VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- Red Eagle Mining Corporation (TSX:R) (BVL:R) (OTCQX:RDEMF) is pleased to announce results from ongoing underground delineation drilling at the San Ramon Gold Mine, Santa Rosa Gold Project, Antioquia, Colombia.  Results from 35 additional underground diamond drill holes have been received (SRDU-0196 to SRDU-0231).  Most of this drilling is located below the mine workings along 300 metres of strike between sections 856,970 E and 857,200 E extending the vertical extent of known gold mineralization.  Mineralization is open to depth in an area with no previous drilling and outside of the mineral resource and mineral reserve.  Results continue to return intercepts with grades significantly higher than the reserve grade of 5.2 g/t Au with highlights including intersections:

Drill hole From (m) To (m) Length (m) Au (g/t)
SRDU-0206 108.50 113.25 4.75 20.30
Including 108.50 109.80 1.30 67.84
Including 112.80 113.25 0.45 7.18
SRDU-0207 66.95 67.35 0.40 107.69
SRDU-0209 83.30 85.70 2.40 12.49
SRDU-0218 66.95 72.90 8.26 5.95
Including 66.95 68.60 1.65 21.76
Including 69.35 69.67 0.32 18.11
Including 71.60 72.90 1.30 5.07
SRDU-0221 59.00 64.85 5.85 11.69
Including 59.00 59.45 0.45 5.93
Including 62.95 64.85 1.90 34.29
SRDU-0223 69.80 76.38 6.58 7.26
Including 69.80 70.50 0.70 6.44
Including 73.15 76.38 3.23 13.07
SRDU-0225
Including		 57.80
57.80		 63.40
58.70		 5.60
0.90		 8.24
24.42
Including 61.40 63.40 2.00 11.53
SRDU-0227 39.40 42.60 3.20 21.55
Including 39.40 40.35 0.95 19.53
Including 41.60 42.60 1.00 49.90

 

Three underground diamond drill rigs have completed 20,372 metres in 231 stope delineation holes with assays pending on hole SRDU-0216.  The results from 195 underground stope delineation holes (SRDU-0001 to SRDU-0195) were previously announced.  For complete drilling results, please see Table 1 - Drill Hole Intersections, Table 2 - Drill Hole Specifications, Figure 1 - Long Section, Figure 2 and Figure 3 - Cross Sections.  Drill assays were composited by length-weighted averaging into intersections using a 2 g/t Au cut-off grade.  For photographs of the drill core see Red Eagle Mining’s photostream on flickr.

Quality Assurance and Quality Control

All technical information for Red Eagle Mining’s Santa Rosa Gold Project is obtained and reported under formal quality assurance and quality control (“QA/QC”) procedures and guidelines.  Red Eagle Mining’s procedures are designed to meet or exceed C.I.M. “Best Practices Guidelines” and National Instrument 43-101 standards of disclosure.  QA/QC protocols for drill core sampling and assaying include the insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) to validate the accuracy and precision of the assay results.

All drilling samples were collected with a diamond core drilling rig using approximately 0.5 metre sample intervals following industry standard practice.  Activation Laboratories Ltd. prepared and assayed the samples at their laboratory in Medellin, Colombia.  Fire Assay for Au (using a 50 gram sample) with an AAS finish was carried out routinely on all samples submitted.  For all samples which returned initial Au fire assays of greater than 5 g/t, a second Fire Assay for Au was performed (also using a 50 gram sample) with a gravimetric finish.

The technical information contained in this news release has been reviewed and approved by Red Eagle Mining’s Vice President Exploration, David G. Thomas P. Geo., who is a “Qualified Person” as defined under National Instrument 43-101. 

About Red Eagle Mining

Red Eagle Mining is a gold producer focused on building shareholder value through acquiring, developing and operating gold and silver projects in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration.  Red Eagle Mining owns 100% of the Santa Rosa Gold Project and controls Red Eagle Exploration which owns 100% of the Vetas Gold, California Gold and Santa Ana Silver Projects.

For further information on Red Eagle Mining Corporation please contact:

Patrick Balit
Vice President Corporate Development
Red Eagle Mining Corporation
Suite 2348-666 Burrard Street
Vancouver, BC, V6C 2X8
+1 604 638 2545
+1 604 360 5722 mobile
balit@redeaglemining.com
www.redeaglemining.com

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. 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 Red Eagle Mining 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.