Red Eagle Mining Buys San Ramon Extension From AngloGold Ashanti - Quick Facts

(RTTNews) - Red Eagle Mining Corp. (RD.V, RDEMF.PK) announced an agreement with AngloGold Ashanti Colombia S.A., pursuant to which the company will acquire 100% of certain contiguous mineral exploration rights totaling 1,673 hectares within Red Eagle Mining's Santa Rosa Gold Project in Antioquia, Colombia. Red Eagle Mining has agreed to pay $375 thousand to AngloGold Ashanti Colombia over two years and grant it a 2% net smelter return royalty on the properties acquired.

Ian Slater, CEO, of Red Eagle Mining, said: "This acquisition is a crucial step in accomplishing our objective of consolidating the Santa Rosa gold mining district following our acquisition of the core project in 2011, the surrounding area from Grupo de Bullet in 2012 and our staking programme in 2013. The acquisition is also important to developing the San Ramon Gold Deposit as it has the potential to extend the existing resource further to the east."