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December 7, 2007 -
Vancouver, British Columbia - Redcorp Ventures Ltd. (TSX:RDV) is pleased to
announce that Redfern Resources Ltd., the Company's wholly owned
subsidiary, has today received an Occupancy License to Cut (LTC)
permit issued by the BC Ministry of Forests and Range. The LTC,
together with the previously announced phase II of the Mineral Exploration
(MX) Code Permit issued by the BC Ministry of Energy, Mines and Petroleum
Resources, will enable Redfern to proceed with further road work and
construction of an air strip at the Tulsequah Chief Mine Project.
Construction of the first segment of this road commenced in August under
phase I of the MX Code permit. Under phase II, the exploration access
road will extend approximately 17 km from the Taku River barge landing
site to the mine site and the new airstrip located north of the mine on the
east side of the Tulsequah River. Construction of the exploration
roads and airstrip will facilitate exploration and preliminary development
activities and allow for upgrading of the infrastructure on finalization
and approval of the initial Mines Act permit. Redfern has
cooperatively undertaken more detailed review and communications with the
Taku River Tlingit First Nation in order to address concerns they have
regarding the southern 7km portion of the road. Redfern is currently
completing a heli-lift program to supplement construction materials on site
and support the construction work through the winter season. The
heli-lift program is more than 50% complete at this point.
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
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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Contacts:
Salina Landstad
Manager, Public Relations & Corporate Communications
(604)639-0135 / 1-888-669-4775
or
Troy Winsor
Manager, Investor Relations
1-888-225-9662
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