Red Mile Minerals Corp. (TSX VENTURE:RDM) - 

This news release, required by applicable Canadian laws, is not for distribution
to U.S. news services or for dissemination in the United States and does not
constitute an offer of the securities described herein. The securities proposed
to be offered in the private placement have not been registered under the U.S.
Securities Act of 1933, as amended, or any State securities laws, and may not be
offered or sold in the United States or to U.S. Persons absent registration or
an applicable exemption from the registration requirements.


Red Mile Minerals Corp. ("Red Mile" or the "Company") is pleased to announce a
brokered private placement of up to 3,600,000 Flow-Through Units at a price of
$0.125 per "Flow-Through Unit" for gross proceeds of up to $450,000 and of up to
1,500,000 Non-Flow-Through Units at a price of $0.10 per "Non-Flow-Through Unit"
for additional proceeds of up to $150,000. Each Flow-Through Unit will consist
of one flow-through common share and one half of one transferable common share
purchase warrant; one full warrant entitling the holder to subscribe for one
additional common share at a price of $0.15 for a period of two years from
closing. Each Non-Flow-Through Unit will consist of one common share and one
half of one non-transferable common share purchase warrant entitling the holder
to subscribe for one additional common share at a price of $0.15 for a period of
two years from closing. Together, the Flow-Through Unit and Non-Flow-Through
Unit offering represents "the Offering", which may close in tranches.


Proceeds received from the sale of Flow-Through Shares will be used to continue
exploration activities primarily on the Company's Dorset property in
Newfoundland, which expenses are Canadian exploration expenses ("Qualifying
Expenditures") for tax purposes and will be renounced in favour of the
subscribers for the Flow-Through Shares effective on or before December 31,
2011. Proceeds received from the sale of Non-Flow-Through Units are intended to
be used for corporate purposes.


The Company will pay a finder's fee in respect of all, or part of, the Offering
in cash, shares, warrants, units, or a combination thereof, as may be permitted
by the applicable Securities Laws and the policies of the Exchange.


The Offering is subject to certain conditions including but not limited to the
receipt of all required regulatory approvals and consents, including the
approval of the TSX Venture Exchange. Closing of the Offering is expected on or
about August 26, 2011. The securities of the Company issuable pursuant to the
Offering will be subject to a Canadian hold period expiring four months and one
day after the closing date.


About Red Mile Minerals

Red Mile Minerals is a tightly held mineral exploration company with a gold
property along the prolific Destor-Porcupine gold-producing region in Ontario
and the Dorset Property in Baie Verte, Newfoundland. Red Mile continues to seek
additional mineral exploration opportunities where the company's exploration
expertise and corporate share structure could substantially enhance shareholder
value. 


This press release contains forward-looking statements. More particularly, the
press release contains forward-looking statements related to the anticipated
closing of the Offering and the use of proceeds therefrom. The forward-looking
statements contained in this document are based upon certain key expectations
and assumptions made by Red Mile, including: expectations and assumptions
concerning receipt of required regulatory approvals and the satisfaction of
other conditions to the completion of and use of proceeds from the Offering.
Although Red Mile believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Red Mile can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These include, but
are not limited to, the failure to obtain necessary regulatory approvals or
satisfy the conditions to closing the Offering.


Additional information on these and other factors that could affect Red Mile's
operations and financial results are included in reports, including Red Mile's
quarterly and annual reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com). The
forward-looking statements contained in this document are made as of the date
hereof and Red Mile undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.


On behalf of the Board of Red Mile Minerals Corporation

John Hickey, President and CEO