|By Marketwired .||
|September 3, 2014 05:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/03/14 -- Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to report progress in permitting the San Ramon Gold Deposit within its 100% owned Santa Rosa Gold Project located in Antioquia, Colombia. The Secretary of Mines of Antioquia has formally approved the Mining Technical Work Plan (Programa de Trabajo y Obras or "PTO"), which was submitted in November 2013, in Resolution 121146, dated August 12, 2014. This is the final approval required subject to receiving the Environmental License.
As previously reported, a comprehensive Environmental Impact Assessment ("EIA") including an Environmental Management Plan ("EMP") was submitted on February 20, 2014 to Corantioquia (Department of Antioquia Environmental Agency). The EIA was prepared by Tetra Tech, a leading international engineering firm. Approval of the EIA and EMP by Corantioquia, which grants the Environmental License, is the final permit required for construction and mining of the San Ramon Gold Deposit.
A Definitive Feasibility Study ("DFS") of the San Ramon Gold Deposit is being prepared by Lycopodium, a leading international project management and engineering firm. The DFS is on schedule for completion this month.
The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 43-101.
About Red Eagle Mining
Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 350 km2 historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the San Ramon Gold Deposit where a positive Preliminary Economic Assessment supports project advancement. Project finance and permitting are currently underway.
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 the Company 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.
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