November 20, 2019
Stock Symbol: TSX.V: RMK
St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V:RMK) announces that it has made its last shipment of gypsum for the 2019 production season, bringing the total gypsum production to 155,000 tonnes from its Ace mine in western Newfoundland. This is in line with projections and the mine development plan. The Company is establishing itself as a supplier of gypsum in the region with the assistance of local contractors. The Company has also completed a drilling program at the Ace mine confirming minable material for the 2020 production season. As well, reconnaissance drilling was carried out on surrounding areas towards identifying new areas for future production. The mine is an extension of the dormant Flat Bay gypsum mine which produced at least 15 million tonnes of gypsum prior to 1990. The company believes that current market opportunities warrant ramping up production, but future production rates are speculative at this time due to normal commercial mining risks associated with scaling of production, production costs, competition, commodity prices and market availability. If the company can access markets requiring production rates beyond the Ace mine capacity, the company is prepared to develop other existing gypsum deposits located on its mineral licences, which cover approximately 700 hectares of the historic Flat Bay gypsum mines.
The Company also reports that Mr. Patrick Laracy, President and CEO, will be attending the Mines and Money Show in London November 25-27th as part of a delegation of five Newfoundland and Labrador explorers. https://london.minesandmoney.com/?utm_source=google&utm_medium=cpc&utm_campaign=tagdigital&gclid=EAIaIQobChMIqKr6gI355QIVlZOzCh1oPwWeEAAYASAAEgJxk_D_BwE .
Mr. Laracy will provide a presentation at the show on the Captain Cook Salt project in western Newfoundland. As well, he will be presenting at a private luncheon to London based investors on November 28th. The Company acknowledges the financial and administrative support of Mining Industry NL in sponsoring the delegation.
Further information regarding the Company is available at www.redmoonresources.com .
Patrick J. Laracy, PGeo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101.
Red Moon is an industrial minerals company developing the Ace Gypsum deposit, the Captain Cook Salt deposit and the Black Bay Nepheline deposit in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 63% of the common shares of Red Moon.
We seek Safe Harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, President