Redfern Resources Ltd. has secured $90 million more in capital financing to assist with advancing the Tulsquah Chief mine south of Atlin, B.C., the company announced last week.

The Vancouver-based Redfern has signed an arrangement with Gold Wheaton Corp. of Vancouver to provide the financing in exchange for the right to buy all gold produced at the mine for a locked-in price of $400 US per ounce.

The arrangement would apply for the entire eight-year life of the mine, and beyond if exploration in the area confirms further mineral resources, company spokeswoman Salina Landstad said in an interview Monday.

She explained funds will be available when Redfern secures its permit to go ahead with mine construction and underground development; as well as the permit approving its proposal to transport the ore concentrate down the Taku River in both winter and summer to the Taku Inlet for transport to Juneau.

The company will likely have the necessary permits by late summer, said Landstad, the manager of public relations and corporate communications.

Landstad said the target is getting into production by mid-2009.

Employment, she added, will peak during construction at about 300 onsite workers, and will fall to about 200 operational staff, a little better than half of whom would be at the mine site on any given day, the others on days off.

"This has been 20 years in the making," Landstad said. "This is a pretty exciting time for us."

Redfern Resources and the Taku River Tlingit First Nation were at odds for years over the company's plan to drive a 160-kilometre haul road through the pristine country between Atlin and the mine site situated on the Tulsquah River

Early last year, the company announced it had forsaken the road option for a new proposal to truck the concentrate 10 kilometres to a landing just up from the confluence of the Taku River. The concentrate is to be loaded onto air cushion barges suitable for summer and winter conditions.

The company previously announced raising $251 million in financing to bring the mine into production, though $90 million has since been tied up in the asset-backed commercial paper mess.

Landstad said Redfern anticipates selling the asset-backed notes to provide for the final portion of the $297.1 million required to complete startup financing.

The Tulsquah Chief feasibility study indicates the mine will produce 40,000 tonnes of zinc concentrate per year, 50,000 ounces of gold, 9,000 tonnes of copper, 1.7 million ounces of silver and 3,800 pounds of lead, she pointed out.

Redfern is a wholy owned subsidiary of Redcorp Ventures Ltd.