chairmans address after general meeting

Today is another important milestone with shareholders
ratifying a share placement which has delivered the
equity funds component towards the development
of the one million ounce Siana gold deposit.
Progress towards meeting the senior debt conditions
precedent has seen the first phase of due diligence
by Société Générale’s independent technical expert,
Behre Dolbear, completed. The second phase, a site
visit, is scheduled at the end of the week.
Appointments to our executive team of a Project
Manager and Chief Financial Officer are imminent
with commencement dates in-line with our Siana
construction schedule.
Our in-fill and geotechnical drill programme of the
200 to 350 metre vertical horizon continues. This
programme, which completes late January 2008
is integral to the satisfaction of a further senior debt
condition precedent, namely, the conversion of
60 percent of the underground Inferred Resource
to the Indicated category.
Three holes are still drilling with two nearing conclusion
including the hole targeting 200 metres below
SMDD111 (7 metres at 11.7g/t gold and 5.8% zinc).
This hole is currently at 780 metres down the hole.
A further 3 holes are scheduled after which the drill rigs
will be retained on exploration targets at depth and at
Alegria prospect.
In summary, Red 5 and its expanded shareholder base
can look forward to a dynamic 2008.
Colin G Jackson
Chairman
12 December 2007