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 three million common share units to be issued at a price of five cents per unit, which represents the most recent closing price of the issuer's publicly traded security.

The financing and its terms are governed by the policies of the Canadian Securities Exchange, on which the corporation is listed.

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 Red Lake Gold, to acquire one additional common share of the issuer at an exercise price of five cents per warrant share on any date prior to the date that 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.

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.

We seek Safe Harbor.