Red Crescent Resources is a junior mining company focused on zinc, lead, and copper projects in Turkey. It holds three main projects - the Hakkari Zinc Project, Sivas Copper Project, and Tufanbeyli Zinc Project. Red Crescent completed an initial resource estimate for Hakkari and aims to expand resources at all three projects through ongoing exploration. The company seeks to become a low-cost base metal producer in Turkey within five years. Red Crescent recently raised funds and acquired additional projects, positioning it for growth through exploration and potential future production.

1. investorSCOREcard
Mining Stock Report as of Jul 25, 2011
Red Crescent Resources (RCB-T)
Toronto, ON, Canada
Share Price $0.45 Market Cap (Mil) $37.17
52 Week High $0.85 Cash (Mil) $2.63
52 Week Low $0.29 Debt & Preferreds (Mil) -$0.02
Avg Vol Last 3 mos. (000's) 41.80 Enterprise Value (Mil) $34.53
Basic Shares Outstanding (Mil) 82.60 Dividend Yield 0.0%
Diluted Shares Outstanding (Mil) 82.56 P/E (TTM) NA
Stock Price and Volume Business Description Source: Morningstar
Red Crescent Resources' business objective is to secure,
350,000 $0.90 consolidate and grow its portfolio of base metal opportunities
in Turkey, including zinc & lead, copper and manganese and
$0.80
300,000 to rapidly progress these up the value curve to production.
$0.70
250,000
$0.60
Stock Price
200,000
Volume
$0.50
150,000 $0.40
$0.30
100,000
$0.20
50,000
$0.10
- $-
N D J F M A M J J
2010 2011
Comparables
Scorecard Highlights AQA-T
Ratings Out of Possible 5 Stars DON-V
ZNC-T
Quarter Ending Mar 11 Quarter Ending Dec 10
Stock Market Performance
2.5 1.8 2.4
Insider Ownership
4.0 4.0 Not Provided
Resource Assessment
3.4 0.8 Not Provided
Balance Sheet Analysis
4.2 3.6 3.6
Valuation
1.9 2.1 3.0
© 2011 The Equicom Group Inc. All rights reserved. The Investor Scorecard is exclusively distributed by TMX Equicom. To learn more visit www.tmxmoney.com/scorecard
For a full description of the methodology used, refer to www.fsavaluation.com/scorecardinformation.aspx
Please see the final page(s) of this Investor Scorecard for important disclosure and disclaimer information.

2. investorSCOREcard
Red Crescent Resources (RCB-T)
Business Description
Red Crescent Resources (TSX: RCB) is a junior mining company based in Turkey. The Company is applying
modern exploration techniques and technology to previously inaccessible areas that have been identified as having a
high potential of base metal deposits, notably zinc, lead and copper.
Red Crescent’s current focus is to complete the exploration and development of its three main assets:
- Hakkari Zinc/Lead Project.
- Sivas Copper Project.
- Tufanbeyli Zinc Project.
Red Crescent’s long-term strategy is to acquire and consolidate regionally-diversified projects in Turkey and become a
low-cost producer with world-class assets within five years.
Overview of Projects
Red Crescent currently holds a portfolio of properties in areas in Turkey with very significant mining potential, a
country with a favorable investment climate and a generally under-explored mining history.
Hakkari Zinc Project
The Hakkari Zinc Project was the Company’s first acquisition in 2009 and remains a focal point of current and planned
activity. Hakkari province is a large, previously unexplored but informally mined area exhibiting high-grade, mainly
tabular MVT style zinc and lead oxide deposits, indicator anomalies for significant Copper mineralization and massive
manganese mineralization. Hakkari is located in the south-east corner of Turkey. The Hakkari Zinc Project is a joint
venture owned by Red Crescent Resources and Seyitoglu, one of the major families in the area.
Red Crescent announced an initial independent National Instrument 43-101 compliant Mineral Resource Estimate for
Hakkari in February 2011. Highlights of the report include:
 Potential mineralisation of between 80 and 100 million tonnes at a grade of between 20% and 30%.
Zinc/Lead/Silver (Zn equivalent) at Hakkari within an approximate 80km strike (>52 000 Ha) of contiguous
and adjacent tenements.
 The reported estimate covers only 1% of the area of known zinc mineralisation held under licence by Red
Crescent and only the oxide mineralization potential. The known sulphide mineralization has yet to be fully
examined, but it is believed to be equally as significant at depths of between 150 metres below surface
(MBS) and 400 MBS.
 The report was based on drilling in a short season (2,300m in 2 months) with use of existing and restricted
access.

