VANCOUVER, BC--(Marketwired - March 02, 2017) - Red Eagle Exploration Limited (TSX-V: XR) is pleased to announce the TSX Venture Exchange has approved its name change from CB Gold Inc. (TSX VENTURE: CBJ) to Red Eagle Exploration Limited. On Monday March 6, 2017, Red Eagle Exploration common shares will begin trading on the TSX Venture Exchange under the new symbol "XR".

Red Eagle Exploration further wishes to clarify that 4,666,700 common shares will be issued in connection with the amended acquisition agreement for the San Bartolo property and not 3,450,000 common shares, which was referred to in error in the news release dated February 15, 2017.

About Red Eagle Exploration

Red Eagle Exploration is a well-financed precious metals exploration and development corporation majority owned by gold producer Red Eagle Mining Corporation. Red Eagle Exploration has an experienced exploration and mine development team focused on building shareholder value through acquiring and developing high grade gold and silver projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Exploration owns 100% of the California Gold, Vetas Gold and Santa Ana Silver Projects, which consist of numerous historic and existing mines and where exploration is currently underway to delineate high-grade vein resources exploitable by modern underground mining methods.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the proposed sale transaction are forward-looking statements. By their nature, forward-looking s tatements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: failure to satisfy all conditions precedent to the transaction, including disinterested shareholder approval and stock exchange regulatory approval, and the additional risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other ci rcumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact Ian Slater, Chief Executive Officer or: Patrick Balit Vice President Corporate Development Red Eagle Mining Corporation +1 778 372 2558 [email protected]