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REDCORP VENTURES LTD. (RDV-TSX) and Redfern Resources Ltd. ("Redfern"), its wholly-owned
subsidiary, (together the "Company"), are pleased to announce the
receipt of a Mineral Exploration Code permit, granted by the British
Columbia Ministry of Energy, Mines and Petroleum Resources, to commence
Phase 1 of road construction on the Tulsequah Project. This approval
enables Redfern to construct an access road from the Construction Camp site
on the Taku River to the Big Bull Mine Site, a
distance of 4 km,
located entirely on mineral claims held by Redfern.
Road construction will commence immediately and will facilitate the ongoing
exploration of the Tulsequah Project, allowing for transportation of
materials, fuel and machinery to the Big Bull mine site for current and
future exploration programs.
Road construction, as previously reported, is being conducted by Arctic
Const. Ltd. of Fort St. John,
BC, using the construction
machinery barged to site earlier this summer.
The Company has also applied for Phase II of the Mineral Exploration Code
permit, currently under review, for the construction of an additional
exploration road to the Tulsequah Chief Mine and to construct an airstrip. This
road and airstrip will support exploration activities at the Tulsequah
Chief Mine site and surrounding areas prior to mine construction. The
additional road will extend off of the Big Bull access road, currently
under construction, and connect with mine-site roads which extend south
from the Tulsequah Chief mine. The building of this infrastructure will provide
a linkage between the key exploration targets and areas of known resources
and reserves on the Tulsequah Property. In addition, the proposed
roads will reduce costs for exploration and the future development of the
project.
Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and
development company with active projects in British
Columbia 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, at 1-888-225-9662.
ON BEHALF OF THE BOARD OF DIRECTORS
OF REDCORP VENTURES LTD.
"Terence Chandler"
Terence Chandler
President
Megan O'Donnell, P.Geo. and
Michael G. Allen, P.Geo are the qualified persons, as defined by National
Instrument 43-101, supervising the exploration program at the Tulsequah
Project. Eco-Tech Laboratories of Kamloops BC
is an accredited assay laboratory conducting the sample analyses and assays
using standard techniques.
Certain of the statements made and
information contained herein is "forward- looking information"
within the meaning of the Ontario
Securities Act.. This includes statements
concerning the Company's plans at its Tulsequah Project and other mineral
properties, which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of
the Company, 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 is subject to a
variety of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking information,
including, without limitation, the availability of financing for
activities, risks and uncertainties relating to the interpretation of drill
results and the estimation of mineral resources and reserves, the geology,
grade and continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent with the
Company's expectations, metal price fluctuations, environmental and
regulatory requirements, availability of permits, escalating costs of
remediation and mitigation, risk of title loss, the effects of accidents,
equipment breakdowns, labour disputes or other unanticipated difficulties
with or interruptions in exploration or development , the potential for
delays in exploration or development activities or the completion of
feasibility studies, the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses, commodity
price fluctuations, currency fluctuations, expectations and beliefs of
management and other risks and uncertainties, including those described
under Risk Factors Relating to the Company's Business in the Company's
Annual Information Form and in each management discussion and analysis. In
addition, forward-looking information is based on various assumptions
including, without limitation, contractor's costs, remote site
transportation costs and materials costs for future remediation. Should one
or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Accordingly, readers are advised
not to place undue reliance on forward-looking information. Except as
required under applicable securities legislation, the Company undertakes 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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