Red Moon Resources – Gypsum Update
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
News Release
March 25, 2020
Stock Symbol: TSX.V: RMK
Red Moon Resources – Gypsum Update
St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the Company” - “Red
Moon” TSX-V:RMK) announces that in 2019 the Company produced 155,914 tonnes of
gypsum/anhydrite from its Ace mine in western Newfoundland in its first year of production.
This amounts to net proceeds of $366,400.00 before tax but after payment of all mining and
production costs. The Company is currently finalizing its contract mining arrangements for 2020
as well as bidding and negotiating sales contracts for the coming production season. It is
premature to provide guidance for 2020 production until sales contracts and a production
schedule are finalized. However, based on discussions to date, the Company expects production
to exceed 2019 numbers barring any production or sales interruptions. The production season
commences in mid-May though overburden removal is expected to commence before that
date.
Recent Special Measures Orders (“measures”) by the Province of Newfoundland and Labrador
restrict the mobility of persons entering the province via self-isolation requirements in
response to the Covid-19 pandemic. These restrictions are not expected to materially affect the
Company’s operations because the Ace Mine employs workers and services from local
communities not requiring inter-provincial or international travel. Furthermore, the measures
have exempted asymptomatic workers from self-isolation requirements when travelling into
the province for mining activities (and other specified purposes) as per further information
available on the government website https://www.gov.nl.ca/covid-19/ . However, future Covid-
19 related measures may impact the Company’s operations. This situation will be better
assessed as the production season approaches.
The Company recognizes the severity of the current Covid-19 related measures and will
continue to monitor the situation closely with its contractors and abide by all regulatory
requirements.
Further information regarding the Company is available at www.redmoonresources.com .
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
Patrick J. Laracy, P. Geo, President is the qualified person responsible for the contents of this
news release as defined in National Instrument 43-101.
Red Moon is an industrial minerals company with production of gypsum/anhydrite at its Ace
Mine in western Newfoundland. As well it is developing the Captain Cook Salt deposit and the
Black Bay Nepheline deposit in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX.V: VUL)
owns approximately 63% of the common shares of Red Moon.
We seek Safe Harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this re lease. This release may contain certain forward- looking statements. Actual events or
results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control
may affect the actual results achieved. Accordingly, readers are advi sed not to place undue reliance on
forward-looking information. Except by law, the Company undertakes no obligation to publicly update or
revise forward-looking information.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186
www.redmoonresources.com