Mr. Edward Yew reports

GREAT RED LAKE GOLD CORP. ENTERS INTO OPTION AGREEMENT TO ACQUIRE THE BILTON-BROWN PROPERTY

Great Red Lake Gold Corp. has entered into an option agreement with BB GeoIntelligence Inc., pursuant to which the company has been granted the sole, exclusive and irrevocable right and option to earn and acquire a 100-per-cent legal and beneficial interest in and to the mining claims and other mineral tenure comprising the Bilton-Brown property, subject to certain pre-existing royalty obligations and a new royalty to be granted to the optionor upon exercise of the option.

Under the terms of the option agreement, the company may earn its interest in the property by making the following payments to the optionor and financing the following exploration expenditures on the property: (i) on signing, $25,000 in cash and Class A voting common shares of the company having an aggregate value of $25,000; (ii) within 12 months of the effective date of the option agreement, $75,000, of which up to 50 per cent may be paid, at the company's election, through the issuance of shares; (iii) within 24 months of the effective date of the option agreement, $100,000, of which up to 50 per cent may be paid, at the company's election, through the issuance of shares; (iv) minimum exploration expenditures of $125,000 within 12 months of the effective date; and (v) total exploration expenditures of at least $200,000 within 24 months of the effective date. Excess expenditures may be carried forward and credited to subsequent periods.

The option agreement was negotiated on an arm's-length basis to the company. No finders' fees were payable in connection with the option agreement.

Any shares issued under the option agreement will be issued from treasury and, where applicable, the number of shares issuable will be determined using the deemed issue price mechanics set out in the option agreement, including a 15-day VWAP (volume weighted average price) formula, subject to the minimum price permitted by the Canadian Securities Exchange. All share issuances remain subject to applicable corporate, securities and stock exchange requirements.

Upon exercise of the option, the company will acquire a 100-per-cent legal and beneficial interest in the property, subject to permitted encumbrances, the existing royalty obligations identified in the option agreement and a 2.0-per-cent net smelter returns (NSR) royalty to be granted to the optionor pursuant to a royalty agreement to be entered into at that time. The company will have a one-time right, after exercise of the option and prior to commercial production, to repurchase 50 per cent of that royalty (being a 1.0-per-cent net smelter return royalty) for cash consideration of $800,000.

Completion of the transactions contemplated by the option agreement remains subject to receipt of all required approvals, including applicable stock exchange approval and the delivery of the transfer acknowledgements required under the existing royalty obligations. There can be no assurance that all required approvals will be obtained on terms acceptable to the company or at all.

The property represents an opportunity to gain exposure to a historically mineralized copper district in the broader Iron Bridge-Bruce Mines-Blind River area of Ontario, where past-producing copper operations and documented copper occurrences are associated with Proterozoic intrusive and sedimentary host rocks. The property is underlain by a compelling Nipissing diabase/diorite-hosted copper model, with historical shallow copper intercepts and untested EM (electromagnetic) conductors offering a focused, low-cost path to validate and advance priority copper targets.

The scientific and technical information contained in this news release has been reviewed and approved by Mark Richardson, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Great Red Lake Gold Corp.

The company is a mineral exploration and development company. Its activities consist of acquiring, exploring and developing mineral properties. The company expects to be primarily active in mineral exploration in Ontario, Canada, and anticipates that a material portion of its existing treasury will be used to finance exploration work on the Red Lake gold camp located in Ontario, Canada.

We seek Safe Harbor.