Zinc

[Lone Clone]

Redcorp Ventures Ltd.: Tulsequah Project Drilling Update-High Grade Intercept Results

09:02 EDT Tuesday, May 15, 2007

http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2007) - REDCORP VENTURES LTD. (TSX:RDV) and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary, (together the "Company"), are pleased to announce an update on the 2007 exploration drilling program.

Drilling commenced in the Big Bull area of the Tulsequah Project on April 21, 2007. This release provides information on the initial drilling in the vicinity of previous hole BB06062, which intersected high-grade massive sulphides, that was reported in a Company news release dated November 27, 2006. The first four holes have been drilled in the immediate vicinity of this target to better define the extent and geometry of the new mineralized horizon. Further holes are being drilled to test the mineralized zone extension to the north.

The first 2007 hole, BB07065, was designed to undercut BB06062 by approximately 30 meters. Basaltic intrusives were encountered at the target depth and no significant mineralization was found.

Hole BB07066 was collared to target mineralization approximately 30 meters north along the projected trend of the 60-62 zone of mineralization. The hole returned 6.15 meters (core length) grading 11.34 grams per tonne (g/t) gold, 228.23 g/t silver, 0.51% copper, 11.23% lead and 22.32% zinc. True thickness of this interval is estimated to be 3.5 meters.

 
                           Inter-   True 
                             val   Width     Au      Ag    Cu     Pb     Zn 
 Hole ID       From     To    (m)     (m)  (g/t)   (g/t)   (%)    (%)    (%) 
 -------------------------------------------------------------------------- 
 BB06062(i)   138.0  145.1  7.08     5.0  20.00  253.42  0.66  11.59  26.63 
 BB07066      138.2  144.3  6.15     3.5  11.34  288.23  0.51  11.23  22.32 
 -------------------------------------------------------------------------- 
 -------------------------------------------------------------------------- 
 (i) Intersection previously reported 
  
 

Visually, the mineralization found in this hole is similar to that found in BB06062. In addition, the mineralization found in the two holes is hosted in similar geology, and also features associated footwall alteration. Company geologists have confirmed the presence of coarse gold in the preserved core and have approved Eco-Tech Laboratories' recommendation to perform metallic screen fire assays on the mineralized samples in hole BB07066. The results of these assays will be released when available.

BB07067 was collared to test further north along the projected trend of the 60-62 zone mineralization. No massive sulphide mineralization was cut in this hole but geology similar to that which hosted the mineralization in BB07066 was present.

BB07068 was designed to test the 60-62 zone to the south of BB06062. This hole cut weak alteration similar to that found below the mineralization of BB06066 in the position of the ore horizon. No assay results from this hole are available at this time.

The Company is working with this new drillhole information to update the model for the distribution of mineralization which will assist in planning future drillholes.

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 Tulsequah 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 Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, metallurgical response and net smelter return valuations, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay back period, timing of development and permitting time lines; 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 07-20

FOR FURTHER INFORMATION PLEASE CONTACT:

Redcorp Ventures Ltd.
Troy Winsor
Manager of Investor Relations
1-888-225-9662


Websites: www.redcorp-ventures.com / www.redfern.bc.ca