Ruby Red Resources Inc.

Ruby Red Resources Inc.

November 24, 2008 23:59 ET

Ruby Red Resources Updates 2008 Exploration Program

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2008) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red" or the "Company") is pleased to announce the third quarter update on its 2008 exploration program.

Robocop (Roo): Drilling intersects significant Co-Cu intersections and confirms that mineralization open to the northwest.

Drilling has confirmed that stratabound Cu oxide mineralization in sandstone at the base of the Shephard Formation has greater lateral extent than previously interpreted. The six-hole drill program, designed to test stratigraphic continuity, not only intersected significant Co-Cu mineralization, but confirmed that stratigraphic continuity of the mineralized sandstone is offset by a fault. This has profound geological and economic implications because it replaces historical interpretations of an apparent along-strike pinch-out of significant Cu oxide grades with an open-ended along-strike exploration opportunity to the northwest. This means that mineralization to open at both ends, to the northwest and to the southeast.

The 3,812 hectare Robocop property is 100% owned by the Company; it is located in an easily accessible area 80 kilometres south west of Cranbrook, British Columbia adjacent to the Canada-U.S. border. The Spar Lake deposit (44 million tonnes at 0.74% Cu and 55 gm/tonne Ag) and Blackbird deposit (2.6 million tonnes of 0.60% Cu and 0.56% Co) have produced from stratigraphic equivalents of both the Creston and Shephard formations, both of which are part of the highly mineralized Belt-Purcell Supergroup in southeastern British Columbia.

The table below summarizes the averages for the three drill holes which intersected significant Co-Cu mineralization. The analyses were carried out by Acme Analytical Laboratories Ltd. ("Acme Labs") of Vancouver.

Drill Ag
Depth (m) Interval (m) Cu (%) Co (%) (gm/tonne)
----------- ------------ ------- ------- ----------

DDH R08-02 66.5 - 75.5 9 0.1027 0.0554 2.2

DDH R08-03 42.0 - 49.0 7 0.4800 0.0201 5.1

DDH R08-06 81.0 - 84.0 3 0.2457 0.0254 0.6

These intersections include maximum values of 0.8503% Cu, 0.1800% Co and 8.4 gm/tonne Ag.

DDH R08-01 was drilled to test copper mineralization at surface, confirming its presence at 15 metres depth as an intensively limonitized leached zone. DDH R08-04 and DDH R08-05 were drilled to test a block fault model. This interpretation was confirmed: continuation of the mineralized sandstone has been offset across a steep-dipping normal fault. Contrary to the interpretation of earlier operators, there is no stratigraphic termination, just a fault offset. This leaves the mineralized zone open to the northwest.

Prospecting along the mineral bearing horizon has identified Cu showings along strike over a distance of 2500 metres to the south east of the drilling. An extensive soil geochemical grid was completed over the south east extension and has returned highly anomalous (up to 815 ppm Cu) soil values. The soil anomaly extends over the entire length of the survey which is located over the suspected extension of the mineralized horizon. The Company is encouraged by these results and anticipated an extensive program of geological mapping, sampling and diamond drilling for the 2009 field season.

Spirit Dream

Road access and limited trenching has been completed on the Company's 100% owned Spirit Dream Rockies property. Visible gold mineralization has been identified in a brecciated quartzite horizon of suspected Creston age over a strike length of 500 metres. Samples taken from new exposures where visible gold mineralization has been identified have been sent to Acme Labs to be analyzed.


On the Company's 100% owned Zeus property located in the Purcell mountain range, a total of 181 metres of diamond drilling was completed in two drill holes to test the extension of the quartz carbonated brecciated zone discovered in the 2007 diamond drill program. The holes all encountered the target-zone, however they did not intersect appreciable gold mineralization.


On the Company's 100% owned Gar property located in the Purcell mountain range, a total of 563 metres of diamond drilling was completed in three drill holes. The 2008 program tested the extension of the gold mineralization and a gold mineralized float train discovered in the 2007 trenching/ diamond drill program. The drill holes failed to intersect any significant gold mineralization with depth.


On the Company's 100% owned Lov property located in the Purcell mountain range, road access permitting was delayed due to regulatory delays involving a third party. These delays have now been resolved however weather has delayed the construction phase of the road to next year. The access is anticipated to be completed at the beginning of the next field season and a field program of geological mapping and sampling with follow-up diamond drilling is anticipated in 2009.


On the Company's 100% owned Eddy property located in the Purcell mountain range, additional geological mapping was completed, a trenching program has been outlined and permitting is presently underway.

This news release has been reviewed and approved by Gordon W. Turner, P. Geo, President and CEO of Ruby Red and hereby designated as a "Qualified Person" under National Instrument 43-101. Drilling services were provided by Lone Peak Drilling (0802603 BC Ltd.) of Kimberley, B.C., and analysis was performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C.

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.

Certain statements contained in this news 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. 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, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements and information.

Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; and the other factors described in our public filing available at Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news 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.

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