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Tulsequah Project Update

Friday, August 3rd, 2007

Redcorp Ventures Ltd and Redfern Resources its wholly-owned subsidiary, are pleased to announce additional results for the 2007 exploration program on the Tulsequah Property. Drilling operations at the Tulsequah Property were temporarily suspended between June 25th and July 12th, 2007 to allow for drilling personnel breaks and to accommodate increased development activities. Drilling activities resumed on July 12th targeting areas updip of the Tulsequah Chief deposit.
New 2007 Exploration Drilling Results
Hole ID, From(m), To(m), Interval(m), True Width(m), Au(gpt), Ag(gpt), Cu(%), Pb(%), Zn(%)
BB07073 203.7 204.7 1 0.7 1.08 8.50 0.01 0.02 0.1
and 206.8 207.8 1 0.7 2.14 15.00 0.03 0.18 0.41
BB07075 258.93 260.26 1.33 1.2 7.10 108.00 0.18 1.90 3.50
and 264.95 268.4 3.45 2.6 1.33 167.31 0.15 1.19 2.16
BB07076 244.00 245.22 1.22 1.1 4.49 259.57 0.45 3.86 22.46
and 255.00 257.81 2.81 2.2 1.69 120.14 0.21 1.91 4.75
plus 284.85 290.57 5.72 5.6 1.89 110.41 0.68 2.43 9.29
All of the reported results refer to drill holes completed in the vicinity and extensions of the Big Bull deposit.
BB07073 was drilled from east to west; a small zone of mineralization associated with the main Big Bull trend was cut in this hole.
BB07074 did not cut any significant mineralization. The hole cut basalts at the target depth.
BB07075 encountered two small zones of mineralization that were separated by a post mineralization basalt intrusion. Stratigraphically, the mineralization in this hole is similar to that encountered in the 60-62 zone, suggesting that the 60-62 zone may be folded into a different orientation or offset by faulting at this position.
BB07076 cut three zones of significant mineralization. The first zone, from 244.00 to 245.12 meters cut 4.49 gpt gold, 259.57gpt silver, 3.86% lead and 22.46% zinc over a core length of 1.22 meters. The position and grade of this interval suggests that it may be part of the 60-62 zone. From 255.00 to 257.81 meters the hole cut 1.60 gpt gold, 120.14 gpt silver, 1.91% lead and 4.75% zinc. The mineralization in this interval is composed of both quartz-sericite-pyrite and massive sulphide mineralization, and may be part of either the 60-62 zone or the main Big Bull trend. The final intercept was cut from 284.85 to 290.57 meters, and returned 1.89 gpt gold, 110.41 gpt silver, 2.43 % lead and 9.29 % zinc over a core length of 5.72 meters. The stratigraphic position of this mineralization suggests that it is part of the main Big Bull trend.
BB07077 was collared to the east of the main Big Bull trend to investigate a geophysical anomaly. No significant mineralization was encountered in this hole.
After completion of hole BB07077, the drill was moved to investigate an area where quartz sericite pyrite alteration had been mapped in outcrop. Results for one hole, BB07079 have been received, with no significant mineralization encountered.
Tulsequah Mine Development Update:
From late June to mid July of 2007 a total of seven loads of construction equipment and supplies were delivered to the Tulsequah project using conventional shallow draft tug and barge equipment. An existing barge landing site was reactivated, and a temporary construction camp has been established. The arrival of this equipment is the first step in the development of the Tulsequah mine and associated long-term exploration support. The Company wishes to sincerely express its gratitude to the local residents who supported and assisted with the recent barging activity.

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