Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

September 11, 2007 09:03 ET

Red Back Mining Inc.: High Grade Discoveries Continue at Chirano

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to report that drilling continues to intersect high grade gold below current pit designs at the Chirano gold mine in Ghana, West Africa.

Following up on previously reported high grade intercepts (news release date May 29, 2007), drilling at Chirano is currently focused on infill and definition of high grade resources close to the base of the existing open pit designs.

Drilling under the Akoti pit complex to the north of Akwaaba has intercepted significant high grade intervals. These results clearly demonstrate that significant structurally controlled high grade mineralisation exists in areas of the Chirano shear in addition to the Akwaaba deposit (Indicated resource of 4.1Mt grading 5.8g/t for 0.77Moz gold and inferred resource of 2.3Mt grading 5.0g/t for 0.37Moz gold).

Success at Akwaaba and now Akoti Extended and Akoti North suggests the potential for high grade mineralization below identified surface deposits on the Chirano shear. The Company controls over 30km of the Chirano shear. Akwaaba is the only deposit on the shear that to date has been systematically drill tested at depth.

The table below summarizes material intercepts below the Akoti Extended and Akoti North pits, based on a minimum of 3m grading 3g/t and includes holes previously reported.



------------------------------------------------------------------------
Pit Hole From To Metres Au g/t
------------------------------------------------------------------------
Akoti Extended CHRC825D(i) 254 261 7.00 3.80
-----------------------------------------------------
CHRC360(i) 98 101 3.00 13.70
-----------------------------------------------------
CHRC597(i) 179 182 3.00 5.18
-----------------------------------------------------
CHRC984(i) 54 68 14.00 11.08
-----------------------------------------------------
CHRC059(i) 144 147 3.00 3.55
-----------------------------------------------------
CHRC208(i) 140 156 16.00 8.72
-----------------------------------------------------
CHRC209(i) 81 99 18.00 6.59
-----------------------------------------------------
CHRC113(i) 92 107 15.00 4.22
-----------------------------------------------------
CHRC600(i) 168 178 10.00 4.67
-----------------------------------------------------
CHRC058(i) 141 145 4.00 4.24
-----------------------------------------------------
CHRC206(i) 95 98 3.00 4.42
-----------------------------------------------------
CHRC980(i) 64 73 9.00 3.64
-----------------------------------------------------
CHRC1191 140 178 38.00 7.41
-----------------------------------------------------
CHRC1192 147 177 30.00 3.00
-----------------------------------------------------
including 168 174 6.00 5.73
-----------------------------------------------------
CHRC1194 102 155 53.00 6.27
-----------------------------------------------------
including 143 150 7.00 9.76
-----------------------------------------------------
CHRC1197D 266 277 11.00 3.54
-----------------------------------------------------
CHRC1198 205 227 22.00 9.30
-----------------------------------------------------
CHRC1206 237 246 9.00 3.17
------------------------------------------------------------------------
Akoti North CHRC554(i) 218 227 9.00 3.29
-----------------------------------------------------
CHRC555(i) 151 169 18.00 5.02
-----------------------------------------------------
CHRC556(i) 159 167 8.00 4.02
-----------------------------------------------------
CHRC557(i) 141 147 6.00 3.26
-----------------------------------------------------
and 122 130 8.00 4.06
-----------------------------------------------------
CHRC559(i) 209 222 13.00 5.95
-----------------------------------------------------
CHRC204(i) 136 162 26.00 5.49
-----------------------------------------------------
CHRC824D(i) 339.25 353 13.75 3.75
-----------------------------------------------------
CHRC1183D 293 313.72 20.72 2.40
-----------------------------------------------------
CHRC1184D 287.5 312 24.50 3.83
-----------------------------------------------------
CHRC1185D 254.2 266.7 12.5 3.09
-----------------------------------------------------
CHRC1187D 239 263.6 24.60 2.04
------------------------------------------------------------------------
(i) Previously reported.

Note: True widths are on average 60% of drilled width.


Drilling is ongoing with results expected regularly over the next quarter from Akoti Extended, Akoti North and Suraw and targets still to be tested at Tano, Obra and Paboase. Detailed geophysical surveys aimed at identifying "blind" mineralisation at depth have now been completed. This information is being evaluated and resulting targets will be drill tested in the coming months.

Commenting on the results, Richard Clark, President and CEO of the Company, stated, "We are delighted with these early results from the Akoti pit complex. These intercepts demonstrate the potential for high grade mineralisation at depth similar to that discovered at Akwaaba. The discovery at Akoti Extended is particularly significant given the planned completion of the surface pit in the first quarter of 2008. Drilling at Akoti Extended will continue towards completing an initial underground resource estimate by mid-2008 to follow completion of surface mining in that area. This early success in identifying further high grade targets at Chirano suggests the potential for a materially extended mine life."

The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc, a Qualified Person pursuant to NI-43101. Mr. Stuart is the VP - Exploration of the Company and a Member of the Australasian Institute of Mining and Metallurgy. Samples are prepared and analyzed by fire assay using a 50 gram charge at the Analabs facility in Bibiani, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month at other Analabs laboratories worldwide.

This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.

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", "intend", "plan", "forecast", "project", "estimate" 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

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
    (604) 689-7842
    Website: www.redbackmining.com