Mutiny Pays Redhill AUD$4,000,000 and 40,000,000 Shares

Redhill Resources Corp. (TSX VENTURE:RHR), and its wholly owned subsidiary, ATW
Gold Corp Australia Pty Ltd. ("Redhill" or the "Company"), report that Mutiny
Gold Ltd (ASX:MYG) ("Mutiny") has completed the acquisition of the Gullewa Gold
Project.


On October 24, 2011 the Company reported that Mutiny elected to earn a further
30% (aggregate 100%) interest in the Gullewa Gold Project by paying Redhill's
wholly owned subsidiary, ATW Gold Corp Australia Pty Ltd ("ATW Australia") a sum
of AUD$4,000,000 and a 10% net Profit Interest Royalty (the "Royalty").


The AUD$4,000,000 payment was received by the Company on December 15, 2011.

As well, ATW Australia and Mutiny entered into a Deed of Variation whereby
Mutiny acquired the 10% Royalty for a consideration of 40,000,000 ordinary
common shares (the "shares") to ATW Australia. The shares are subject to a 15
month escrow period.


Background

The Gullewa Project is located 450 kilometres north of Perth, in the Yalgoo
mineral fields of Western Australia. The Gullewa Project is a 550 sq kilometre
property that hosts several gold deposits of various size and grade, the most
significant being the Deflector gold-copper deposit which contains resources
(Table 1) as disclosed in Table 3.1 to the NI 43-101 Technical Report on the
Gullewa Gold-Copper Project dated June 13, 2008 as filed on SEDAR on June 18,
2008. Mining infrastructure assets at the Gullewa Project include a 800 tonne
per day CIL plant, a licensed tailings disposal facility, a 50-person camp,
offices, and workshops.




Table 1 - Deflector Deposit Resources

Mineral Resource Estimate for the Deflector Deposit above a 1.0 g/t AuEq
Grade Cut-Off (1.0% Cu = 2.5 g/t Au)

---------------------------------------------------------------------------
                                   Au       Au    Cu      Cu    Ag       Ag
Classification          Tonnes   (g/t)     (oz)   (%)     (t) (g/t)     (oz)
---------------------------------------------------------------------------
Measured             1,040,000    4.6  150,000  1.34  14,000   8.7  290,000
Indicated            1,060,000    5.7  190,000  0.79   8,400   5.9  200,000
Measured +                                                                 
 Indicated(i)        2,100,000    5.2  350,000   1.1  22,000   7.3  490,000
Inferred             1,300,000    4.5  180,000   0.5   6,000   3.2  130,000
---------------------------------------------------------------------------
Totals               3,400,000    4.9  530,000  0.85  29,000   5.7  620,000
---------------------------------------------------------------------------
(Metallurgical recoveries and net smelter returns are assumed to be 100%)



Graham Harris, Chairman, comments, "The closing of this transaction provides
Redhill with a strong cash position. This combined with its equity interest in
Mutiny will give the Company the ability to acquire and advance future
projects."


The Company would also like to report the grant of 1,800,000 incentive stock
options to certain directors, officers, employees and consultants of the Company
at a price of $0.10 per common share, exercisable for a 5 year period.


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, 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."

Redhill Resources Corp. (TSXV:RHR)
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