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File: PRDec22016.docx

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH T
--->HIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
RED EAGLE MINING FILES PRELIMINARY BASE SHELF PROSPECTUS
December 2, 2016 - Red Eagle Mining Corporation (TSX: R, BVL: R, OTCQX: RDEMF) announces it has filed a shelf prospect
--->us (the "Prospectus") for up to $100,000,000 with the securities regulatory authorities in each of the provinces of Ca
--->nada, other than Quebec. 
The Prospectus will allow Red Eagle Mining to offer up to an aggregate initial offering price of $100,000,000 of certa
--->in common shares, convertible securities or combination of such securities (collectively, the "Securities") in amounts
--->, at prices and on terms to be determined based on market conditions over the 25-month period following the date Red E
--->agle Mining obtains regulatory approval for the Prospectus. The net proceeds from the sale of any Securities will be u
--->sed for purposes as set out in the applicable Prospectus supplement.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any 
--->sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to regist
--->ration or qualifications under the securities laws of any such jurisdiction.
A copy of the Prospectus can be found on sedar.com or may be obtained from Red Eagle Mining upon written request from 
--->the contact below.
About Red Eagle Mining
Red Eagle Mining is a gold producer with an experienced mine operations and development team.  Management is focused o
--->n building shareholder value through acquiring 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 M
--->ining owns 100% of the Santa Rosa Gold Project, where the San Ramon Gold Mine has commenced production.  Red Eagle Min
--->ing also controls CB Gold which owns 100% of the Vetas Gold and Santa Ana Silver Projects and is actively consolidatin
--->g additional high grade precious metal deposits in Colombia.

For further information on Red Eagle Mining Corporation please contact:

Patrick Balit
Vice President Corporate Development
Red Eagle Mining Corporation
Suite 2348 - 666 Burrard Street
Vancouver, BC, V6C 2X8
+1 778 372 2558
+1 604 360 5722 mobile
balit@redeaglemining.com
www.redeaglemining.com

This news release includes forward-looking statements that are subject to risks and uncertainties.  All statements wit
--->hin, other than statements of historical fact, are to be considered forward looking.  Although Red Eagle Mining believ
--->es the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements 
--->are not guarantees of future performance and actual results or developments may differ materially from those in forwar
--->d-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking stat
--->ements include market prices, exploitation and exploration successes, cost overruns and mining delays, continued avail
--->ability of capital and financing, and general economic, market or business conditions.  There can be no assurances tha
--->t such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such unce
--->rtainties.  We do not assume any obligation to update any forward-looking statements. This news release does not const
--->itute an offer to sell or a solicitation of an offer to sell any securities in the United States.  The securities have
---> not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities 
--->Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless r
--->egistered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is
---> available.