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Red Back Mining / Chirano Gold Mines Ltd

Red Back Mining / Chirano Gold Mines Ltd

RED BACK MINING
is a publicly held resource corporation based in Vancouver, Canada. Red Back’s principal asset is the Chirano Gold Project located in Ghana, West Africa with proven and probable reserves of 17.8 million tonnes grading 1.9 g/t gold for approximately 1.09 million ounces contained gold. The Chirano Project is within the Bibiani gold belt along strike from Ashanti Goldfields’ Bibiani gold mine. A bankable feasibility study has been completed on the project. Gold production is expected to commence in mid-2005 at 123,000 ounces gold per year over an initial 8.5 year mine life. The Company has additional exploration projects and significant landholdings in Ghana both in proximity and along strike from Chirano and elsewhere in Ghana. The Company’s other key project is the large Farim phosphate deposit in Guinea Bissau, West Africa. A feasibility study has been completed and the Company is pursuing the advancement of the project towards a development decision.