3. investorSCOREcard
Red Crescent Resources (RCB-T)
 Metallurgical test work on the mineralised samples harvested proves high grade concentrate can be produced
and first 20tph Concentrator to be commissioned in August 2011.
 2011 Drilling campaign launched in Q2 2011 and is expected to total 10,000 metres for expanding the
resource estimate to >10 million tonnes @ +15% zinc equivalent.
Sivas Copper Project
Red Crescent recently acquired the rights to the Sivas Copper Project, which is located in northeast-central Turkey.
Key highlights include:
 Progress and Milestones Rights to Sivas Copper Project were previously held by Falconbridge/Noranda, who
also completed extensive investigation and exploration activities.
 Historical exploration using geochemical, geophysical, surface mapping & sampling and drilling realized data
results indicating a high potential for delineation of potentially significant and economic mineralization.
 Historical drilling results indicated an estimated potential of 100 million tones of mineralized material at
grades greater than 2.74% Cu and an additional 200 million tones at grades higher than 1.98% Cu
 Falconbridge/Noranda relinquished its rights to the Project due to un-related merger activities and depressed
market conditions at the time.
 Red Cresecent completed its due diligence activities and acquired 75% of the project and management
control of all related activities within a new subsidiary JV Co called RCR Quantum A.S. Red Crescent will be
executing a diamond core and reverse circulation drilling program for 15000m beginning in July of 2011 to
prove up estimate grades reported historically.
 Red Crescent obtained full funding support for the SIVAS project via the signing of a deal with Johannesburg
(JSE) and London (AIM) listed miner PETMIN Limited. PETMIN made a strategic equity investment into Red
Cresecent of $4.6m for 10.1% of the TSX listed companies equity and also has signed an “earn-in”
agreement detailing milestone based expenditures of $17m over three years at SIVAS. This will take the
project to completion of a pre-feasibility study by 2014.
Tufanbeyli Zinc Project
Red Crescent recently acquired 100% of the rights to the Tufanbeyli Zinc Project, which is located in south-central
Turkey. The project was acquired in concert with the Company’s strategy to diversify the location of its assets
throughout Turkey as well as holding at least one significant asset fully unencumbered, i.e. without a local equity
partner. Key highlights of Tufanbeyli Project include:
 200,000 tons have been historically mined at 23% zinc.
 2,500 hectares have been explored.

4. investorSCOREcard
Red Crescent Resources (RCB-T)
 12,500 metres (reverse circulation and diamond core) drilling programs completed and a non-compliant
indicated and inferred resource of 3m tonnes @ 10% Zinc was defined.
 Mining licenses in place for more than 6,000 hectares.
 NI 43-101 compliant resource estimate based upon the drilling expected to verify the resource in Q2 2011.
 A 2006 NI43-101 completed for previous owners defined potential for +20 million tons of zinc oxide
mineralization at 10% zinc. Red Crescent will accordingly be drilling a further 5000m (infill and step out) to
further extend the compliant resource by end of 2011.
 Mining and concentrate production planned in Q3/Q4 2011.
Progress and Milestones
 Completed a preliminary 43-101 compliant zinc oxide resource estimate for Hakkari Zinc Project in Q2
2011.
 Zinc sulphide anomalies highlighted beneath the oxides at +150m dbs.
 Closed acquisition of Sivas Copper Project in Q2 2011.
 Secured $4.6 million equity financing from Petmin, a listed South-African Miner of Anthracite &
Infrastructure commodities.
 Increased its land holdings in the Hakkari Region of Turkey to >65,000 hectares.
 Acquired a 75% interest & management control in the Sivas Copper Project located in central Turkey.
 Acquired 100% of Tufanbeyli Zinc Project
 Interim and partial results of chemical assays of Hakkari Zinc Project confirmed initial grade profiles and
confirmed presence of economic precious metal grades of silver.
 Small scale mining and processing of ores will begin second half of 2011, generating cash flow, meeting
conditions precedent in the Hakkari DA, and generating full scale metallurgical performance results for the
Hakkari and Tufanbeyli Zinc oxide ores.
Investment Highlights
 Red Crescent’s strategy is to acquire, consolidate and grow base metal projects in Turkey.
 Turkey is among the world’s fast-growing economy and a bridge between the West and East.
 Red Crescent is targeting historically inaccessible projects where no modern exploration or technology has
been applied.
 Red Crescent has very strong relationships with local stakeholders.

