Mr. Ryan Kalt reports

RED LAKE GOLD INC. -- FINANCING

Red Lake Gold Inc. intends to conduct a non-brokered common share unit financing consisting of up to one million common share units to be issued at a price of five cents per unit.

Each unit will consist of one common share of the corporation and one common share purchase warrant that entitles the holder of a warrant, upon further payment to the corporation, to acquire one additional common share of the corporation at an exercise price of six cents on any date prior to the date which is 36 months following the closing date of the common share unit financing or tranche thereunder.

Red Lake Gold intends to use the proceeds of the common share unit financing for working capital and general corporate purposes, including, but without limitation to, office, accounting, legal, regulatory, advisory, stock exchange, managerial and/or other expenses, as well as fees and costs incurred in the course of the corporation maintaining or advancing its business.

In an effort to support the working capital position of the company, insiders (as that term is defined by securities laws) of Red Lake Gold may participate for greater than 25 per cent of the common share unit financing.

The corporation may pay a 6-per-cent cash finder's fee on certain subscriptions under the common share financing, which excludes cash finders fees on any subscriptions by insiders (as that term is defined by securities laws).

The common share unit financing is subject to all applicable regulatory approvals and the customary four-month hold period, pursuant to applicable securities laws of Canada.

We seek Safe Harbor.