VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2010) - Red Mile Minerals Corp. (TSX VENTURE:RDM) "Red Mile" announces the completion of a four hole, 1500 meter, diamond drilling program (see NR May 10, 2010) on the Blue Quartz gold property located in Beatty Township 70 kilometers east of Timmins, Ontario and 15 kilometers northwest of the operating Black Fox (formerly Glimmer) gold mine.
Red Mile has the right to earn 100% of the Blue Quartz Property (the "Property") under the terms of an Option and Assignment Agreement dated September 1st, 2008.
Red Mile has completed four holes totaling approximately 1,500 meters of drilling. The program was designed to test the along-strike potential of the Blue Quartz and No. 2 veins. Each of the first three holes, RBQ-10-01 to RBQ-10-03, intersected veins at the projected position of both the Blue Quartz vein and No. 2 vein systems. A fourth hole, RBQ-10-04, tested only for the No. 2 vein and intersected the vein at its projected position.
A total of 300 assays were collected and have been submitted to ALS Chemex for analysis. Assays are pending and will be reported when received and QA/QC checks completed. Red Mile's drilling is summarized in Table 1 below.
Table 1: Summary of Drilling
The Blue Quartz property straddles the northwest trending Painkiller Fault, a splay from the Destor Porcupine Fault Zone regarded as the primary control to gold mineralization in the region. The property was mined between 1923 and 1934 with gold produced from two quartz veins; the 'Blue Quartz vein' and the 'No. 2 vein'. No modern exploration work has been performed testing the potential for along-strike or down-dip continuation of these veins.
This drill program follows the recommendations of L. Rioux, P.Geo. in the NI43-101 Technical Summary Report on the Blue Quartz Property (dated July 27, 2009) and constitutes the final requirement stipulated by the TSX Venture Exchange to complete minimum listing requirements for Red Mile as a Tier 2 issuer.
Qualified Person:
Kerry Sparkes M.Sc., P.Geo and Director of Red Mile is the Qualified Person responsible for the technical information contained within this release. Mr. Sparkes implemented and field-supervised the diamond drill program at Blue Quartz.
On behalf of the Board of Red Mile Minerals Corporation
John Hickey, President and CEO
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.