announcement out, page-3

red 5 confirms extension of mineralisation Red 5 confirms extension of mineralisation at Siana
08:58, Friday, 27 October 2006

Sydney - Friday - October 27: (RWE Australian Business News) -
Red 5 Ltd (ASX code: RED) reports exploration at its 80 per cent-owned
Siana gold project in the Philippines has confirmed mineralisation
extends to 410 metres vertical, along with the potential to deepen
first-stage pit design.

SMDD107 has confirmed the extension of Main Zone mineralisation
to 410m below surface with 12m at 4.5g/t gold and 12.2g/t silver within
a broader sulphide-rich zone of 44m at 1.9g/t gold, 6.1g/t silver and
including three metres at 3.1 per cent zinc.

SMDD108, recently completed 80 metres to the south, intersected
visible sulphide mineralisation, 350 metres below surface.

Assays are pending.

In addition, two special-purpose geotechnical holes parallel to
the base of the PFS design pit and recently assayed on completion of
geotechnical studies have shown excellent potential for deepening of the
final BFS design pit.

Drilled at oblique angles to the Main Zone, SMDD 102 intersected
104m (estimated true width 25m) at 4.1g/t gold including two 16m
intervals at 8.1 and 13.4g/t gold, respectively.

Hole SMDD103 intersected 64m (estimated true width 33m) at
3.3g/t gold and 4.6g/t silver.

These results exceed the grades interpolated from
pre-feasibility resource modelling for the basal portions of the pit.

Shares in Red 5 traded steady at 10.5c yesterday.

ENDS