Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

February 21, 2007 10:04 ET

Red Back Mining Inc.: Obra Mineralization Extends to Depth

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 21, 2007) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to report that it has almost completed a major resource drill out at its Chirano gold mine in Ghana and expects to announce updated resources and reserves early in the second quarter of 2007. Current reserves at Chirano were calculated in 2004 at a US $375 gold price.

As part of the reserve/resource upgrade program, recent drilling at the Obra deposit (41% of the current Chirano reserve) has targeted inferred resources below the presently designed pit shell. The table below lists results from significant infill holes in this area.



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Interval(1) Grade
Hole ID From (m) To (m) (m) (g/t gold)
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CHRC602D 219 347 128 1.75
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incl 313 343 30 4.01
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CHRC676D(2) 302.3 399.6 97.3 1.77
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CHRC848D 243.2 409 165.8 1.81
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incl 303.5 343 39.5 3.86
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CHRC856D 258.4 354.7 96.3 2.14
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incl 323 348 25 4.36
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CHRC877D 130 265 135 2.76
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incl 247.9 264 16.1 7.61
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(1)These intercepts represent true mineralized widths of between
60 and 85 metres.
(2)Previously released hole.


Drilling continues to demonstrate the potential for increasing current reserves at Obra through conversion of inferred resources and the material extension of mineralization at depth. The widening of the host intrusive up to true widths of 85 metres and the discovery of several high grade intercepts at depth significantly add to the potential of the Obra deposit.

Commenting on the results, Richard Clark, President and CEO of the Company stated, "Historically, the possibility of extending the Chirano mineralization to depth has received minimal attention. Recent drilling however, particularly below the Obra deposit, demonstrates a continuation of mineralization with an associated increase in both width and grade. These results, coupled with the exciting high grade underground discovery at the Akwaaba deposit, clearly demonstrate the potential for Chirano to grow significantly.

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. 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 of Directors

Richard P. Clark, President

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