Mr. John Hickey reports

RED MILE MINERALS CORP. PROPOSES SHARE CONSOLIDATION

Red Mile Minerals Corp. has mailed its notice of annual general and special meeting, management information circular, and form of proxy for the annual general and special meeting of holders of common shares to be held on Dec. 18, 2014. The meeting materials have also been filed on SEDAR and are available under the company's SEDAR profile.

As part of the agenda for the meeting, the company is proposing to consolidate the issued and outstanding common shares of the company on the basis of up to one postconsolidation share for five preconsolidation shares. The consolidation is subject to TSX Venture Exchange as well as shareholder approval, and will be considered by shareholders at the meeting.

As of Nov. 23, 2014, the company had 25,689,620 common shares issued and outstanding. If approved and implemented, the consolidation will occur simultaneously for all of the company's common shares and will affect all shareholders uniformly. Management expects that the ratio for the consolidation will be fixed and the consolidation implemented as soon as practical following the meeting. Assuming the proposed consolidation occurs at a ratio of 1:5, the company's outstanding shares will be reduced to approximately 5,137,924 common shares. The consolidation will not affect any shareholder's percentage ownership interest in the company, except to the extent that the consolidation would otherwise result in any shareholder owning a fractional share. No fractional shares will be issued, but instead if the consolidation would otherwise result in a shareholder holding a fraction of a share, such fractional share, if less than one-half, shall be rounded down to zero and, if equal to or greater than one-half, shall be rounded up to one and added to the number of shares which the shareholder is entitled to receive. In addition, at the meeting, the company has also proposed to continue the company from being governed under the Business Corporations Act (British Columbia) to the Business Corporations Act (Ontario), and as a result, also approve a new set of bylaws for the company consistent with its new governing legislation.

The proposed consolidation, continuation and new bylaws are all detailed in the information circular that has been distributed to shareholders in connection with the meeting. A copy has also been made available electronically on SEDAR.