Redhill Resources Corp., (RHR: TSX-V), ("Redhill" or the "Company") wishes to announce that it has sold its 40,000,000 shares of Mutiny Gold Ltd (ASX: MYG) ("Mutiny") for net proceeds of $1,352,520 AUD. The Company had acquired the shares in December 2011 as part of the sale of its Australian asset, the Gullewa Gold Mine Project. Please refer to the news release of December 16, 2011 for more details.
Mr Andrew Bowering, President & CEO comments, "The sale of our stake in Mutiny Gold Ltd in no way reflects our opinion of their assets or management. The cost of holding the shares in our Australian subsidiary no longer warranted an investment. Redhill will continue to focus on its properties in northern British Columbia."
To find out more about Redhill Resources Corp, please contact investor relations at (604) 662-8184 or email info@redhill-resources.com. You may also visit our website at www.redhill-resources.com.
REDHILL RESOURCES CORP.
"Andrew Bowering" Andrew Bowering, President & CEO
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"This news release may contain forward--looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
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Redhill Resources Corp., (RHR: TSX-V), ("Redhill" or the "Company") wishes to announce that it has sold its 40,000,000 shares of Mutiny Gold Ltd (ASX: MYG) ("Mutiny") for net proceeds of $1,352,520 AUD. The Company had acquired the shares in December 2011 as part of the sale of its Australian asset, the Gullewa Gold Mine Project. Please refer to the news release of December 16, 2011 for more details.
