensive QAQC programs of standards,blanksandduplicateswereincorporatedtoconfirmassayintegrity;

Verificationofsamplingandassaying

• The verification of significant intersections by eitherindependentoralternativecompanypersonnel.

• Theuseoftwinnedholes.

• Documentation of primary data, data entryprocedures, data verification, data storage (physicalandelectronic)protocols.

• Discussanyadjustmenttoassaydata.

• No independent verification of significantintersectionshasbeencarriedout.

• Primary data was collected on manual loggingsheets. This has allowed RVY personnel to verifydatabaserecordsbycomparingtooriginallogs.

• Therehasbeennoadjustmenttoassaydata.

Locationofdatapoints

• Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkingsandotherlocationsusedinMineralResourceestimation.

• Specificationofthegridsystemused.

• Qualityandadequacyoftopographiccontrol.

• Drill hole collar coordinates used UTM Arc-1960datumwithtransformstovariouslocalgrids.

• Hand-heldGPShasbeenusedforcollarsurvey.• Topographiccontrol is fromdrillholecollarsurveys

andDGPStraverses.

Dataspacinganddistribution

• DataspacingforreportingofExplorationResults.

• Whetherthedataspacinganddistributionissufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) and

• RC hole spacing is nominally 50m by 50m in thecurrentdrillingprogram;

• ThereporteddrillinghasnotyetbeenincludedinaMineralResourceestimate;

• Preliminarysampleswerebasedon3mcomposites.The anomalous intersections will be re-assayed at

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Criteria JORCCodeexplanation Commentary

classificationsapplied.

• Whethersamplecompositinghasbeenapplied.

1mintervals.

Orientationofdatainrelationtogeologicalstructure

• Whether the orientation of sampling achievesunbiased sampling of possible structures and theextenttowhichthis isknown,consideringthedeposittype.

• Iftherelationshipbetweenthedrillingorientationandthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshouldbeassessedandreportedifmaterial.

• Holes were generally angled to grid south or gridnorth to optimize the intersection angle with theinterpretedsubverticalstructures;

• No orientation based sampling bias has beenidentifiedinthedata.

Samplesecurity • Themeasurestakentoensuresamplesecurity. • Samples are placed into bulk bags on site thentransported to the laboratory by companypersonnel;

Auditsorreviews • The results of any audits or reviews of samplingtechniquesanddata.

• AreviewofsamplingprocedureswascompletedonsitebytheCompetentPerson;

• Assayingwascarriedoutbyreputable,independentcompaniesusingindustrystandardmethods.

Section2ReportingofExplorationResults

Criteria JORCCodeexplanation Commentary

Mineraltenementandlandtenurestatus

• Type,referencename/number,locationandownershipincluding agreements or material issues with thirdpartiessuchasjointventures,partnerships,overridingroyalties, native title interests, historical sites,wilderness or national park and environmentalsettings.

• Thesecurityofthetenureheldatthetimeofreportingalong with any known impediments to obtaining alicensetooperateinthearea.

• TheMiyabiprojectcomprisesaseriesofProspectingLicences and applications. All main prospects arelocatedwithinPL/10908/2016whichis100%ownedbyRVY;

• All other areas of the project are owned 100% byRVYor RVYhas ongoing entitlement to the groundthroughaccessagreements.

Explorationdonebyotherparties

• Acknowledgmentandappraisalofexplorationbyotherparties.

• The majority of previous work completed at theprojectwascarriedoutbyTwiggGold(subsidiaryofAfrican Eagle Resources plc) between 2000 and2008;

• AsmallamountofworkwascompletedbyRandGoldunderJV.

Geology • Deposit type, geological setting and style ofmineralisation.

• TheMiyabi gold project comprises a series of shearhosted,mesothermal ore bodies located in the LakeVictoriaGoldfieldsofTanzania;

• Gold is typically disseminated through altered hostrocks with some high grademineralisation in quartzveins.

• Weathering toadepthof40-80moccurs throughoutmuchoftheprojectarea;

• A thin but laterally extensive veneer of laterite andtransportedferricreteoccursacrossthedepositarea.F

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Criteria JORCCodeexplanation Commentary

Drillholeinformation

• A summary of all information material to the under-standing of the exploration results including atabulationofthefollowinginformationforallMaterialdrillholes:

• eastingandnorthingofthedrillholecollar

• elevationorRL(elevationabovesealevelinmetres)ofthedrillholecollar

• dipandazimuthofthehole

• downholelengthandinterceptiondepth

• holelength

• If the exclusion of this information is justified on thebasis that the information is not Material and thisexclusion does not detract from the understanding ofthereport,theCompetentPersonshouldclearlyexplainwhythisisthecase.

• Current drill hole locations are tabulated in thisreport.

• IntersectionsfromthecurrentprogramareshowninTable2ofthisreport.

Dataaggregationmethods

• InreportingExplorationResults,weightingaveragingtechniques,maximumand/orminimumgradetruncations(e.g.cuttingofhighgrades)andcut-offgradesareusuallyMaterialandshouldbestated.

• Whereaggregateinterceptsincorporateshortlengthsofhighgraderesultsandlongerlengthsoflowgraderesults,theprocedureusedforsuchaggregationshouldbestatedandsometypicalexamplesofsuchaggregationsshouldbeshownindetail.

• Theassumptionsusedforanyreportingofmetalequivalentvaluesshouldbeclearlystated.

• Length weighting of assay results has been usedwheresamplesofunevenlengthwerepresent;

• Nogradetruncationshavebeenusedwhenreportingsignificantintersections.

• Metalequivalentvaluesarenotbeingreported.

Relationshipbetweenmineralisationwidthsandinterceptlengths

• These relationships are particularly important in thereportingofExplorationResults.

• If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.

• If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect(e.g.’downholelength,truewidthnotknown’).

• Drill holes are angled to grid south or grid north,which is approximately perpendicular to theorientationofthemineralisedtrend.

• Down hole length is approximately equivalent totruewidth.

Diagrams • Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported. These shouldinclude, but not be limited to a plan viewof drill holecollarlocationsandappropriatesectionalviews.

• Relevant diagrams have been included within themainbodyoftext.

BalancedReporting

• Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkingsandotherlocationsusedinMineralResourceestimation.

• Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoidmisleading reporting of ExplorationResults.

• DrillholecollarcoordinatesusedUTMArc-1960datumwithtransformstovariouslocalgrids.

• RVYusedhand-heldGPSforcollarsurvey.• All holes in the current program have been

down hole surveyed using a Reflex single shotelectroniccamera.

• SignificantintersectionstodatefromthecurrentprogramareincludedinTable2.

Othersubstantiveexplorationdata

• Other exploration data, if meaningful and material,should be reported including (but not limited to):geological observations; geophysical survey results;geochemical survey results; bulk samples - size andmethod of treatment; metallurgical test results; bulkdensity, groundwater, geotechnical and rock

• ExtensivepreviousexplorationhasbeenreportedininpreviousreleasestotheASX.

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Criteria JORCCodeexplanation Commentary

characteristics; potential deleterious or contaminatingsubstances.

Furtherwork • The nature and scale of planned further work (e.g.tests for lateral extensions or depth extensions orlarge-scalestep-outdrilling).

• Diagrams clearly highlighting the areas of possibleextensions, including the main geologicalinterpretationsandfuturedrillingareas,providedthisinformationisnotcommerciallysensitive.

• The RC drilling programme is continuing at theproject;

• Commerciallysensitive

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