Red Back Mining Inc.: 1 Million Ounce Akwaaba Deeps Reserve

Red Back Mining Inc. (TSX:RBI) (the "Company" or "Red Back") is pleased to
announce that the ore reserve at Akwaaba Deeps is now over 1 million ounces.
Akwaaba Deeps is the Company's first underground deposit at its Chirano Gold
Mine in Ghana.


The Company's independent consultants, AMC Consultants of Perth, Western
Australia have now reported ore reserves based on the sub-level caving ("SLC")
mining method. The following table shows the Akwaaba Deeps underground reserves
as at May 31, 2008:




-------------------------------------------
Akwaaba UG Reserve May 2008
below 2212mRL
-------------------------------------------
               Tonnes     Grade      Ounces
Class        (million)     (g/t)   (million)
-------------------------------------------
Probable          8.8       3.7        1.04
-------------------------------------------
Notes
1. The Underground Ore Reserve is based on SLC design and comprises
   development and production (stope) ore. Development ore includes
   only the Indicated Resources that are intersected by the development
   headings.
2. For the SLC Stopes only Indicated resource was included in the stoping
   shapes for production levels 2200mRL to 1775mRL
3. All unclassified material (zero grade) lying within the above SLC
   Stopes was included as planned dilution essential for the mineable SLC
   shape. Similarly any Inferred resource (and its grade) lying within the
   indicated resource in the ore development, was included as planned
   dilution with mineralisation/grade. The total quantity included amounts
   to less than 0.19% of the ore development ounces. All Inferred resource
   & unclassified material lying at the extremes of the ore body was
   excluded from the mine design and SLC Stoping shapes.
4. The reserve estimates are based upon a cut of 2.1g/t, a gold price of
   US$700/oz and 9.8c/kWhr electricity price.



The revised Ore Reserve Estimate is based on an updated Underground Mineral
Resource Estimate calculated by Hellman & Schofield Pty Ltd that includes all
drilling to the end of April 2008 and is detailed in the table below:




-------------------------------------------
Akwaaba UG Resource - May 2008
below 2212mRL
-------------------------------------------
               Tonnes     Grade      Ounces
Class        (million)     (g/t)   (million)
-------------------------------------------
Indicated         6.1       6.0        1.17
-------------------------------------------
Inferred          0.4       3.4        0.04
-------------------------------------------
Notes: Underground Mineral Resources are reported above a 2.5g/t cut off
       and below the 2212mRL which is the base of the proposed Akwaaba
       open pit. Gold grades for the reported underground resource model
       have been determined using Ordinary Kriging (OK) with grades
       interpolated into parent blocks with dimensions of 5m (east) by 25m
       (north) by 10m (elevation). Gold estimation and model blocks were
       constrained within geologically derived wireframes.



Development of the Akwaaba Deeps decline is underway and it is anticipated that
first ore will be delivered to the mill in the fourth quarter of 2008. Mining
will be carried out using the SLC method.


The capital cost to construct Akwaaba Deeps has been revised down by 19% and is
now estimated to be US$67m inclusive of owners costs and contingency. Life of
mine operating costs to deliver underground ore to the Chirano mill have been
estimated to be approximately $25 per tonne (inclusive of contingency).


Chirano Surface Reserves

The Chirano surface reserves are contained in nine open pits and at December 31,
2007 contained 1.38 million ounces as detailed in the table below:




-------------------------------------------
Open Pit Reserve December, 31 2007

-------------------------------------------
               Tonnes     Grade      Ounces
Class        (million)     (g/t)   (million)
-------------------------------------------
Proven           22.0       1.6        1.12
-------------------------------------------
Probable          5.4       1.3        0.22
-------------------------------------------
Stockpiles        1.2       1.1        0.04
-------------------------------------------
Total            28.6       1.5        1.38
-------------------------------------------
Notes
1. Variable cut-off grades were used to estimate the Open Pit inventory
   that form the Ore Reserve depending on material type and location with
   an average breakeven cut-off grade in the range of 0.60g/t and 0.65g/t.
2. The reserve estimates are based upon a gold price of US$700/oz, 3.5mtpa
   processing throughput, $1.20/l diesel and 9.8c/kWhr electricity price.



Commenting on the new reserve and the continuing development of Akwaaba, Richard
Clark, President and CEO of the Company stated:


"Ever since the discovery of Akwaaba we have been excited about the potential
for this deposit to change the perception of Chirano. Now with the reserve over
1 million ounces, development underway and competitive estimated operating costs
we are close to delivering significant added value from Akwaaba. As drilling
continues both at Akwaaba and under other surface deposits on the Chirano Shear
Zone, we are excited about the possibility of adding further underground high
grade ore to the Chirano story."


The independent Resource estimate reported herein was undertaken by Nic Johnson
(Member of the Australian Institute of Geoscientists) of Hellman and Schofield
Pty. Ltd with more than five years experience in the use of geostatistics for
estimation of recoverable resources in gold deposits. For the purpose of
reporting under National Instrument 43-101 Mr. Johnson is regarded as a
Qualified Person.


The independent Underground Ore Reserve estimate reported herein was undertaken
by Tony Silveira (Member of the Australasian Institute of Mining and
Metallurgy), Senior Mining Engineer of AMC Consultants Pty Ltd with more than
five years experience in Ore Reserve estimation. For the purpose of reporting
under National Instrument 43-101 Tony Silveira is regarded as a Qualified
Person.


The independent Surface Ore Reserve estimate reported herein was undertaken
under the supervision of Bruce Gregory (Member of the Australasian Institute of
Mining and Metallurgy), Principal Mining Engineer of AMC Consultants Pty Ltd
with more than five years experience in Ore Reserve estimation. For the purpose
of reporting under National Instrument 43-101 Bruce Gregory is regarded as a
Qualified Person.


The technical contents of this release have been reviewed by Hugh Stuart, BSc.,
MSc, a Qualified Person pursuant to NI 43-101. Mr. Stuart is the VP -
Exploration of the Company and a Member of the Australasian Institute of Mining
and Metallurgy. Samples are prepared and analyzed by fire assay using a 50 gram
charge at the Analabs facility in Bibiani, Ghana in compliance with industry
standards. Field duplicate samples are taken and blanks and standards are added
to every batch submitted. Selected samples from this lab are check assayed each
month at other Analabs laboratories worldwide.


About Red Back

Red Back Mining Inc. is an unhedged African focused gold producer. It owns and
operates the Chirano Gold Mine in Ghana (90% interest) and the Tasiast Gold Mine
in Mauritania (100% owned). Major plant expansions at both Chirano and Tasiast
are underway. An aggressive exploration program aimed at increasing the
Company's resource and reserve base at both Chirano and Tasiast is continuing.


This News Release contains forward looking statements which are subject to a
variety of risks and uncertainties which could cause actual events or results to
differ materially from those reflected in the forward looking statements. The
Company does not intend to update this information and disclaims any legal
liability to the contrary.


On Behalf of the Board,

Richard P. Clark, President and CEO