Red Eagle Mining Corporation announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2018 and operating results for the month of April 2018. For the quarter, the company reported net loss of $4,201,000, comprehensive loss of $4,030,000 or $0.01 per basic & diluted share compared to net loss of $2,591,000, comprehensive loss of $2,181,000 or $0.01 per basic & diluted share a year ago. The net loss increased compared to the 2017 period primarily due to increased mine site expenses as these costs were capitalized during 2017.

For the quarter, the company reported total ore mined was 48,616 tonnes, ore processed was 60,694 tonnes, gold produced was 5,727 ounces and recovery was 93%. Ore mined per day was 540 tonnes and ore processed per day was 682 tonnes.

For the month of April 2018, the company reported total ore mined was 20,390 tonnes, ore processed was 21,027 tonnes, gold produced was 1,878 ounces and recovery was 92%. Ore mined per day was 680 tonnes and ore processed per day was 701 tonnes.

Gold production is forecast to increase to 3,000 ounces of gold per month in May.

The mining stope delineation underground drill program continued during first quarter 2018. Approximately, 21,688 metres have been drilled to date on ten metre centres in 250 delineation holes. The delineation drilling program continues to return intercepts with grades significantly higher than the reserve grade of 5.2 g/t Au. Underground exploration drilling at the mine during the quarter intersected high grade mineralization including 4.75 metres at 20.3 grams per tonne gold. The drilling was below the mine workings along 300 metres of strike between sections 856,970 E and 857,200 E extending the vertical extent of known gold mineralization. Mineralization is open to depth in an area with no previous drilling and outside of the mineral resource and mineral reserve.