Red Mile Capital Corp.

September 10, 2008 17:15 ET

Red Mile Capital Corp. Terminates Option Agreement to Acquire Mineral Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - RED MILE CAPITAL CORP. ("Red Mile") (TSX VENTURE:RDM.P), a capital pool company, announces the termination of the agreement dated March 28, 2008 (the "Agreement") with South Coast Ventures Inc. ("South Coast") to earn a 100% interest in the York Harbor copper-gold property located in western Newfoundland, Canada. The Agreement was intended to serve as Red Mile's Qualifying Transaction.

Red Mile is of the opinion that it has adequate funds to pursue other Qualifying Transaction opportunities. As a result, Red Mile will resume its process of identifying and evaluating businesses and assets with a view to completing a potential Qualifying Transaction.

It is expected that trading will resume in the common shares of Red Mile on the TSX Venture Exchange on September 12, 2008.

On behalf of the Board of Red Mile Capital Corp.

Larry Whitehead, President and CEO

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Red Mile Capital Corp.
    Larry Whitehead
    President and CEO
    (604) 542-2223