Red Eagle Exploration (XR.V) has announced the appointment of Leo Hathaway and Ben Pullinger to its board of directors. Hathaway currently also is SVP exploration for Lumina Gold after having gigs as Chief Geological Officer at Lumina Copper which was acquired by First Quantum Minerals (FM.TO, FQM.L).
Pullinger also has plenty of experience as he currently is the VP Geology of Excellon Resources after serving as VP Exploration for Roxgold (ROXG.TO) which discovered a high-grade underground gold deposit in Burkina Faso, West Africa.
Red Eagle Exploration has also announced its intention to raise C$10M-20M with a prospectus offering priced at C$0.15. Each unit consists of one share and one full warrant, allowing the warrant holder to purchase an additional share of Red Eagle Exploration at C$0.25 within 18 months after the financing closes. The proceeds of the financing will be used to fund the exploration and acquisition expenses on the Vetas Gold, California Gold and Santa Ana Silver projects, which we will discuss into more detail later on. Red Eagle Exploration plans to drill 34,000 meters on these projects, of which the majority will be drilled on Vetas.