Vancouver, December 6, 2024 - Big Red Mining Corp. (CSE: RED) (FSE: K8J) (the "Company" or "Big Red") announced on October 23, 2024 a private placement financing (the "Offering") of up to 11,200,000 Common Shares of the Company at a price of C$0.18 per Common Share for gross proceeds to the Company of up to $2,016,000. Big Red also announced a Flow-Through financing of up to 4,800,000 Flow-Through common shares at $0.21 for gross proceeds to the Company of up to $1,008,000. The net proceeds received from the Offering will be used by the Company for exploration and development activities and general working capital. The Flow-Though portion of the financing is expected to be closed shortly, followed by the private placement in due course.
About Big Red Mining Corp.
Big Red holds an option to acquire 100% ownership of the Antimony 2.0 Property in New Brunswick, Canada. The property is located approximately 25 kilometers west of Fredericton, the Provincial Capital and approximately 15 km north-northeast of the historic Lake George Antimony Mine. The Lake George Antimony Mine operated for various periods from the 1860s to 1998 and produced as much as 4% of the world's demand of Antimony from 1970 through 1992. The Antimony 2.0 property has excellent access including provincial and logging roads and hydro power. Big Red also holds an option to acquire a 100% interest in the Dobie Lake Copper Project (the "Property") in Ontario, Canada. The Property is Located approximately 100 km from Sault Ste Marie, Ontario. The Property surrounds and covers Extensions of the Past producing Jentina Mine. Past drilling on the property has identified at least three copper-bearing vein and breccia structures with copper values.
The technical contents of this news release were reviewed and approved by Jim Atkinson, MSc., P.Geo., who is a qualified person as defined by National Instrument 43-101.
WWW.BIGREDMINING.COM
On Behalf of the Board of Directors
Jim Atkinson, CEO and President
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232884