5. investorSCOREcard
Red Crescent Resources (RCB-T)
 Operations are located in a favorable tax environment with strong investment incentives.
 Primary focus is very high grade Hakkari Zinc, Sivas Copper and Tufanbeyli Zinc projects.
 Experienced management team in place.
 Long-term objective is to become a low-cost producer with world-class assets.
Management
Alan Clegg
Executive Chairman and CEO
Rick Giel
Chief Financial Officer
Douglas Taylor
Project Director & General Manager of Sivas Project
Muhannad Arar
Project Director and General Manager of Hakkari and Tufanbeyli Projects
Uygar Saylam
Project Manager
Comparables
Aquila Resources Inc. - AQA-T
Donner Metals Ltd. – DON-V
Zincore Metals Inc. - ZNC-T

6. investorSCOREcard
Red Crescent Resources (RCB-T)
Stock Market Performance Rating 2.5
Stock Market Returns 350,000 $0.90
$0.80
Return Percentile Rating 300,000
Three Months  1% 56% 2.8 $0.70
Six Months  (23.7%) 19% 0.9 250,000
Stock Price
$0.60
1 Year  32% 84% 4.2
Volume
3 Years (CAGR)  (3.5%) 41% 2.1 200,000 $0.50
5 Years (CAGR) $0.40
150,000
$0.30
Market Data 100,000
Price $0.45 $0.20
Mkt Cap (Mil) $37.17 50,000
$0.10
Shs Outstanding (Mil) 82.60
Dividend Yield % 0.0% - $-
Avg Vol Last 3mos. (000's) 41.80 N D J F M A M J J
P/E (TTM) NA 2010 2011
Insider Ownership Rating 4.0
Value of Shares and Options Percent of Ownership
Shares Options Total Value Rating Percent Rating 58.5% Insiders
* Adjusted 8.9% 2.6% > 10% Holders
# of # of $ Value if Adjusted $
$ Value $ Value if Rating Percent of Rating 38.9% Other
Shares Options Exercised Value
Exercised (Add all) Mkt. Value (Add all)
Alan Clegg 58.5%
33,256,034 $14,965,215 - $0 $0 $14,965,215 4.0 40.3% 5.0
CEO 2.6%
- $0 - $0 $0 Jul-11
May-11
Other Officers
14,130,534 $6,358,740 5,000 $2,250 $1,125 $6,359,865 2.5 17.1% 3.4 Mar-11
Board of Directors & Other Jan-11
Executives (excl. CEO)
388,280 $174,726 1,020,265 $459,119 $229,560 $404,286 0.2 1.1% 0.2
Nov-10
> 10% Holders Sep-10
2,125,000 $956,250 - $0 $0 $956,250 2.6% 0.5
(For info only)
Jul-10
Total (excl. >10% Holders) $22,454,932 $461,369 $230,685 $22,685,616 4.0 58.5% 4.0
-50% 0% 50% 100%
(Max of 4) (Max of 4)
CEO CFO
Other Officers Directors
> 10% Holders Public Float
* Adjusted $ Value of Options is 50% of their full value if exercised to account for volatility. Furthermore, our view is that shareholders would rather management owned shares vs. options
Add: Compensation Type
Category Rating Addition Percent of Compensation
Share and Total Perform- Share and
Salary Perform- Unit Option All Other Comp. ance Unit Option
ance Bonus Awards Awards Comp. Bonus Awards Awards
Alan Clegg 0.0% Salary
$0
CEO Bonus
Shares & Units
Options
All Other
Total $0 $0 $0 $0 $0 $0 0.00 0.00 0.00
(Max Score)
Bonus: Net Buying/Selling Last Six Months
Insider Holdings Beginning and Ending Value
Transactions
Adjusted Share and
$30,000,000
Rating $25,000,000
Option Value
Buying Selling Net Bonus
$20,000,000
$15,000,000
Alan Clegg, CEO $0 $0 $0 0.00
, $0 $0 $0 0.00 $10,000,000
Other Officers $0 $3,086,734 ####### 0.00 $5,000,000
Board of Dir. (excl. CEO & CFO) $0 $0 $0 0.00
$-
> 10% Holders (info only) $0 $0 $0
Total (excl. >10% Holders) $0 $3,086,734 ####### 0.00 (Total Score) Beg Trans- Ending
Value actions Value

