Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce the complete NI 43-101 Technical Report pertaining to the positive Preliminary Economic Assessment  for the San Ramon Gold Deposit on its 100% owned Santa Rosa Gold Project located in Antioquia, Colombia, has been filed. The Technical Report is available on www.sedar.com.

Highlights include (all amounts in US$):

--  Assuming a long-term forecast gold price of $1,300/ounce gold: pre-tax

    Net Present Value (5%) is $152 million, Internal Rate of Return is 47%

    and payback is 1.4 years;

--  Project capital costs of $73 million plus $11 million contingency and $7

    million of recoverable VAT;

--  Year one production of 87,000 ounces of gold at a fully diluted grade of

    8.1 grams gold per tonne and post-tax cash flow of $61 million;

--  Average cash costs of $540/ounce.

Table 1 - Summary of San Ramon Economic Results

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$1,300/Ounce Gold                                Pre-Tax           Post-Tax

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Net Cash Flow                          $     211 million  $     159 million

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Net Present Value (5%)                 $     152 million  $     113 million

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Internal Rate of Return                               47%                37%

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Payback                                        1.4 years          1.7 years

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Table 2 - Summary of San Ramon Key PEA Data

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Average Annual Production                                     51,000 oz/year

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Processing Rate                                             1,000 tonnes/day

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Life of Mine ("LOM")                                                10 years

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Initial Capex (incl. $11M contingency)                           $84 million

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Cash Costs                                           $540/ounce or $76/tonne

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Years 1-5 Fully Diluted Processed Grade            5.38 grams gold per tonne

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LOM Fully Diluted Processed Grade                  4.76 grams gold per tonne

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Gold Recovery                                                            93%

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Going forward, the planned work programme includes:

--  The current comprehensive metallurgical programme continuing throughout

    the remainder of 2013 with respect to higher grade ores commensurate

    with underground mining;

--  Permitting including filing the Environment Impact Assessment, currently

    being prepared by Tetra Tech, Inc.;

--  Development of the decline and planned underground development;

--  Infill drilling from the planned underground development to increase

    confidence in the resource model and mitigate mining risk;

--  Completion of a Definitive Feasibility Study; and

--  Exploration of the 320 km2 Santa Rosa Gold Project, including testing

    with core drilling of a number of prospective targets identified to

    date.

The PEA was prepared by Mine Development Associates in accordance with the definitions in Canadian National Instrument 43-101. The PEA is considered preliminary in nature. It includes Inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The technical information contained in this news release has been reviewed and approved by Red Eagle Mining’s Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 43-101.

The following Qualified Persons as defined under NI 43-101 are independent of Red Eagle Mining and responsible for the Technical Report and Preliminary Economic Assessment for the San Ramon project development:

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Qualified Person          Firm                      Scope of Responsibility

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Michael Lindholm -        Mine Development          Geology and Mineral

 C.P.G.                   Associates                Resources

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Thomas Dyer - P. Eng.     Mine Development          Mining, Mine Planning

                          Associates                and Financial Analysis

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Carl Defilippi -          Kappes, Cassiday and      Process Design

 Registered Member SME    Associates

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W. Joseph Schlitt -       Hydrometal, Inc.          Metallurgy and

 Ph.D. P. Eng.                                      Processing

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About Red Eagle Mining

Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 320 km2 historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the San Ramon Gold Deposit where a positive Preliminary Economic Assessment supports project advancement. Feasibility and permitting are currently underway.