VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/14/13 -- Red Eagle Mining Corporation (TSX VENTURE: RD)(OTCQX: RDEMF) is pleased to announce that it has filed a NI 43-101 Technical Report dated effective January 16, 2013. The Technical Report is with respect to the initial Resource Estimate for the 100% controlled San Ramon Deposit, Santa Rosa Gold Project in Antioquia, Colombia. This initial Resource Estimate established an Indicated mineral resource of 7.34 million tonnes at 1.37 grams gold per tonne containing 322,000 ounces gold and an Inferred mineral resource of 9.45 million tonnes at 1.50 grams gold per tonne containing 456,000 ounces gold. All of these announced resources occur at the San Ramon deposit, one of numerous gold prospects undergoing exploration by Red Eagle Mining at the 390 km2 Santa Rosa Gold Project. An updated Resource Estimate, incorporating an additional 17,000 metres of drilling currently underway at San Ramon, is targeted to be released mid-2013.
The results were announced in a news release dated January 21, 2013 and there are no material differences between the results announced in that news release and those contained in the final Technical Report. The complete NI 43-101 Technical Report is available on Red Eagle Mining's website and www.sedar.com.
The Santa Rosa Resource Estimate was prepared by Michael Lindholm, C.P.G., of Mine Development Associates of Reno, Nevada, who is a "Qualified Person" as defined under NI 43-101. The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 43-101.
About Red Eagle Mining
Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine development team. Red Eagle Mining is currently developing the 390 km2 Santa Rosa gold project located in Colombia. Santa Rosa is an intrusive hosted structurally-controlled quartz stockwork system within the prolific Antioquia Batholith. Gold mining within the Santa Rosa project pre-dates the 16th century when an estimated 30 million tonnes were mined. Santa Rosa is located 70km north of Medellin near the town of Santa Rosa de Osos in a region characterized by gently rolling hills and excellent infrastructure. Santa Rosa is also located approximately 30km west of AngloGold Ashanti's Gramalote gold deposit (2.5 million ounce M&I resource grading 0.8 g/t Au) and 40km east of Continental Gold's Buritica gold deposit (1.6 million ounce M&I resource grading 13.6 g/t Au). Red Eagle Mining also holds an extensive package of exploration ground in Colombia, including the Pavo Real project.
For further information on Red Eagle Mining please refer to our website www.redeaglemining.com.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Red Eagle Mining Corporation
Chief Executive Officer
+1 604 638 2545
+1 604 638 2546 (FAX)
Red Eagle Mining Corporation
+1 604 682 4600 or Toll Free: +1 855 682 4600
Mobile: +1 778 389 7715
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