Red Rock Energy Inc.
TSX VENTURE : RRK

Red Rock Energy Inc.

February 21, 2008 16:49 ET

Red Rock Commences 2008 Drilling Program; Announces Final Results of 2007 Drilling

CALGARY, ALBERTA--(Marketwire - Feb. 21, 2008) - Red Rock Energy Inc. (TSX VENTURE:RRK) announced today that, as of February 5, it has commenced drill campaign number #1 of the 2008 season at its Red Block 2 property which encompasses the former Lake Cinch and Cenex mines area. In addition, Red Rock has now received the balance of analytical results from the its 2007 Diamond Drilling Campaign #3 conducted at its Red Block 1 property near Uranium City.

Collectively, the three 2007 drilling campaigns accounted for a total of 4,428 metres of core which were drilled over 20 drill holes. From these holes, 1,227 samples of core were collected and submitted to Loring Laboratories in Calgary for U308 analysis. The complete results from the last 463 samples as collected from drill holes 07RB1-015 to 07RB1-020 calculated for grade across width are reported in Table 1 below. Red Rock's drill results continue to provide encouragement with five out of five remaining holes producing intersections above .05%, or roughly 1 lbs u308 per ton of rock.

Highlights from the last five holes include: hole 07RB1-018, with three metes of 0.173%, and hole 07RB1-20 with .5 meters of .999%. The program was design to test the Red Fault zone and these results show the previously poorly drill-tested Red Fault to Baseline Fault locale has uraniferous intercepts of exploration interest. Several of the intercepts found by the 2007 Red Rock drilling warrant follow-up drill testing to determine if the various uraniferous intercepts strengthen in width or grade, or both, to depth. Additional drilling will also assess whether the uraniferous zones rake to the west or east along the Red Fault zone. Such supplemental drilling is planned for later in 2008 once the initial campaign of drilling now underway at the RB2 property is completed.



Table 1: Drilling Highlights from Red Rock Energy Inc. Drill Campaign #3
(holes 07RB1-015 to 07RB1-020)

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Core Average Results
Hole From (m) To (m) Length (m) Grade U3O8 Received
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07RB1-015 64.60 65.60 1.00 0.113% Complete
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07RB1-015 178.00 178.70 0.70 0.095% Complete
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07RB1-015 190.90 191.90 1.00 0.039% Complete
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07RB1-016 10.90 15.30 4.40 0.035% Complete
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Including
07RB1-016 11.90 12.80 0.90 0.082% Complete
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07RB1-016 22.00 23.50 1.50 0.074% Complete
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Including
07RB1-016 22.00 23.00 1.00 0.100% Complete
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07RB1-017 175.50 181.50 6.00 0.031% Complete
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Including
07RB1-017 175.50 176.50 1.00 0.069% Complete
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07RB1-018 154.50 158.50 4.00 0.133% Complete
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Including
07RB1-018 154.50 157.50 3.00 0.173% Complete
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07RB1-019 31.00 31.40 0.40 0.119% Complete
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07RB1-019 68.70 70.20 1.50 0.057% Complete
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07RB1-020 94.50 95.00 0.50 0.999% Complete
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07RB1-020 121.50 123.50 2.00 0.051% Complete
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Including
07RB1-020 122.00 122.50 0.50 0.129% Complete
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07RB1-020 129.00 130.00 1.00 0.063% Complete
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07RB1-020 166.00 167.00 1.00 0.105% Complete
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Reg A. Olson, Ph.D., P. Geol., a Qualified Person under NI 43-101 and supervisor of the 2007 and 2008 field exploration and drill programs, has reviewed and is in agreement with the contents of this release.

About Red Rock Energy Inc.:

Red Rock Energy Inc. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of uranium properties in Canada.

Headquartered in Calgary, Red Rock has established a strong technical and logistical base in Uranium City, Saskatchewan, from which it coordinates exploration activities on three property groups in the local area. Red Rock Common Shares are listed on the TSX Venture Exchange under the symbol "RRK". Details of the Company's ongoing exploration activities can be found at www.redrockenergy.ca.

READER ADVISORY

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.

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

Contact Information

  • Red Rock Energy Inc.
    Sandy Loutitt
    President
    (403) 685-1047
    or
    Red Rock Energy Inc.
    Lara Cull
    Operations Manager
    (403) 685-1047
    Website: www.redrockenergy.ca