anyone remember redback?

Red Back Graduates to Toronto Stock Exchange
11/29/04
Red Back Mining Inc.

(the "Company" or "Red Back") (TSX VENTURE:RBI) is pleased to announce

that its application for listing on the Toronto Stock Exchange ("TSX")

has been conditionally approved by the TSX. Trading on the TSX is

expected to commence the first week of December, 2004 concurrent with a

de-listing from the TSX Venture Exchange. The Company's trading symbol

(RBI) and CUSIP number (756297107) will remain the same.

Richard Clark, President of Red Back Mining Inc., commented: "The move

to Canada's senior stock exchange reflects the Company's growth and

soon-to-be status as a significant new gold producer. Construction of

our Chirano gold mine in Ghana is well underway with the first gold pour

anticipated in Q3 2005."

The Chirano gold mine is scheduled to produce on average 123,000 ounces

of gold per annum over an initial 8 year mine life. Production during

the first full three years is expected to be approximately 145,000

ounces per annum. Mineralization at Chriano is open at depth and along

strike. The Company recently carried out a successful infill and

resource expansion drilling program resulting in a 22% increase in

measured and indicated resources. With this success rate and with the

discovery of new anomalies through soil sampling and trenching a new

10,000m drill program will commence by the end of November/early

December, 2004. Red Back management believes there is good potential to

further increase the resource and reserve inventory of Chirano, thereby

further extending mine life beyond the current 8 years.

Red Back owns one of the largest land holdings in Ghana. In addition to

the Chirano mine, the Company's portfolio includes extensive exploration

properties along strike from Chirano (Bibiani Shear Zone Projects) in

proximity to new gold discoveries by Newmont Ghana Gold Limited (Akyem

and Ahafo North Projects) and covering small resources in northern Ghana

(Bole and Nangodi Projects). The majority of these projects are early

stage with little to no previous systematic exploration or drilling.

Management believes there to be a real potential for the discovery of

economic gold mineralisation on these projects, particularly those in

close proximity to Chirano. The majority of the exploration budget for

2005 will focus at and around Chirano and along the Bibiani Shear Zone

where Red Back has gained a considerable expertise on the controls to

gold mineralisation.

On behalf of the Board of Directors

Richard P. Clark, President

Capitalization Report for Red Back Mining Inc

Shares Issued: 62438058

Shares Escrow: 0

TSX Venture closing price for Red Back Mining I

Date: 2004/11/26

Closing Price: 1.780