February 11, 2008 - Vancouver, British Columbia - Redcorp Ventures Ltd. (RDV-TSX) and its wholly-owned subsidiary, Redcorp Empreendimentos Mineiros Unipessoal Lda ("REM") (together, "the Company"), are pleased to announce that Hy-Tech Drilling 2006 Unipessoal Lda. has been contracted for drilling operations on the Company's Lagoa Salgada Project in Portugal. 

One Hy-Tech drill rig recovering core will be used for the program. The rig and drillers are already in Portugal, and the core drilling is expected to commence mid-February, 2008. One pre-collar hole has already been completed in anticipation of the arrival of the diamond drill rig.  Approximately six drill holes totalling 4000m are planned for this phase of the Lagoa Salgada project. The drilling is expected to be completed by late April, 2008.

The initial holes in this program are designed to follow-up on the semi-massive to massive sulphide mineralization that was discovered by the Company in drill hole RM07004 while exploring in the Rio de Moinhos area on the Lagoa Salgada concession during 2007.  RM07004 intersected 2.5 meters of semi-massive to massive pyrite from 436.6 to 439.10 meters down the hole. The significance of this intercept is that it may be a lateral expression of a volcanogenic massive sulphide system with potential to contain base metal mineralization in the Rio de Moinhos area.

The Lagoa Salgada project is located in the Iberian Pyrite Belt in southern Portugal. The Iberian Pyrite Belt hosts several world class base metal deposits including the currently producing Neves-Corvo and Aljustrel Mines operated by Lundin Mining, which arelocated 75 km and 40 km respectively to the southeast of the Rio de Moinhos area. Within the Lagoa Salgada concession, the Rio de Moinhos target is situated about 12 km southeast of previously identified base metal mineralization forming the Lagoa Salgada deposit proper. A National Instrument 43-101 compliant resource based on the results of ten surface drill holes has been calculated for the Lagoa Salgada deposit proper, and was previously announced by Redcorp on August 21, 2007, as follows:

Lagoa Salgada Resource Estimate (@ $70 USD GMV cut-off, uncapped assays, Wardrop, August 15, 2007)

The Lagoa Salgada resource estimate was prepared in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101 (NI 43-101). Gilles Arseneau, Ph.D., P.Geo of Wardrop Engineering is the Independent Qualified Person who has assumed authorship of that estimate.

Terence Chandler, President of Redcorp states: "We are looking forward with anticipation to the follow-up holes on the Rio de Moinhos discovery and we are very pleased to again have Hy-Tech contracted for the program because of their technical competence and experience with the drilling requirements of this area."

Redcorp Ventures Ltd. is a Vancouver based mineral exploration and development company with active projects in British Columbia, Canada and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations or Salina Landstad, Manager of Public Relations at the contact numbers listed below.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.
"Terence Chandler"
                                                                       
Terence Chandler
President and CEO

Megan O'Donnell, P.Geo. is the qualified person, as defined by National Policy 43-101, supervising the exploration program at the Lagoa Salgada Project.

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta.) Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or "might" occur or be achieved; and, other similar expressions. 

More specifically, forward-looking information contained herein includes, without limitation, statements concerning our plans at our Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay-back period, estimated asset retirement obligations, timing of development and permitting time lines; all of which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. 

Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with our expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the ultimate recovery amount, if any, of our investment in third-party asset-backed commercial paper (ABCP) that is currently undergoing liquidity restructuring by the Committee representing the Montreal Accord, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to our mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes, the potential for delays in exploration or development activities, timely completion of future NI 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to Our Business in our Annual Information Form, filed on SEDAR on April 2, 2007, and in each subsequent Management's Discussion and Analysis. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, we undertake no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. 

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