Assembly redirection in .NET

Hello,
I m creating a C# .NET Project in which i m trying to load third party Assemblies which are installed in GAC.

But in some machines I m getting an error stating "Unable to Load assembly of specified version 7.0.351.0".

when i tried to do an assembly redirection it didn't work it still shows the same error.

Note:
7.0.351.0 - Is the version with which it is compiled.

12.0.0.0 - Assembly present in the Target machine

Properties of Reference
Specific Version -> False

Aliases -> global

Copy Local -> False

This is my sample application configuration file
<?xml version="1.0" encoding="utf-8" ?>
<configuration>
<runtime>

<assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1" >

<dependentAssembly>

<assemblyIdentity

name="Act.Framework"

publicKeyToken="ebf6b2ff4d0a08aa" />

<bindingRedirect oldVersion="7.0.351.0"

newVersion="12.0.0.0" />

</dependentAssembly>

</assemblyBinding>

</runtime>

</configuration>

I have not placed the assemblies in application path, I just want it to redirect to the version present in the GAC(12.0.0.0).

How do I Proceed with this?

Thanks in Advance.