7. investorSCOREcard
Red Crescent Resources (RCB-T)
Resource Assessment Rating 3.4
Assessment Phase
Hakkari Compliant
80,000 80,000 80,000 80,000 80,000
70,000 70,000 70,000 70,000 70,000
60,000 60,000 60,000 60,000 60,000
50,000 50,000 50,000 50,000 50,000
40,000 40,000 40,000 40,000 40,000
70,780
30,000 30,000 30,000 30,000 30,000
20,000 20,000 20,000 20,000 20,000
10,000 10,000 10,000 10,000 10,000
Legend - - - - - - - -
-
Proven - -
- - - - -
Probable Other Inferred Other Inferred Other Inferred Other Inferred Other Inferred
Measured
Indicated '000 Pounds of Zinc
Inferred
Assessment Phase Rating 0.5
Size Assessment Resource Classification of Primary Project:
Hakkari Compliant
Primary Mineral
Resource Primary Mine
Mine Name Equivalent Resource Size Measured Probable
Proven
Location Mineral Type 0% 0%
Including Byproducts Indicated
0%
0%
Proven
Hakkari Compliant Turkey Zinc Open Pit 70,780 '000 Pounds Probable
Measured
Indicated
Inferred
Total Gold equivalent size 4,426 000 Ounces Inferred
100%
Note: Resource size is inclusive of inferred resources. Please see Assessment Phase above for categorical breakdown by project.
Size Assessment Rating 4.7
Ore Grade Assessment
Resource Primary Mine Primary Mineral Grade Primary Mineral Grade Equiv. incl. Byproducts Average
Mine Name Equiv. Rating
Location Mineral Type
Inferred Indicated Measured Probable Proven Inferred Indicated Measured Probable Proven Grade
Hakkari Compliant Turkey Zinc Open Pit 1.92 2.67 2.67 5.0
Note: Grades for primary and byproduct minerals are scored pro forma as described in the NI 43-101 technical report without accounting for recovery rates which in some cases could be significantly below 100%.
Ore Grade Assessment Rating 5.0
Regional Policy and Mineral Potential
Fraser Institute Survey Scores Out of 100
Policy Potential
Mine Name Resource Location Survey
Results Rating
Hakkari Compliant Turkey NA NA
Weighted Average 0.0
Source: Fraser Institute; www.fraserinstitute.org
Since 1997, The Fraser Institute has conducted an annual survey of metal mining and exploration companies to
assess how mineral endowments and public policy factors such as taxation and regulation affect exploration
investment. Survey results represent the opinions of executives and exploration managers in mining and mining
consulting companies operating around the world. The survey now includes data on 51 jurisdictions around the
world, on every continent except Antarctica, including sub-national jurisdictions in Canada, Australia, and the
United States.
Source: Company presentation
Regional Policy and Mineral Potential Rating NA

