Red Rock Energy Inc.

Red Rock Energy Inc.

October 22, 2010 12:34 ET

Red Rock Announces Completion of Work Program and Approval of Assessment Work

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2010) - Red Rock Energy Inc. (TSX VENTURE:RRK) announced today that it has successfully completed a program of summer fieldwork on its Uranium City properties and has had assessment work documenting its 2008 and 2009 field exploration programs approved.

Building upon its thorough 2009 fieldwork program and the collection, integration and analysis of historical data, the 2010 program focused on selected targets that required further detailed geological mapping and examinations. This work took place in the vicinity of the former Eldorado Nuclear Limited Fay-Ace-Verna mines and in the Eagle and Lorado areas. Early results indicate that Red Rock has identified new drill targets that have the potential to add additional resources to its 1.34 million lbs of U3O8 of inferred resources that were discovered at the Fusion Zone and East Target. Additional information and the full technical reports for these discoveries are available on Red Rock Energy's web site on the Investors page under the link 'Technical Reports'.

In late September the Mines Branch of the Saskatchewan government approved assessment work for Red Rock's 2008 and 2009 programs ensuring that its core group of claims totaling 24,498 ha will be kept in good standing until 2020. This important step in the process illustrates Red Rock's commitment to ensuring that capital expenditures end up in final exploration, which generates the greatest potential to produce additional resources. Equally important is that this will allow Red Rock to continue the process of identifying, evaluating and analyzing new drill targets and selected areas that require further geological mapping and examinations.


Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

The reader is further cautioned that the preparation of financial statements in accordance with generally accepted accounting principles requires management to make certain judgements and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. Estimating reserves is also critical to several accounting estimates and requires judgments and decisions based upon available geological, geophysical, engineering and economic data. These estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes.


Contact Information

  • Red Rock Energy Inc.
    Sandy Loutitt
    Red Rock Energy Inc.
    Lara Cull
    Operations Manager