August 21, 2015 09:14 ET

STRACON GyM S.A. Announces Purchase of Additional Common Shares of Red Eagle Mining Corporation

TORONTO, ONTARIO--(Marketwired - Aug. 21, 2015) - STRACON GyM S.A. ("STRACON GyM") announced today that it purchased an additional 16,769,680 common shares (the "Offered Shares") of Red Eagle Mining Corporation ("Red Eagle") on August 20, 2015, pursuant to a private placement, at a price of CAD$0.27 per Offered Share, representing 9.97% of the issued and outstanding common shares of Red Eagle.

As a result of this acquisition, STRACON GyM now owns an aggregate of 33,539,360 common shares of Red Eagle representing approximately 19.94% of the outstanding common shares of Red Eagle after giving effect to the acquisition.

STRACON GyM is acquiring the Offered Shares for investment purposes. Depending upon its evaluation of the business, prospects and financial condition of Red Eagle, the market for Red Eagle securities, general economic conditions and other factors, STRACON GyM may acquire more or sell some or all of its securities of Red Eagle.

STRACON GyM's address is Av. Republica de Panama 3531, Office 1101, Lima 27, Peru. For further information please refer to the Early Warning Report posted on SEDAR or contact Dennis Gray at in order to obtain a copy of the report.

Forward-Looking Information

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to STRACON GyM's future intentions regarding the securities of Red Eagle. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and STRACON GyM is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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