Ruby Red updates short form offering



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

    TSX VENTURE: RRX

    CALGARY, Aug. 15 /CNW/ - Further to its press release of June 20, 2007,
Ruby Red Resources Inc. ("Ruby Red") confirms that it has engaged Northern
Securities Inc. ("Northern") to 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, with $0.24 being allocated to
each flow-through share, $0.22 allocated to each common share and nil to each
Warrant. 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 dated effective July 31, 2007 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. Closing of the offering is expected to occur on or about August 29,
2007.

    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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