Red Eagle Mining Corporation - Drilling Commenced at Santa Rosa

VANCOUVER, July 11, 2011 - Red Eagle Mining Corporation (TSXV: RD), is pleased to announce that all the necessary requirements are in place to commence diamond core drilling at the Santa Rosa project in Colombia. A minimum of 10,000 metres will be completed by two rigs during 2011. Exploration to date has entailed:

- Detailed structural and geological mapping of over 280 near surface adits (with a total length of over 6,800 metres) and over 60 historic open cut hydraulic workings;

- Collection and analysis of 1,732 rock samples and 253 soil samples;

- Aerial magnetic and radiometric (potassic alteration) surveys; and

- Petrographic thin section study.

Work has now progressed to conducting an induced polarisation (IP) program over the identified initial drill target area in the south east sector of the property, which will be followed by extensions to the program over the whole of the magnetic and radiometric anomalous areas.

Surface exploration programs to date have defined what is considered a significant intrusive related gold system that has never been drilled. Mineralization is contained within numerous veins and veinlets structurally-related to East-West and North-North-West corridors, which commonly contain mineralization at an average of 1.2 g/t gold within the oxide cap layer. Additionally high grade gold mineralized veins that were accessible through artisanal shafts were sampled within the primary rock with results returning up to 98 g/t gold.

Initial drill targets have been established for the south east sector of the property, where high grade veins and disseminated vein systems have been traced for over two kilometres along strike and up to 30 metre widths. This trend is coincident with historic workings, high potassic alteration, anomalous aerial magnetics, IP and surface geochemistry.

A drilling contract with Cabo Drilling Corp. (TSX-V: CBE) for 20,000 metres and two diamond drill rigs has been concluded. All preparation for drilling has been completed at site, including pads, access roads, drilling support infrastructure (including core sheds and core splitting facilities), permits, surface rights access and QC/QA protocols. Drill rigs are currently being mobilized. The Santa Rosa project is easily accessed by road, 21 kilometres from the town of Santa Rosa de Osos (population 32,000) with manpower, water and power readily available.


About Red Eagle Mining Corporation:

Red Eagle Mining Corporation is a well-financed ($15 million cash) gold exploration and development company with two flagship properties in Colombia, Santa Rosa and Pavo Real, and an experienced exploration and management team. Santa Rosa is located within an intrusive hosted structurally-controlled quartz stockwork system within the prolific Cretaceous Antioquia Batholith. Gold mining within the Santa Rosa project pre-dates the 16th century. Pavo Real is located within the prolific Cauca gold belt which is host to numerous porphyry and epithermal gold deposits. For further information on Red Eagle Mining Corporation please refer to our website www.redeaglemining.com.


This news report has been approved by a Qualified Person in the employ of Red Eagle Mining Corporation. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



For further information:

Ian Slater, Chief Executive Officer

James Beesley,Sequoia Partners, Investor Relations
james@sequoiapartners.ca
+1 604 682 4600
+1 855 682 5888 toll free