Mr. Patrick Balit reports

RED EAGLE MINING CLOSES BOUGHT DEAL FINANCING

Red Eagle Mining Corp. has closed its previously announced bought deal financing of 20 million common shares at a price of 75 cents per common share for aggregate gross proceeds of $15-million. The underwriters also exercised the overallotment option in full and purchased an additional three million common shares for additional gross proceeds of $2.25-million.

The common shares were issued by way of public offering in all of the provinces of Canada, other than Quebec, pursuant to a short form prospectus dated Feb. 14, 2017, and were underwritten by a syndicate of underwriters led by BMO Capital Markets and including National Bank Financial Inc.

The net proceeds of the offering will be used to advance exploration of the Santa Rosa gold project and for working capital purposes.

About Red Eagle Mining Corp.

Red Eagle Mining is a gold producer with an experienced mine development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining owns 100 per cent of the Santa Rosa gold project where the San Ramon gold mine has commenced production. Red Eagle Mining also controls CB Gold which owns 100 per cent of the California gold, Vetas gold and Santa Ana silver projects, and is actively consolidating additional high-grade precious metal deposits in Colombia.

We seek Safe Harbor.