Red Eagle Mining Corporation
TSX VENTURE : RD
OTCQX : RDEMF

Red Eagle Mining Corporation

September 04, 2013 14:41 ET

Appian Increases Stake in Red Eagle Mining

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that on August 30, 2013, Appian Natural Resources Fund LP ("Appian") acquired an additional 3,535,000 common shares of Red Eagle Mining in the market. This acquisition increased Appian's stake to 8,989,545 shares representing approximately 15.3% of Red Eagle Mining.

"We are very pleased that Appian has continued to strongly support Red Eagle Mining", comments Ian Slater, Chief Executive Officer. "Appian's financial strength and technical expertise will be invaluable as Red Eagle develops the San Ramon Gold Deposit."

Michael Scherb, General Partner of Appian Capital Advisory LLP, comments: "We are delighted to increase our ownership in Red Eagle and to support management in the development of the company, in particular the continued accelerated development of the project."

A Preliminary Economic Assessment will be released in the coming weeks for the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia.

About Appian

Appian is a metals and mining private equity fund providing long-term capital to mining companies. Appian's senior management, with a presence in London, Johannesburg and Melbourne, are a combination of major mining company, private equity and mining investment banking professionals who have collectively built and managed over 60 mines and managed $200 billion worth of transactions. Appian's principal tenet is to provide both long-term capital and operating skills to companies, partnering with management with the aim of developing assets into production to realize full value potential.

About Red Eagle Mining

Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine development team. Red Eagle Mining is developing the 400 km² Santa Rosa Gold Project located in Antioquia, Colombia. Santa Rosa is an intrusive hosted structurally-controlled quartz stockwork system within the prolific Antioquia Batholith. Gold mining within the Santa Rosa Gold Project pre-dates the 16th century when an estimated 30 million tonnes were mined. Santa Rosa is located 70km north of Medellin near the town of Santa Rosa de Osos in a region characterized by gently rolling hills and excellent infrastructure. Santa Rosa is also located approximately 30km west of AngloGold Ashanti's Gramalote gold deposit (2.5 million ounce M&I resource grading 0.8 g/t Au) and 40km east of Continental Gold's Buritica gold deposit (1.6 million ounce M&I resource grading 13.6 g/t Au). Red Eagle Mining holds an extensive package of exploration ground throughout Colombia, including the Pavo Real Gold Project.

For further information on Red Eagle Mining please refer to our website www.redeaglemining.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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