2012 exploration - $25 million
Exploration and development of Gold deposits - Kirkland Lake Gold camp
Message: FYI: Queenston Completes Private Placement Into Mistango River Resources
Your Vote:
Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
TORONTO, ONTARIO -- QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)("Queenston") and Mistango River Resources Inc. (CNSX:MIS) ("Mistango") are pleased to announce that Queenston has completed a private placement of 750,000 units of Mistango common shares (non-flow through) at a price of $0.20 per unit for net proceeds to Mistango of $150,000. Each unit comprises one Class A voting common share of Mistango and one half of one Common share purchase warrant, with each whole warrant being exercisable into one Class A common share at the exercise price of $0.35 per each whole warrant for a period of 12 months to June 30, 2012, and at an exercise price of $0.45 per each whole warrant for the next ensuing 12 months.
The funds will be used by Mistango for general corporate purposes and to assist in funding an exploration program currently underway on their Omega gold property located in McVittie Township, Ontario approximately 25 km east of Kirkland Lake. The property host the Omega Mine that historically produced (from 1913, 1926-28, 1936-47) approximately 215,000 ounces of gold from approximately 1,450,000 tonnes grading 5.4 g/t gold.
About Queenston
Queenston is a Canadian mineral exploration and development company with a primary focus on its holdings in the historic Kirkland Lake gold camp that comprises 220 km². Late in 2010 the Company entered into a strategic alliance with Agnico-Eagle Mines Limited with the objective of advancing its key, 100% owned gold projects (Upper Beaver, Upper Canada, McBean, Anoki and Bidgood) at the Kirkland East project towards feasibility and ultimately production. The Company had working capital of approximately $74 million at March 31, 2011, no debt and a fiscal 2011 exploration budget of $25 million.
About Mistango
Mistango is a Canadian-based junior mining and exploration company focused on existing projects in Ontario and owns 100% of the Omega gold property. For additional information about Mistango and its mining properties, please visit Mistango's regulatory filings at www.sedar.com or at www.cnsx.ca.
Regards, Hg
Loading...
Loading...
New Message
Please
login
to post a reply