Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

August 12, 2008 23:59 ET

Ruby Red Resources Engages Investor Relations Consultant

CALGARY, ALBERTA--(Marketwire - Aug. 12, 2008) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red" or the "Company") is pleased to announce that it has engaged Konemet Enterprises Ltd. ("Konemet") to provide investor relations and related services to the Company.

The services to be provided by Konemet generally will be targeted towards generating awareness and market interest in the Company and the Company's securities. In providing these services, Konemet will generally act as an on-going liaison with potential investors, brokers and analysts. The services will involve the coordination of regular meetings between the Company, brokers and analysts, the production of various forms of research coverage, web-based as well as live investor presentations, and distribution and dissemination of research reports. In consideration for these services, the Company will pay Konemet a cash fee of $3,000 per month for a period of six months and will grant (subject to regulatory approval) 50,000 stock options to Konemet, each of which shall be exercisable into one common share of the Company at a price of $0.25 per share for a period of 18 months.

Konemet assisted the Company in a private placement financing in 2007. In consideration for its services, Konemet received a finder's fee as well as 20,000 common share purchase warrants, each of which is exercisable to acquire a common share of the Company at a price of $0.35 per share until November 2, 2008. Other than the above, there is no prior relationship between the Company and Konemet, nor is there any prior direct or indirect interest in the Company or its securities, or any right or intent to acquire such an interest on the
part of Konemet.

About Konemet Enterprises Ltd.

Konemet assists companies in a wide variety of industries and emerging growth sectors by creating and executing information-based strategies to overcome market inefficiencies that are commonplace for the vast majority of public companies, such as share illiquidity and stagnant market capitalization. The head office of Konemet Enterprises Ltd. is located at 120 Overbrook Place, Toronto, Ontario M3H 4P8.

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. The company 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.

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