Red Ore Gold Inc.

Red Ore Gold Inc.
Galahad Metals Inc.

Galahad Metals Inc.

September 16, 2011 09:03 ET

Red Ore Gold Receives Receipt for Its Final Prospectus

OTTAWA, ONTARIO--(Marketwire - Sept. 16, 2011) - (TSX VENTURE:GAX)


Red Ore Gold Inc. ("RXX") is pleased to announce that it has received a receipt for its final long form prospectus dated September 13, 2011 (the "Prospectus") from the British Columbia Securities Commission, on behalf of securities regulators in Ontario and Alberta. In addition, RXX is pleased to announce that it has also received conditional listing approval from the TSX Venture Exchange (the "Exchange") to list its common shares for trading on the Exchange subject to RXX fulfilling all of the listing requirements imposed by the Exchange, including distribution of its common shares to a minimum number of public shareholders.

The Prospectus is related to RXX's initial public offering ("IPO") of units to raise between $1.5 million and $3.0 million, with PI Financial Corp. acting as the agent. Each unit is offered at a price of $0.30 per unit and consists of one common share and one transferable warrant exercisable to acquire one further common share at $0.40 per share for 24 months following the closing of the IPO. The closing of the IPO is conditional upon certain conditions including final Exchange approval.

The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold in the United States or to "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act, absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the offered securities in any jurisdiction.

The statements in this press release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from RXX's expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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