Redhill Signs Contract to Conduct IP Survey on the Aspen Properties

Redhill Resources Corp., (TSX VENTURE:RHR), ("Redhill" or the "Company") is
pleased to provide an update on its recent activities. Over the last few months,
the Company has been accumulating land in northern British Columbia,
approximately 100 kilometers south-southwest of Vanderhoof, British Columbia in
the Blackwater area of the Nechako Plateau region. The Blackwater area of the
Nechako Plateau continues to be a focal point of exploration for many companies
due to the recent discovery of a world class gold-silver deposit by New Gold
Inc.


The Company optioned property on August 1, 2012 from Decade Resources Ltd and
Mountain Boy Minerals Ltd. for two land packages - Blackwater East and
Blackwater North. On September 20, 2012 the Company entered into an agreement
with Ronald Bilquist for the Chutanli Property which adjoins the Blackwater East
Property to the north. On October 12, 2012 the Company entered into an option
agreement with Jared Henrickson for the Aspen Claims which adjoin the Chutanli
Property to the north. 


Collectively, the entire land package optioned by Redhill in the region now
surpasses 29,100 hectares. 


For clarity in reporting, Redhill now refers to all of its optioned claims in
the region as the Aspen Properties (the "Aspen Properties") consisting of two
land packages, Aspen West and Aspen East. Please refer to the attached map
(Figure 1: http://media3.marketwire.com/docs/1114rhr_figure1.jpg) of the Aspen
Properties which can also be found on the Company's website
www.redhill-resources.com.


The Aspen West property is strategically located adjacent to properties hosting
the Chu molybdenum deposit (TTM Resources Inc.) and 15 kms northeast of the
Blackwater gold-silver deposit (New Gold Inc.). The Aspen West property is also
located 26 kms northeast of the Capoose silver-gold deposit (New Gold Inc.). 


Most of the Aspen East and some parts of Aspen West property are underlined by
middle to upper Jurassic volcanic and sedimentary rocks of Hazelton Group
intruded by felsic intrusive rocks of Late Cretaceous to Terciary age, the same
geological setting present at New Gold's Inc.'s Blackwater deposit. 


Exploration Update

In September and October 2012 the Company completed a reconnaissance sampling
program over the Aspen Properties. In total, 52 rock, 96 soil, 121
biogeochemical (trees) and 8 silt samples were collected. Initial results are
encouraging, identifying three new IP target areas. 


The Company has engaged the services of Peter E. Walcott & Associates Limited to
conduct an IP survey of 58.7 km of IP lines on the Aspen Properties, covering 4
target areas.  


Three targets areas will be surveyed over the Aspen East Property, including one
that hosts a large portion of the historic CH claims. The fourth target area is
on the Aspen West Property. 


The northern target of the Aspen East property is known to host lead, zinc,
copper, molybdenum, silver and gold porphyry style mineralization (historic CH
claims). Mineralization has been identified over 1.5 kilometres along the
contact of a granodiorite intrusion, primarily by anomalous soils collected by
Placer Dome in 1991. 


Historic soil sampling by Placer Dome on the northern part of the Aspen East
Property returned over 1170 ppm copper, up to 1310 ppb gold, up to 2320 ppm
lead, and up to 909 ppm zinc. Silver is also highly anomalous in several
samples, assaying between 5 and 30 ppm. Other than soil sampling, Placer Dome
also did a limited magnetometer survey on the property, but no IP or drilling
had been done. 


The IP survey should be completed by December 31, 2012

Tanzanian Update

As previously announced September 24 2012 Geonovus signed an option agreement
with Redhill to acquire all of Redhills interest in the The Nyakagwe Properties.
The Nyakagwe Properties consist of forty-six primary mining licenses (PML's),
and one prospecting license (PL) encompassing a combined area of approximately
500 hectares in the prolific lake Victoria Greenstone belt. GeoNovus has a
period of 60 days from the date hereof in which to carry out its due diligence.
At the present time it is expected that this transaction will complete within
the 60 days. In addition to GeoNovus being satisfied with the results of its due
diligence, the dispostion is subject to Redhill and GeoNovus entering into a
definitive agreement and acceptance for filing by the TSX Venture Exchange on or
before November 30, 2012. 


Mutiny Gold Ltd. Update

Redhill currently holds 40,000,000 shares of Mutiny Gold Ltd. (ASX:MYG). Mutiny
Gold Ltd recently announced positive results from its Definitive Feasibility
Study on the Deflector Copper-Gold Project. (Refer to Mutiny's Gold's Ltd. ASX
press release dated Oct 22, 2012). The value of these shares combined with the
current cash position gives the Company adequate working capital to fund ongoing
exploration.


This news release has been reviewed by Brent Butler, Director, and a Qualified
Person as that term is defined in NI 43-101.


REDHILL RESOURCES CORP.

Graham Harris, Chairman

"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."


FOR FURTHER INFORMATION PLEASE CONTACT: 
Redhill Resources Corp.
Investor Relations
[phone]
[e-mail]
www.redhill-resources.com