Red Eagle Mining Provides Update on Operations at Santa Rosa Gold Project

Red Eagle Mining Corporation is pleased to provide an update on operations at the Santa Rosa Gold Project, Antioquia, Colombia.

The mill continued to ramp up according to plan processing 17,008 tonnes at 2.12 grams per tonne gold producing 1,100 ounces of gold in January and 21,138 tonnes at 3.19 grams per tonne gold producing 1,974 ounces of gold in February.  Gold recovery was 91%.  The mill operated slightly above plan of 750 tonnes per day and production was at the high end of guidance for February of 1,500 – 2,000 ounces of gold.

San Ramon currently has 24 attack ramps with 16 in production (which provided 39 active production faces in February) and the remaining attack ramps in breasting, backfill or development.  Stope mining operations continued to ramp up with 17,092 tonnes at 3.27 grams per tonne gold mined in February.  New equipment arrived at site and was put into operation at the end of January supporting increased production in February.  The final two new scoops are now due for delivery in April due to supplier manufacturing delays, which will enable production to be significantly increased in April.