Red River Resources announced drilling results at Tasmania

Tuesday, 10 Mar 2009

Red River Resources Limited announced that the discovery of significant tin mineralization from recent drilling at the Kara North Prospect south of the port of Burnie in northern Tasmania.

In collaboration with 50:50 Joint Venture partners Iron Mountain Mining Limited the company carried out a screening survey of RC cuttings from the Kara North Prospect, utilizing a Niton XRF field analyzer, during January 2009. As a consequence, over 570 new samples were submitted for XRF analysis for tin and iron. The laboratory results have substantially increased the number of +0.1% Sn intersections encountered by the Kara North drilling and include 41 meters 0.22% Sn in drill hole KNRC 036 as well as 51 meters 0.15% Sn in KNRC 021.

The prospect area is located 27 kilometers south of Burnie Port and is 7 kilometers away from the railway line connecting western Tasmania with Burnie. Burnie contains a stable work force with a strong mining culture as well as large workshops and is therefore an excellent base for a potential mining operation at Kara North.

Mineralization encountered by the drilling extends 900 meters in a north-south direction and is up to 400 meters wide. The structural geology of the Prospect area, particularly on its western flank has yet to be properly delineated. To this end, the JV partners commenced a diamond drilling program on March 5th 2009 designed to address this important deficiency in the evaluation of the Kara North mineralized system. Initially, four diamond drill holes are planned for a total of 700 meters of drilling.