Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

September 01, 2010 09:11 ET

Glass Lewis Recommends Red Back Shareholders Vote "For" Kinross Combination

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2010) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) today announced that Glass, Lewis & Co., LLC ("Glass Lewis") has provided a positive recommendation regarding the proposed friendly combination with Kinross Gold Corporation ("Kinross"). Glass Lewis has recommended that Red Back shareholders vote "FOR" the proposed acquisition of Red Back by Kinross.

The boards of directors of both Kinross and Red Back have unanimously approved the friendly business combination under a plan of arrangement, and have unanimously recommended that shareholders also vote in favour of the proposed acquisition.

Glass, Lewis & Co., LLC is a professional services firm that provides proxy research, analysis and voting recommendations to institutional investors and money managers around the world.

Red Back will hold a special meeting of shareholders on September 15, 2010 at 10 a.m. ET regarding the proposed combination with Kinross. Proxies to be used or acted upon at the meeting must be deposited with Red Back's transfer agent, Computershare Investor Services Inc., by 10 a.m. ET on September 13, 2010.

About Red Back

Red Back is an un-hedged African focused gold producer. It owns and operates the Chirano Gold Mine in Ghana and the Tasiast Gold Mine in Mauritania. Aggressive exploration programs aimed at increasing the Company's resource and reserve base at both Chirano and Tasiast are ongoing.

FORWARD-LOOKING INFORMATION

This press release contains "forward-looking information" that is based on Red Back's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Red Back's plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project", and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Red Back's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Red Back's mineral products or increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Red Back disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

On behalf of the Board of Directors:

Richard P. Clark, President

Contact Information

  • Red Back Mining Inc.
    Simon Jackson
    VP-Corporate Development
    604-689-7842
    or
    Red Back Mining Inc.
    Sophia Shane
    Investor Relations
    604-689-7842
    www.redbackmining.com