March 4, 2016 – Red Eagle Mining Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) announces that it has been issued 13,702,562 common shares (“Shares”) of CB Gold Inc. (“CB Gold”). The CB Gold Shares compensate Red Eagle Mining, which issued 2,219,816 Red Eagle Mining common shares to the titleholders of the La Triada concession (“La Triada”) pursuant to the agreement dated March 28, 2012 as amended between CB Gold and La Triada in order to meet CB Gold’s property obligations with respect to the Vetas Gold Project.
Subsequent to the share issue, Red Eagle Mining now holds an aggregate of 223,242,788 Shares of CB Gold, representing 68% of the issued and outstanding CB Gold Shares. Red Eagle Mining acquired the Shares for investment purposes only and may acquire additional securities of CB Gold in the future. The Shares are subject to a four month hold period from the date of issuance. |