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Redcorp Ventures Ltd.: Drilling on Lagoa Salgada Concession Discovers New Massive Sulphide Zone
Monday March 12, 9:00 am ET

http://biz.yahoo.com/iw/070312/0225421.html

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 12, 2007 -- REDCORP VENTURES LTD. (Toronto:RDV.TO - News) and its wholly-owned subsidiary, Redcorp Empreendimentos Mineiros Unipessoal Lda ("REM") (together, the "Company"), are pleased to provide an update on the Lagoa Salgada Project. The Lagoa Salgada Project is located in Southern Portugal, and covers 415 square kilometres of the Iberian Pyrite Belt, one of the most prolific geological terrains in the world for massive sulphide deposits.

Rio de Moinhos Area Drilling

A recently completed drill hole, RM07004, cut 2.5 meters of semi-massive to massive sulphides from 436.6 to 439.10 meters down the hole. This new discovery is located in the Rio de Moinhos area of the Lagoa Salgada Project. Previous operators had drilled two holes in the area, RM1 and RM2. Following up on prospective geology encountered in that historical work, the Company has been drilling targets generated using a geophysical model recently updated with the results from a series of basement soundings collected in the fall of 2006.

This new discovery is situated approximately 11.5 km to the west-southwest of the Lagoa Salgada massive sulphide deposit, and may represent the first intersection of an entirely new massive sulphide deposit within the Iberian Pyrite Belt. The mineralization encountered thus far is dominantly pyrite, with trace amounts of base metal sulphides in the hangingwall of the mineralization. Samples are being sent to Eco-tech Laboratories of Kamloops, BC for assay.

In addition to the massive sulphide mineralization, a large zone of jasper was cut in the hole from 164.90 to 200.80 meters. This jasper horizon is of particular interest as in the Iberian Pyrite Belt jaspers are often the lateral equivalent of massive sulphide mineralization. A down-hole geophysical survey has been completed on RM07004, which was successful in detecting off-hole conductive responses. The final survey results will be used to plan follow up drill holes.

RM07003, which was the first Company hole to be drilled in the Rio de Moinhos area, cut a series of sericite-altered mafic tuffs, followed by a sequence of graphitic shales. The geology encountered in this hole was encouraging, and identified volcanic rocks and associated alteration prospective for the presence of massive-sulphide deposits.

"The presence of a massive sulphide horizon in this geological environment is very important and greatly improves the potential to find a significant deposit. The Company is very excited about this discovery," stated Terry Chandler, Redcorp President.

In addition, the Company is pleased to report on drill holes drilled close to the Lagoa Salgada massive sulphide deposit.

Lagao Salgada Deposit Area Drilling

LS06043 cut a total of 24.7 meters of saprolite, which is believed to be the weathered equivalent of massive-sulphide mineralization. Individual samples within the saprolite graded up to 3.12% Zn and 16.6 gpt Ag over 1.3 meters. At the base of the saprolite, 1.85 meters of less-weathered pyritic massive sulphide was recovered from this hole and graded 2.08% Zn and 17 gpt Ag. This hole expands the known extent of massive-sulphide mineralization to the south by approximately 115 meters.

LS06044 was drilled to the south and west of the Lagoa Salgada massive-sulphide deposit to test a geophysical anomaly. Altered mafic volcanics were cut by the hole but no significant mineralization was intercepted.

LS06045 was drilled to the northeast of the Lagoa Salgada massive-sulphide deposit, as a follow up to the encouraging geology cut in hole LS05038. The hole cut a series of green shales and volcanics. Green shales have been interpreted to be the hangingwall unit to the massive-sulphide horizon, however, no massive sulphides were cut in this hole.

LS05046 targeted a prominent gravity anomaly northeast of the Lagoa Salgada deposit. This drillhole encountered bedrock at a higher elevation than modelled and the anomaly has been explained as a bedrock high.

LS07047 was drilled to the immediate north of the Lagao Salgada deposit across an interpreted cross fault. The hole encountered 243.22 meters of volcanics and breccias with varying intensities of footwall-style, sericite-pyrite alteration, including local quartz-pyrite stockwork. This new information has upgraded a series of anomalies trending to the north from LS07047. These anomalies will be evaluated for drilling as the drill program continues. In addition, the Company is waiting for assay results for this drillhole.

Geophysical Results

In addition to the new targets defined by the updated geophysical model in the Rio de Moinhos area, an additional cluster of anomalies was identified near the town of Agua Derramada. These newly identified targets are being evaluated for possible further drilling.

Additional Work

Redcorp has initiated a NI43-101 compliant resource estimate on the Lagoa Salgada Deposit. Wardrop Engineering has been retained as the independent QP for this work. The resource estimate is expected to be completed in the summer of 2007.

Quality Assurances and Controls (QA/QC)

For the 2006-2007drill program, sampling has been conducted and supervised by Redcorp geologists using established documented sampling procedures. Samples are shipped directly to Eco-Tech Laboratories in Kamloops for sample preparation, ICP analyses, wet assays for base metals and fire assays for gold and silver, using industry-standard procedures. The Company has a comprehensive QA/QC program in place to ensure sample and assay integrity including field blanks, duplicate samples and standards for base-metals, gold and silver.

Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.

Terence Chandler, President

Megan O'Donnell, P.Geo. and Michael G. Allen, P.Geo., are the qualified persons, as defined by National Policy 43-101, supervising the exploration program at the Lagoa Salgada Project. Eco-Tech Laboratories of Kamloops BC is an accredited assay laboratory conducting the sample analyses and assays using standard techniques.

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta). Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions.

More specifically, forward-looking information contained herein includes, without limitation, statements concerning the Company's plans at its Lagoa Salgada Project, mineral reserve and mineral resource estimates and timing of expected activities; all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with the Company's expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to the Company's mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes, the potential for delays in exploration or development activities, timely completion of future NP 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations,

continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form, dated March 28, 2006, and in each subsequent Management's Discussion and Analysis. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

News Release 07-08


Contact:

Contacts:
Redcorp Ventures Ltd.
Troy Winsor
Manager of Investor Relations
1-888-225-9662
Website: http://www.redcorp-ventures.com


Source: Redcorp Ventures Ltd.