Ruby Red Resources announces brokered financing



    /NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO UNITED
    STATES NEWS WIRE SERVICES/

    CALGARY, June 20 /CNW/ - Ruby Red Resources Inc. ("Ruby Red") announces
that it has executed an engagement agreement with Northern Securities Inc.
("Northern"). Northern will act as lead agent in connection with an offering
of units ("Units") of Ruby Red. The Units will be offered at a price of
$0.70 per Unit for gross proceeds of a minimum of $980,000 (1,400,000 Units)
and a maximum of $1,988,000 (2,840,000 Units). Each Unit will consist of two
common shares issued on a "flow-through" basis, one common share and one
common share purchase warrant of Ruby Red. Each warrant will entitle the
holder to purchase one additional common share of Ruby Red at a price of $0.35
per share for a period of 18 months from the closing of the offering. The
Units will be offered by way of a Short Form Offering Document and the net
proceeds from the offering will be used to fund Ruby Red's exploration,
development and acquisition programs as well as for general corporate
purposes.
    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 135 mineral claims (approximately 40,000
hectares), all located within 35 kilometres of Cranbrook, B.C. in the Purcell
and Rocky Mountains.

    Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. 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, which include but are not
limited to risks inherent in the mining industry, regulatory and economic
risks, and risks associated with the company's ability to implement its
business plan. The company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
securities offered have not and will not be registered under the United States
Securities Act of 1933, as amended, or any state securities laws and may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirement.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT
    RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.





For further information:

For further information: Randall Tronsgard, Vice-President, Corporate
Development of Ruby Red, at (403) 770-1346

Organization Profile

RUBY RED RESOURCES INC.

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