Ruby Red Resources Inc.

Ruby Red Resources Inc.

December 19, 2008 23:59 ET

Ruby Red Resources Grants Options

CALGARY, ALBERTA--(Marketwire - December 19, 2008) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red" or the "Corporation") announces today that, pursuant to its stock option plan, it has granted options to acquire up to an aggregate of 1,155,000 common shares of Ruby Red to certain directors and officers of the Corporation. Each of the options is exercisable for a five year term expiring on December 19, 2013, and exercisable until that time at a price of $0.10 per common share. One-third of the options vested immediately upon the date of grant with an additional one-third to vest on each of the first and second anniversary dates from the date of grant. The options are subject to a four month hold period expiring April 20, 2008.

About Ruby Red Resources Inc.

Ruby Red was formed to participate in the acquisition, exploration and development of mineral claims in the Fort Steele Mining Division of British Columbia for the purpose of exploring for precious and base metals. Ruby Red holds 100% working interests in 144 mineral claims (approximately 44,000 hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell and Rocky Mountains.

%SEDAR: 00024735E

Contact Information

  • Ruby Red Resources Inc.
    Randall Tronsgard
    Vice-President, Corporate Development
    (403) 770-1346