VANCOUVER, March 17, 2015 /CNW/ - Red Eagle Mining Corporation (TSX-V: RD, OTCQX: RDEMF) is pleased to announce that Lycopodium Minerals Canada Ltd. ("Lycopodium"), a leading international project management and engineering firm, has been awarded the engineering, procurement and construction management ("EPCM") contract for Red Eagle Mining's 100% owned San Ramon Gold Mine, located in Antioquia, Colombia. Lycopodium will be responsible for:
- Project management;
- Engineering and preparation of design documentation;
- Coordination and review of the detailed engineering;
- Procurement and contract management;
- Construction management;
- Commissioning management; and
- Performance testing.
"We are very pleased to have engaged Lycopodium as EPCM contractor for the San Ramon Mine," comments Bob Bell, Chief Operating Officer. "Lycopodium is very familiar with San Ramon, having worked on the project from an early stage, including leading the Feasibility Study and engineering design work. We have been impressed with their innovative design concepts resulting in improved efficiencies and cost savings that have been reflected in the Feasibility Study and the on-going detailed engineering."
About Red Eagle Mining
Red Eagle Mining is a gold exploration and development company 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 km² historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the fully permitted San Ramon Gold Mine where a positive Feasibility Study supports project development. Construction is scheduled to commence during 2015, subject to the completion of project financing which is well advanced.
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: For further information on Red Eagle Mining Corporation contact Ian Slater, Chief Executive Officer, or: Patrick Balit, Director Corporate Development, Red Eagle Mining Corporation, Suite 920 - 1030 West Georgia Street, Vancouver, BC, V6E 2Y3, +1 604 638 2545, [email protected], www.redeaglemining.com; James Beesley, Investor Relations, [email protected], +1 604 682 4600, +1 855 682 4600 toll free, +1 778 389 7715 mobile