Amador Gold closes $1.25-million first tranche

Multi-Metal Company Exploiting Prominent Ontario Regions

Significant new gold discovery on surface at Loveland (11.48 g\t gold) over 400 meters away from the only other known gold zone (6.37 g/t over 8.55 m & 10.39 g/t over 3.1 m)

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Amador Gold closes $1.25-million first tranche

posted on May 01, 2008 07:48PM

Amador Gold closes $1.25-million first tranche

Amador Gold Corp (C:AGX)
Shares Issued 117,283,248
Last Close 5/1/2008 $0.215
Thursday May 01 2008 - News Release

Mr. Kevin Hull reports

PRIVATE PLACEMENT FIRST TRANCHE CLOSES

Amador Gold Corp. has closed the first tranche of its private placement consisting of 4,359,626 flow-through units at a price of 28 cents per unit and 140,000 non-flow-through units at a price of 25 cents each for gross proceeds of $1,255,695. Each common share purchase warrant will entitle the holder to purchase one common share at a price of 30 cents per share at any time up to 4:30 p.m. PT on April 22, 2010. Any shares issued will be subject to a hold period expiring on Aug. 23, 2008.

Included in the private placement was the sale of 3,928,569 flow-through units to MineralFields Group.

In connection with the transaction, Limited Market Dealer Inc. was paid a total cash commission of $88,000.

Proceeds of the private placement will be used for continuing diamond drilling programs on the company's Loveland and other Ajax properties.

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