Drill Results from the Liaoning Gold Project, Northeast China

    VANCOUVER, March 22 /CNW/ - Red Dragon Resources Corp. (the "Company") is
pleased to announce assay results from the recently completed drill program on
the Liaoning Gold Project in northeast China.
    The drill program (4,597m in 30 holes) tested a number of induced
polarization (IP) anomalies over a distance of 1.5 kilometres on the Dingtun
property, one of four properties that comprise the Liaoning Project. The IP
anomalies are located about fifteen kilometres southeast of the Paishanlou
Mine, an open pit mine with an initial reported gold reserve of 11 million
tonnes grading 4 grams/tonne gold (1.4 million ounces). The reserve is defined
under Chinese terminology and not compliant with NI 43-101 and therefore,
should not be relied upon. The mine commenced production in 1998 and is
currently producing about 60,000 ounces of gold per year.
    The IP anomalies are coincident with auriferous pyritic quartz veins and
breccias that are hosted within a low angle fault zone that strikes northwest
and dips shallowly to the west. Near surface, the auriferous quartz veins and
breccias are exposed in historic trenches and an underground tunnel over a
strike length of 300 metres. Previously reported chip sampling of one of these
trenches by the Company returned 2.99 grams/tonne gold over 7 metres.
    The majority of the drilling (28 holes) was completed on sections spaced
50 metres apart from Section 14N to Section 24N. Drill holes were drilled at
an azimuth of 60degrees with multiple collar inclinations on some set-ups. The
central portion of the mineralized vein structure on Sections 16 to 20 has an
average thickness of 16 metres and can be traced over 300 metres down dip.
North and south of these sections, the mineralized structure bifurcates into a
number of thinner, lower grade veins separated by altered granitic rocks.
    Selected drill results from the central portion of the vein structure are
shown in the table below.

    Drill  Section    From      To      Interval  Estimated   Silver   Gold
    Hole              (m)       (m)       (m)       True      (g/t)    (g/t)
    ZK161    16N     46.00     57.00     11.00      9.49      10.7      1.02
    ZK171    17N     21.52     33.15     11.63     10.05      13.5      1.21
    ZK181    18N     60.00     71.47     11.47      9.86      29.9      1.02
    ZK191    19N     30.61     63.49     32.88     28.27      31.7      3.17
    ZK202    20N     42.85     70.89     28.04     24.50      13.6      1.02

    A complete table of drill results is available on the company website at
    The company is currently reviewing the 2006 exploration results from the
Liaoning Project along with our other projects in Canada and China in order to
prioritize and budget for the 2007 exploration programs.

    Red Dragon Resources Corp. is a mineral exploration company actively
exploring for a number of commodities in China and Canada. Further information
on Red Dragon Resources Corp. and the Liaoning Project can be obtained on the
Company's website at www.reddragonresources.com. or by calling Red Dragon
Resources Corp. at (604) 602-8188 or Brian Harbour at Harbour Financial Inc.
at (403) 813-5832.


SOURCES CORP. Per: "Alvin Jackson" Alvin Jackson, Chairman and Chief Executive Officer Garnet L. Dawson, P.Geo., is Vice-President of Exploration and overall QP for Red Dragon Resources Corp. has reviewed the contents of the above News Release. Jim Cuttle, P.Geo., is the project QP and supervised the 2006 Liaoning Exploration Program that was carried out by the Company's geological staff in China. Drill core samples were analyzed at Intertek Caleb Brett in Beijing, China. The core was sawn in half with one half archived and one half submitted to the lab where it is crushed, split and pulverized to -150 mesh. Gold and silver assays are by fire assay with atomic absorption finish. The company has inserted standards, blanks and repeats as part of its quality assurance and quality control program in addition to completing a number of check assays at external laboratories in Canada. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

For further information:

For further information: Red Dragon Resources Corp., Tel: (604)
602-8188, Fax: (604) 677-6243, Website: www.reddragonresources.com

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