COPPER DEVELOPMENT – Redcorp to raise $240M for Tulsequah project

BRITISH COLUMBIA - Vancouver-based REDCORP VENTURES has filed a short form prospectus for a debt and equity offering expected to raise up to $240.0 million. Net proceeds will be used for construction, development and opening of the Tulsequah Chief copper mine near Atlin. Redcorp says the project requires a pre-startup capital investment of $201.5 million to build a new underground mine and 2,000-t/d mill.

A technical report of the Tulsequah project is available at www.Redfern.bc.ca, the website of Redcorps wholly owned subsidiary and project operator.