8. investorSCOREcard
Red Crescent Resources (RCB-T)
Balance Sheet Analysis Rating 4.2
Short-Term Liquidity Quadrant 3: Quadrant 1:
"RECOVERING" "OPTIMAL"
$ 1.0
This Company's cash flow is considered NOT SEASONAL, therefore this report uses the last
+ VE
quarter's cash flow multiplied by 4 as a proxy for annual cash flow. $-
10-Mar
10-Jun
($1.0) 10-Sep
Quadrant Rating Mar-10 Jun-10 Sep-10 Dec-10 Mar-11
Cash Flow (mil)
Working Capital $ 2.6 $ 2.4 $ 2.5 $ 5.9 $ 4.7
($2.0) 11-Mar
Cash Flow Ops (Q in mil) ($0.1) ($0.2) ($0.2) ($1.2) ($0.5)
Cash Flow Ops (Ann Q's in mil) ($0.5) ($0.6) ($1.0) ($5.0) ($2.0) ($3.0)
Quadrant Rating 3.0 3.0 3.0 3.0 3.0
($4.0)
Addition to Quadrant Rating
($5.0) 10-Dec
Our methodology accounts for the 'nearness' to improving or worsening a Company's quadrant
ranking based on current cash generation/burn rate and working capital position. The Company
($6.0)
- VE
is DRAWING DOWN their working capital. At the current cash burn rate the Company's working
($4) ($2) $1 $3 $5 $7
capital will be $0 in 28 month(s). Quadrant 2:
Quadrant 4:
"URGENT" "DRAWING DOWN"
Add: 1.2 - VE Working Capital (mil) + VE
Short-Term Liquidity Rating 4.2
Debt to Equity
Mar-10 Jun-10 Sep-10 Dec-10 Mar-11
Equity Utilities
Telecom
Common Stock Equity
Number of Companies
$ 4.7 $ 4.5 $ 4.1 $ 7.6 $ 6.8
Materials
Total Equity $ 4.7 $ 4.5 $ 4.1 $ 7.6 $ 6.8
Info Tech
Industrials
Debt and Equivalents Health Care
Pref. Securities of Sub Trust - - - - - Energy
Cons Staples
Pref. Equity Outside Stock Equity - - - - -
Cons Disc
Preferred Stock Equity - - - - -
RCB-T
Minority Interest (Bal. Sheet) - - - ($0.0) ($0.0)
Short-Term Debt - - - - -
Long-Term Debt - - - - -
Capital Lease Obligations - - - - -
Total Debt and Equivalents $ - $ - $ - ($0.0) ($0.0)
0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00
Debt to Equity 0.00 0.00 0.00 0.00 0.00
Debt to Equity Rating NA Low Risk Debt to Equity High Risk
Debt to Equity Rating NA
Interest Coverage
Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 1.0 x
EBIT 0.9 x
Quarterly ($0.2) ($0.2) ($0.4) ($2.0) ($0.8) 0.8 x
TTM
Interest Coverage
($0.7) ($0.8) ($1.0) ($2.8) ($3.4)
0.7 x
0.6 x
N/A
Interest Expense
0.5 x
Quarterly - - - $ 0.1 $ 0.0
TTM - - - $ 0.1 $ 0.1 0.4 x
0.3 x
Interest Coverage 0.2 x
Quarterly #N/A #N/A #N/A #N/A #N/A
0.1 x
TTM #N/A #N/A #N/A #N/A #N/A
0.0 x
Mar 10 Jun 10 Sep 10 Dec 10 Mar 11
Interest Coverage Rating
Qtrly Interest Coverage Rating Quarterly
TTM Interest Coverage Rating TTM
Interest Coverage Rating N/A

9. investorSCOREcard
Valuation Rating 1.9
Premium to Invested Capital
(Lower numbers receive higher rankings)
Premium to Invested Capital on Rolling
$ 3.0 $ 3.0 $ 5.5 $ 42.0 $ 37.2
Basis
TTM
-92.7% -88.6% -10.4% 400.0% 407.7%
Premium to Invested Capital Rating 5.0 5.0 5.0 1.2 1.2
Premium to Invested Capital Rating 1.2
Price to Book (P/Book)
(Lower numbers receive higher rankings)
Dec-06 Dec-07 Dec-08 Dec-09 Dec-10
$ 0.34 $ 0.34 $ 0.62 $ 0.51 $ 0.45
Book Equity Per Share $ 0.18 $ 0.12 $ 0.49 $ 0.54 $ 0.09
P/Book on Quarterly
Annual P/Book Rating 4.8 4.8 4.8 4.8 4.8
Basis
$ 0.34 $ 0.34 $ 0.62 $ 0.51 $ 0.45
Book Equity Per Share
Quarterly P/Book Rating 4.5 4.5 4.1 0.3 0.3
Price to Book (P/Book) Rating 2.5
Market Implied In Situ Valuation
Market Implied In Situ Valuation
$0.60
$0.50
$0.40
per Unit
$0.30
$0.20
$0.10
$0.00
Proven + Probable Including Measured Including Inferred
& Indicated
NA
* Price - Delayed 60 days to reflect the fact the financial statements are publicly approximately 60 days after the last day of the reporting period. For the last period the most recent price is used.

10. investorSCOREcard
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