Dear Shareholder Red October Resources Limited (ASX-ROS) (?Red October? or ?the Company?) refers to the news article in the Weekend West on Saturday, 11 June 2011. The Company confirms that it has successfully bid for the Akjilga Silver Project in Tajikistan, owned by Kazakhmys PLC (LON: KAZ), a FTSE 100 Company listed on the London Stock Exchange (the ?Project?). The purchase price for the Project is US$12M, which includes a 90-man exploration camp. The Company has paid an initial US$2 million deposit through existing cash reserves and it is the Company?s current intention to spin the Project out into a new listing or vend the Project direct into another listed entity. Early stage negotiations have already commenced with an entity listed on TSX in this regard. The Company is presently in discussions with the ASX regarding the application of Chapter 11 of the Listing Rules with respect to the acquisition and will provide further information to the market as soon as it can. Yours faithfully Ross Smith Executive Chairman For more information please visit the company website at www.redoctober.net.au
ROS Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
