2008-05-01 - Red Lake Exploration, Inc. Raises One Million Dollars Through a Private Placement

2008-05-01 09:30 ET - News Release

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 05/01/08

Red Lake Exploration, Inc. (OTCBB: RLKX) is pleased to announce they have raised $1 million through a non-brokered private placement.

Red Lake intends to use the proceeds to exercise its option to acquire the Farellon property, continue its exploration of the Camila and Santa Rosa properties in the Candelaria IOCG belt of Chile's Coastal Cordillera, and continue investigation of new properties.

The private placement consists of four million shares of common stock at $0.25 and warrants exercisable for two years to buy four million shares at $0.35. The company paid no commissions or finders' fees. The private placement was completed on April 21, 2008.

About Red Lake Exploration, Inc.

Red Lake Exploration, Inc. is engaged in the acquisition, exploration and development of natural resource properties with headquarters in Thunder Bay, Canada.

Safe Harbor: Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1955. Although Red Lake Exploration, Inc. believes the expectations reflected in these forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be met. Factors that could case actual results to differ materially from the expectations include financial performance, regulatory changes, changes in economic conditions and other risks detailed from time to time in Red Lake's filing with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The company is not obligated and does not undertake to update any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.



Contacts:
Red Lake Exploration, Inc.
Caitlin Jeffs
President
1-866-907-5403
Website: www.redlakeexploration.com