Redhill Resources is a publicly traded Canadian junior exploration company listed on the TSX Venture Exchange under the symbol RHR. Redhill is led by a diverse group of professionals with a history of successes in the mineral exploration and development industry. The company is in an excellent cash position and prepared for an active year on both its gold project in Tanzania, East Africa and its rare earth property in Utah.
The company's Tanzanian Nyakagwe project is located 6 Km's from Barrick's 12M oz Bulyanhulu gold mine, an underground operation which produced over 260,000 ounces of gold in 2010. Redhill has entered into an Agreement allowing it to acquire an initial 85% interest, and the right to acquire the remaining 15% ownership of 46 Primary Mining Licenses and 100% interest in a Prospecting License in this property. Together these licenses form 3 blocks of contiguous claims totaling 500 hectares with analogous geology to that of the Bulyanhulu mine.
Redhill Resources has positioned itself as Tanzania's premier exploration company and is prepared for an aggressive year in both its current exploration and future acquisitions in the East Africa region.