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-Previously Announced Bought Deal Financing Increased to $ 15,000,000

Red Eagle Mining Corporation (TSX: R, BVL: R, OTCQX: RDEMF) is pleased to announce today that, due to strong demand, Red Eagle Mining has increased the size of its previously announced public offering to 20,000,000 common shares (the 'Common Shares'), at a price of $ 0.75 per Common Share for gross proceeds of approximately $ 15,000,000 (the 'Offering'). The Offering is being led by BMO Capital Markets. Red Eagle Mining has granted underwriters in the Offering an option, exercisable at the offer

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