Mr. Nicholas Koo reports

RED LAKE GOLD INC. ANNOUNCES FINANCING

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

If the financing is completed, either in part or in whole, each unit shall consist of one common share of the issuer and one common share purchase warrant that entitles the holder of a warrant the right, upon further payment to the issuer, to acquire one additional common share of the issuer at an exercise price of eight cents per warrant share on any date prior to the date which is 60 months following the closing date of the financing or tranche thereunder.

Subject to a closing of the financing, the corporation intends to use the proceeds of the financing for working capital purposes and, where applicable, to advance its interests in the Whirlwind Jack gold project.

The issuer may pay a 6-per-cent cash finder's fee on certain subscriptions under the financing, which excludes cash finders' fees on subscriptions by insiders (as that term is defined by securities laws) who may, in turn, participate for greater than 25 per cent of the financing.

The financing will be subject to all applicable regulatory approvals, and any securities issued under the financing will be subject to a four-month-and-one-day hold period, pursuant to applicable securities laws of Canada.

Corporate update

The corporation requested the resignation of Jordan Harris (geoscientist in training) as an officer of the issuer (vice-president, exploration), and it has subsequently received and accepted said resignation, effective as at the date of this news release. The corporation extends its appreciation to Mr. Harris for his services and wishes him success with regard to his continuing professional designation application.

We seek Safe Harbor.