SYDNEY, Australia, May 29, 2012 /CNW/ – RMB Resources Limited, as
Trustee for Telluride Investment Trust (collectively, “RMB”), is
pleased to announce that it acquired by way of a private placement
25,000,000 units (“Units”) of Highland Resources Inc. (TSX-V: HI) (the
“Corporation”) at a price of $0.08 per Unit for aggregate consideration
of $2,000,000. Each Unit consisted of one common share of the
Corporation (each, a “Common Share”) and one transferable Common Share
purchase warrant (each, a “Warrant”).

RMB believes that, after giving effect to this subscription, the Common
Shares held by RMB represent approximately 10.91% of the issued and outstanding Common Shares of the Corporation. If RMB
were to exercise all of the Warrants issued by the Corporation and held
by it, it would hold 50,000,000 Common Shares, representing
approximately 19.67% of the issued and outstanding Common Shares of the Corporation,
calculated on a partially-diluted basis assuming the exercise of the
Warrants referenced above only.

The securities were acquired pursuant to a previously announced private
placement. RMB subscribed for the Units for investment purposes and
reserves the right, depending on the circumstances, including market
and other conditions, to make further purchases or disposals of
securities in the future through market transactions, private
agreements, treasury issuances, exercise of options, convertible
securities or otherwise.

About RMB

RMB is a wholly-owned unit of the Rand Mercant Bank division of
FirstRand Bank. The registered office of RMB is Level 13, 60
Castlereagh Street, Sydney, NSW, Australia.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

SOURCE RMB Resources Ltd.