Ann: Gearing up for Drilling at Majada , page-2

10 April 2013
Gearing up for Drilling at Chilean Copper- Gold Play
Red Gum Resources Limited (ASX: RGX, “Red Gum” or “the “Company”) is pleased to announce that following execution of all eight binding option agreements for its Majada Copper-Gold Project the Company is gearing up for an inaugural drilling program commencing in April. Execution of the option agreements now gives the Company the right to acquire 100% of nine mining claims covering nearly 600 hectares of a highly prospective portion of the Chilean IOCG Belt, located 120 kilometres south of La Serena in Region IV of northern Chile. In anticipation of this agreement Red Gum has just completed a magnetic survey and currently has an IP survey underway. Results of these surveys will be used to identify initial drilling targets. Geophysical exploration is rapidly advancing, with drilling programmed to commence before the end of April.



I suspect an imminent CR is preventing interest here . The thing is , the low ball number of shares vs the target sizes here will provide incentive for a vey limited issue . There are two separate project to drill , I suspect a 5c CR is what people are thinking .