Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

June 03, 2009 23:59 ET

Ruby Red Resources Announces Robert Thompson to Head 2009 Field Program on Kimberley Gold Trend

CALGARY, ALBERTA--(Marketwire - June 3, 2009) - Ruby Red Resources Inc. ("Ruby Red" or the "Company") (TSX VENTURE:RRX) is pleased to announce that Robert (Bob) Thompson, PhD, formerly of the Geological Survey of Canada ("GSC"), will head the 2009 field program for the Company in the Kimberley Gold Trend ("KAT"). Ruby Red anticipates spending up to $1,000,000 this year to pursue gold and base metal targets in the KAT. Ruby Red is a small company with a large land position (44,000 ha.) in south-eastern British Columbia, Canada. Our mission: to define quality mineral exploration opportunities that can be developed in a sustainable and environmentally responsible manner and that can contribute to the economic and social well-being of local communities.

Dr. Thompson is a field geologist with more than 35 years experience. In the course of managing major multi-parameter geological programs for the GSC, he has mapped extensively in the Yukon, north-eastern British Columbia, the Queen Charlotte Islands, south-central British Columbia and the Kootenays.
From each project came innovative ideas that underscored geological understanding, new models, and resource potential. Most recently, he spearheaded a massive mapping and compilation project in southern British Columbia that is influencing the way we interpret Cordilleran evolution and is opening new mineral exploration frontiers.

Dr. Thompson is a graduate of Queen's University; BSc (hons) in 1968 and a PhD, PEng in 1972. In 1998, The Canadian Society of Petroleum Geologists awarded him the R.J.W. Douglas medal for outstanding contributions to the understanding of sedimentary geology in Canada.

The 2009 program will focus on the Company's Eddy, Spirit Dream, Zinger and Zeus properties within the KAT trend exploiting the known gold mineralization and developing drill targets on the properties. The Company anticipates performing detailed geological mapping supported by soil geochemistry and limited geophysical surveys to develop these targets. Diamond drilling of the targets is anticipated this field season. Permitting for road / trail construction, trenching and diamond drilling is underway on all of the Company's properties including the Lov, Gar and Robocop.

Financing for the 2009 exploration program is being funded in part by the previously announced private placement of 10,000,000 Units (each, a "Unit") of the Company at $0.10 per Unit. Each Unit consists of one common share and one non-transferable common share purchase warrant entitling the holder to acquire one additional common share at a price of $0.15 per common share for a period of 24 months from the date of issuance. The Company completed the first tranche of this private placement on June 2, 2009. Ruby Red issued 1,595,000 Units at a price of $0.10 per Unit for gross proceeds of $159,500. In connection with the first tranche of the financing, the Company paid finder's fees totalling $2,400 and issued 24,000 finder's fee warrants which are exercisable into 24,000 common shares of the Company at a price of $0.15 per common share for a period of 24 months from the date of issuance. All of the common shares and warrants issued under the financing are subject to a hold period expiring on October 3, 2009. The Company anticipates additional closing(s) on or before June 26, 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.

Certain statements contained in this news release constitute forward-looking statements (the "forward-looking statements"). These statements relate to future events or our future performance. All Statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions. 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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements and information.

Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; and the other factors described in our public filing available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking statements to conform such statements to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. The reader is cautioned not to place undue reliance on forward-looking statements.

%SEDAR: 00024735E

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