Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

March 21, 2006 12:55 ET

Red Back Mining Inc.: High Grade Gold Continues at Akwaaba

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2006) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to announce that it has completed a 9 hole, 2,385 metre drill program at Akwaaba, the southernmost of the planned Chirano open pits. The program targeted a high grade, north plunging shoot that has the potential to provide easily accessible, high grade material that could be introduced early into the existing mine schedule.

To date drilling has identified high grade gold mineralization extending 225 metres down plunge from the base of the proposed open pit. Mineralisation remains open.

Results of the remaining 4 holes to be reported (Holes CHRC725D to CHRC728D) are in the following table. Highlights include Hole CHRC728D which returned 15.8 metres grading 15.20 g/t Au including 5.45 metres grading 31.19 g/t Au. For completeness, the table contains the previously reported results as well (news release dated January 6, 2006).



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Hole ID From (m) To (m) Interval (m) Grade (g/t Au)
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Previously Reported
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CHRC709D 181 197.6 16.60 5.70
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incl 183 189 6.00 9.40
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CHRC710D 199.4 203 3.60 7.00
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212 225.8 13.80 3.64
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CHRC711D 188 189.8 1.90 11.20
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204 209.5 5.50 10.20
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CHRC712D 224 239 15.00 2.40
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incl 237 239 2.00 8.30
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CHRC713D 200.7 210.1 9.40 4.50
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incl 206.1 208.1 2.00 12.10
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224 246 22.00 7.66
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incl 241 246 5.00 17.48
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New Results
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CHRC725D 258 262 4.00 4.70
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266.9 273 6.10 5.48
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CHRC726D 235 248 13.0 7.22
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263 267 4.00 1.45
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275 295 20.0 4.75
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CHRC727D 261 265 4.00 5.63
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268.2 270.1 2.90 1.84
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284.8 291.7 6.90 7.98
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308.8 318 9.20 6.16
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320 338 18.0 5.36
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CHRC728D 158.5 174.3 15.8 15.20
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incl 168 173.45 5.45 31.19
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A further program of 7,000 metres of infill reverse circulation (pre-collars) and diamond drilling has now commenced at Akwaaba, with a preliminary underground resource evaluation targeted for mid 2006. This will form the basis of a scoping study to assess the timing and parameters of a shallow underground mining operation at Akwaaba.

Commenting on the results at Akwaaba, Richard Clark, President and CEO of the Company, stated, "This latest drill program has confirmed that Akwaaba has the real potential to deliver high grade underground ounces to the Chirano operation. These ounces could materially affect the economics of the mine and mine life. Consequently, the early development of underground production at Akwaaba is a high priority for the Company. With the success at Akwaaba, we have commenced a program to test the other Chirano open pits for high grade mineralization at depth."

Elsewhere at Chirano follow up drilling has commenced on the Abodoabo prospect, 5km north of the plant site where drilling in January 2006 returned up to 23m grading 2.80 g/t gold. This initial drilling intersected mineralization over a strike length of 750m. The current program will continue towards establishing a resource definition.

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 Exploration Manager of the Company. Selected samples from this lab are check assayed each month. 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. True widths are not accurately known at this time; in some cases they may be less than the core lengths reported.

Red Back Mining Inc. is a Canadian mining company listed on the TSX under the symbol "RBI". The Company holds a 90% interest in the Chirano gold mine located in Ghana, West Africa. Targeted gold production for 2006 is 147,000 ounces. In addition to Chirano the Company has significant landholdings in Ghana both in proximity and along strike from the Chirano mine and regionally.

On behalf of the Board of Directors

Richard P. Clark, President

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.


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