Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

October 18, 2010 12:16 ET

Ruby Red Resources Announces Name Change and Share Consolidation

CALGARY, ALBERTA--(Marketwire - Oct. 18, 2010) - Ruby Red Resources Inc. (the "Company") (TSX VENTURE:RRX) is pleased to announce that at the annual and special meeting of the Company that was held on September 27, 2010, the shareholders approved resolutions authorizing the Company to change its name and to consolidate its common shares on a one (1) new for ten (10) old basis. The TSX Venture Exchange has accepted for filing documentation with respect to the name change and the consolidation. The name change and the consolidation will take effect on October 20, 2010 and, at that time, the Company's name will be changed to "SG Spirit Gold Inc." and the Company's common shares will begin trading under its new trading symbol, "SG".

Letters of transmittal will be sent by mail to shareholders advising them that the name change and consolidation has taken effect and instructing them to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate representing common shares prior to the consolidation will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.

About the Company

The Company is relatively small but possesses a large mineral property inventory: slightly over 50,000 hectares (123,500 acres) in southeastern British Columbia, Canada.The Company's mission is: to define quality mineral exploration opportunities that can be developed in a sustainable and environmentally responsible manner and that can contribute to the economic and social well-being of local communities.

In recent years the Company has concentrated its efforts on the Kimberley Gold Trend ("KAT"), which blankets a large portion of the Company's properties. The KAT is a metal-rich boomerang-shaped region roughly 30 km wide and 100 km long, extending from the Purcell Mountains in the west, across the Rocky Mountain Trench where it bends north to occupy a swath of the western Rocky Mountains.

Certain statements contained in this press release constitute forward-looking statements (the "forward-looking statements"). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Specifically, forward-looking statements include the statements made with respect to the expected timing and completion of the name change and the consolidation. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results and consequently, there is no representation that the actual results will be the same, in whole or in part, as those set out in the forward-looking statements.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking statements to conform such statements to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. The reader is cautioned not to place undue reliance on forward-looking statements.

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 RELEASE.

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