Red Lake Exploration, Inc. Releases Mining Results From the Santa Rosa Property, Chile
Posted on: Monday, 14 April 2008, 09:00 CDT
Red Lake Exploration, Inc. (OTCBB: RLKX), www.redlakeexploration.com, is pleased to summarize the results of the contract mining of the Santa Rosa copper-gold property in Chile.
As part of Red Lake's option to acquire the Santa Rosa property, the vendor may continue to mine the property at the discretion of Red Lake. From the beginning of October through to the end of February, the vendor sold 3,004 tonnes of material to ENAMI, a Chilean national mining company. The average grade of the material was 1.3% copper. High-grade ore sold to ENAMI included 1.57 tonnes grading 19.78% copper and 13.90 grams per tonne of gold.
Red Lake acquired the option on the Santa Rosa property on February 1, 2008. In return for the right to mine the property, the vendor pays Red Lake a royalty equal to 5% of the net proceeds that the vendor receives from the sale of the ore.
The Santa Rosa property is made up of two mining and exploration concessions totaling 110 hectares. The property lies in the highly prospective Candelaria iron-oxide-copper-gold (IOCG) belt. Recent exploration has identified multiple mineralized structures with significant alteration indicators of IOCG systems.
The company's president, John Di Cicco, stated, "These encouraging results confirm our belief in the potential of the Santa Rosa project. The planned drill program has been designed to follow up on the success of the contract mining as well as testing other prospective targets."
About Red Lake Exploration, Inc.
Red Lake Exploration, Inc. is engaged in acquiring, exploring and developing natural resource properties. Its headquarters are in Richmond, Canada.
Safe: Harbor: Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1955. Although Red Lake Exploration, Inc. believes the expectations reflected in these forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be met. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in economic conditions and other risks detailed from time to time in Red Lake's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The Company is not obligated and does not undertake to update any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
Contacts: Red Lake Exploration, Inc. John Di Cicco President 1-866-907-5403 Website: www.redlakeexploration.com
SOURCE: Red Lake Exploration, Inc.
Source: MARKET WIRE
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