Redcorp Ventures Ltd.
TSX : RDV

Redcorp Ventures Ltd.

July 28, 2005 09:00 ET

Redcorp Ventures Ltd.: Tulsequah Project Receives Final CEAA Authorization

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 28, 2005) - REDCORP VENTURES LTD. (TSX:RDV) (the "Company") is pleased to announce it has been informed that Fisheries & Oceans Canada and Transport Canada, as Responsible Authorities for the Tulsequah supplemental screening assessment under the Canadian Environmental Assessment Act ("CEAA"), have recorded their decision that the Tulsequah Project, owned 100% by Redcorp's wholly-owned subsidiary - Redfern Resources Ltd., is unlikely to result in any significant adverse environmental effects. Accordingly the project is cleared to proceed.

This decision marks the conclusion of a supplemental screening process which commenced in April 2004 and was required as a result of amendments to the Project from the original CEAA Screening approval obtained in 1998. At this time the Tulsequah Project holds all of the necessary federal and provincial environmental assessment certifications to allow the project to proceed to development. Redfern also holds a Special Use Permit for the proposed access road to the project.

In May, the Company announced that Redfern had suspended a Feasibility Study update of the Tulsequah project due to higher than anticipated preliminary estimates of capital and operating costs. In order to make the project financeable Redfern is currently evaluating opportunities to reduce these costs and to expand the existing resource base. The receipt of the CEAA screening authorization is very important as it now provides a clear path to development once the project feasibility is re-established.

The Company also wishes to acknowledge and thank the many individuals, companies and organizations who made the effort to record with the federal government their support for the project and the necessity for a fair and objective concluding decision under the CEAA process.

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.

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

Terence Chandler, President

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements.

News Release 05-09

Contact Information

  • Redcorp Ventures Ltd.
    Terence Chandler
    President
    (604) 669-4775 or Toll Free: 1-888-669-4775
    (604) 669-5330 (FAX)
    www.redcorp-ventures.com