Red Metal Resources Ltd. announced a successful start to the 2,00-metre drill program announced on January 12th, and provide an update on the exploration plans at the Carrizal Property, III Region, Chile. All five drillholes to date have been focused at the northern end of the previously drilled Farellon project close to the artisanal mine workings. All five drill holes have intercepted zones of sulphide mineralization including chalcopyrite and chalcocite, zones of strong alteration associated with iron oxide copper gold (IOCG) deposits and breccia zones up to 20 metres in width.

Significant elements noted in initial observations include widespread potassic and argillic alteration and significant amounts of iron oxides transitioning from hematite into magnetite at depth. Drill intercepts have extended the continuity of the Farellon vein by approximately 100 metres along strike to the north and down to a vertical depth of approximately 200 metres, approximately 75 metres deeper than previous intercepts. Sampling is ongoing for drillholes FAR-22-012 to FAR-22-16 and no visual estimates of grade have been made.

Assay lab expected turn-around times are estimated to be four to six weeks from receipt of samples.