Red River Resources Limited

Miaree

In early 2009 a metal detector gold rush resulted in the discovery of about 1,000 ounces of gold in an area east of E47/1309. Evaluation of the geology of this area suggested that portion of E47/1309 contains good gold prospectivity. As a consequence the Red River/Iron Mountain JV has carried out a number of stream sediment and soil geochemical surveys over the ground deemed to be favourable resulting in the discovery of numerous locations carrying anomalous gold content. Peak values range up to 0.6 g/t gold in soils.

In July 2010 soil sampling by the JV discovered the Bergsma Prospect, a 2 km long arsenic-gold anomaly occurring in a splay fault zone oblique to the Sholl Shear Zone, a major crustal suture. The arsenic-gold anomaly also is adjacent to a granite-greenstone contact and its geometry and aerial extent suggest that it may be a mineralized halo over a porphyry intrusive. Further evaluation of this exciting prospect is currently ( September 2010) being undertaken preparatory to a drilling program planned for after an Aboriginal Heritage Survey.

Iron Mountain has earned 25% in the project by the expenditure of $1.25 million and is now currently earning a further 24% by the expenditure of a further $1.5 million.