Northwest Mining Investor Report

Northwest Mining Investor Report

November 14, 2008 21:06 ET

Northwest Mining Investor Report: Redcorp Ventures' Tulsequah Chief Mine Financial Situation Worsening

Analysis Shows Significantly Lower Net Present Value and Internal Rate of Return

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2008) - The Northwest Mining Investor Report (NWMIR) has conducted an analysis of Redcorp Ventures' Tulsequah Chief mine project in light of dropping commodity prices and other recent economic changes. The current financial outlook seems far worse than that predicted in Redcorp's March 2007 feasibility study and in recent updates, especially in light of the increased mine development costs listed in a June 12, 2008 Redcorp press release.

NWMIR thinks that dropping metals prices threaten the project's viability. However, Redcorp does not appear to have accounted for these diminished returns and NWMIR concludes that the company's current predictions for metals prices over the life of the mine from the 2nd quarter update now seem unrealistically optimistic. Thus, the company's current predictions for Internal Rate of Return appear unreasonably high.

A number of economic factors have changed dramatically since Redcorp's 2nd quarter update in August. NWMIR has analyzed those changes and the effects they have on the Tulsequah Chief mine project. NWMIR urges Redcorp to provide comprehensive updated numbers in its 3rd quarter report, which is expected to post to www.sedar.com today.

For more details and the latest NWMIR report on the Tulsequah Chief mine see www.nwmininginvestor.com.

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