BARRY ALLAN, RESEARCH CAPITAL (01/20/2009)
RMX released 10 additional intercepts for step-out hole #39. An earlier press release (December 11) had already reported a very high-grade intercept (1,575.6 g/t over 2.0 metres) that occurred higher up in the hole (119 metres). The 10 new intercepts occurred between 678 metres and 959 metres (down-hole length). The average of the additional intercepts reported was 6.0 g/t over an average of 4.3 metres (all intercepts diluted to a 2.0-metre minimum width), the best being 17.7 g/t over 2.0 metres – a good intercept by Red Lake standards (>14 g/t over 2.0 metres). The results illustrate that the mineralized gold body continues ~200 metres on strike with the F2 Main zone.

Deposits in the Red Lake camp typically have a long vertical extent, reaching >2,500 metres in some cases. Hence, for F2 it is still early days, and good additional drilling results are highly probable. We continue to recommend RMX as a BUY, and believe that RMX's discovery is in the early stages of being defined.