Mr. Jim Atkinson reports

BIG RED MINING CORP. OPTIONS THE BALD HILL ANTIMONY PROPERTY IN NEW BRUNSWICK, CANADA AND ANNOUNCES FINANCING

Big Red Mining Corp. has provided an update on its expanding antimony portfolio. The company has signed an agreement to acquire the Bald Hill antimony project in southern New Brunswick.

Highlights:

• Bald Hill is a known high-grade antimony deposit in southern New Brunswick.
• Past work including drilling has outlined an antimony deposit over 500 metres long.
• Widths average over three metres, and grades average 3 per cent to 4 per cent antimony.
• National Instrument 43-101 technical report: Potential quantity and grade of the drilled area, which is the target of further exploration, are in the 725,000- to one-million-tonne range grading 4.11 per cent to 5.32 per cent Sb (approximately 30,000 to 40,000 tonnes contained antimony).
• There is potential to expand based on additional known targets.

The property

The property is located approximately equal distance from Sussex, Fredericton and St. John in southern New Brunswick in Queens county, New Brunswick. Access is very good with provincial and regional highways crossing and adjacent to the property.

Total of 25 drill holes have been completed on the property since discovery in 2008. The deposit consists of at least three antimony-bearing breccias and hydrothermal veins zones trending northwesterly. Mineralization has been defined over a 700-metre strike length to a vertical depth of 300 metres, and is open in all directions and to depth. High-grade antimony has been encountered in drilling including the discovery hole DDH08-03, which intersected 4.51 metres of 11.7 per cent Sb, including 2.29 m grading 20.9 per cent Sb.

Two thousand ten trenching approximately 450 metres south of DDH08-03 returned 2.90 per cent Sb over 8.18 m, which included 5.79 per cent Sb over 1.75 m and 8.47 per cent over 1.53 m.

The option agreement

Big Red can exercise the option and earn a 100-per-cent interest in the property by making aggregate cash payments of $2-million to Globex Mining Enterprises Inc., issuing an aggregate of 1.1 million common shares to Globex and incurring aggregate exploration expenditures of $5-million on the property as follows:

• Paying $2-million in cash to Globex as follows:
  • $25,000 paid on or before the 10th business day after exchange acceptance of this option agreement;
  • $75,000 paid on or before the three months from of the effective date of this option agreement;
  • $125,000 paid on or before the first anniversary of the effective date of this option agreement;
  • $150,000 paid on or before the second anniversary of the effective date of this option agreement;
  • $500,000 paid on or before the third anniversary of the effective date of this option agreement;
  • $1,125,000 paid on or before the fourth anniversary of the effective date of this option agreement;
  • Note: First two-year payments are firm obligations.

The Bald Hill property is subject of a National Instrument 43-101 technical report by CRA dated May, 2010 (reference: National Instrument 43-10 technical report, Bald Hill antimony project, southern New Brunswick, Canada, NTS map sheet 21G/09 and 21H/12, prepared for Rockport Mining Corp.).

While noting that the report does not describe a resource, that report does present the potential for the Bald Hill project based on work to that date.

The report stated: "Potential quantity and grade ranges

"Between March, 2008, and June, 2008, Rockport Mining Corp. completed 16 diamond drill holes totalling 3,454 metres on the Bald Hill property. A total of 609 samples (including QA/QC) were assayed from the drill program. The drilling has outlined a northwest-southeast-trending antimony-rich mineralized zone over a strike length of 450 metres. Significant antimony mineralization intersected by the drilling includes 11.7 per cent Sb over 4.51 metres (core width) in diamond drill hole BH-08-03. Surface mineralization assayed 43 per cent Sb over 2.0 metres. The mineralized zone remains open in all directions and is felt to have significant potential for expansion.

"The potential tonnage and grade of a potential mineral deposit at the Bald Hill property, which is the target of further exploration, is expressed as ranges. The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource."

Zone                Metric tonnage       Grade (% Sb)
   
Main zone       700,000 to 900,000     4.33% to 5.40% 
Parallel zone    25,000 to 100,000     2.13% to 3.19%
Total         725,000 to 1,000,000     4.11% to 5.32%

Note: The potential quantity and grade are 
conceptual in nature as there has been 
insufficient exploration to define a mineral 
resource and it is uncertain if further 
exploration will result in the target being 
delineated as a mineral resource.

"Estimation methodology

"The Bald Hill potential quantity and grade estimates were completed using a manual polygonal method to estimate antimony grades and tonnages for each composited interval block. Composited intervals were calculated for each drill hole and surface outcrop in an Excel spreadsheet. Each interval had to meet the criteria of being greater than or equal to the minimum true thickness of 1.0 metres and to be greater than or equal to the cut-off grade of 1 per cent or 2 per cent antimony. The current antimony metal price is $8,800 (U.S.) to $9,300 (U.S.) per tonne (Metal Bulletin: April 22, 2010)."

Discussion

Jim Atkinson, chief executive officer of Big Red, commented: "We are very excited to have an opportunity to acquire the Bald Hill antimony property in southern New Brunswick. The property has a series of excellent drill holes with high-grade antimony intersections in a vein-breccia system that has been drilled over 500 metres and is open for expansion. Our staff is currently finalizing plans for an exploration program that will include up to 2,000 metres of diamond drilling along with other fieldwork."

The technical contents of this news release were reviewed and approved by Jim Atkinson, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101.

Big Red also announces a private placement financing of up to 13 million common shares of the company at a price of 11 cents per common share for gross proceeds to the company of up to $1.43-million. The net proceeds received from the offering will be used by the company for exploration and development activities and general working capital.

About Big Red Mining Corp.

Big Red holds an option to acquire a 100-per-cent interest in the Antimony 2.0 property, which is located approximately 25 kilometres west of Fredericton, N.B., and approximately 15 kilometres northeast of the historic Lake George antimony mine. The Lake George antimony mine operated for various periods from the 1860s to 1998 and produced as much as 4 per cent of the world's demand of antimony from 1970 through 1992. The Antimony 2.0 property comprises over 35 square kilometres of relatively unexplored ground with excellent access through provincial and logging roads, and hydro power.

Big Red's management team possesses extensive experience in financing, exploration, development and mining. Big Red intends to conduct exploration campaigns on each of its optioned properties with a goal of finding one or more minable resources.