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File: News Release - 2015 - August 4 -Otu Gold Proposed Transaction Terminated- FINAL.doc



News Release

Proposed Transaction to Acquire  Otu Gold Property in Colombia is Terminated

 
August 4, 2015 TSXV Symbol:  ROB


Vancouver, British Columbia - Further to its news release of July 24, 2014, Red Hut Metals Inc. (the "Company" or "Red
---> Hut") announces that the proposed transaction with Otu Gold Ltd. ("Otu Gold")  dated July 22, 2014 (the "Transaction"
--->) has been terminated.  The Transaction contemplated the acquisition by Red Hut of all of the issued and outstanding s
--->hares of Otu Gold by way of amalgamation.   
Otu Gold is a Bermuda corporation that, directly or through its Colombia based corporate subsidiaries, owns mineral ri
--->ghts over 80,076 hectares in the Segovia Gold Belt, in the Department of Antioquia, in northeastern Colombia. 
The Transaction required that Red Hut complete a financing of a minimum of $5,000,000 to a maximum of $8 million.  Alt
--->hough Otu Gold's principals gave repeated extensions to the initial deadline dates and worked with the Company on nume
--->rous investor presentations, Red Hut has been unable to complete the required financing in the current market conditio
--->ns.
Red Hut will continue to explore its Conuma Property on the central west coast of Vancouver Island, and to look for ot
--->her opportunities.  The Company expects the trading halt to be lifted shortly, upon which trading in its shares will r
--->esume.  


ON BEHALF OF THE BOARD

Signed "Robert Eadie"   
Robert Eadie, President, Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936 Website: www.redhutmetals.com