(via Thenewswire.ca)
VANCOUVER, BRITISH COLUMBIA -
In April 2012, the Company granted an option on its 50% ownership in the property to Caledon Resources Inc. ("Caledon") in consideration of a commitment to spend $500,000 on the property within three years of the date of this agreement and make a payment to Red Mile of $250,000. Caledon has terminated its option as of June 15, 2012
About Red Mile Minerals
Red Mile Minerals is a tightly held mineral exploration company with a gold property along the prolific Destor-Porcupine gold-producing region in Ontario and the Dorset Property in Baie Verte, Newfoundland. Red Mile continues to seek additional mineral exploration opportunities where the company's exploration expertise and corporate share structure has the potential to substantially enhance shareholder value. Currently there are 17,125,000 shares issued and outstanding.
On behalf of the Board of Red Mile Minerals Corporation
"John Hickey"
President and CEO
For more information, please contact:
John V. Hickey, President & CEO, (416) 637-2139
Email: office@redmileminerals.com Website: www.redmileminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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