Red Eagle Mining Corporation has completed the second tranche of its previously announced private placement in the amount of approximately $5,650,000 for total gross proceeds of approximately $19,350,000, consisting of 71,677,550 common shares at a price of $0.27 per Share. In connection with the transaction, Mr. Steve Dixon has been appointed to the Board of Directors of Red Eagle Mining. Mr. Dixon is co-founder, Chief Executive Officer and Director of STRACON GyM S.A. In order to accommodate the appointment of Mr. Dixon, Mr. Ken Cunningham has agreed to resign from the Board of Directors of Red Eagle Mining.