Red Eagle Mining Corporation (RDEMF)

[RobertJames]

Red Eagle Mining (RD.V)Acquires an Additional 35,910 Hectares at Santa Rosa



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2012) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) announces that it has entered into a Purchase Agreement with Bullet Holding Corp. ("Bullet"), a private company at arm's length to Red Eagle Mining, pursuant to which Red Eagle Mining has agreed to acquire certain mineral exploration rights totaling 35,910 hectares adjacent to Red Eagle Mining's Santa Rosa gold project in Colombia. In consideration for the property, Red Eagle Mining has agreed to issue 905,000 common shares to Bullet and grant Bullet a 1.5% net smelter returns royalty over the properties acquired. Closing of the acquisition is subject to the prior approval of the TSX Venture Exchange.

"This acquisition is an important step in accomplishing our objective of consolidating the Santa Rosa gold mining district. Red Eagle Mining now holds approximately 390 km² surrounding the San Ramon gold system in one of the most significant areas of historical gold production in Colombia," comments Ian Slater, Chief Executive Officer. "We are also very pleased to partner with Grupo de Bullet, one of the most experienced and long standing mining groups in Colombia."