Proposed Transaction to Acquire Otu Gold Property in Colombia is Terminated

News Release

Proposed Transaction to Acquire Otu Gold Property in Colombia is Terminated

August 4, 2015 TSXV Symbol: ROB

Vancouver, British Columbia – Further to its news release of July 24, 2014, Red Hut Metals Inc. (the “Company” or “Red Hut”) announces that the proposed transaction with Otu Gold Ltd. (“Otu Gold”) dated July 22, 2014 (the “Transaction”) has been terminated. The Transaction contemplated the acquisition by Red Hut of all of the issued and outstanding shares of Otu Gold by way of amalgamation.

Otu Gold is a Bermuda corporation that, directly or through its Colombia based corporate subsidiaries, owns mineral rights over 80,076 hectares in the Segovia Gold Belt, in the Department of Antioquia, in northeastern Colombia.

The Transaction required that Red Hut complete a financing of a minimum of $5,000,000 to a maximum of $8 million. Although Otu Gold’s principals gave repeated extensions to the initial deadline dates and worked with the Company on numerous investor presentations, Red Hut has been unable to complete the required financing in the current market conditions.

Red Hut will continue to explore its Conuma Property on the central west coast of Vancouver Island, and to look for other opportunities. The Company expects the trading halt to be lifted shortly, upon which trading in its shares will resume.

ON BEHALF OF THE BOARD

Signed “Robert Eadie”

Robert Eadie, President, Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936 Website: www.redhutmetals.com

Suite 750, 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6 Telephone: (604) 602-4935  Fax: (604) 602-4936  E-mail: [email protected]  Website: www.redhutmetals.com