Ruby Red Resources Inc.

Ruby Red Resources Inc.

September 24, 2008 23:59 ET

Ruby Red Proposes to Extend Terms of Warrants

CALGARY, ALBERTA--(Marketwire - Sept. 24, 2008) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red" or the "Company") announces that it has made application to the TSX Venture Exchange for approval to extend the terms of previously issued warrants of Ruby Red. A total of 1,200,000 non-transferable warrants were set to expire on October 3, 2008 and 400,000 non-transferable warrants were set to expire on November 3, 2008. Each of the warrants entitles the holders thereof to purchase a common share of Ruby Red at a price of $0.35 per share. The directors of Ruby Red have determined, subject to TSX Venture Exchange approval, that it was appropriate to extend the expiry dates of all the warrants to April 3, 2009.

About Ruby Red Resources Inc.

Ruby Red was formed to participate in the acquisition, exploration and development of mineral claims in the Fort Steele Mining Division of British Columbia for the purpose of exploring for precious and base metals. Ruby Red holds 100% working interests in 144 mineral claims (approximately 44,000 hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell and Rocky Mountains.

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include but are not limited to risks inherent in the mining industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. Ruby Red undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

Contact Information

  • Ruby Red Resources Inc.
    Randall Tronsgard
    Vice-President, Corporate Development
    (403) 770-1346 or Toll Free: 1-866-257-4337