Toronto, Ontario--(Newsfile Corp. - July 16, 2014) - Red Mile
Minerals Corp. (“Red Mile” or the “Company”) (TSXV: RDM) announces
that John Vincent Hickey has resigned as President and Chief
Executive Officer of the Company, David McDonald has resigned as
Chief Financial Officer and as Corporate Secretary, and John Heslop
has resigned as a director of the Company. The Board of Directors
wishes to thank these gentlemen for their hard work and
professionalism since the inception of Red Mile.
The Company announces that Frank J Basa, P.Eng., has been
appointed President, Chief Executive Officer and a director of the
Company, and Thomas P. Devlin has been appointed Chief Financial
Officer, Corporate Secretary and a director of the Company. Mr.
Basa is a graduate in metallurgical engineering from McGill
University (1982) and has business experience in both finance and
mineral industries. Mr. Basa is also the President and Chief
Executive Officer of Gold Bullion Development Corp. and Castle
Silver Mines Inc.Mr. Devlin, the Chief Financial Officer of Gold
Bullion Development Corp. and Castle Silver Mines Inc., has over 40
years of experience in finance and management of public
The Company also announces that the TSX Venture Exchange has
approved the settlement of $177,231 of outstanding debt by the
issuance of an aggregate of 3,244,620 common shares to certain
creditors of the Company as of June 14, 2014. All shares issued
pursuant to the shares for debt settlement are subject to a hold
period expiring on November 15, 2014 in accordance with the
policies of the TSX Venture Exchange and applicable securities
About Red Mile Minerals Corp.
Red Mile Minerals Corp is a tightly held mineral exploration
company with a gold property along the prolific Destor–Porcupine
gold–producing region in Ontario and the Esker Property near Pickle
Lake, Ontario. Red Mile continues to seek additional minerals
exploration opportunities where the Company’s exploration expertise
and corporate share structure could substantially enhance
“Frank J. Basa”
Frank J. Basa, P.Eng.
President and Chief Executive Officer
For further information contact:
Frank J. Basa, P. Eng., President and CEO at 1–514–397–4000.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward–looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. 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.