Mr. Patrick Balit reports

RED EAGLE MINING CLARIFIES RIGHTS OFFERING PARTICIPATION

Red Eagle Mining Corp. has clarified the news release dated Aug. 11, 2017, announcing the closing of its rights offering. Of the 85,629,689 units issued under the offering, 72,786,911 units were subscribed for under the initial subscription privilege, of which, to Red Eagle Mining's knowledge after reasonable inquiry: (i) 34,901,678 units were issued to persons who were insiders before the offering or became insiders as a result of the offering; and (ii) 37,885,233 units were issued to all other persons. A total of 12,842,778 units were subscribed for under the additional subscription privilege, of which, to the knowledge of Red Eagle Mining after reasonable inquiry, none were issued to persons who were insiders before the offering or became insiders as a result of the offering.

About Red Eagle Mining Corp.

Red Eagle Mining is a gold producer focused on building shareholder value through acquiring, developing and operating gold projects in Colombia, a jurisdiction with prolific historical production but until recently limited modern exploration. Red Eagle Mining owns 100 per cent of the Santa Rosa gold project and controls Red Eagle Exploration Ltd., which owns 100 per cent of the Vetas gold project, California gold project and Santa Ana silver project and is actively consolidating additional high-grade precious metal deposits in Colombia.

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