Red Eagle Mining Corp RDEMF

RED EAGLE MINING INTERSECTS 12.60 METRES AT 16.47 GRAMS GOLD

[PerseusLtd]

December 6, 2016 –Red Eagle Mining Corporation (TSX: R, BVL: R, OTCQX: RDEMF) is pleased to announce results from ongoing ore production stope delineation drilling at the San Ramon Gold Mine, Santa Rosa Gold Project, Antioquia, Colombia. The results from the initial 50 holes (SRD-0001 to SRD-0050) were previously announced. An additional 45 holes have been completed (SRD-0051 to SRD-0095) with highlights including intersections:

• SRD-0054 – 3.92m at 12.83 g/t Au from 50.78m down hole (incl. 1.40m at 30.70 g/t Au)
• SRD-0068 – 2.90m at 27.35 g/t Au from 69.90m down hole
• SRD-0083 – 4.05m at 10.45 g/t Au from 68.30m down hole
• SRD-0091 – 2.40m at 23.34 g/t Au from 72.60m down hole
• SRD-0093 – 12.60m at 16.47 g/t Au from 89.90m down hole (incl. 0.50m at 83.60 g/t Au)

Results from the delineation drilling continue to exceed expectations with intercepts significantly longer that the average mining width of 3m and grades significantly higher than the reserve grade of 5.2 g/t Au. For complete drilling results, please see Table 1 – Drill Hole Intersections, Table 2 – Drill Hole Specifications. Drill hole plans and drill pad cross sections can be found on Red Eagle Mining’swebsite. Drill assays were composited by length-weighted averaging into intersections using a 2 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate for mining continuity. For photographs of the drill core see Red Eagle Mining’s flickr.