Redcorp Ventures Ltd.
TSX : RDV

Redcorp Ventures Ltd.

August 16, 2007 10:39 ET

Redcorp Ventures Ltd.: MX Permit Granted for Tulsequah Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2007) - REDCORP VENTURES LTD. (TSX:RDV) and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary, (together the "Company"), are pleased to announce the receipt of a Mineral Exploration Code permit, granted by the British Columbia Ministry of Energy, Mines and Petroleum Resources, to commence Phase 1 of road construction on the Tulsequah Project. This approval enables Redfern to construct an access road from the Construction Camp site on the Taku River to the Big Bull Mine Site, a distance of 4 km, located entirely on mineral claims held by Redfern.

Road construction will commence immediately and will facilitate the ongoing exploration of the Tulsequah Project, allowing for transportation of materials, fuel and machinery to the Big Bull mine site for current and future exploration programs.

Road construction, as previously reported, is being conducted by Arctic Const. Ltd. of Fort St. John, BC, using the construction machinery barged to site earlier this summer.

The Company has also applied for Phase II of the Mineral Exploration Code permit, currently under review, for the construction of an additional exploration road to the Tulsequah Chief Mine and to construct an airstrip. This road and airstrip will support exploration activities at the Tulsequah Chief Mine site and surrounding areas prior to mine construction. The additional road will extend off of the Big Bull access road, currently under construction, and connect with mine-site roads which extend south from the Tulsequah Chief mine. The building of this infrastructure will provide a linkage between the key exploration targets and areas of known resources and reserves on the Tulsequah Property. In addition, the proposed roads will reduce costs for exploration and the future development of the project.

Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.

Terence Chandler, President

Megan O'Donnell, P.Geo. and Michael G. Allen, P.Geo are the qualified persons, as defined by National Instrument 43-101, supervising the exploration program at the Tulsequah Project. Eco-Tech Laboratories of Kamloops BC is an accredited assay laboratory conducting the sample analyses and assays using standard techniques.

Certain of the statements made and information contained herein is "forward- looking information" within the meaning of the Ontario Securities Act. This includes statements concerning the Company's plans at its Tulsequah Project and other mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form and in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, contractor's costs, remote site transportation costs and materials costs for future remediation. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

News Release 07-31

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