VANCOUVER, Aug.18, 2015 /CNW/ - Red Eagle Mining Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) is pleased to announce the commencement of construction at Red Eagle Mining's 100% owned fully permitted and fully financed San Ramon Gold Mine in Antioquia, Colombia. Construction will unfold over the next twelve months, with production expected to commence during the second half of 2016.
Earthworks have commenced with clearing of the ground for the underground mine access and the conventional flotation/carbon-in-leach processing plant. Red Eagle Mining has awarded the bulk earthworks contract to Consorcio San Ramon Proyecto Civil, a joint venture between Gisaico S.A. and Minconstrucciones S.A., Medellin-based infrastructure engineering and construction groups. Minconstrucciones has also completed upgrading the eight kilometre road between paved Highway 25 and the San Ramon Gold Mine.
"Through our team's hard work, dedication, and continuous engagement with all stakeholders, we have made outstanding progress," comments Bob Bell, Chief Operating Officer. "Once in production, the San Ramon Gold Mine will be the largest producing gold mine in Colombia and aims to set the standards for the future of the gold mining industry in Colombia."
Please follow Red Eagle Mining's progress in constructing the San Ramon Gold Mine with weekly photo uploads to our flickr page.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and development corporation with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 100 square kilometre historic Santa Rosa Gold Project located in the Antioquia Batholith. Construction is underway at the fully permitted and fully financed San Ramon Gold Mine with production expected to commence during the second half of 2016.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Red Eagle Mining Corporation
For further information: on Red Eagle Mining Corporation please contact: Patrick Balit, Director Corporate Development, Red Eagle Mining Corporation, Suite 920 - 1030 West Georgia Street, Vancouver, BC, V6E 2Y3, +1 778 372 2558, +1 604 360 5722 mobile, [email protected], www.redeaglemining.com