Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

June 10, 2008 10:59 ET

Red Back Mining Inc.: New High Grade Discovery at Chirano

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2008) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to announce a new high grade discovery at its Chirano Gold Mine ("Chirano") in Ghana.

An ongoing exploration program has intersected a new vertical to north plunging high grade structure below the Paboase South open pit (see attached map, available at the following link: http://media3.marketwire.com/docs/0610rbi3.pdf). To date this discovery has been tested to a depth of 300m from surface; drilling continues, towards defining the further depth potential of this high grade structure. An infill program will commence shortly to determine near term reserve potential. Relevant intercepts to date from Paboase South Deeps are:



----------------------------------------------------
Hole From To Length Au g/t
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CHRC254(i) 126 143 17.00 4.20
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CHRC1263 104 117 13.00 4.17
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CHRC915(i) 168 198 30.00 3.39
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including 183 198 15.00 5.75
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CHRC1264 135 146 11.00 3.03
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CHRC1317 254 288 26.00 3.17
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including 270 280 10.00 5.08
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CHRC1336 324 362 38.00 6.28
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including 341.9 352 10.10 13.12
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CHRC1282 114 134 20.00 4.97
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CHRC930D(i) 173 186.85 13.85 3.99
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CHRC1283 114 157 30.00 5.74
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CHRC1284 142 155 13.00 4.23
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CHRC1358D 502 516.4 14.40 3.36
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CHRC1359D 259 302 43.00 3.54
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including 259 279 20.00 5.00
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True widths are on average 55% of drilled intercepts
(i)Previously released


Commenting on the new discovery under the Paboase South open pit, Richard Clark, President and CEO of the Company stated:

"The discovery of Paboase South Deeps, and early positive results under other surface deposits at Chirano, clearly demonstrate the potential of the Chirano Shear Zone to host numerous high grade deposits at depth. Red Back controls 30km of contiguous strike length on this structure. Development of the first underground mine at Chirano, Akwaaba Deeps, is underway, with first ore scheduled to be delivered to the mill in the fourth quarter of 2008. The discovery of Paboase South Deeps suggests that Akwaaba is only the first of what may be a number of underground operations at Chirano."

In addition to Paboase South Deeps, current drilling is targeting deep extensions identified under the Obra, Suraw, Akoti and Tano open pits. Results will be reported on a regular basis.

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.

About Red Back

Red Back Mining Inc. is an unhedged African focused gold producer. It owns and operates the Chirano Gold Mine in Ghana (90% interest) and the Tasiast Gold Mine in Mauritania (100% owned). Major plant expansions at both Chirano and Tasiast have commenced. The Company is expanding its current operations through development of the Akwaaba Deeps underground mine and an aggressive exploration program to increase its resource and reserve base at both Chirano and Tasiast.

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.

On Behalf of the Board,

Richard P. Clark, President and CEO

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
    Website: www.redbackmining.com