Red Oak Mining Corp. announced that it has executed the previously announced Property Acquisition Agreement (the "Agreement") to acquire 100% interest in the Nuevo Taxco Silver-Gold Property from Impact Silver Corp. (the "Transaction") by making certain staged cash payments, issuing common shares in the capital of Red Oak to Impact Silver Corp. and making exploration expenditures over a 3-year period as follows: (i) $1,000 in cash which was paid upon execution of the Letter of Intent in respect of the Transaction; (ii) $49,000 in cash and 500,000 common shares within five (5) days of receiving TSX Venture Exchange (the "TSXV") approval of the Transaction (iii) $200,000 in exploration expenditures on or before September 30th, 2021; (iv) $100,000 in cash, 1,000,000 common shares and $400,000 in exploration expenditures on or before September 30, 2022; and (v) $150,000 in cash, 2,000,000 common shares and $800,000 in exploration expenditures on or before September 30, 2023. Impact Silver Corp. will retain a 1.0% Net Smelter Returns royalty ("NSR") which Red Oak has the option to buy back the NSR for $1,000,000. The Agreement includes a one (1) km mutual area of interest from the outside boundary of the Zacualpan SE mineral concession (the "Property") for a period of two (2) years.